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Dimethyl Carbonate Market Size, Share, Growth | Covid -19 Impact Analysis, Demand And Forecast 2023
Dimethyl Carbonate Market:
Dimethyl Carbonate (DMC) is a non-toxic, transparent, and versatile chemical which, as a compound can mix with almost all organic solvents. Market Research Future (MRFR) has published a research report about the global dimethyl carbonate market that predicts growth for this market between 2016 and 2023.The major market driving factor for the Dimethyl Carbonate Industry growth is the expanding polycarbonate market. Due to the changing behavioral pattern of consumers due to rapid industrialization and urbanization, the regional automotive and electronic sectors are experiencing a boost.
Indirectly, this boost is generating demand for dimethyl carbonate as well. Demand for DMC is in paint and coating industry. Increasing activities in the construction sector, along with a rise in industrial coatings and special coatings are also leading to market growth. Eco-friendly chemical policies launched by the governments and competitive price are also boosting the DMC market. However, strict licensing policies can adversely affect commercial production and restrain market growth.
Top Key Players:
Alfa Aesar (USA), Arrow Chemical Group Corporation (China), BASF SE (Germany), HaiKe Chemical Group (China), Kowa India Pvt.Ltd (India), Merck KGaA (Germany), Shandong Shida Shenghua Chemical Group Co. (China), Tangshan Chaoyang Chemical Co. Ltd. (China), Thermo Fisher Scientific. (USA), Tongling Jintai Chemical Industrial Co. Ltd (China), and UBE (India)
Dimethyl Carbonate Market has been segmented on the basis of application, grade, and lastly, region. The application-based segmentation segments this market into fuel additive, pesticide, pharmaceuticals, polycarbonate, solvent, and others. Others include adhesives and aerosol sprays. Based on grade, the market has been segmented into battery grade, industrial grade, and pharmaceutical grade.
Drivers and Restraints:
Expanding polycarbonate market is one the biggest drivers of the dimethyl carbonate production. Regional automotive and electronic sectors are experiencing a boost from the changes happening in consumer behavioral pattern owing to rapid industrialization and urbanization. This is indirectly generating demand for dimethyl carbonate as well.
Paint and coating industry is also a major factor that is propelling the market growth of dimethyl carbonate. Increasing constructional activities along with a rise in industrial coatings and special coatings can take the market to the next level during the foreseeable future.
Eco-friendly chemical policies launched by the governments and competitive price are also a plus. Furthermore, if proper feasible production technology can be implemented this component can act like automobile fuel and curb the carbon footprint. However, strict licensing policies can serve as a market deterrent. This can adversely affect the commercial production and hamper the market growth during the forecast period.
The regional segmentation of the global dimethyl carbonate market segments the global market into regional markets namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa (MEA). The Asia Pacific is the largest regional market, and it is expected to grow moderately during the forecast period. In this region, the market is growing due to the flourishing growth of various end-use industries such as agriculture, building & construction, and electrical & electronics, among others.
The demand for dimethyl carbonate is increasing and boosting the market in many countries such as Australia, Bangladesh, China, India, Japan, Malaysia, Singapore, South Korea, Taiwan, and Thailand, followed by the remaining countries of the Asia Pacific region. Increasing demand for polycarbonate in the automotive and electronics sector is also fuelling the market growth. Researchers from Tsinghua University and the China University of Geosciences have constructed a stabilized lithium-rich hybrid anode with fast interfacial ion transport, using an ultrathin indium sheet. In the study, the team used 1M LiPF6in ethylene carbonate-dimethyl carbonate solvent for the liquid electrolyte.
Europe is the second largest regional market. In this region, the maximum market revenue comes from France, Germany, Italy, and the UK. Spain is another country-specific market in this region. The market is growing in this region due to robust production base for the automotive sector and increasing expenditure on innovation and research & development (R&D) activities to develop environment-friendly coatings, inks, and paints.
During the forecast period, North America is expected to witness moderate growth as a regional market due to the recovery of the automotive sector, and growing investments to revitalize building & construction industry. The USA and Canada contribute maximum revenue to this market. The market in this region is also growing due to the strong growth of the pharmaceutical & medical industry. In Latin America, countries such as Brazil, Mexico, and Venezuela have been estimated to witness moderate growth due to increasing consumer spending on electronics and passenger cars.
In the MEA region, countries such as Saudi Arabia, Turkey, and UAE has been estimated to register significant growth due to growing residential, institutional, and commercial construction activities.
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