New York, USA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Dimethyl Carbonate (DMC) Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Dimethyl Carbonate (DMC) Market Information by Grade, Application, End Use, And Region - Forecast till 2030”, the market is estimated to grow at a 6.2% CAGR to reach USD 1.8 Billion by 2030.
Market Synopsis
Dimethyl carbonate is a versatile chemical with admirable properties, high solubility, and low toxicity. It is a chemical substance with a pallid look that is combustible and odorless. It has a high level of chemical reactivity. Before, dimethyl carbonate was created by the interaction of methanol with phosgene, but because of phosgene's extreme toxicity, different processes, such as transesterification or copper catalysis, are now used to create the chemical. There are numerous uses for dimethyl carbonate in end-use industries. Due to its advantageous chemical properties, dimethyl carbonate is frequently employed as a solvent in the paint and coatings industry.
The market need for dimethyl carbonate will increase due to the rising demand for lithium-ion batteries. Portable electricity is a feature offered by lithium-ion batteries, which power devices like mobile phones, computers, and tablets. They also provide power for power tools and medical equipment. In the fields of manufacturing, energy storage, mining, and other industries, lithium is regarded as a necessary material. Lithium-ion batteries provide backup power in an emergency when there is a power outage or fluctuation.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 1.8 Billion |
| CAGR | 6.2% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Grade, Application, End Use, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | High production of polycarbonate |
| The paints and coating industry, which has more demand for eco-friendly paints |
Market Competitive Landscape:
The central contenders for the dimethyl carbonate market are:
- Panax Etec (Korea)
- Ube Industries Ltd. (Japan)
- Arrow Chemical Group Corp. (China)
- Merck KGaA (Germany)
- Shandong Shida Shenghua Chemical Group Co., Ltd. (China)
- Kowa Company Ltd. (Japan)
- Haike Chemical Group (China)
- Kishida Chemical Co. Ltd. (Japan)
- Guangzhou Tinci Materials Technology Co., Ltd. (China)
Market U.S.P. Covered:
Market Drivers:
Dimethyl carbonate is one of the ideal organic chemicals for usage in various end-use industries due to its non-toxicity, biodegradability, and high solvency. As a result, it is gradually replacing other chemicals such as xylene, benzene, ethyl, and acetone as a solvent, which is considered to be one of the key causes in the growth of the dimethyl carbonate market. Additionally, due to the current development in the building industry, its application in paints and coatings is predicted to fuel the expansion of the dimethyl carbonate market. Acids and phenols are not produced during the manufacture of polycarbonate. As polycarbonate needs increase in the electronics and automotive sectors, more orders are placed, and the demand for DMC products rises.
DMC production is growing daily as it manages the environmentally friendly production of thermoplastics. The DMC market also works to maintain environmental health, a big plus for expanding naturally in the international market. As a result, the paints and coatings business, which has increased demand for eco-friendly paints, is another important driver. Numerous market participants have entered the worldwide dimethyl carbonate market due to the growing demand from these sectors.
Market Restraints:
The requirement for dimethyl carbonate is increasing globally, but the producers are running into some difficulties that are expected to impede the expected expansion. Dimethyl carbonate makers are subject to strict licensing requirements, which makes it difficult for manufacturers to obtain licenses and may ultimately harm growth. During the forecast period, it is also projected that difficulties in implementing cutting-edge technology to create a desirable process environment will hinder the growth of the dimethyl carbonate market.
Browse In-depth Market Research Report (163 Pages) on Dimethyl Carbonate (DMC) https://www.marketresearchfuture.com/reports/dimethyl-carbonate-market-5486
COVID 19 Analysis
The dimethyl carbonate market is one of the industries being impacted by the continuing epidemic. Due to their inability to supply their goods to all the countries during this shutdown, the important players suffered enormous losses in their businesses. The dimethyl carbonate market vendors have implemented new strategic plans to increase consumer demand, but suddenly things have changed. They launched various changed items in response to COVID-19 consumer needs, which enabled them to accomplish their objective. The major firms have assumed significant responsibility for promoting their market niches and regaining their standing in the international market. The ongoing COVID-19 scourge is negatively impacting the market for dimethyl carbonate. Given that Chinese businesses employ polycarbonate and lithium battery manufacturing extensively, the emerging virus is disrupting supply chains and harming the Chinese economy. In most nations where COVID-19 cases are on the rise, there is a state of lockdown, which has caused manufacturing facilities to stop operating until the virus passes temporarily.
Market Segmentation
By grade, the market consists of battery grade, industrial grade, and pharmaceutical grade. By end use, the market consists of plastic, medical, agrochemicals, paints & coatings, and electronics. The market consists of lithium battery, pharmaceuticals, polycarbonate, solvent, pesticides, and fuel additive by application.
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Regional Insights
The increasing demand for polycarbonate in the region's automotive and electronics industries is expected to make Asia-Pacific one of the main forces in the worldwide dimethyl carbonate market. One of the key drivers of the dimethyl carbonate market's expansion in the area is an increase in per capita income. In North America, the demand for DMC significantly increased after it was taken from the VOC list. The projection period is expected to see significant growth in Europe and North America due to the widespread usage of environmentally friendly chemicals as intermediates. Demand for dimethyl carbonate in the region is anticipated to increase throughout the coming years due to the significant increase in the use of polycarbonates in the Asia-Pacific.
Due to a rise in demand for dimethyl carbonate in multiple end applications like cleaning products, adhesives, paints and coatings, pesticides, and lithium-ion batteries in the region, the dimethyl carbonate market in Asia-Pacific is anticipated to grow at a promising rate during the forecast period. The spike in demand for coatings and paints from the building industry is expected to lead the demand for dimethyl carbonate in LAMEA to continue growing steadily. As a result, it is projected that the global market for dimethyl carbonate will increase strongly and steadily during the coming years.
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