Dimethyl Ether Market worth $12.81 Billion by 2030 - Exclusive Report by The Insight Partners

Pune, India, Oct. 04, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Dimethyl Ether Market Size, Share, Growth Factors, Opportunity and Forecast to 2030 – COVID-19 Impact and Global Analysis – by Application and Geography,” the dimethyl ether market size was valued at US$ 6.22 Billion in 2022 and is expected to reach US$ 12.81 Billion by 2030; it is estimated to register a CAGR of 9.5% from 2022 to 2030. The dimethyl ether market growth is attributed to the rising demand for dimethyl ether from the LPG blending, clean transportation fuel, aerosol propellant, and chemical industry.

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Global Dimethyl Ether Market: Competitive Landscape and Key Developments

Nouryon Chemicals Holding BV, Shell Plc, Mitsubishi Gas Chemical Co Inc, The Chemours Co, Aerosolex, Oberon Fuels Inc, Merck KGaA, Jiangsu July Chemical Co Ltd, Sichuan Lutianhua Co Ltd, and Grillo-Werke AG are among the players operating in the global dimethyl ether market. The global dimethyl ether market players focus on providing high-quality products to fulfill customer demand.

Dimethyl Ether Market Report Scope, Segmentations, Regional & Country Scope:

In 2022, North America accounted for the largest portion of the global dimethyl ether market share. The rising focus on research and development of DME is favoring the market expansion in North America. In 2021, the US Department of Energy Vehicle Technologies Office (VTO) awarded more than US$ 4 million in funding to test varied DME applications as a low-carbon alternative to fossil fuels. Moreover, in 2022, the US government invested in infrastructure, technology, and manufacturing to reduce greenhouse gas emissions by 50–52% by 2030. The region witnessed rising utilization and production of renewable and recycled carbon DME. Several regional companies are involved in developing commercial-scale waste-to-methanol production and methanol-to-DME production. Further, the rising utilization of DME for LPG substitution and feedstock in the chemical industry is anticipated to boost the dimethyl ether market growth.

Increasing Demand for Dimethyl Ether from LPG Blending Sector Propels Dimethyl Ether Market Growth

In recent years, the demand for dimethyl ether (DME) as a blending component with liquified petroleum gas (LPG) has increased for several reasons. This trend is driven by the desire to enhance the properties of LPG, making it a more efficient and environmentally friendly fuel option. Blending DME with LPG offers numerous benefits that cater to economic and environmental considerations. LPG is already recognized as a relatively clean-burning fossil fuel, but the addition of DME further improves its combustion characteristics. DME has a high cetane number, which enhances the ignition quality of the fuel. When blended with LPG, it promotes more complete combustion, resulting in reduced emissions of harmful pollutants, including particulate matter, sulfur compounds, and nitrogen oxides (NOx). This cleaner combustion aligns with stricter environmental regulations and the global push toward reducing air pollution and greenhouse gas emissions.

Dimethyl Ether Market: Segmental Overview

Based on application, the dimethyl ether market is segmented into aerosol propellants, LPG blending, transportation fuel, power generation fuel, chemical feedstock, and others. The LPG blending segment held the largest share of the market in 2022. The transportation fuel segment is expected to record the highest CAGR from 2022 to 2030. DME is blended with liquefied petroleum gas (LPG) for cooking and heating applications. DME blending up to 20% volume with LPG requires no equipment or distribution network modification. The preference for DME blending with LPG for domestic application is increasing, specifically in developing countries. For instance, in 2022, the Oil Minister of India encouraged the blending of DME with liquified petroleum gas due to rising demand for fuel used for domestic applications. The rising demand for a renewable substitute for LPG has prompted manufacturers to boost renewable DME production. Due to all these factors, the LPG blending production segment dominates the market.

Key Developments

• In January 2021, Mitsubishi Corp launched commercial operations at its methanol and dimethyl ether (DME) plant in Trinidad and Tobago. The plant has an annual production capacity of 1 million tonnes of methanol and 20,000 metric tons of DME. The plant began operating commercially on 18 December 2020. The plant is run by Caribbean Gas Chemical Ltd (CGCL).
• In May 2021, Oberon Fuels, producer of clean-burning dimethyl ether (DME) transportation fuel, began production of the renewable DME (rDME) in the US, and the only current commercial production.
• In February 2023, NextChem and its subsidiary MyRechemical (Maire Tecnimont Group) signed an agreement with Dimeta B.V. to explore new opportunities to develop plants for the production of renewable and recycled carbon dimethyl ether (DME) from waste.
• In February 2022, SHV Energy and UGI International, a subsidiary of UGI Corporation, a distributor of off-grid energy, launched a joint venture named Dimeta B.V. to advance the production and use of Renewable Dimethyl Ether (“rDME”), a low-carbon sustainable liquid gas, to accelerate renewable solutions for the LPG industry.

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Impact of COVID-19 Pandemic on Dimethyl Ether Market

Before the COVID-19 pandemic, the dimethyl ether market was mainly driven by the increasing use of dimethyl ether in LPG blending, aerosol propellant, and chemical sectors. However, due to the pandemic, governments of various countries across the globe imposed country-wide lockdowns that directly impacted the growth of the industrial sector. The shutdown of production facilities negatively impacted the dimethyl ether market growth in 2020. The disruptions in the supply chain of dimethyl ether resulted in increased costs of dimethyl ether in different regions. However, with the ease of lockdown measures, various industries regained momentum, which increased the demand for dimethyl ether. Further, many economies began reviving with the resumption of operations in different sectors in 2021. These factors are driving the dimethyl ether market growth with the rise in demand from various sectors.

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