Over the recent years, the dimethyl ether market landscape has been characterized by an increase in research initiatives that are being undertaken by various regulatory organizations. This is because DME is considered as a new generation fuel and can be directly used into a conventional IC (internal combustion) engine without any significant modifications.
One such study was aimed at examining the usage of DME as an alternative fuel for IC engines and efforts for the enhancement of its utilization for meeting regulations pertaining to low emissions and high efficiency. The prominent advantage of DME combustion in IC engines is the low NOx and particulate emissions when compared to the fossil liquid fuel.
In light of similar advancements, dimethyl ether market size is poised to surpass USD 9.87 million until 2027, cites the latest study conducted by Global Market Insights Inc.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/852
Given below are some of the major developments that are anticipated to impel industry expansion across various regions:
Favorable government policies in the Asia Pacific
Numerous governments in the APAC region are taking steps towards formulating policies that could be favorable for dimethyl ether manufacturers. Citing an instance, the Indonesian government has adopted a policy that is focused on the maximization of the country’s coal usage via the downstream process so that the commodity remains a driving force for the national economy in the future.
Under the policy, the governing body has decided to proceed with the conversion of coal into DME and raw material for petrochemical factories, added the Ministry of Energy and Mineral Resources at the Indonesia EBTKE ConEx. Propelled by these factors, the Asia Pacific dimethyl ether industry, which accounted for around 83% of the overall market value in 2020, is expected to expand at a CAGR of 9.6% through 2027.
Increasing funding initiatives in North America
The North America market share is primarily being driven by an escalation in financing initiatives by various regulatory bodies. Considering an instance, in November 2021, the U.S. DOE (Department of Energy) VTO awarded a grant of over USD 4 million for testing the all-new applications of dimethyl ether as a low-carbon option to fossil fuels.
The projects commissioned under this initiative comprise the one led by Illinois-based WM International Engineering L.L.C., and another headed by the University of Wisconsin Madison. Similar programs are expected to provide vital opportunities for product developments across the region.
Request for customization of this report @ https://www.gminsights.com/roc/852
Rising regulatory approvals in Europe
Several regulators in Europe are focusing on granting approvals to dimethyl ether projects, opening opportunities for business expansion across various countries. Quoting an example, in December 2021, UGI International, a subsidiary of UGI Corporation, and SHV Energy secured approval from the European Commission for the creation of a joint venture for advancing the production and deployment of renewable dimethyl ether (rDME).
The move was intended at gaining market acceptance and accelerating the usage of rDME as a renewable solution for the LPG industry. Similar initiatives are touted to strengthen the demand for dimethyl ether fuel, driving business expansion in the region.
All in all, the escalating adoption of biobased DME as aerosol propellants across end-user industries like medical, personal care, and others is expected to propel dimethyl ether market outlook through the forthcoming years.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.