Dimethyl Ether Market size to grow by USD 8,326.35 million from 2022 to 2027

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28 Jul, 2023, 18:45 ET

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NEW YORK, July 28, 2023 /PRNewswire/ -- The dimethyl ether market size is estimated to grow by USD 8,326.35 million from 2022 to 2027, at a CAGR of 14.44%, according to a recent market study by Technavio. APAC is estimated to account for 87% of the market growth. One of the rapidly growing markets for DME manufacturing and consumption is the APAC region. Factors such as increasing domestic blending requirements, with exports remaining marginal, are significantly contributing to the market growth in the region. Furthermore, the rising concerns over fluctuating crude oil prices, energy consumption, and population density, resulting in severe energy insecurities in several countries across the region are expected to fuel the demand for DME in APAC. Hence, such factors are expected to drive the dimethyl ether market in the region during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Dimethyl Ether Market - Segmentation Assessment

Segment Overview

The market is segmented by application (LPG blending, transportation fuel, aerosol propellant, and others), source (coal, natural gas, methanol, and biomass), and geography (APAC, Europe, North America, and the Rest of the World (ROW)).

The market share growth by the LPG blending segment is significant during the forecast period.LPG blending mainly involves the use of DME as a fuel additive in liquefied petroleum gas (LPG) to improve its combustion properties. DME is essentially a colorless gas that may be produced from different types of feedstocks including natural gas, coal, and biomass. LPG comprises a mixture of propane and butane which is widely utilized as a cooking and heating fuel. The main application of DME in the LPG segment is that it enhances the combustibility of LPG leading to cleaner and more efficient combustion. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Dimethyl Ether Market - Market Dynamics

Key factor driving market growth

The abundant availability of raw materials is a major factor driving the global dimethyl ether (DME) market growth during the forecast period. Some of the various sources by which the DMT can be manufactured include natural gas, coal, biomass, and pure and crude methanol. The main raw materials of methanol are natural gas, coal, and renewable resources such as municipal solid waste, biomass, and recycled carbon dioxide. These raw materials are widely available and naturally abundant, which is positively impacting the market growth. For instance, some of the key countries with a significant presence of coal reserves include Russia, China, Australia, and India. Hence, such factors are expected to drive the global Dimethyl Ether (DME) market growth during the forecast period.

Leading trends influencing the market

The rising adoption in emerging countries is a key trend in the global dimethyl ether (DME) market during the forecast period. Some of the key countries which are significantly contributing to the high adoption of DME include India, Indonesia, Brazil, and China. Additionally, In India, there is an increasing focus on the use of DME (to blend with LPG) in order to reduce the prices of LPG. Furthermore, there is significant infrastructure development in China for a DME production base for residential use. In India, the rising population is leading to the increasing use of automobiles. Hence, in order to minimize the dependency on petrochemicals, there is an increasing focus on the adoption of the DME market. Hence, such factors are expected to drive the global dimethyl ether (DME) market growth during the forecast period.

Major challenges hindering the market growth

Fluctuating methanol prices is a significant challenge hindering the growth of the global dimethyl ether market during the forecast period. DME can be manufactured from a variety of sources such as biomass, methanol, and fossil fuels. As there is intensive competition in the global methanol market, the price of methanol-related products is majorly influenced by supply and demand fundamentals. For instance, in 2021, there was a significant decrease in the prices of crude oil and related products reducing the affordability of various energy-related applications for methanol. Hence, factors such as new supply additions, the strength of the global economy, global energy prices, industry operating rates, and the strength of global demand are influencing methanol prices. Thus, such fluctuations are expected to negatively impact the market which in turn will hinder the global dimethyl ether market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)- Request a sample report!

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Dimethyl Ether Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 14.44%

Market growth 2023-2027

USD 8326.35 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.81

Regional analysis

APAC, Europe, North America, and the Rest of the World (ROW)

Performing market contribution

APAC at 87%

Key countries

US, China, South Korea, Japan, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aerosolex, Akzo Nobel NV, Grillo Werke AG, Haldor Topsoes Alle1, JGC Holdings Corp., Linde Plc, LyondellBasell Industries NV, Mitsubishi Gas Chemical Co. Inc., Nouryon Chemicals Holding BV, Oberon Fuels Inc., PCC Rokita SA, S and P Global Inc., Shell International B.V., The Chemours Co., thyssenkrupp AG, Toyo Engineering Corp., and Zagros Petrochemical Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Source

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio