Dimethyl Ether Market size worth over $11bn by 2024
Published Date: December 9, 2016 Author: Global Market Insights, Inc.
Dimethyl Ether Market size is poised to exceed USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc.
Increasing product demand as an alternative to conventional fuels is one of the major factors propelling the global dimethyl ether market share over the projected timeframe. It is extensively used in the liquefied petroleum gas (LPG) blending, as the resultant fuel possesses similar characteristics with LPG. LPG is an essential domestic fuel in various applications including cooking and heating. Furthermore, approximately 65% of the DME produced across the globe is used in LPG blending. This trend will subsequently boost the industry growth by 2024.
China is the largest LPG producer, supplier and consumer and hence plays a vital role in the global dimethyl ether market share. In addition, rapidly increasing population in Asia Pacific countries, particularly China & India, has significantly propelled the domestic fuel demand. Furthermore, the industry players in the region has elevated their production capacities, which in turn will drive the global dimethyl ether market size by 2024. After dehydration, methanol can to converted to DME, which can be used in heavy duty application across trucks and ships as a diesel substitute. Methanol also improves combustion proficiency along with minimizing the emissions including carbon monoxide. Increasing awareness along with government legislations towards clean fuel usage in household activities and transportation industry will positively influence the business growth over the projected period.
DME is a fuel with minimum lubricative characteristics, therefore, conventional fuel delivery & injection systems are not companionable with it. This fact may obstruct the global dimethyl ether market size by 2024. Oscillating crude oil price trends, results in increasing LPG prices. This pushes the LPG substitute demand such as DME. For instance, International Organization for Standardization (ISO) had related standards towards product use as a LPG substitute in 2012, which has brought new growth prospects for the industry participants.
Browse key industry insights spread across 125 pages with 143 market data tables & 11 figures & charts from the report, “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, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Potential, Price Trends, Competitive Market Share & Forecast, 2013 – 2024” in detail along with the table of contents:
Key insights from the report include:
- Global dimethyl ether market size is projected to reach USD 11.97 billion by 2024, with estimated gains at 9.9 % CAGR.
- Fossil fuel based dimethyl ether market share is projected to expand at over 8% CAGR in terms of volume. However, strict government legislations regarding clean fuel may hinder the industry growth for the segment.
- Bio-based dimethyl market size is forecast to experience highest gains at over 11% CAGR over the projected timeframe. Rising awareness accompanied with escalating clean fuel demand across transportation and domestic applications will stimulate the business growth by 2024.
- In 2015, the global dimethyl ether market share for aerosol propellants generated revenue more than USD 1 billion. Relatively low cost, stability & purity, extensive boiling point & vapor pressures range, low odor, low toxicity, efficiency & versatility, flammability and ecofriendly characteristics makes the product desirable for its use as aerosol propellants.
- The global dimethyl ether market size for transportation fuel is estimated to witness highest growth over 14% CAGR by 2024. Stringent government norms towards minimizing carbon emissions produced from automotive will complement industry growth over the forecast timeframe.
- In 2015, North America, led by the U.S., was valued at over USD 300 million. Rising product acceptance in the region owing to low emissions traits is the major factor contributing the regional dimethyl ether market size.
- In 2015, Asia Pacific, mainly led by China, dominated the global dimethyl ether market share. Growing population in India and China along with escalating product usage across domestic purposes were the prominent growth factors.
- In 2015, the global dimethyl ether market share was competitive. Some of the industry share contributors are Akzo Nobel NV., Korea Gas Corporation, China Energy Ltd, Royal Dutch Shell PLC and Mitsubishi Corporation.
Dimethyl ether market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
Global Dimethyl Ether Market By Raw Material
- Fossil fuel based
Global Dimethyl Ether Market By Application
- LPG blending
- Aerosol propellants
- Transportation fuel
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa