The Global Dimethyl Carbonate Market was valued at USD 840.83 million in 2021 and the market is growing at a CAGR of 6.4% from 2021 to 2030. The North America is expected to grow the fastest during the forecast period.
New York, United States, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The Global Dimethyl Carbonate Market Size is expected to grow from USD 840.83 million in 2021 to USD 1563.24 million by 2030, at a CAGR of 6.4% during the forecast period 2021-2030. as per the latest research report published by Spherical Insights & Consulting. The North American market is expected to grow at the fastest CAGR between 2021 and 2030. The United States is the second-largest producer of plastics and items made from polycarbonate.
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Dimethyl Carbonate (DMC), an organic molecule with the chemical formula OC (OCH3)2, is non-toxic and appropriate for environmental use. It is a nonpolar aprotic solvent that cannot designate hydrogen but has a high homogeneous mixture, quick biodegradability, and no toxicity. Dimethyl carbonate can be produced in several methods, but the two that are most frequently used in a wide range of industries are carbon dioxide and methanol. There are numerous uses for dimethyl carbonate. Polycarbonate, a plastic recognized for its excellent dielectric strength, impact resistance, and optical clarity, is made using it. Dimethyl carbonate is becoming increasingly popular because it is utilized as an electrolyte in lithium-ion batteries, which are used in plug-in hybrid electric vehicles, laptops, desktop computers, and cell phones. To produce dimethyl carbonate traditionally, dangerous byproducts like sodium chloride and harmful gases like carbon monoxide and phosgene must be produced. Strength, thermal stability, chemical and heat resistance, and dimensional stability are all characteristics of polycarbonate that make it ideal for usage in various applications. These applications include those in electronics, automotive, building & construction, consumer goods, and medical. As a result, polycarbonate is one of the engineering thermoplastics that are most frequently utilized. As demand for polycarbonate develops across various industries, global production capacity will grow. China is the largest producer of polycarbonate, a substance utilized in the construction and automotive industries.
Browse key industry insights spread across 198 pages with 134 market data tables and figures & charts from the report “Global Dimethyl Carbonate Market Size, Share, and COVID-19 Impact Analysis, By Application (Battery Electrolyte, Solvents, Polycarbonate Synthesis, and Reagents), End-Use Industry (Paints & Coatings, Pharmaceuticals, and Plastics), Grade (Pharmaceutical, Battery, and Industry), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents
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The production of the plastic polymers used in this business is aided by rising consumer expenditure on electronics and vehicles and increased income. Dimethyl carbonate is used in various industries and has many applications. Due to the amount and variety of uses, dimethyl carbonate is in high demand. In traditional manufacturing, dangerous gases like phosgene and carbon monoxide are used to produce hazardous byproducts like sodium chloride. Most of the product is composed of extremely poisonous substances that, even in small doses, can cause death or severe health issues. Sodium chloride, when produced in big quantities, can damage the environment when discharged. One of the reasons limiting the growth of the dimethyl carbonate market is the prevalence of the methanol phosgenation technique among international producers. Applications can replace fuel and cleaning agents by increasing the dimethyl carbonate components. By enhancing the use of dimethyl carbonate as a solvent in synthesizing polymers, flavoring agents, and insecticides, manufacturers in the dimethyl carbonate market are seizing incremental possibilities.
This research report categorizes the market for dimethyl carbonate based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses 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 in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the dimethyl carbonate market.
Based on end-users, the Dimethyl Carbonate market is categorized into paints & coatings, pharmaceuticals, and plastics. In 2021, the plastic segment dominated the market with the largest market share of 42% and market revenue of 353.14 million. It acts as an intermediary in the synthesis of polycarbonates. PC has become well-known as a commercial polymer with many applications in sectors including electronics, electrical, and automotive that are also recyclable and kind to the environment. Dimethyl carbonate usage is expected to rise globally due to rising demand for plastic goods, notably those manufactured of polycarbonate.
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The Asia Pacific region's need for lithium-ion batteries from the electronics and automotive sectors has been a major driver of the lithium-ion battery electrolyte market's expansion. Due to this, there has been a rise in demand for polycarbonate synthesis in nations like China and Japan and an increase in demand for dimethyl carbonate in the region.
The North American market is expected to grow at the fastest CAGR between 2021 and 2030. The United States is the second-largest producer of plastics and items made from polycarbonate. Due to its high production volume, the nation is anticipated to continue to be a big consumer of dimethyl carbonate. Over the projected period, it is predicted that the nation will have around 89% of the market share for dimethyl carbonate in all of North America. Lithium-ion battery manufacture has also increased due to the increased production of electric automobiles in the United States. Dimethyl carbonate sales are predicted to increase as a result in the coming years.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. List of Key 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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