Dimethyl Ether Market is estimated to be US$ 32.51 billion by 2030 with a CAGR of 16.40% during the forecast period
Dimethyl Ether Market accounted for US$ 7.24 billion in 2020 and is estimated to be US$ 32.51 billion by 2030 and is anticipated to register a CAGR of 16.40%. Dimethyl Ether (DME) is a colourless gas that is used as a refrigerant, solvent, propellant, and in the manufacture of plastic products. DME is made from syngas using an indirect synthesis process that involves two steps: methanol synthesis and dehydration synthesis. With ever-increasing concerns with pollution, energy, and oil supply, the world is putting a greater emphasis on non-petroleum-based items that can help to improve energy efficiency. In comparison to other fuels such as methane, methanol, and ethanol, the DME is most likely to have the greatest social impact. DME is becoming a popular fuel option, with the potential to lessen reliance on petroleum. DME can also be utilised as a low-NOx and low-SOx high-efficiency compression ignition fuel. There are no significant issues with toxicity, production, infrastructure, or transportation.
The report “Global Dimethyl Ether Market, By Raw Material (Coal, Natural Gas, Methanol And Others), By Application (Aerosol Propellants, Chemical Feedstock, Power Plant Fuel, Transportation Fuel, LPG Blending And Others), By Region - Trends, Analysis, and Forecast Till 2029’’
Key Highlights:
· Mitsubishi Corporation announced in January 2021 that Caribbean Gas Chemical Limited (CGCL), a joint venture between Mitsubishi group companies including Mitsubishi Gas Chemical Company (MGC), Mitsubishi Corporation (MC), and Mitsubishi Heavy Industries Engineering (MHIENG), and the National Gas Company of Trinidad, began commercial production of dimethyl ether (DME) on December 18, 2020, with an annual production capacity of 20 kilotons of DME.
· Air Products Inc and Haldor Topsoe A/S signed an agreement in May 2020 to develop prospective projects relating to large-scale ammonia, methanol, and/or DME plants. Under the terms of the deal, Air Products Inc. will build methanol, DME, and ammonia plants using Haldor Topsoe A/S technology.
Analyst View:
The market is expected to be driven by increased applicability and usability in numerous industries, as well as less dangerous nature and environmental friendliness as compared to traditional fuels. Dimethyl Ether is being used more often in a variety of sectors. DME is increasingly being used in Asia Pacific's vehicle sector. It's also utilised in paint sprays as a propellant. Furthermore, Dimethyl Ether is employed as a transportation fuel due to its low particulate matter emissions. Technological advancements may make it easier to use DME as a replacement for traditional fuel sources. It also saves a lot of electricity. The market will continue to increase as environmental concerns grow, as will the necessity to employ environmentally friendly products and fuels. Furthermore, Dimethyl Ether is thought to be abundant in nature due to the abundance of coal reserves in the Asia-Pacific region. These elements are expected to boost the market and act as catalysts.
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Key Market Insights from the report:
Global Dimethyl Ether Market accounted for US$ 7.24 billion in 2020 and is estimated to be US$ 32.51 billion by 2030 and is anticipated to register a CAGR of 16.40%.The Global dimethyl ether market has been segmented on the basis of raw material, application and region.
· Based on Raw Material, Global Dimethyl Ether Market is segmented into coal, natural gas, methanol and others.
· Based on Application, Global Dimethyl Ether Market is segmented into aerosol propellants, chemical feedstock, power plant fuel, transportation fuel, LPG blending and others.
· By Region, the Global Dimethyl Ether Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Dimethyl Ether Market:
Key players operating in the growth of global dimethyl ether market includes Oberon Fuels Inc., Zagros Petrochemical Company, China Energy Limited, Toyo Engineering Corporation, Fuel DME Production Company Limited, Praxair Inc., Guangdong JOVO Group Co.Ltd, Grillo-Werke AG, Korea Gas Corporation and Shenhua Ningxia Coal Industry Group Company.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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