Dimethyl Ether (DME) Market Share Charges Ahead with Huge Growth by 2016-2024
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.
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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.
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.
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.
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The Asia Pacific was the leading market of dimethyl ether in 2017. In terms of value and volume, the Asia Pacific accounted for 80% share of the global market. Moreover, the Asia Pacific, especially China and India are the fastest growing market of dimethyl ether within the forecast period. It is expected to witness a great perspective to surge the demand for dimethyl ether due to the rising positive regulations in the region. In 2017, North America was the second largest region for dimethyl ether (DME) followed by Europe. Furthermore, the changing dynamics, government favorable policies in the region is expected to have a positive effect on the demand for dimethyl ether (DME) in the region.
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.
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
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Global Dimethyl Ether (DME) Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa