Global Dimethyl Ether Market by Raw Materials (Natural Gas, Coal, Biomass, and Others), by Application (Transportation Fuel, Aerosol Propellant, LPG Blending, and Others), by Region till 2023
Pune, India -- (SBWIRE) -- 08/17/2018 -- Market Insights
The growing urgency of developing viable clean energy resources is a critical factor that promotes the growth of the Global Dimethyl Ether (DME). Fabricated using various methods, this compound is organic and a highly competent solution in a variety of fuel applications. A highly popular use for DME is as a propellant in aerosol products such as hairspray and insect spray. Its potential as a fuel source has prompted high investments in research and development to make it feasible on a global scale.
Market Research Future (MRFR), has recently published a thoroughly detailed report which provides exclusive insights on market trends, opportunities, and restraints. MRFR's data analysts have predicted a significant CAGR for the forecast period of 2017 to 2023. DME's potential to replace petroleum products during the forecast period is a highly motivating factor that will drive the market.
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Presently, the increasing use of DME in LPG blending carries a lot of promise. Due to their similar nature, DME can be combined with LPG to provide a clean-burning fuel alternative. DME is expected to replace diesel for fuel in diesel engines and gas turbines. This is further expected to increase demand and as a result, market growth. Moreover, it is more affordable to blend LPG with DME as the former is cheaper. DME's applications as an aerosol propellant make it ideal for use in aerosols across different industries including paint & coatings.
The fluctuating prices of DME, massive investments in infrastructure, low performance over long-term use and lack of export and trading infrastructure are expected to pose challenges for the market. However, encouraging government support for the development of a clean-burning energy source is likely to drive growth. Ongoing research and development in DME and the requirement for export infrastructure will likely present growth opportunities during the forecast period.
The Global Dimethyl Ether Market has been segmented by Type, Applications and Region.
By Type, the market has been segmented into natural gas, coal, methanol, bio bases and others.
By Application, the market has been segmented into LPG blending, aerosol propellant, transportation fuel and others.
By Region, the market has been segmented into the Americas, Europe, the Asia-Pacific and the Middle East & Africa.
The Asia-Pacific is the most sizable and fastest growing regional market during the forecast period. This growth can be attributed to the rapidly growing paints and coatings industry in the region which commonly uses DME as an aerosol propellant. It is also used as household fuel in this region. Countries such as India and China are expected to contribute significantly to market growth. China is an emerging economy to watch in the DME Market due to the abundant coal in the region and the increasing production of automobiles in the country.
Europe has the second largest global market share. Developed economies in the region such as Germany, U.K., and Italy are predicted to be the largest contributors to market growth during the forecast period. The presence of eminent market players who are investing in research & development to advance DME applications further is an essential factor boosting growth in this region.
The Americas are expected to witness a steady growth due to the presence of market leaders in the region and a growing demand for DME as a clean fuel alternative. The U.S is the largest contributor of growth in the region. Gradual changes in the political and economic scenario in tumultuous Latin American countries such as Columbia is expected to assist market growth in the region.
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The Middle East and Africa carry an immense potential for investment in DME and the subsequent opportunities in various end-use industries. The region is predicted to display a significant CAGR during 2017 - 2023.
Latest Industry News
Indonesia and China have recently signed five contracts under the Silk Road Economic Belt and 21st Century Maritime Silk Road initiatives. The cooperation contracts include the development of facilities which convert coal into dimethyl ether. The project is worth a USD700 million piece of the total contracts worth of USD 23.3 billion.
Methanex has been making progress toward it's $1 billion expansion of its Geismar plant which is slated for design and engineering planning by 2019. The company moved two methanol plants from Chile to Geismar in 2014, by 2019 they hope to begin building a third unit. Methanol is an alternative fuel which a crucial component of Dimethyl Ether.