Sellbyville, DE -- (SBWIRE) -- 11/12/2018 -- Dimethyl Ether Market is forecast to reach USD 11 billion according to this new research report.Growing demand for liquified petroleum gas for domestic as well as commercial applications will be the chief growth driver for the dimethyl ether (DME) market over the forecast duration. LPG is blended with dimethyl ether for domestic applications such as heating and cooking. Increasing popularity of cleaner, eco-friendly and safer fuel for cooking will drive the industry growth by 2024. Moreover, oil price hikes and increasing butane and propane prices has driven LPG demand over the recent years. Increasing LPG demand, blended with DME, for domestic applications will propel product demand for the forecast timeframe.

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Conventional fuel injection & delivery systems are not compatible for DME use, as the product has no lubrication properties. Hence, diesel engines require a fuel-tolerant system or must find ways for necessary lubrication. These factors may pose challenges to Dimethyl Ether Market growth in the coming years.
Fossil fuel segment of Dimethyl Ether Market shall expand at CAGR close to 8% in terms of volume. Ample natural gas availability coupled with diesel price hikes shall prove beneficial for Dimethyl Ether Market growth in the coming years. However, strict government regulations for clean energy may hamper dimethyl ether market growth over the next few years.

Bio-based Dimethyl Ether Market shall witness gains close to CAGR 11% in terms of volume. Bio-based DME is environment friendly as it does not emit sulphur oxides, mercury, nitrous oxides and other hazardous air pollutants, which makes it highly desirable as a substitute fuel to diesel in compressed ignition diesel engine. Additionally, the product is gaining popularity as aerosol propellant in domestic applications sector, which will positively influence Dimethyl Ether Market growth in the coming years.

In 2016, aerosol propellants segment was valued more than USD 1 billion. It offers versatile properties such as low odor and toxicity and its eco-friendly characteristics shall boost overall product demand for the forecast timeframe. Transportation fuel segment shall witness significant gains around 14% CAGR over the next few years owing to its decent ignition quality and high cetane number.

In 2016, U.S DME market was worth more than USD 300 million. This can be attributed to increasing bio-based DME acceptance across the region due to its low emission characteristics. Europe is likely to witness gains close to 10% CAGR in the forecast timespan. Automakers investment in R&D towards low emitting vehicles shall drive this regional dimethyl ether industry in forecast period. For example, Ford Motors announced investments in R&D close to USD 3.5 million for innovations in internal combustion engines with environment compatibility, similar to electric vehicles.

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Asia Pacific, led by China and India, has a major share in global dimethyl ether market in 2016, in terms of both, production and consumption. It is majorly due to the increasing product usage in domestic applications in this region. Furthermore, booming industrial sector in Japan with huge capacities shall positively influence the DME market growth during forecast period.

In 2016, global dimethyl ether Dimethyl Ether Market was competitive. Major industry players are AkzoNobel NV, Mitsubishi Corporation, China Energy Ltd, Shenhua Ningxia Coal Industry Group Company, Royal Dutch Shell PLC, Fuel DME Production Company Limited and Korea Gas Corporation. Other prominent players are Guangdong JOVO Group Company Limited, Oberon Fuels Inc. and Grillo-Werke AG.

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