Bio-Based & Synthetic DME Market to Grow at 8.5% CAGR over 2020-2025 : Akzo Nobel NV, China Energy, Royal Dutch Shell PLC, Mitsubishi Corporation
The growth map of worldwide bio-based and synthetic dimethyl ether (DME) market is anticipated to witness a marked ascent during 2019-2025 owing to the ever increasing use of dimethyl ether across various applications and industries.
Sellbyville, DE -- (SBWire) -- 05/14/2020 --As per the study by Global Market Insights, Inc., the global bio-based & synthetic DME market size is estimated to target an overall valuation of $14.46 billion by the end of seven years in terms of revenue.
Based on the vast application gamut, worldwide bio-based & synthetic DME market size is characterized by the expanding LPG blending sector. This sectoral growth is ascribed to the persistent needs for the reduction of harmful carbon emissions.
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LPG's progressive use in domestic heating and cooking purposes has caused unrelenting release of harmful pollutants in the environment. This toxic emission can be reduced to an extent by LPG blending which involves adding DME to LPG with a purpose to increase the product concentration by over 15 to 20 percent.
Apparently, the worldwide DME industry size for LPG blending accounted an appreciable share of the overall market and is predicted to foster at a CAGR of 7.6 percent through 2025. Furthermore, increasing demand for LPG blending across the APAC region would bolster the bio-based & synthetic DME market share on the grounds of elevating population.
Ever growing population across Asia Pacific, driven by India and China, has supported the region to emerge out as a lucrative growth ground for the bio-based & synthetic DME market. The primary factor complementing the growth is high LPG usage for thse domestic purposes across the region.
High LPG consumption calls out for LGP blending which is of late gaining massive momentum overall to sustain the environmental concerns. Moreover, introduction of favorable regulatory norms in the emerging economies associated to the environment stability is promoting the product penetration leading in the upscale of total bio-based & synthetic DME market revenue.
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The growth map of worldwide bio-based & synthetic DME market is anticipated to witness a marked ascent during 2019-2025 owing to the ever increasing use of dimethyl ether across various applications and industries. Dimethyl ether, being highly eco-friendly and cost-effective, maintains a strong foothold as an efficient alternate for diesel as transportation fuel whilst combating the harmful effects on the human health and environment.
Key players profiled in the bio-based & synthetic DME market like Akzo Nobel NV, China Energy Ltd, Korea Gas Corporation, Royal Dutch Shell PLC, Mitsubishi Corporation, Shenhua Ningxia Coal Industry Group Co., Oberon Fuels, Inc., Fuel DME Production Co. Ltd, Grillo-Werke AG, and Guangdong JOVO Group Co. Ltd.
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