BANGALORE, India, Jan. 21, 2022 /PRNewswire/ -- Dimethyl Carbonate Market is segmented By Type - Industrial Grade, Battery Grade, Market By Application - Polycarbonate, Battery Solvent, Other Solvent, Pesticide, Others. Global Opportunity Analysis and Industry Forecast 2021 - 2028. It is published in Valuates Reports under the Software Category.
The global Dimethyl Carbonate (DMC) market was valued at USD 849 million in 2020 and it is expected to reach USD 1348.6 million by the end of 2027, growing at a CAGR of 6.8% during 2021-2027.
Major Factors Driving The Growth Of The Dimethyl Carbonate (Dmc) Market Are
Increasing end-user applications such as Polycarbonate, Battery Solvent, Other Solvent, and Pesticides is expected to drive the growth of the Dimethyl Carbonate (DMC) Market.
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TRENDS INFLUENCING THE GROWTH OF DIMETHYL CARBONATE (DMC) MARKET
The use of Dimethyl Carbonate (DMC) in the production of polycarbonate is expected to drive the Dimethyl Carbonate (DMC) Market growth. Polycarbonate (PC) is an engineering plastic material with exceptional physical properties such as heat resistance, impact resistance, structural stability, and optical clarity and is employed in a range of sectors. There are no acids or phenols produced during the manufacturing of polycarbonate making it environmentally friendly. Furthermore, the increasing demand for polycarbonates from the automotive and electronics is, in turn, expected to increase the growth of the Dimethyl Carbonate (DMC) market.
The electrolyte of lithium-ion batteries uses dimethyl carbonate as a solvent. It's a flammable, colorless liquid classified as a carbonate ester. The use of a high-quality battery-grade solvent with a very low water content (less than 50 ppm) is crucial for obtaining good lithium-ion battery electrochemical performance. Thus the increasing demand for hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) is in turn expected to drive the growth of the dimethyl carbonate market.
Furthermore, Dimethyl Carbonate (DMC) is also used in the production of other solvents such as coatings, adhesives, and cleaning agents. DMC is also employed as a starting material in chemical synthesis and in methylation, carbonylation, and carbomethoxylation processes. These factors are in turn expected to fuel the dimethyl carbonate market.
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DIMETHYL CARBONATE (DMC) MARKET SHARE ANALYSIS
Based on application, the polycarbonate synthesis segment is expected to be the most lucrative. In the production of polycarbonates, dimethyl carbonate is utilized as an intermediary. Polycarbonate is an engineering plastic material with high physical features such as heat resistance, impact resistance, structural stability, and optical clarity that is used in end-use sectors such as automotive and electrical, and electronics.
Based on type, the industry-grade segment is expected to be the most lucrative. This is due to the wide application of Dimethyl Carbonate (DMC) in the manufacturing of polycarbonates.
Based on region, Asia Pacific is expected to be the most lucrative during the forecast period. The rising usage of dimethyl carbonate in the synthesis of polycarbonate in countries such as China, Japan, Korea, Thailand, Taiwan, Singapore, and Malaysia is driving demand in this region. Amongst these countries, China held the largest market share of about 55%.
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TOP COMPANIES IN THE DIMETHYL CARBONATE (DMC) MARKET
Sabic, LOTTE, Mitsubishi Chemical, UBE, and Shida Shenghua are the leaders of the Dimethyl Carbonate (DMC) market, with a cumulative market share of about 40%.
Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Dimethyl Carbonate Market By Company
- Sabic
- LOTTE
- Mitsubishi Chemical
- UBE
- Shida Shenghua
- Tongling Jintai Chemical
- Shandong Wells Chemicals
- Hi-tech Spring
- Shandong Depu Chemical
- CNSG Anhui Redsifang
- Liaoning Oxiranchem
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SIMILAR REPORTS
- The global Ethyl Methyl Carbonate market size is estimated to be worth USD 404.9 million in 2022 and is forecast to a readjusted size of USD 1308.9 million by 2028 with a CAGR of 21.6% during the review period.
- The global Propylene Carbonate (PC) market was valued at USD 714 million in 2020 and it is expected to reach USD 1047 million by the end of 2027, growing at a CAGR of 5.3% during 2021-2027.
- The global Polycarbonate Panel market size is estimated to be worth USD 1932.4 million in 2022 and is forecast to a readjusted size of USD 2589.7 million by 2028 with a CAGR of 5.0% during the review period.
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