Global Dimethyl Ether Market
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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On the basis of raw material type, the dimethyl ether market has been segmented into natural gas, coal, methanol, and others such as bio-based ingredients. In 2016, the methanol segment accounted for nearly 90% of total demand in the dimethyl ether market in 2016. This strong demand is a reflection of the ease with which DME can be produced using methanol as a raw material. In addition to that, production of DME from methanol is a cost-efficient and easy process. Coal held the next major share of the dimethyl ether market in 2016. The usage of coal as a raw material for the manufacturing of DME leads to pollution, and therefore the segment is losing ground. Production of DME using natural gas is a costly process.
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Application-wise, the market for dimethyl ether has been bifurcated into LPG blending, aerosol propellants, power plant fuel, transportation fuel, chemical feedstock, and others such as refrigerants and production processes that require heat. Currently, LPG blending is the most prominent application of DME, accounting for over three-quarters of the total demand in 2016. Dimethyl ether is an economical fuel type, which is used to deliver energy to remote areas without large capital investment. Increasing threat of shortage of oil and other fuel types across the globe along with possible efficiency of dimethyl ether is projected to boost the demand in the dimethyl ether market. As the gap widens between the refined petroleum products and gas/biomass/coal, which are the raw materials for DME, the economics of DME market is anticipated to improve. A significant rise in the demand for energy has fueled the exploration, production, and recovery of oil and petroleum on a large scale. Dimethyl ether is extensively utilized in the oil industry to enhance the oil recovery and is prominently employed as a drilling and fracturing fluid. Dimethyl ether is also utilized as a substitute for propane in LPG. The blended fuel is used for cooking and other applications in households and industry
Moderately Competitive Vendor Landscape Intensifying
Akzo Nobel NV, Toyo Engineering Corporation, China Energy Limited, Guangdong JOVO Group Co., Ltd, Royal Dutch Shell plc, TOTAL S.A., Ferrostaal GmbH, Oberon Fuels Inc., Praxair, Inc., and Grillo-Werke AG are some of the most prominent companies currently operating in the global dimethyl ether market. While the zest for pole position is moderate among these vendors, there is slender rivalry coming from new entrants. That being said, as several governments are favoring the adoption of cleaner resources of energy and offering subsidies for it, the market is poised to witness entrance of newer players and intensify the competition.