Albany, NY -- (SBWIRE) -- 03/05/2018 -- The analysts of a recent business publication by Transparency Market Research (TMR) have detected a moderately competitive scenario in the global dimethyl ether market, although the vendor landscape is expected to intensify quickly in the near future as the product is gaining popularity as a strong substitute against traditional fossil fuel. The common pledge among several developed and developing economies is to reduce carbon footprint and consequently, the adoption of liquefied petroleum gas (LPG) is multiplying.
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As more and more players notice that dimethyl ether offers strikingly similar properties as LPG and can be mixed together for applications across various equipment and machinery, the number of stockholders will increase. As of now, the report has identified Toyo Engineering Corporation, Akzo Nobel NV, Guangdong JOVO Group Co., Ltd, Royal Dutch Shell plc, Ferrostaal GmbH, China Energy Limited, TOTAL S.A., Oberon Fuels Inc., Grillo-Werke AG., and Praxair, Inc. as some of the companies who are ahead of the curve in the global dimethyl ether market.
Global Dimethyl Ether Market to be worth US$9,868.1 mn by 2025
During the forecast period of 2017 to 2025, the TMR report has projected the demand in the global dimethyl ether market to expand at a healthy CAGR of 9.6%. In terms of revenue, the market for dimethyl ether is estimated to provide for opportunities worth US$9,868.1 mn by 2025, substantially up from market's evaluated valuation of US$4,371.1 mn in 2016. In the near future, most of the key players are expected to invest on research and development activities in order to harness the methanol- and natural gas-based dimethyl ether, which is currently commonly produced using coal. In addition to that, strategic collaborations and acquisitions are expected to help the stronger vendors to expand their geographical presence and strengthen their supply network.
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Based on raw material type, the TMR report segments the market for dimethyl ether into coal, natural gas, methanol, and others such as bio-based. Application-wise, the market has been bifurcated into aerosol propellants, LPG blending, power plant fuel, transportation fuel, chemical feedstock, and others including running boilers, refrigeration, and production processes that require heating such as manufacturing of ceramics and glass. Geographically, the analysts have highlighted Asia Pacific as the most lucrative region, providing for more than two-third of the total demand in the global dimethyl ether market.