Rising adoption of battery grade is expected to drive the demand dimethyl carbonate market in the forecast period, 2024-2028.
According to TechSci Research report, “Dimethyl Carbonate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global dimethyl carbonate market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. Dimethyl carbonate (DMC) is a non-toxic organic compound with the formula OC(OCH3)2. It is a colorless, flammable liquid. It is notified as a carbonate ester. Its function as a methylating agent in the creation of analgesics, antipyretics, and anti-infectives, results in the growing requirement for dimethyl carbonate. Compared to conventional oxygenated additive fuel additives such as MTBE, dimethyl carbonate is non-corrosive, safe to handle, and has eco-friendly properties, replacing MTBE in commercial gasoline/diesel leading to the rise in demand for dimethyl carbonate worldwide.
Furthermore, the growing demand for pesticides, solvents, pharmaceuticals, paint & coatings, and others are the essential factors that raise the growth of the market. Thus, the need for the global dimethyl carbonate market is expected to grow in the forecast period.
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The Global Dimethyl Carbonate Market is segmented based on grade, method of preparation, application, end use, region and competitive landscape.
Based on grade, the market is divided into Industrial grade, Battery grade, Pharmaceutical grade, and Others. Battery grades are expected to hold the largest market share in the forecast period, 2024-2028. Since global warming and environmental pollution are the main concern, therefore, alternate sources of energy like E-vehicles running on battery play a vital role for the same. Thus, it is more in demand in its segment, and dominates.
According to the Electric Vehicle Association of the Philippines (EVAP), sales of around 200,000 electric cars are expected to be completed by 2024, with an annual growth rate of 8–12%.
CEEW Centre for Energy Finance (CEEW-CEF) states that the Indian EV market will be a USD206 billion opportunity by 2030 if India maintains steady progress to meet its ambitious 2030 target.
Based on the method of preparation, the market is divided into Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, and Direct synthesis from CO2 & Methanol. As per estimates, the direct synthesis from CO2 & methanol segment will experience the highest market share during the forecast period. During the preparation of dimethyl carbonate, direct synthesis helps to overcome two big issues, one is the utilization of CO2 and the second one is no harmful gases are generated as compared to other methods. Hence, it is expected to dominate the market.
Based on application, the market is divided into Polycarbonate, Solvents, Reagents, and Others. As per estimates, the Polycarbonate segment will experience the highest market share during the forecast period. Acids and phenols are not produced during the manufacture of polycarbonate. Thus, the polycarbonate segment dominates the market.
Based on end use, the market is divided into Plastics, Paint & Coating, Pharmaceuticals, Batteries, Agrochemicals, and Others. Paint & Coating segment is expected to have a huge market share during the forecast period. Increased demand for eco-friendly paints & use of dimethyl carbonate in the preparation reduces Volatile Organic Compounds emission and environmental effects; it has become a top focus for many key players. It has a lot of demand right now on the international market.
Major companies operating in global dimethyl carbonate market are:
- UBE Industries LTD.
- Shandong Shida Shenghua Chemical Group Co., Ltd.
- KOWA American Corporation
- Qingdao Aspirit Chemical Co., Ltd.
- Shandong Haike Chemical Industry Group Co Ltd.
- Shandong Depu Chemical Industry Science & Technology Co., Ltd.
- Dongying City Longxing Chemical Co., Ltd.
- Shandong Feiyang Chemical Co., Ltd.
- Alfa Aesar
- Hefei TNJ Chemical Industry Co., Ltd.
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“Asia Pacific is expected to dominate the Global Dimethyl Carbonate Market in the coming years due to its government policies, manufacturing expertise, and innovation capabilities. The Global Dimethyl Carbonate Market is anticipated to increase due to the continuous emergence of new applications in the form of E-Vehicles and growing awareness about Carbon capturing and utilization by replacing toxic fuel additives with green chemicals.
Apart from that, the market is mostly driven by organizational activities, increased R&D investment, and government regulations on trade and export. Additionally, the increasing demand from agrochemical, pharma, and plastics are the crucial factor responsible for market growth till 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Dimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented, By Grade (Industrial Grade, Battery Grade, Pharmaceutical Grade, Others), By Method of Preparation (Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, Direct Synthesis from CO2 & Methanol), By Application (Polycarbonate, Solvents, Reagents, Others), By End Use (Plastics, Paint & Coatings, Pharmaceuticals, Batteries, Agrochemicals, Others), By Region,” has evaluated the future growth potential of global dimethyl carbonate market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global dimethyl carbonate market.”
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The vendor landscape of the global market for dimethyl carbonate is highly fragmented and largely competitive.
All these factors could make the market tougher for small players in the next few years, observes Transparency Market Research in a recent report.
Also, restrictions in executing advanced technologies to synthesize the desirable grade of dimethyl carbonate could also present challenges ahead of companies operating in the global dimethyl carbonate market.
Some of the leading players in the market are Tokyo Chemical Industry Co., Ltd. (TCI), HaiKe Chemical Group, Tongling Jintai Chemical Industrial Co., Ltd., Arrow Chemical Group Corporation, UBE Industries Limited, and Alfa Aesar.The report states that the global dimethyl carbonate market was valued at US$345.9 mn in 2016 and is projected to rise to an opportunity of US$553.3 mn by 2025 at a CAGR of 5.5% from 2017 to 2025.
The segment is expected to remain a key consumer of dimethyl carbonate over the next few years as well, thanks to the increased usage of polycarbonates in areas such as optical media, electronics, and automotive.Are you a start-up willing to make it big in the business?
Grab an exclusive PDF sample of this report hereIn terms of both volume and value, the market for dimethyl carbonate in Asia Pacific accounted for the dominant share in the global dimethyl carbonate market in 2016.
