PUBLISHER: SkyQuest | PRODUCT CODE: 1183333
PUBLISHER: SkyQuest | PRODUCT CODE: 1183333
Global Dimethyl Ether Market was valued at USD 4.59 billion in 2021, and it is expected to reach a value of USD 8.92 billion by 2028, at a CAGR of more than 9.95% over the forecast period (2022- 2028).
Over the projection period, the demand for dimethyl ether will be driven by China's rapidly expanding automotive sector. Additionally, the region's market will profit from China's easy access to coal reserves. Additionally, the government of the area has established a number of environmental rules that will favorably affect the development of DME. These laws primarily combat hazardous emissions, which are thought to drive the market as a whole.
Top-down and bottom-up approaches were used to estimate and validate the size of the global dimethyl ether market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Dimethyl Ether Market is segmented based on the Raw Material, Application, and region. Based on the Raw Material, the Global Dimethyl Ether Market is segmented as natural gas, coal, methanol, and other. Based on Application, the Global Dimethyl Ether Market is segmented as transportation fuel, aerosol propellant, LPG blending, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
Over the forecast period, it's expected that the global dimethyl ether market will expand. The total market is projected to grow as a result of changing customer preferences and growing environmental concerns that favour less hazardous and better quality products. DME is an organic substance without colour. The vehicle market is anticipated to undergo significant changes as a result of its ongoing industry growth. During the projected period, the market will typically alter as dimethyl ether replaces gasoline, diesel, LPG, and kerosene. The main factor most likely to influence the market is the compound's ability to burn cleanly.
Restraint
To comply with industrial requirements rather than residential and commercial ones, gas handling equipment as well as the entire distribution system must be completely upgraded. The move will cost manufacturers and distributors a lot of money. It forbids the commercial usage of larger volume dimethyl ether combinations. There is currently effort being done to produce a unified system of valves, gaskets, and cylinders for mixtures of pure liquefied petroleum gas and dimethyl ether.
Market Trends
The demand-supply situation in specific places has an impact on DME price trends.
The main applications for the DME include replacing diesel, use as an aerosol propellant, electricity generation, and LPG through blending. The compound is mostly used in areas where LPG is inaccessible. Key producers are implementing actions to increase demand for dimethyl ether over the anticipated period in order to promote DME. A gasoline engine has recently been created by AB Volvo. These engines are primarily DME-based and collaborate with the EU. Different technologies are necessary for the manufacturing of DME. The usage of a fuel injection system is one of the fundamental technologies. It also needs significant investment, and it's anticipated that it will become the main issue on the global market. However, DME's poor effectiveness when used for an extended period of time is anticipated to impede market expansion.