Dimethyl Carbonate Market Share, Size, Trends, Industry Analysis Report, By Grade (Battery Grade, Industry Grade, Pharmaceutical Grade); By End-Use (Pharmaceutical, Agrochemicals, Paints & Coating, Battery, Plastics, Others); By Region; Segment Forecast, 2022 - 2030
- Published Date:Oct-2022
- Pages: 122
- Format: PDF
- Report ID: PM2639
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global dimethyl carbonate market was valued at USD 1.13 billion in 2021 and is expected to grow at a CAGR of 7.1% during the forecast period. Dimethyl Carbonate is obtained from cyclic carbonate compounds. It is increasingly being used across various industries owing to its eco-friendly and biodegradable properties.
Know more about this report: Request for sample pages
It is utilized as a solvent for the manufacturing of adhesives, coatings, and plastics. It is also used as a sustainable solvent for cleaning agents. It also finds application in organic synthesis reactions as a raw material. The demand has increased from the medical sector on account of its use as a pharmaceutical intermediate.
The application has increased in lithium-ion batteries as an electrolyte solvent. It is used in smartphones, computers, and other electronics on account of its low viscosity and good solvation. The demand for the industry has increased from electric and hybrid vehicles.
Rise in environmental concerns and supportive government initiatives have increased the adoption of electric vehicles in recent years.
Governments across the world have introduced stringent emission regulations, which boost the adoption of electric vehicles.
Reduced prices of li-ion batteries and monetary advantages and subsidies offered by governments on the purchase of electric vehicles are expected to further drive the demand for electric vehicles during the forecast period, thereby leading to an increase in demand for the industry.
It offers properties such as high oxygen content and appropriate solubility and boiling point, increasing its application as a biodiesel additive. The use of dimethyl carbonate in diesel offers efficient combustion while decreasing emissions. Rise in environmental concerns, increasing consumer awareness, and growing adoption of sustainable and bio-degradable solutions are factors expected to contribute to the growth of the global market during the forecast period.
The spread of the COVID-19 virus across the world hampered the growth of the global dimethyl carbonate market. The global industry suffered from lockdown impositions causing a limited supply of raw materials and restrictions in the movement of goods. The decline in demand was observed in the automotive, agriculture, and construction sectors.
The lockdown caused the closure of global markets, reduced workforce, and shutting of manufacturing units. Transportation delays restricted import and export activities and disturbed the supply chain, resulting in limited industry growth during the pandemic. However, post-pandemic, the global market is expected to experience growth due to industrial growth and a rise in demand for polycarbonate across various industries.
Know more about this report: Request for sample pages
Industry Dynamics
Growth Drivers
Growth in population across the world and an increase in industrialization support the growth of the market. The rise in the application of dimethyl carbonate in paints and coatings, plastics, and agrochemicals has been observed across the world.
Its utilization in the synthesis of polycarbonate drives the growth in the automotive, aerospace, electronics, and construction sectors. The rise in disposable income of consumers and increase in purchasing power has resulted in a rise in demand for electronics and automobiles, boosting the growth of the market across the world.
Strengthening the construction sector, especially in developing countries, and expansion of public infrastructure have resulted in wider use of polycarbonate, thereby increasing the demand for dimethyl carbonate. The rise in investments associated with material innovation and technological advancements further accelerates the demand for dimethyl carbonate. Greater demand for emerging economies and an increase in the adoption as oxygenated fuel additives are factors expected to offer growth opportunities during the forecast period.
Report Segmentation
The market is primarily segmented based on grade, end-use, and region.
|
By Grade |
By End-Use |
By Region |
|
|
|
Know more about this report: Request for sample pages
Industry grade segment accounted for a significant share
On the basis of grade, the global dimethyl carbonate market has been segmented into battery grade, industry grade, and pharmaceutical grade. The industry grade segment accounted for a major share of the global market in 2021. The industry grade dimethyl carbonate (greater than 99.0 WEIGHT %) is used across industries such as automotive, electronics, and construction, among others.
Increasing application areas among diverse industries, strengthening the construction industry, and greater automotive penetration support the growth of the market. It is increasingly being used in polycarbonate synthesis, which is utilized in automobiles for superior performance and reduced weight.
Vehicles across the globe are being modernized with high-performance features, increasing the demand for dimethyl carbonate from the automotive sector. Technological advancements, growth in investments, and a rise in demand for electronics further boost the growth of this segment. The rise in disposable income of consumers and improving living standards have increased the demand for consumer goods and electronics, driving the demand for dimethyl carbonate.
Plastics accounted for a major share in 2021
Based on end-use, the global dimethyl carbonate market has been segmented into pharmaceuticals, agrochemicals, paints & coating, batteries, plastics, and others. The plastics segment accounted for a major share of the market in 2021. Dimethyl carbonate is used for the synthesis of polycarbonate.
Polycarbonate offers high strength, flexibility, toughness, high impact resistance, and greater chemical resistance. Polycarbonate is used in diverse industries such as construction, automotive, electronics, aerospace, and electronics, among others.
Polycarbonate is widely used in the building and construction sector for wall paneling, glazing, roofing, and cladding, among others. Polycarbonate is increasingly being used in the manufacturing of complex structures on account of its flexibility.
Growing adoption of green buildings, the rising need to improve energy efficiency and decrease associated costs, and awareness regarding the use of less toxic materials are factors expected to offer growth opportunities during the forecast period.
Asia Pacific dominated the global market
Asia Pacific accounted for a significant share of the global dimethyl carbonate market in 2021. Growth in industrialization, increase in penetration of electric vehicles, and greater demand for lithium-ion batteries support the growth in the region. Increasing environmental consciousness and the introduction of stringent environmental regulations further boost the adoption of dimethyl carbonate.
Technological advancements, research and development, growth in the sale of vehicles, and inclination toward the use of cleaner sources have been observed in the region, driving the growth of the market. Increasing application in paints and coatings, and pharmaceuticals further accelerates the adoption of dimethyl carbonate in Asia Pacific.
Competitive Insight
Some major players operating in the global market include Alfa Aesar, Connect Chemicals, Dongying Hi-tech Spring Chemical Industry Co., Ltd., Guangzhou Tinci Materials Technology Co., Ltd., Haike Chemical Group, Hebei New Chaoyang Chemical Stock Co., Ltd., Kishida Chemical Co. Ltd., Kowa Company Ltd., Lotte Chemical, Merck KGaA, Shandong Depu Chemical Industry Science and Technology Co., Ltd., Shandong Shida Shenghua Chemical Group Co., Ltd., Tokyo Chemical Industry Co., Ltd, Ube Industries Ltd., and Qingdao Aspirit Chemical Co., Ltd.
The major players operating in the global market are investing in technological advancements to introduce new products in the market. These companies are also involved in acquisition of other companies to widen customer base and expand geographic presence.
Recent Developments
In July 2022, UBE Corporation initiated design of Dimethyl Carbonate plant in the U.S. for commercial applications. The new unit is expected to produce 100,000 metric tons per year of dimethyl carbonate to cater to the growing consumer demand.
In October 2021, UBE introduced Daxsol dimethyl carbonate, which is developed to be used as an environmentally-friendly solvent. The new product offers biodegradability, reduced toxicity, and can be used in adhesives, cleaning agents, and coatings.
In July 2021, Asahi Kasei was involved in technology license agreement for development of high-purity dimethyl carbonate. The process makes use of carbon dioxide as a major feedstock. The development is aimed at catering to the growing demand of lithium-ion batteries.
Dimethyl Carbonate Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2022 |
USD 1.19 billion |
|
Revenue forecast in 2030 |
USD 2.06 billion |
|
CAGR |
7.1% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Grade, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key companies |
Alfa Aesar, Connect Chemicals, Dongying Hi-tech Spring Chemical Industry Co., Ltd., Guangzhou Tinci Materials Technology Co., Ltd., Haike Chemical Group, Hebei New Chaoyang Chemical Stock Co., Ltd., Kishida Chemical Co. Ltd., Kowa Company Ltd., Lotte Chemical, Merck KGaA, Shandong Depu Chemical Industry Science and Technology Co., Ltd., Shandong Shida Shenghua Chemical Group Co., Ltd., Tokyo Chemical Industry Co., Ltd, Ube Industries Ltd., Qingdao Aspirit Chemical Co., Ltd. |
© 2024 Polaris Market Research and Consulting. All rights reserved
