Dimethyl Ether Market Size By Raw Material, By application, and Geography Scope And Forecast
Dimethyl Ether Market Size And Forecast
Dimethyl Ether Market was valued at USD 7.72Billion in 2019 and is projected to reach USD 26.91 Billion by 2027, growing at a CAGR of 16.8% from 2020 to 2027.
Global Dimethyl Ether Market Outlook
The DME market is growing healthy owing to its less hazardous nature and improved quality. DME has the compounds clean-burning property which is the major factor to drive the market over other gases like gasoline, diesel, and LPG. Also, the constant growth in the automobile market in China and other Asia-Pacific countries is expected to fuel the demand for DME over the forecast period. The demand-supply scenario in particular regions of Asia-Pacific countries is also affecting the prices of DME. For the promotion purpose, some of the key producers are taking the initiative that will also increase the market of Dimethyl Ether over the forecast period.
The company named AB Volvo has recently developed the fuel engine in which the DME is used and it is aligned with the European Union. A number of different technologies are used for DME production including the fuel injection system. It requires a huge amount of investment that can hamper the growth of the DME market. Dimethyl Ether is also used in applications including welding and brazing operations, chemical feedstock, and many others. Also, a continuous increase in diesel consumption will also affect the market growth of the DME. A blending of 20% DME with the LPG gas is used for household activities and it is likely to boost the market demand of DME.
Global Dimethyl Ether Market Competitive Landscape
The Global Dimethyl Ether Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as ENN Group Company, Akzo Nobel N.V., Korea Gas Corp, Oberon Fuels, The Chemours Company, Royal Dutch Shell Plc., and China Energy Limited.
Global Dimethyl Ether Market Segment Analysis
Dimethyl Ether Market is segmented into Raw Material, By application, and Geography.
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