December 31, 2019
According to the research report titled ‘Synthetic and Bio-based Dimethyl Ether (DME) Market Size By Raw Material (Fossil Fuel Based, Bio-based), By Application (LPG Blending, Aerosol Propellants, Transportation Fuel, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Trinidad & Tobago, South Africa, Saudi Arabia, UAE, Iran, Qatar), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global synthetic and bio-based dimethyl ether (DME) market is expected to be worth USD 10.8 billion by the year 2025.
Dimethyl ether (DME) is a versatile compound and can be used in various applications such as domestic heating cooking, power generation, industrial procedures, and automotive fuels. It is eco-friendly, cost effective and can be produced from various sources. Rising adoption of DME as it limits effluence of NOx and PM and helps to reduce the carbon foot-print is majorly driving bio-based & synthetic DME market.
Favorable federal reforms regarding emission mitigation is aiding the expansion of the market. Growing focus towards alternative sources of fuel in automotive industry is also stimulating the industry outlook. Dimethyl ether can be used as an alternative compound to produce numerous chemicals namely olefins. Hence, surging investments by various companies to achieve carbon neutrality is leading to technological advancements in chemical production processes, thereby fueling the market growth.
As per material type, fossil fuel-based DME segment is expected to register considerable growth during the forecast period. Growing need for such materials as alternate transportation fuel and LPG mixing compound are contributing to the popularity of the material across the globe.
Based on application spectrum, aerosol propellants segment is dominating the synthetic and bio-based dimethyl ether market. Aerosol propellants are extensively used in various industries such as coatings, pharmaceutical and cosmetics.
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Considering geographical landscape, Asia-Pacific holds the largest share in synthetic and biobased DME market due to rising adoption of sustainable energy solutions and high presence of key industry players across the region. Furthermore, rapid urbanization, in tandem with growing need for cooking fuel is augmenting the demand for DME compounds across the region.
The prominent companies operating in synthetic and bio-based dimethyl ether market are Guangdong JOVO Group Co. Ltd., Grillo-Werke AG, Fuel DME Production Co. Ltd., Oberon Fuels, Inc., Shenhua Ningxia Coal industry Group Co., Mitsubishi Corp., Royal Dutch Shell PLC, Korea Gas Corp., China Energy Ltd., and Akzo Nobel NV among others.
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