New York, NY, Sept. 09, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Dimethyl Ether (DME) Market by Raw Material (Methanol, Bio-Based Feedstock, Coal, and Natural Gas) and by Application (LPG Blending, Aerosol Propellant, Transportation Fuel, Chemical Feedstock, Power Plant Fuel, and Other Applications): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global dimethyl ether (DME) market was valued at USD 4,790 million in 2017 and is expected to reach USD 9,100 million in 2024, growing at a CAGR of 9.6% between 2018 and 2024.
Dimethyl ether (DME) is an odorless, colorless, slightly narcotic, non-hazardous, highly inflammable gas at ambient conditions. It is also known as methoxymethane or wood ether or dimethyl oxide. It has the low boiling point and is generated from various raw materials such as methanol, bio-based feedstock, coal, and natural gas.
Browse through 60 Tables & 35 Figures spread over 110 Pages and in-depth TOC on “Global Dimethyl Ether Market: Industry Size, Share, Demand, Growth Analysis, and Forecast, 2017 – 2024”.
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Dimethyl ether (DME) is generally known as an alternative fuel option that is widely used in various LPG blending, aerosol propellant, transportation fuel, chemical feedstock, and power plant fuel applications. Dimethyl ether (DME) is more suitable for various applications and generated a massive demand in 2017. The increasing consumer demand for dimethyl ether (DME) is anticipated to fuel the market’s growth. Robust growth of end-user industries like transportation and power generation industries across the globe is expected to be the major driver for the growth of the dimethyl ether (DME) market. Government is supporting as well as promoting the ecological policies. Sufficient raw material accessibility helps to raise the market. The increasing use of bio-based fuel from emerging economies is the major key factor that is driving the market growth. The strict government rules and regulations towards clean energy may hamper the market growth. The manufacturing companies are focusing on innovative products and anticipate opening new opportunities for the market. Nonetheless, product innovation and emerging markets in the Asia Pacific are likely to open new avenues for the major players in the market during the years to come.
Based on the raw material, the global dimethyl ether market includes methanol, bio-based feedstock, coal, and natural gas. In terms of value, bio-based feedstock raw material is expected to grow at the highest CAGR of above 11% in the forecast period. Methanol is preferable in multiple applications thus generated a huge demand in 2017. Methanol segment is the most widely used raw material, which accounted for more than 90% of total demand in 2017. Transportation and power generation end-user industries are anticipated to grow at fastest pace owing to the increased utilization of dimethyl ether (DME) as it is one of the eco-friendly alternatives products.
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LPG blending and aerosol propellant application segments held the significant shares among other applications in 2017. In global dimethyl ether (DME) market, LPG blending application segment accounted for over 21% market share. It is expected to continue its ascendancy in the forecast period. Dimethyl ether (DME) is used in transportation fuel, chemical feedstock, power plant fuel applications. Transportation fuel is expected to grow at the highest CAGR of above 14% in the forecast period. The rising demand for dimethyl ether (DME) is in the power generation industry segment, which is expected to propel the market growth. Transportation fuel and power generation industry segment holds several opportunities and is expected to be the major growth driver for the dimethyl ether market in the future.
In 2017, Asia Pacific dominated the dimethyl ether (DME) market and accounted for more than 80% share of the market. Region wise, China is the largest producer as well as consumer of the dimethyl ether (DME). China is the single largest consumer of dimethyl ether (DME), consuming around 90% of the total global consumption in 2017. The growth in the region mainly attributed to the growing demand for domestic purpose. India, China, and Indonesia are projected to emerge as the fastest growing countries in the global dimethyl ether (DME) market. Government rules and regulations are expected to encourage the utilization of dimethyl ether (DME). In addition, increasing production activities in Japan with wide-ranging capacities will certainly influence the industry growth in the forecast period. Japan, India, South Korea, and Indonesia are the regions anticipated to go through a significant growth rate. Rapid urbanizations have dominantly contributed towards the growth of power generation industry sectors which is anticipated to propel the dimethyl ether (DME) market.
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North America is the second largest market for the dimethyl ether (DME). In the U.S, demand for the power generation industry is anticipated to grow significantly over the forecast period and the U.S. is one of the major consumers of dimethyl ether (DME). Rising demand for dimethyl ether (DME) in LPG blending and aerosol propellant application segments are expected to boost the market size in the region over the forthcoming years. Further, the transportation industry will also fuel the demand for the dimethyl ether (DME) product.
Europe region is expected to grow in the global dimethyl ether (DME) market in the near future. Moreover, the rising vehicle manufactures initiative like research and development activities for low emitting vehicles are anticipated to propel the market’s profit margin in the forecast period. For instance, Ford Motors announced an investment of around USD 3.5 million for research and development towards upgraded internal combustion engines with environmental benefits similar to electric vehicles. Furthermore, the rising industrial activities in the UK, France, and Germany are anticipated to propel the market’s profit margin in the forecast period.
Browse the full “Dimethyl Ether (DME) Market by Raw Material (Methanol, Bio-Based Feedstock, Coal, and Natural Gas) and by Application (LPG Blending, Aerosol Propellant, Transportation Fuel, Chemical Feedstock, Power Plant Fuel, and Other Applications): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024” report at https://www.zionmarketresearch.com/report/dimethyl-ether-market
Latin America is expected to experience decent growth in the dimethyl ether (DME) market in the near future due to the significant investments by the international companies for dimethyl ether (DME) projects in Brazil and Argentina.
Some of the major players of the global dimethyl ether (DME) market are Akzo Nobel N.V., The Chemours Company, Mitsubishi Corporation, Grillo-Werke AG, Oberon Fuels, Royal Dutch Shell Plc., China Energy Limited, Ferrostal GmbH., Jiutai Energy Group, and Zagros Petrochemical Company, among others. Major companies in the market adopted acquisitions, mergers and expansions strategy to enlarge their production capacities and share in the dimethyl ether (DME) market in the forecast period.
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This report segments the global dimethyl ether (DME) market as follows:
Global Dimethyl Ether (DME) Market: Raw Material Analysis
- Bio-Based Feedstock
- Natural Gas
Global Dimethyl Ether (DME) Market: Application Analysis
- Aerosol Propellant
- LPG Blending
- Transportation Fuel
- Power Plant Fuel
- Chemical Feedstock
- Other Applications
Global Dimethyl Ether (DME) Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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