Acumen Research and Consulting recently published report titled “Bio-Based and Synthetic Dimethyl Ether Market Report and Region Forecast, 2022 - 2030”
BEIJING, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The Global Bio-Based and Synthetic Dimethyl Ether Market Size accounted for USD 10.3 Billion in 2021 and is projected to occupy a market size of USD 22.9 Billion by 2030 growing at a CAGR of 9.4% from 2022 to 2030.
Bio-based and synthetic dimethyl ether is used as a raw material fuel in splendidly structured start diesel motors because of its higher cetane number, which provides a better start in pressure motors,. It is an alternative to diesel and a cleaner source of energy that protects the environment from harmful contaminations. Expanding car sales, squeezing the need for an affordable fuel substitute, and expanding R&D activities from key players for developing DME good motors will thus support industry development by 2030.
Bio-Based and Synthetic Dimethyl Ether Market Statistics
- Global bio-based and synthetic dimethyl ether market value was USD 10.3 Billion in 2021 and expected to grow at CAGR of 9.4% from 2022 to 2030
- Asia-Pacific bio-based and synthetic dimethyl ether market revenue over 80% market share in 2021
- North America bio-based and synthetic dimethyl ether market growth will register substantial CAGR of over 10% from 2022 to 2030
- Among raw material, fossil fuel based gathered approximately 68% of the shares in 2021
- Growing demand for greener fuels is a global bio-based and synthetic dimethyl ether market trend driving the industry demand
Bio-Based and Synthetic Dimethyl Ether Market Growth Factors
- Rising environmental concerns
- Growing demand in end-use industries
- Increasing adoption in LPG applications
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Bio-Based and Synthetic Dimethyl Ether Market Report Coverage:
| Market | Bio-Based and Synthetic Dimethyl Ether Market | |
| Bio-Based and Synthetic Dimethyl Ether Market Size 2021 | USD 10.3 Billion | |
| Bio-Based and Synthetic Dimethyl Ether Market Forecast 2030 | USD 22.9 Billion | |
| Bio-Based and Synthetic Dimethyl Ether Market CAGR During 2022 - 2030 | 9.4% | |
| Bio-Based and Synthetic Dimethyl Ether Market Analysis Period | 2018 - 2030 | |
| Bio-Based and Synthetic Dimethyl Ether Market Base Year | 2021 | |
| Bio-Based and Synthetic Dimethyl Ether Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Raw Material, By Application, And By Geography | |
| Bio-Based and Synthetic Dimethyl Ether Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Guangdong JOVO Group, China Energy Ltd., Grillo-Werke AG, Akzo Nobel NV, Mitsubishi Corporation, Royal Dutch Shell, Shenhua Ningxia Coal Industry Group, Korea Gas Corporation, and Oberon Fuels. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
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Bio-Based and Synthetic Dimethyl Ether Market Segmentation
The global market for bio-based and synthetic dimethyl ether is divided into raw material, application, and region. The global bio-based and synthetic dimethyl ether market is divided into two segments based on raw material: fossil fuel-based and bio-based. The global bio-based and synthetic dimethyl ether market is divided into four applications: LPG blending, aerosol propellants, transportation fuel, and industrial. The global bio-based and synthetic dimethyl ether market is divided into Europe, Latin America, North America, the Middle East and Africa, and Asia-Pacific.
Bio-Based and Synthetic Dimethyl Ether Market Share
Bio-based products are created by not hydrating methanol, whereas non-renewable energy source based products are delivered from dead plants and creatures. Petroleum-based dimethyl ether accounted for roughly 85% of the market in 2021 and is expected to grow at an unmistakable rate in the coming years. The primary reason for the large petroleum product-based DME share is the abundance of flammable gas reserves beneath the earth's surface, which can be effectively recovered with advanced technology.
LPG blending accounted for the largest DME share of the overall industry in 2021 and will see critical demand in the coming years. LPG blending has been supported primarily in Asia-Pacific to reduce poisons in the environment caused by unblended LPG applications in heating and cooking for domestic purposes. Government and sub national administrative bodies have enacted stringent condition laws to encourage LPG blending because it emits fewer toxins into the environment.
Aerosol propellants will experience tremendous growth in the coming years, expanding at a CAGR of more than 8.5% during the figure period. Better than expected segment development can be attributed to its broad applications in pharmaceutical, home care, personal care, paints and coatings, and so on. Constructive development hints for individual consideration, home consideration, and the paints and coatings industry in Europe will increase item demand for vaporised force application over the figure range. Furthermore, solid pharmaceutical development in North America will increase the market estimate for bio-based and manufactured dimethyl ether aerosol propellants by 2030.
Bio-Based and Synthetic Dimethyl Ether Market Regional Growth
In 2021, Asia Pacific accounted for more than 80.4% of the global dimethyl ether market. Rising demand for LPG-based products for residential cooking in APAC countries such as India, China, and Indonesia will drive the Asia Pacific bio-based and synthetic dimethyl ether (DME) market in the forecast time frame. Furthermore, significant efforts by the Indian government to eliminate lamp fuel by DME, as well as the district's growing urbanization, present more brilliant need perspectives for product in LPG blending. Europe was the second largest donor in 2021. Product has gained widespread acceptance as an alternative fuel for pressure start motors in Europe, which will most likely drive the regional dimethyl ether market share over the forecast period.
In terms of volume and income, North America ranked third in the global dimethyl ether market in 2021. The district's high demand for aerosol propellant will help the market share in the not-too-distant future. Latin American countries will most likely see a slight increase in the product market over the forecast time frame, owing to rising product demand for modern applications in the region.
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Bio-Based and Synthetic Dimethyl Ether (DME) Market Players
Akzo Nobel NV, China Energy Ltd., Guangdong JOVO Group, Grillo-Werke AG, Korea Gas Corporation, Mitsubishi Corporation, Royal Dutch Shell, Shenhua Ningxia Coal Industry Group, and Oberon Fuels are among the major players in the global bio-based and synthetic dimethyl ether market.
Questions Answered By This Report
- What was the market size of Bio-Based and Synthetic Dimethyl Ether (DME) Market in 2021?
- What will be the CAGR of Bio-Based and Synthetic Dimethyl Ether (DME) Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Bio-Based and Synthetic Dimethyl Ether (DME) Market?
- Which region held the largest share in Bio-Based and Synthetic Dimethyl Ether (DME) Market in 2021?
- What are the key market drivers of Bio-Based and Synthetic Dimethyl Ether (DME) Market?
- Who is the largest end user Bio-Based and Synthetic Dimethyl Ether (DME) Market?
- What will be the Bio-Based and Synthetic Dimethyl Ether (DME) Market value in 2030?
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