Global Dimethyl Carbonate Market Size to Grow USD 1563.24
New York, U.S., Oct. 11, 2022 (GLOBE NEWSWIRE) — The Global dimethyl carbonate market size is expected to grow from USD 840.83 million in 2021 to USD 1,563.24 million by 2030 at a CAGR of 6.4% during the forecast period 2021-2030. according to the latest research report published by Spherical knowledge and advice. The North America market is expected to grow at the fastest CAGR between 2021 and 2030. The United States is the second largest producer of polycarbonate plastics and articles.
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Dimethyl carbonate (DMC), an organic molecule with the chemical formula OC (OCH3)2, is non-toxic and suitable for environmental use. It is a non-polar aprotic solvent which cannot denote hydrogen but has highly homogeneous mixing, rapid biodegradability and no toxicity. Dimethyl carbonate can be produced by several methods, but the two most frequently used across a wide range of industries are carbon dioxide and methanol. There are many uses for dimethyl carbonate. Polycarbonate, a plastic known for its excellent dielectric strength, impact resistance and optical clarity, is made from it. Dimethyl carbonate is becoming increasingly popular as it is used as an electrolyte in lithium-ion batteries, which are used in plug-in hybrid electric vehicles, laptops, desktop computers and cell phones. To traditionally produce dimethyl carbonate, dangerous by-products like sodium chloride and harmful gases like carbon monoxide and phosgene must be produced. Strength, thermal stability, chemical and thermal resistance, and dimensional stability are all characteristics of polycarbonate that make it ideal for use in a variety of applications. These applications include electronics, automotive, building and construction, consumer goods and medical. As a result, polycarbonate is one of the most frequently used engineering thermoplastics. As the demand for polycarbonate grows in various industries, the global production capacity will increase. China is the largest producer of polycarbonate, a substance used in the construction and automotive industries.
Browse key industry information spread across 198pages with 134 market data tables and The figures & graphics report “Global Dimethyl Carbonate Market SizeShare and COVID-19 Impact Analysis, By Application (Battery Electrolyte, Solvents, Polycarbonate Synthesis and Reagents), End-Use Industry (Paints and Coatings, Pharmaceuticals and Plastics), Category (Pharmaceutical, Battery and Industrial) , and by region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), analysis and forecasts 2021 – 2030” in detail with the table of contents
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The production of the plastic polymers used in this business is driven by rising consumer spending on electronics and vehicles and rising incomes. Dimethyl carbonate is used in various industries and has many applications. Due to the quantity and variety of uses, dimethyl carbonate is in high demand. In traditional manufacturing, dangerous gases like phosgene and carbon monoxide are used to produce dangerous by-products like sodium chloride. Most of the product consists of extremely toxic substances which, even in small doses, can lead to death or serious health problems. Sodium chloride, when produced in large quantities, can damage the environment when released. One of the reasons limiting the growth of the dimethyl carbonate market is the prevalence of the methanol phosgenation technique among the international producers. Applications can replace fuel and cleaning agents by increasing dimethyl carbonate components. By improving the use of dimethyl carbonate as a solvent in the synthesis of polymers, flavoring agents and insecticides, manufacturers in the dimethyl carbonate market are seizing additional opportunities.
This research report categorizes the Dimethyl Carbonate market based on various segments and regions, forecasts revenue growth, and analyzes trends of each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the Dimethyl Carbonate market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included to draw the competitive landscape of the market. The report identifies and strategically profiles key market players and analyzes their core competencies in each sub-segment of the Dimethyl Carbonate market.
On the basis of end users, the dimethyl carbonate market is categorized into paints & coatings, pharmaceuticals, and plastics. In 2021, the plastics segment dominated the market with the largest market share of 42% and revenue of 353.14 million. It acts as an intermediate in the synthesis of polycarbonates. PC has become well known as a commercial polymer with many applications in industries such as electronics, electrical and automotive, which are also recyclable and environmentally friendly. The use of dimethyl carbonate is expected to increase globally due to the growing demand for plastic products, especially those made from polycarbonate.
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The Asia-Pacific region’s need for lithium-ion batteries for the electronics and automotive industries has been a major driver for the expansion of the lithium-ion battery electrolyte market. For this reason, there has been an increase in the demand for polycarbonate synthesis in countries like China and Japan and an increase in the demand for dimethyl carbonate in the region.
The North America market is expected to grow at the fastest CAGR between 2021 and 2030. The United States is the second largest producer of polycarbonate plastics and articles. Due to its high production volume, the country is expected to continue to be a major consumer of dimethyl carbonate. During the projected period, the country is expected to hold around 89% of the dimethyl carbonate market share in all of North America. The manufacture of lithium-ion batteries has also increased due to increased production of electric automobiles in the United States. Dimethyl carbonate sales are expected to increase accordingly in the coming years.
Key companies and recent developments: The report also provides elaborate analysis focusing on current business news and developments, including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances and others. This helps to assess the overall competition in the market. List of Major Market Players: Kowa Company Ltd, Kishida Chemical Co. Ltd., Ube Industries Ltd., Shandong Shida Shenghua Chemical Group Co. Ltd., Haike Chemical Group, Zhejiang Petrochemical Co., Ltd., Guangzhou Tinci Materials Technology Co Ltd., Hefei TNJ Chemical Industry Co., Ltd., Tangshan Chaoyang Chemical Co., Ltd., Qingdao Aspirit Chemical Co., Ltd. Balaji Amines, Henan GP Chemicals Co. Ltd., Aceto Corporation, Connect Chemicals, Kindun Chemical Co., Limited, Silver Fern Chemicals and others.
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