BEIJING, Nov. 24, 2022 (GLOBE NEWSWIRE) — The Global Bio-Based and Synthetic Dimethyl Ether Market The size accounted for USD 10.3 billion in 2021 and is expected 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, synthetic dimethyl ether is used as a feedstock in beautifully structured start diesel engines due to its higher cetane number, which results in better starting in pressure engines. It is an alternative to diesel and a cleaner source of energy that protects the environment from harmful contamination. Expanding car sales, reducing the need for an affordable fuel substitute, and expanding R&D activities of major players to develop good DME engines will thus support the development of the industry by 2030.
Bio-Based and Synthetic Dimethyl Ether Market Statistics
- The global market value of bio-based and synthetic dimethyl ether was USD 10.3 billion in 2021 and is expected to grow at a CAGR of 9.4% from 2022 to 2030
- Asia Pacific Bio-Based and Synthetic Dimethyl Ether Market Revenue Surpasses 80% Market Share in 2021
- North America Bio-based and Synthetic Dimethyl Ether Market Growth to Register a Substantial CAGR of over 10% from 2022 to 2030
- Among commodities, fossil fuels gathered about 68% share in 2021
- Growing demand for greener fuels is a global bio-based and synthetic dimethyl ether market trend driving industry demand
Growth factors of the bio-based and synthetic dimethyl ether market
- Growing environmental concerns
- Growing demand in end-use industries
- Increased adoption in GPL 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||$10.3 billion|
|Bio-Based and Synthetic Dimethyl Ether Market Forecast 2030||$22.9 billion|
|Bio-Based and Synthetic Dimethyl Ether Market CAGR from 2022 to 2030||9.4%|
|Bio-Based and Synthetic Dimethyl Ether Market Analysis period||2018 – 2030|
|Bio-Based and Synthetic Dimethyl Ether Market Year of reference||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, Middle East and Africa|
|Profiled Key Companies||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 cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
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Segmentation of the bio-based and synthetic dimethyl ether market
The global bio-based and synthetic dimethyl ether market is segmented into raw materials, applications, and regions. The global bio-based and synthetic dimethyl ethers market is divided into two commodity-based segments: 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 applications. The global bio-based and synthetic dimethyl ether market is divided into Europe, Latin America, North America, Middle East & Africa, and Asia-Pacific.
Bio-based and synthetic dimethyl ether market share
Bio-based products are created by not hydrating methanol, while products made from non-renewable energy sources come from dead plants and creatures. Petroleum-based dimethyl ether accounted for around 85% of the market in 2021 and is expected to grow at an undeniable pace in the coming years. The main reason for the large share of DME based on petroleum products is the abundance of flammable gas reserves below the earth’s surface, which can be efficiently recovered with advanced technology.
LPG blending accounted for the largest DME share of the entire 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 applications of unblended LPG in domestic heating and cooking. Government and sub-national administrative bodies have enacted strict condition laws to encourage LPG blending as it emits less toxins into the environment.
Aerosol propellants will experience phenomenal growth in the coming years, with a CAGR of over 8.5% over the forecast period. The development of the better than expected segment can be attributed to its wide applications in pharmaceutical, home care, personal care, paints and coatings, etc. Constructive development advice for individual consideration, consideration for the home and the paints and coatings industry in Europe will increase the demand for items for the application of force sprayed over the digit range. Additionally, strong pharmaceutical development in North America will increase the market estimation of bio-based and manufactured dimethyl ether aerosol propellants by 2030.
Regional growth of the bio-based and synthetic dimethyl ether market
In 2021, Asia-Pacific accounted for more than 80.4% of the global dimethyl ether market. Growing 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 period. Furthermore, the major efforts by the Indian government to phase out lamp fuel by DME, along with the increasing urbanization of the district, present brighter demand prospects for the product in the LPG blend. Europe was the second largest donor in 2021. The product has been widely accepted as an alternative fuel for pressure start engines in Europe, which will most likely boost the regional dimethyl ether market share during the forecast period.
In terms of volume and revenue, 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 future distant. Latin American countries will most likely see a slight increase in the product market over the forecast period, owing to the growing demand for products 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 some of the major players in the global bio-based products market and market synthetic dimethyl ether.
Questions this report answers
- What was the market size of Bio-Based and Synthetic Dimethyl Ether (DME) Market in 2021?
- What will be the CAGR of the bio-based and synthetic dimethyl ether (DME) market during the forecast period from 2022 to 2030?
- Who are the key players in the global bio-based and synthetic dimethyl ether (DME) market?
- Which region held the largest bio-based and synthetic dimethyl ether (DME) market share in 2021?
- What are the key market drivers of Bio-Based and Synthetic Dimethyl Ether (DME) Market?
- Who is the largest end-user of the Bio-Based and Synthetic Dimethyl Ether (DME) market?
- What will be the market value of bio-based and synthetic dimethyl ether (DME) in 2030?
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