Rising demand of polycarbonate to boost dimethyl carbonate market. Asia Pacific to lead the growth!
- Himanshu Patni
- March 28, 2022
- CHEMICAL, NEWS
- Dimethyl Carbonate Market, Dimethyl Carbonate Market growth, Dimethyl Carbonate Market share, Dimethyl Carbonate Market size, Dimethyl Carbonate Market trends
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Dimethyl Carbonate Market was estimated to be around 822 million in 2020 and is anticipated to display a CAGR of around 6% over the forecast period (2021-2027). Dimethyl carbonate (DMC) is an important industrial chemical. It is also used as a chemical reagent, particularly for methylation and methoxy carbonylation reactions. It is used as an intermediate for making polycarbonate. Polycarbonate has wide applications in manufacturing compact disc, safety helmets, bullet-proof glass, car headlamp lenses, baby feeding bottles, roofing and glazing etc. due to its high strength, lightweight, good chemical and heat resistant. DMC is nontoxic to humans and does not negatively impact the environment, and is also quickly biodegradable, which makes it especially suitable for use as a chemical. Therefore, increasing demand for polycarbonates, battery electrolytes, reagents, and solvents would drive the market for DMC. However, use of highly toxic raw materials for DMC production would hamper the market growth of DMC.
For a detailed analysis of the Global Dimethyl Carbonate Market browse through – https://univdatos.com/report/dimethyl-carbonate-market/
In emerging nations like India, Brazil, and China population is migrating towards urban areas which is driving the growth of construction industry. Additionally, rising disposable income and changing lifestyle is increasing the need for decorative houses. This is leading to increase in demand of construction materials like paints, adhesives & sealants, cement, iron, and steel. With rising construction activities demand of paints would increase thereby propelling the demand of DMC. Further, major key players are adopting different strategies such as acquisition, business expansion, and collaboration in order to survive in highly competitive market. For instance, in 2020, Ube Industries, Ltd., a leading Dimethyl Carbonate producer, announced the establishment of the joint venture company with Mitsubishi Chemical Company to become a lead player in the lithium-ion rechargeable battery electrolyte business.
Novel corona virus has negatively impacted the supply and demand of dimethyl carbonate by suspension of manufacturing units and border closure to stop the spread of virus. Closure of manufacturing units due to pandemic led to reduction in demand for dimethyl carbonate which in used in production of many industrial products
For a detailed analysis of the Covid-19 Impact on the Market browse through – https://univdatos.com/report/dimethyl-carbonate-market/
Based on grade, dimethyl carbonate market is divided into industry, pharmaceutical, and battery grades. The industrial grade sector holds significant market share because it is frequently utilized in the production of polycarbonates. It is also employed as a reagent in insecticides and as a solvent in paints and coatings. The need for industry grade dimethyl carbonate is projected to rise due to the increased need for polycarbonates from end use sectors including automotive and electrical and electronics. Further, battery grade category would grow at a significant rate during the forecast period this is due to rising demand electric vehicles where batteries are widely used.
Based on application, DMC market is divided into polycarbonate synthesis, battery electrolyte, solvents, reagents, and others. Among all, polycarbonate synthesis hold lucrative market share as DMC is used as an intermediate for making polycarbonate, which consumes majority of its production. Further, the growing production of polycarbonate due to rising demand in the automotive and electronic industries would boost the DMC market growth. In addition, growing awareness about the ecofriendly manufacture of thermoplastics has aided DMC production. However, battery electrolyte is likely to grow at a considerable growth rate during the forecast period. This is owing to rising demand for batteries form automotive & transportation sector and energy storage systems as countries are shifting towards green economy by opting clean fuel.
On the basis of end use, DMC market is classified into plastics, paints & coatings, pharmaceutical, battery, agrochemicals, and others. Among all, plastics held prominent market share owing to usage of DMC in the production of polycarbonate resins. Further, dimethyl carbonate is often utilized in the manufacture of antibiotics in the pharmaceutical industry. Furthermore, battery category is likely to grow at an influential growth rate owing to rising demand of batteries in transportation & automotive sector. This is mainly due to countries are increasingly focusing on to decarbonize economy and to achieve their aims pledged in Paris Agreement.
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Additionally, the report provides detailed initiatives that are being taken in the field of dimethyl carbonate. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. The Asia Pacific region hold substantial market share in dimethyl carbonate market. The increasing use of dimethyl carbonate in the manufacture of polycarbonate in emerging countries is fueling demand in this region. Growing demand for lithium-ion batteries from the electronics and automotive industries is projected to boost the lithium-ion battery electrolyte industry, and thereby propelling the demand of dimethyl carbonate thus market is projected to grow at a significant growth rate. Further, the market is characterized by the presence of several market players that are catering to a wide range of customers in the region. These players adopt various strategies to remain competitive in the market and gain a competitive advantage over other players operating in the market.
Global Dimethyl Carbonate Market Segmentation
Market Insight, by Grade
- Industry Grade
- Pharmaceutical Grade
- Battery Grade
Market Insight, by Application
- Polycarbonate Synthesis
- Battery Electrolyte
Market Insight, by End Use
Market Insight, by Region
- North America
- Asia Pacific
- Rest of World
Top Company Profiles
- Ube Industries, Ltd.
- Kowa Company Ltd.
- Shandong Shida Shenghua Chemical Group Co. Ltd.
- Guangzhou Tinci Materials Technology Co. Ltd.
- Haike Chemical Group Ltd.
- Arrow Chemical Group Corp.
- Panax Etec Co. Ltd.
- Henan GP Chemicals Co. Ltd.
- WEGO Chemical Group
- Connect Chemicals GmbH