Dimethyl Ether (DME) Market Share, Trends, Size, Growth Factors, 2023
Dimethyl Ether Market Global Research Report by Raw Materials (Natural Gas, Coal, Biomass, and Others), by Application (Transportation Fuel, Aerosol Propellant, LPG Blending, and Others), by Region till 2023
Dimethyl Ether (DME) Market Overview:
The clean, colorless characteristics of dimethyl ether have rendered it capable of application in range of sector. Market intensive reports associated with the chemicals and materials industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The market is projected to develop at a progressive CAGR per cent during the forecast period.
The usage of dimethyl ether as a replacement for propane in liquid petroleum gas is one of the most commonly observed use which is responsible for a major chunk of demand that the market experiences. As the gas can be easily liquefied and transported, the demands of the consumers easily can be met easily by the manufacturers. As DME can be produced from an assortment of sources that are available abundantly such as coal, natural gas, forest products, etc. the supply and demand ratios are balanced considerably, opening new avenues for the progress of the market. Aerosol propellant applications are likely to initiate a phase of fruitful gains in the market in the duration of the forecast period. Improved emphasis on clean and renewable energy sources have ensured that there are many investments opportunities on projects cost optimize and to utilize DME as an alternative fuel to LPG.
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Dimethyl Ether (DME) 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 contract’s worth of USD 23.3 Billion.
Methanex has been making progress toward its $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.
Jan 2017 Mack Trucks are creating a renewed interest in Dimethyl Ether which is a diesel alternative which is clean burning. They are conducting with new field tests which are to be carried out in partnership with New York City’s sanitation department and Oberon Fuels. The test will include a Class 8 Mack Pinnacle tractor which has a thirteen liter engine started the trial recently and is planned to continue for a number of weeks of evaluation.
Dimethyl Ether (DME) Market Key Players:
The odds for growing revenue inflow in the business are likely to multiply through the forecast period. Aspects of the market related to pricing power and profit margins are expected to contribute in a major way to the revenue attractiveness of the market. Costs involved in targeting potential customers are expected to be reasonable so as to be conducive to the expansion of the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The room for development in the market seems to be promising through the forecast period. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates. Localization is among of the more preferred trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The key trends and players have established a positive tone for development.
The eminent players in market are Mitsubishi Corporation (Japan), Akzo Nobel N.V. (the Netherlands), China Energy Limited (China), Oberon Fuels (U.S.), Ferrostaal GmbH (Germany), Zagros Petrochemical Company (Iran) The Chemours Company (U.S.) and Royal Dutch Shell plc (the Netherlands) to name a few.
Dimethyl Ether (DME) Market Regional Analysis:
Dimethyl Ether Market is divided into five key regions including, Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific is the fastest growing market among them due to growing paints & coatings and household fuel in the region. India and China are the major markets in this region on account of the presence of major end use industries. Europe is holding a comparatively smaller share in the Global Dimethyl Ether Market.
Countries namely, Germany, U.K, and Italy are the key contributors to the regional market in this region owing to the growing demand of Dimethyl Ether by end use industries such as automotive, wherein the product is majorly used in the form of paints and lacquer. Apart from this, there is a significant presence of key players which may help push growth of the regional market forward. North America is closely following Europe, in terms of market size, in the Global Dimethyl Ether Market. U.S. is the largest market in this region, which is attributed to the growing reconstruction activities along with the chemicals industry.
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