Detroit, Michigan, Jan 24th 2022. The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Bio-based and Synthetic Dimethyl Ether Market.
Bio-based and Synthetic Dimethyl Ether Market is likely to witness a CAGR of 8.6% during the forecast period. Owing to its wide application in automotive fuels, industrial procedures, electric power production, and home applications such as heating and cooking, bio-based and synthetic dimethyl ether is witnessing a growth in demand. DME may be made from a variety of sources and is inexpensive, allowing it to be used more widely. Furthermore, over the forecast period, the low carbon footprint of bio-based and synthetic dimethyl ether will boost market growth.
Dimethyl ether (DME) is a colorless gas, at room temperature, that is utilized in a variety of fuel applications, including aerosol propellant and LPG mixing. Dimethyl Ether is highly promoted by government agencies for domestic applications because it is a cleaner source of energy. In gas turbines and diesel engines, it's also a promising fuel.
Segment Analysis:
Bio-based and Synthetic Dimethyl Ether Market Share: By Raw Material Type
Based on the raw material type, the market is segmented as fossil fuel based and bio-based. Fossil fuel-based DME is expected to be the leading segment of the market during the forecast period. On the other hand, the growing product use for LPG blending and transportation fuel in the Asia-Pacific will help attain sustainable gains to the bio-based and synthetic dimethyl ether market during the forecast period. In addition, increasing regulations against high emission fuels in the transportation sector are significantly contributing to the overall demand for DME as it has a higher cetane number which provides a better ignition value to ultimately reduce pollutants from the environment.
Bio-based and Synthetic Dimethyl Ether Market Share: By Application Type
Based on the application type, the market is segmented as LPG blending, aerosol propellants, transportation fuel, and industrial. Aerosol propellants are expected to lead the market during the forecast period. The growth of the segment is driven by its use across various industries such as cosmetics, pharmaceuticals, and paints & coatings. Its properties such as low odor, low cost, improved purity & stability, low toxicity, wide boiling points range, wide vapor pressure range, and eco-friendly nature drive its growth.
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Bio-based and Synthetic Dimethyl Ether Market Share: By Region
In terms of regions, Asia-Pacific holds a major share of the market for bio-based and synthetic dimethyl ether. The market is driven by the strong presence of manufacturers coupled with growing adoption of clean fuel alternatives. Furthermore, increasing demand for cooking fuel with respect to rapid urbanization has encouraged the growth in the region. China and India are the growth engines of the region.
Key Players:
Key players operating in the Bio-based and Synthetic Dimethyl Ether market are-
- Akzo Nobel N.V.
- China Energy Ltd
- Korea Gas Corporation
- Royal Dutch Shell plc
- Mitsubishi Corporation
- Shenhua Ningxia Coal Industry Group Co., Ltd
- Oberon Fuels, Inc.
- Fuel DME Production Co., Ltd
- Grillo-Werke AG
- Guangdong JOVO Group Co., Ltd.
Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Bio-based and Synthetic Dimethyl Ether Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors.
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