Dimethyl Carbonate Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Dimethyl Carbonate Market: Overview
Dimethyl carbonate (DMC) is a flammable, clear, and colorless liquid with a pleasant odor. Used as a methylating reagent and in the making of other chemicals, the compound is likely to witness growing demand over the next few years. It is also used in the cold sterilization of beverages, working against microorganisms that spoil beverages. Pharmaceuticals, polycarbonates, pesticides, and solvents can be some of the prominent application segments of the global dimethyl carbonate market.
Recently, the production of dimethyl carbonate has undergone a favorable transition. Previously, phosgene was used to produce dimethyl carbonate, resulting in harmful by-products. However, the current use of methanol, oxygen, and carbon monoxide in the process of production is significantly less toxic and eco-friendly. In addition to these advantages, by the virtue of its biodegradable properties, the demand for green reagent is poised to soar in the coming years.
Global Dimethyl Carbonate Market: Key Trends
Sectors such as optical media, automotive, electronics, lighting, glazing, appliances, and medical have been exhibiting growing demand for dimethyl carbonate. Large scale construction activities increase the demand for paints and coatings that use dimethyl carbonate due to its exceptional solubility and cost-efficiency. As this product is a VOC-exempt solvent, the paints and coatings industry widely uses it as a carrier solvent.
On the other hand, tedious procedures for obtaining licenses might pose a threat to the growth of the market. Nevertheless, the high efficiency, advantageous properties, and technological advancement in the area of dimethyl carbonate is likely to bring forth substantial growth opportunities. Dimethyl carbonate can be viewed as an ideal alternative for ethanol, as it possesses lower toxicity, lower vapor pressure, and higher boiling point.
Global Dimethyl Carbonate Market: Market Potential
One of the major developments in the global dimethyl carbonate market is the collaboration of AkzoNobel with research institutes in 2015 to produce dimethyl carbonate through a catalyst, using carbon dioxide.
The expanding market for lithium-ion batteries worldwide is likely to present opportunities potential for growth. The growth in global battery market will lend a hand to the expansion of the global dimethyl carbonate market, as advanced batteries are deployed in smartphones, tablets, laptops, electric cars, and even planes. CATL, a leading company producing batteries, aims at extending its output to emerge as the largest producer in the U.S., leaving behind the joint production of Panasonic and Tesla Motors by the end of 2017.
The polycarbonate industry will also contribute towards the growth of the market. China-based Luxi Chemical, a leading company manufacturing polycarbonates, announced in December 2016 that it is planning to build two new production lines.
Global Dimethyl Carbonate Market: Regional Outlook
Based on geography, the global market for dimethyl carbonate can be segmented into Asia pacific, North America, Latin America, Europe, the Middle East, and Africa. North America, with the U.S. at the lead, appears to be dominating the regional milieu. The growth of this region can be attributed to the upgrading of public infrastructure coupled with government initiatives.
Asia Pacific has emerged as a regional market with great potential. The rising scope through applications in paints and coatings, automotive and electronics is expected to help the market achieve new heights. Moreover, the dimethyl carbonate markets in regions of Latin America, the Middle East, and Africa are slated for considerable growth.
Global Dimethyl Carbonate Market: Competitive Analysis
Some of the major companies operating in the global dimethyl carbonate market are HaiKe Chemical Group, BASF SE, Sigma-Aldrich, AkzoNobel, UBE Industries Limited, Tangshan Chaoyang Chemical, Alfa Aesar, Dongying City Longxing, EMD Millipore Corporation, Shandong Shida Shenghua Chemical Group Co., Ltd., and UBE Industries. Expansion of manufacturing capacities, development of a strong product portfolio, and catering to the unfulfilled needs of various regions are some of the chief concerns of numerous market players.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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