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Global Dimethyl Ether Market will translate into a revenue of US$9,868.1 million by the end of 2025
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LPG Blending Most Prominent Application
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.
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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.
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