Selbyville, Delaware, Oct. 27, 2021 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the Dimethyl Ether Market was estimated at $5.20 billion in 2020 and is slated to exceed USD 9.87 billion by 2027, registering a CAGR of 9.7 % from 2021 to 2027. The report provides a detailed analysis of market size & estimations, drivers & opportunities, top winning strategies, competitive scenario, wavering market trends, and major investment pockets.
Dimethyl ether (DME) has gained massive prominence as a substitute for diesel due to its higher cetane number. Escalating usage of bio-based & synthetic dimethyl ether in the LPG blending industry, wherein it serves as a green energy source, is set to be a key factor driving market growth in the coming years. Moreover, notable developments in DME production and rising emphasis on renewable DME production are slated to further support dimethyl ether market expansion through the forecast period.
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Dimethyl ether is largely produced from fossil fuels, which include coal and natural gas. Abundance of coal and natural gas reserves, mainly in China in the Asia Pacific region, has increased the utilization of DME in wide-ranging applications like industrial, aerosol propellants, transportation fuel, LPG blending, and so forth. In 2020, the fossil fuel-based product segment dominated the global market with about 90% revenue share and is projected to see steady growth over the analysis timeline.
Key reasons for dimethyl ether market growth:
- High product usage in LPG blending applications.
- Prevalent demand as aerosol propellent in diverse industries.
- Mounting product application as sustainable and eco-friendly fuel.
- Booming uptake as aerosol propellent during the COVID-19 pandemic.
2027 forecasts show ‘aerosol propellant’ segment retaining its dominance:
From the application perspective, the aerosol propellant segment is anticipated to hold around 29% share in the market by 2027. DME finds extensive applications as an aerosol propellant in varied end-user industries, including home care, personal care, and pharmaceuticals, as it has several benefits like low odor, low cost, extensive range of boiling points, high stability & purity, environment-friendliness, flammability, and low toxicity. Moreover, DME is used in the pharmaceutical industry for wart removal, in personal care as hair spray, and in home care as air fresheners, which is expected to facilitate segmental growth over the review period.
Asia Pacific to maintain top status in terms of revenue:
On the regional spectrum, the Asia Pacific dimethyl ether market accounted for 83% of the overall industry revenue in 2020 and is estimated to grow at over 9.6% CAGR through 2027. Proliferating domestic automotive industry, particularly in China, is likely to boost product utilization as transportation fuels. Additionally, robust growth of various industries, including pharmaceutical and personal care, in the APAC region is speculated to further drive uptake of DME as an aerosol propellant.
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Impact of COVID-19 pandemic on bio-based & synthetic dimethyl ether market:
The COVID-19 pandemic disrupted essentially all industries across the globe. Meanwhile, due to operations being halted worldwide and increasing instances of natural disasters, there has been an upsurge in concerns regarding climate change. Identifying alternative fuels that have a lower environmental impact than diesel has become vital for reducing carbon emissions and ultimately establishing a circular fuels economy.
DME is considered a sustainable alternative to diesel for use in compression ignition (CI) engines and can be made using an array of waste feedstocks, which prevents the entrance of new fossil carbon in the supply chain. Furthermore, DME’s low CO2, NOx, and particulate matter (PM) emissions have driven product demand as an efficient solution to curb climate change in recent years.
Leading market players
Some prominent players operating in the global dimethyl ether industry are Akzo Nobel NV, Ltd., Grillo-Werke AG, Royal Dutch Shell PLC, China Energy Ltd., Mitsubishi Corporation, Guangdong JOVO Group Co., Oberon Fuels, Inc., Fuel DME Production Co., Ltd., and The Chemours Company, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
