Dimethyl Ether (DME) Market – Overview
The populace of clean energy sources has increased significantly in the recent years. The Dimethyl Ether Market as a result has gained considerable traction in terms of growth. Market Research Future which specializes in market reports related to the chemicals and material sector amongst others lately published a report on this industry. The market is estimated to grow at an advanced CAGR per cent during the forecast period from 2017 to 2023.
The usage of DME as an aerosol propellant in vapor spray coatings and paints has amplified the demand that is being experienced by the sector reasonably. Transportation and Household fuel are expected to impact significantly the growth trajectory of the market in the coming forecast period. This can be primarily attributed to the rise in demand from both these sectors consequently. As the emphasis for clean fuels has risen significantly in the past few years citing extreme climate changes, the DME market is being pitched as an agreeable alternative to conventional fuels.
The Dimethyl Ether Market on the global level is divided on the criteria of raw materials, region and application. The raw materials category in the market consists of coal, natural gas, biomass, and others. The application category of Dimethyl Ether Market comprises of aerosol propellant, liquefied natural gas (LPG) blending, transportation fuel and others. The geographical division of the industry is divided into the following regions including Europe, Asia Pacific, North America, Latin America and Middle East & Africa.
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Detailed Regional Analysis
The Dimethyl Ether industry on a worldwide stage spans regions such as Asia Pacific, Europe, Middle East & Africa, North America and Latin America. The Asia Pacific is a speedily rising market among the other regions owing to increasing paints & coatings and household fuel products in the region. China and India are the main markets in this region because of the presence of key end use industries. The European market is holding a relatively lesser share in the Dimethyl Ether industry globally. Countries such as U.K, Germany and Italy are the main suppliers to the regional sector in this region because of the mounting demand by end use industries such as automotive, in which the product is primarily used in the form of paints and lacquer. Moreover, the presence of key players may significantly help in pushing the development of the regional market ahead. The North American market closely follows Europe, in terms of market size; U.S. is the biggest market in this region, which is accredited to the increasing level of reconstruction activities along with the chemicals industry. The Middle East and African markets are estimated to develop at a considerable CAGR during the forecast period because of the immense investment potential and opportunities for growth in the end use industries such as construction and transportation fuel. The Latin American would join the other players in the industry due to the political and economic scenario in Colombia and Brazil.
Global Competitive Analysis
The competitors in the industry are trying to increase their market share to a considerable size by the effectual employment of their major resources to start growth transformations which can be long lasting. This attitude has enabled trends which are linked to development and are notably volume driven. This has led to a boost in diverse ranges and product forms. The sector’s substantial transformation due to the rapid growth pace has led to experimentation with many plus points. The industry’s long term growth can be utilized upon by constant ongoing process improvements and sustaining financial fluidity to spend in the best strategies when they are available.
The well-known players in Market are Ferrostaal GmbH (Germany),Mitsubishi Corporation (Japan), Akzo Nobel N.V. (the Netherlands), China Energy Limited (China), The Chemours Company (U.S.) and Royal Dutch Shell plc (the Netherlands) to name a few.
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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.
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