A rise in the adoption of similar studies is expected to augment dimethyl ether market size over the coming years. According to the latest report published by Global Market Insights Inc., the industry size is likely to surpass USD 9.87 million until 2027.
An increase in research activities is poised to create favorable ground for dimethyl ether market contenders over the forthcoming years. According to researchers at King Abdullah University of Science and Technology (KAUST), blending ammonia with a small amount of DME provides a liquid fuel with low-temperature combustion properties that are analogous to gasoline.
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The study was intended at finding the optimal promoter that offers the best performance in terms of emission reduction and efficiency improvement while being added in as small of a fraction as possible. The team depicted that DME could be one such promoter.
Some of the pivotal trends that are estimated to propel the business scenario across various regions have been mentioned below:
- Increasing establishment of joint ventures in Europe
Several dimethyl ether manufacturers and companies in Europe are proceeding with the formation of joint ventures for strengthening their market position. Considering an instance, in December 2021, UGI International and SHV Energy secured the approval of the European Commission for the formation of a joint venture for enhancing the usage and production of renewable dimethyl ether.
The proposed JV would mark a significant step that would be beneficial for both parties. The step is expected to accelerate the deployment of rDME as a renewable product for the LPG sector.
- Favorable government initiatives in the APAC
Asia Pacific dimethyl ether market accounted for around 83% of the overall industry share in 2020 and is expected to expand at a CAGR of 9.6% over 2021 to 2027. The rise can be attributed to an increase in the formulation of favorable government policies in the region.
Quoting an instance, in November 2021, the Indonesian government announced plans to continue with the maximization of coal usage in the country via the downstream process. The government would turn coal into DME.
The solution would be used for the replacement of Coal Syngas (synthetic gas) and LNG (Liquified Natural Gas) and can be utilized for petrochemical plant needs, fertilizers, and methanol. Similar instances are anticipated to drive business growth over the forthcoming years.
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- Increase in funding activities in North America
North America dimethyl ether market share is poised to record appreciable expansion through 2027. Citing an instance, in November 2021, the U.S. Department of Energy (DOE) Vehicle Technologies Office (VTO) awarded funds of over USD 4 million for testing the deployment of novel DME as a low-carbon alternative to fossil fuels. The project was supported by Oberon Fuels, Inc.
Korea Gas Corporation, Grillo-Werke AG, Mitsubishi Corporation, Oberon Fuels, Inc., China Energy Ltd., The Chemours Company, Shenhua Ningxia Coal Industry Group Co., Guangdong JOVO Group Co., and others are some of the prominent participants in the dimethyl ether market. These companies are centered on the adoption of a range of strategic steps such as mergers, product developments, acquisitions, and others for the consolidation of their industry position.
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