Dimethyl Ether (DME) Market Profitable Business Opportunities 2023-2035
Research Nester published a report titled “Dimethyl Ether Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global dimethyl ether market in terms of market segmentation by raw material, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global dimethyl ether market is anticipated to grow with a CAGR of ~9% during the forecast period, i.e., 2023-2035. The market is segmented by raw material into fossil fuel-based, and bio-based. Out of these, the fossil fuel based segment captured the largest market share by 85% in the year 2022. Suitability of direct usage in conventional internal combustion engines (ICs) requiring no significant changes along with the surge in exports of internal combustion piston engines is anticipated to augment segment growth during the forecast period.
The global dimethyl ether market is estimated to garner revenue of ~USD 22 Billion by the end of 2035, up from revenue of ~USD 8 Billion in the year 2022. The increasing number of LPG plants, rapid industrialization, rising exportation of aromatic ethers, and an upsurge in demand for hybrids and electric vehicles coupled with the growth of the chemical industry worldwide are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global dimethyl ether market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific captured the largest market share of 80% in the year 2022 backed by the cost-effective and easy availability of raw materials, coupled with increasing use of dimethyl ether in gasoline and LPG blending. Moreover, government initiatives to expand the growth of the chemical sector in the region are further anticipated to fuel the regional market during forecast period. Accordingly, the Indian Department of Chemicals and Petrochemicals received approximately USD 27 million from the Union Budget 2022-23.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Rising Demand For Hybrid And Electric Vehicles to Drive the Market Growth
Approximately 13,34,000 electric vehicles are operating in India, and nearly 27,80,50,000 non-electric vehicles
Dimethyl ether (DMEs) is increasingly used in hybrid and electronic vehicles. Several properties of dimethyl ether make it a desirable fuel for diesel engines. Both DMEs and diesels have similar energy efficiency and power ratings. Thus the rising adoption of DMEs in vehicles is expected to drive market growth during the forecast period.
However, high cost of production is expected to operate as key restraint to the growth of global dimethyl ether market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global dimethyl ether market which includes company profiling of Mitsubishi Corporation, Air Products and Chemicals, Inc., Nouryon Chemicals Holding B.V., Shell plc, Praxair Technology, Inc., Akzo Nobel N.V., Dongguan JOVO Chemical Co., Ltd., Ferrostaal GmbH, Chinese Energy Holdings Limited, and TotalEnergies Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global dimethyl ether market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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