Foralmost two decades, governments and global bodies have been mulling the needfor biofuels that can be a feasible replacement for fossil fuels. Consistentresearch efforts coupled with financial aids from policy makers and oilcompanies, several biofuel products have entered the market recently. And, itis on the behest of this trend that the global dimethyl ethermarket isexpected to soar at 9.6% CAGR between 2017 and 2025, finds a recent report byTransparency Market Research report.
Thereare two aspects that support the use of dimethyl ether in the biofuelsindustry. One – the lower amount of carbon emissions when burnt, and two – theavailability of it both synthetically and through natural resources. With theseadvantages, it allows end-users to opt for dimethyl ether from channels thatsuit best for their requirements, creating multiple growth avenues for theglobal dimethyl ether market. TMR analysts predict that the global dimethylether market will reach US$ 9,868.1 mn by 2025 riding on the opportunities frombiofuel manufacturers.
Thecompetition in the global dimethyl ether market will predominantly be definedby the ability to provide quality products and capacity to meet growing demand.A fertile battleground, most players will be looking at adopting new technologyand roping in a larger workforce for the factory floor and a small pool ofstrategy makers to stay ahead in the league.
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FavorablePolicy and Transport Sector to Sustain Demand
Asmany as 195 countries across the world have signed the Paris Agreement in 2015,an effort to bring down carbon emissions, and eventually strive to controlclimate change. While every signatory has to play its part, it is the prominentnations like the U.S., India, China, the U.K. France, Germany, etc. thatcontribute to more than 50% of the total carbon emissions annually. As aresult, most of these nations have set stringent targets to bring down theirshare of carbon footprint, and to achieve them, they have introduced policiesthat support the use of natural products. One among them is biofuels. It isthese favorable policies that will help sustain growth in the global dimethylether market.
Onthe other hand, the automotive sector too will bestow promise for growth in thecoming years. Several car manufacturers across the world are exploring optionsof hybrid models that run on both diesel and bio-diesel. As efforts to sustainenergy requirements from renewable sources gather prominence and receiveincentives from government, the demand for dimethyl ether to make biofuels willgrow. It is will be prudent for players in the global dimethyl ether market tocapitalize on every significant opportunity in the biofuels market.
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Pharmaceuticaland Research Industry to Remain Equally Important
Whilethe dimethyl ether market gains prominence from the fresh opportunities openedin the biodiesel market, it is important to note that it is pharmaceuticalindustry and the scientific fraternity that has sustained the demand fordecades. With awareness, investments, and improving research infrastructure, itis evident that the volume of research focused on healthcare and pharmaceuticalproducts will increase in the coming years. At the same time, as biotechnologyand allied fields gain importance and research activities in these fields toobecome prominent, the demand in the global dimethyl ether market willimprove.
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Companies inthe global dimethylether market have increasingly shifted gears withwide application of digital technology across the continuum, from raw materialsourcing to manufacturing to generation of final output, to warehousing tofinal distribution operations. Among the various affects, the market iswitnessing new growth economics due to thinning of line between specialty andcommodity businesses that are associated with the larger ecosystem. At the sametime, new growth parameters are being vigorously being debated as industrystakeholders put greater emphasis on the circular economy processes.
Thesustainability aspects have dramatically changes the raw material sourcingstrategies for many businesses in the globaldimethyl ether market. Players have become moreresponsible toward reducing or managing the waste, are adopting materialinformatics equipped with artificial intelligence (AI), and adoptingenergy-efficient production processes in order to maximize returns on investedcapital.
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