Global Dimethyl Ether Market: Overview
The market for dimethyl ether (DME) has been flourishing on the back of incremented efforts across the world to reduce carbon footprint. Dimethyl ether, which can be derived from renewable materials such as municipal waste and biomass as well as natural resources including coal and natural gas, is uncannily similar to LPG and is found in a gaseous state at room temperature. It can be easily liquefied and transported. The favorable characteristics of DME have resulted in creation of significant growth opportunities for the chemical in energy applications over the last decade. According to the projections of this report, the demand in the global dimethyl ether market will increment at a formidable CAGR of 9.6% during the forecast period of 2017 to 2025. The analysts of the report have estimated that the opportunities in the dimethyl ether market, worldwide, will translate into a revenue of US$9,868.1 mn by the end of 2025, considerably up from its evaluated worth of US$4,371.1 mn in 2016.
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The competition in the global dimethyl ether market will predominantly be defined by the ability to provide quality products and capacity to meet growing demand. A fertile battleground, most players will be looking at adopting new technology and roping in a larger workforce for the factory floor and a small pool of strategy makers to stay ahead in the league.
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Favorable Policy and Transport Sector to Sustain Demand
As many as 195 countries across the world have signed the Paris Agreement in 2015, an effort to bring down carbon emissions, and eventually strive to control climate change. While every signatory has to play its part, it is the prominent nations like the U.S., India, China, the U.K. France, Germany, etc. that contribute to more than 50% of the total carbon emissions annually. As a result, most of these nations have set stringent targets to bring down their share of carbon footprint, and to achieve them, they have introduced policies that support the use of natural products. One among them is biofuels. It is these favorable policies that will help sustain growth in the global dimethyl ether market.
On the other hand, the automotive sector too will bestow promise for growth in the coming years. Several car manufacturers across the world are exploring options of hybrid models that run on both diesel and bio-diesel. As efforts to sustain energy requirements from renewable sources gather prominence and receive incentives from government, the demand for dimethyl ether to make biofuels will grow. It is will be prudent for players in the global dimethyl ether market to capitalize on every significant opportunity in the biofuels market.
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Pharmaceutical and Research Industry to Remain Equally Important
While the dimethyl ether market gains prominence from the fresh opportunities opened in the biodiesel market, it is important to note that it is pharmaceutical industry and the scientific fraternity that has sustained the demand for decades. With awareness, investments, and improving research infrastructure, it is evident that the volume of research focused on healthcare and pharmaceutical products will increase in the coming years. At the same time, as biotechnology and allied fields gain importance and research activities in these fields too become prominent, the demand in the global dimethyl ether market will improve.
The above mentioned study is based on a recent Transparency Market Research report titled “Dimethyl Ether Market (Raw Material - Coal, Methanol, and Natural Gas; Application - Aerosol Propellants, LPG Blending, Transportation Fuel, Power Plant Fuel, and Chemical Feedstock) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The key segments of the global dimethyl ether market include:
Raw Material Type
- Coal
- Natural Gas
- Methanol
- Others
Application Type
- Aerosol Propellants
- LPG Blending
- Transportation Fuel
- Power Plant Fuel
- Chemical Feedstock
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