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 dimethylether market is expected to soar at 9.6% CAGR between 2017and 2025, finds a recent report by Transparency Market Research report.
There aretwo aspects that support the use of dimethyl ether in the biofuels industry.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
As many as195 countries across the world have signed the Paris Agreement in 2015, aneffort to bring down carbon emissions, and eventually strive to control climatechange. While every signatory has to play its part, it is the prominent nationslike the U.S., India, China, the U.K. France, Germany, etc. that contribute tomore than 50% of the total carbon emissions annually. As a result, most ofthese nations have set stringent targets to bring down their share of carbonfootprint, and to achieve them, they have introduced policies that support theuse of natural products. One among them is biofuels. It is these favorablepolicies that will help sustain growth in the global dimethyl ethermarket.
On theother 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 receive incentivesfrom government, the demand for dimethyl ether to make biofuels will grow. Itis will be prudent for players in the global dimethyl ether market tocapitalize on every significant opportunity in the biofuels market.
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Pharmaceutical and Research Industryto Remain Equally Important
While thedimethyl ether market gains prominence from the fresh opportunities opened inthe 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 adopting energy-efficientproduction processes in order to maximize returns on invested capital.
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