Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Dimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (Industrial Grade, Battery Grade, Pharmaceutical Grade, Others), By Method of Preparation, By Application, By End Use, By Region" report has been added to ResearchAndMarkets.com's offering.
Global dimethyl carbonate market is expected to grow at an impressive rate through 2028.
Increased focus on carbon capturing & utilization approach results in conversion of CO2 for its production, electrical & electronics area, and other important factors are the many key drivers which expand the market quickly.
Furthermore, the growing demand for pesticides, solvents, pharmaceuticals, paint & coatings, and others are the essential factors that raise the market's growth. Apart from that, the market is mostly driven by organizational activities, increased R&D investment, and government regulations on trade and export. Consumer inclinations to select new technologies to maximize profit are fueling market expansion. Consequently, it is predicted that the global dimethyl carbonate market will expand throughout the forecast period.
Increasing Adoption of Battery Grade
In the current scenario, global warming is one of the major issues in the world. The main source behind this is fossil fuels. A large number of greenhouse gases in the environment result in a change in the climate cycle which ultimately generates so many issues like pollution, melting of glaciers, etc. To overcome this problem, many industrialists and researchers focus on alternate sources of energy. In the following years, much research in the same field is going on but the exact solution still needs to be made available. Many innovative ideas are welcome to sort out this issue.
One of the best innovative ideas which get a boom in today's market is E-vehicles, as E-vehicles do not require any fossil fuel and not generates any harmful gases. But E-vehicle needs a battery for their running, so the main concern now arises regarding the battery. Today lithium-ion batteries are used in the automobile industry as a source of power for electric, hybrid, or plug-in hybrid electric vehicles.
Besides, these batteries can store large amounts of energy and can be recharged. They offer a better charging capacity and a longer lifespan. Consumption of dimethyl carbonate will rise as a result of rising lithium-ion battery demand. Mobile phones, computers, and tablets are powered by lithium-ion batteries, which offer the convenience of portable electricity.
Power tools and medical equipment are also given energy by them. In mining, energy storage, manufacturing, and other industries, lithium is regarded as a staple material. During power outages and fluctuations, lithium-ion batteries provide emergency backup power. To avoid data loss, computers and other office machinery like IT servers must run continually. According to the announcement in December 2019, India Energy Storage Alliance (IESA), Indian EVs market will grow at a CAGR of 36% by 2026.
Increasing Demand for Polycarbonate is Driving the Market
The increased manufacturing of polycarbonate has increased the demand for dimethyl carbonate on a global scale. Acids and phenols are not produced during the manufacturing of polycarbonate. As the need for polycarbonate increases in the automotive and electronics sectors, more orders are placed and the demand for dimethyl carbonate products rises. Polycarbonate help in the environmentally friendly manufacture of thermoplastics, which helps to increase the production of dimethyl carbonate regularly. The dimethyl carbonate market also strives to maintain environmental health, which is a big plus for expanding naturally in the international market.
Additionally, the growing demand for agrochemicals, pharma, and plastics are crucial factors responsible for market growth. Thus, the need for the global dimethyl carbonate market is expected to rise in the forecast period.
Increasing focus on Paint & Coating
As a result, the paint and coating business, which has increased the 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.
Since dimethyl carbonate is one of the best replacements of that solvents in paint which causes Volatile Organic Compounds emission and environmental effects, therefore it became a top focus for many industries. It has a lot of demand right now on the international market.
Report Scope:
In this report, global dimethyl carbonate market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Dimethyl Carbonate Market, By Grade:
- Industrial Grade
- Battery Grade
- Pharmaceutical Grade
- Others
Dimethyl Carbonate Market, By Method of Preparation:
- Phosgenation of Methanol
- Oxidative Carbonylation of Methanol
- Transesterification of Urea
- Direct Synthesis from CO2 & Methanol
Dimethyl Carbonate Market, By Application:
- Polycarbonate
- Solvents
- Reagents
- Others
Dimethyl Carbonate Market, By End Use:
- Plastics
- Paint & Coatings
- Pharmaceuticals
- Batteries
- Agrochemicals
- Others
Dimethyl Carbonate Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Netherlands
- Russia
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Taiwan
- Thailand
- South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Dimethyl Carbonate Market Outlook
6. North America Dimethyl Carbonate Market Outlook
7. Europe Dimethyl Carbonate Market Outlook
8. Asia-Pacific Dimethyl Carbonate Market Outlook
9. South America Dimethyl Carbonate Market Outlook
10. Middle East and Africa Dimethyl Carbonate Market Outlook
11. Market Dynamics
11.1. Drivers
11.1.1. Increasing use of Dimethyl Carbonate in the Chemical Industry
11.1.2. Replace toxic chemical and use as fuel additive
11.1.3. Reduce carbon emission and greater green chemical output
11.2. Challenges
11.2.1. Fluctuations in price of oil & gas increase raw material cost
11.2.2. Technical difficulties involved in producing the desired grade of DMC
12. Market Trends & Developments
13. Global Dimethyl Carbonate Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
A selection of companies mentioned in this report includes
- UBE Industries LTD.
- Shandong Shida Shenghua Chemical Group Co., Ltd.
- KOWA American Corporation
- Qingdao Aspirit Chemical Co., Ltd.
- Shandong Haike Chemical Industry Group Co Ltd.
- Shandong Depu Chemical Industry Science & Technology Co., Ltd.
- Dongying City Longxing Chemical Co., Ltd.
- Shandong Feiyang Chemical Co., Ltd.
- Alfa Aesar
- Hefei TNJ Chemical Industry Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dfoufz
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