Chicago, June 20, 2024 (GLOBE NEWSWIRE) -- The Dimethyl Carbonate Market is projected to grow from USD 1.1 billion in 2023 to USD 1.9 billion by 2028, at a CAGR of 12.7% in terms of value, as per the recent study by MarketsandMarkets™. The demand for dimethyl carbonate as a key ingredient in battery electrolytes is experiencing significant growth. The expanding market for electric vehicles and renewable energy technologies further drives the growth of the DMC market are the key drivers for the dimethyl carbonate market.
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564 - Market Data Tables
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List of Key Players in Dimethyl Carbonate Market:
- UBE Corporation (Japan)
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (US)
- Lotte Chemical (South Korea)
- Kowa Company Ltd. (Japan)
- Kishida Chemical Co. Ltd. (Japan)
- Tokyo Chemical Industry Co. Ltd. (Japan)
- Shandong Shida Shenghua Chemical Group Co. Ltd. (China)
- Guangzhou Tinci Materials Technology Co. Ltd.
Drivers, Restraints, and Opportunities in Dimethyl Carbonate Market:
- Driver: Increasing demand for polycarbonate from various industries
- Restrain: Use of highly toxic raw material for dimethyl carbonate synthesis
- Opportunity: Dimethyl carbonate as an oxygenated fuel additive
- Challenge: Significant fluctuations in oil & gas prices
Key Findings of the Study:
- Based on the application, the polycarbonate synthesis segment will hold the most significant share during the forecast period.
- Based on grade, industrial grade is expected to be the largest dimethyl carbonate market segment during the forecast period.
- Based on end-use industry, plastic is expected to be the largest segment of the dimethyl carbonate market during the forecast period.
- Asia Pacific is projected to hold the most significant market share during the forecast period.
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Based on the end-use industry, the dimethyl carbonate market is segmented into plastics, paints & coating, pharmaceuticals, batteries, agrochemicals, and others. The growth of the dimethyl carbonate market in the battery sector is driven by the compound's safety benefits, environmental considerations, and its role in advancing battery technology to meet the growing demand for electric vehicles worldwide.
By application, the dimethyl carbonate market is segmented into polycarbonate synthesis, battery electrolytes, solvents, reagents, and others. The growth of DMC usage in polycarbonate synthesis is fueled by its environmental advantages, regulatory compliance, process efficiency, and the market demand for high-performance and sustainable materials. As industries continue to prioritize sustainability and efficiency, DMC is expected to play an increasingly important role in the production of polycarbonate and other key polymers.
Based on grade, the dimethyl carbonate market is segmented into industry grade (>99.0 weight %), pharmaceutical grade (>99.5 weight %), and battery grade (>99.9 weight %). The industry grade dimethyl carbonate market is poised for continued growth as industries across pharmaceuticals, chemicals, energy storage, and other sectors recognize its versatility, environmental benefits, and performance advantages.
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The dimethyl carbonate market in the Asia Pacific region is projected to hold the most significant market share. The Asia-Pacific region, particularly countries like China, India, Japan, and South Korea, hosts a rapidly growing chemical industry. This growth is fueled by factors such as urbanization, industrialization, and increasing disposable incomes. Dimethyl carbonate finds extensive applications in various segments of the chemical industry, including pharmaceuticals, agrochemicals, and fine chemicals. The region's burgeoning chemical sector creates a substantial demand for DMC as a key raw material, contributing to market growth.
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