Dimethyl Carbonate (DMC) Market by Grade(Industry Grade, Battery Grade, and Pharmaceutical Grade), End-Use Industry (Plastics, Electronics, Pharmaceuticals, Agrochemicals, andPaints & Coatings) -Analysis & Forecast 2020-2030.
Report ID : 311 | Published Date : Jul 2020 | Pages : 160 | Region : Global | Report Code : CM-30
Dimethyl Carbonate (DMC) Market Overview and Introduction
Dimethyl carbonates (DMC) is considered as one of the important industrial chemicals across the globe as it is used to manufacture polycarbonate. Approximately 50% of DMC is used in the production of polycarbonate.DMC is a non-toxic, eco friendly &quickly biodegradable chemical, which makes it suitable for use in the chemical industry. Dimethyl carbonate possesses certain favorable properties, which are required in fuels. It has around three times more oxygen than methyl tertiary butyl ether. Hence, it is used as fuel additive. Moreover, it is also used as a chemical reagent, especially for methoxycarbonylation and methylation reactions.
The increasing use of DMC for the production of polycarbonates, which further used as a solvent, and as a pesticide are the major driving factors in the operating market. Also, the increasing demand for lithium ion batteries across the globe due to electrification of the automotive industry is fueling market growth as DMC is used to manufacture batteries. Moreover, it can be used as a fuel additive due to its properties including low vapor, complete miscibility with fuels, low toxicity, non-hygroscopic nature, and a high boiling point, among others. This will create new opportunities for market growth. However, fluctuations in the prices of raw material and high production costs are among factors that are limiting market growth. Also, the presence of various alternative solvents used in the paints &coatings industry is hampering market growth to a certain extent.
The global Dimethyl Carbonate (DMC)market can be segmented into grade, end-use industry and region.
Dimethyl Carbonate (DMC) Market by Grade
Based on grade, the market can be segmented into industry grade, battery grade, and pharmaceutical grade. The industry grade segment accounted for the largest market share in 2019 and expected to maintain its dominance for the next few years. The growth of this segment can be attributed to its rising utilization in the manufacture of polycarbonates that are used in the paints & coatings industry as solvents. Also, the growing demand for polycarbonates from various end-use industries, including automotive and electrical & electronics, is expected to fuel growth of the industry grade segment.
Dimethyl Carbonate (DMC) Market by End-Use Industry
Based on end-use industry, the market can be segmented into plastics, electronics, pharmaceuticals, agrochemicals, paints & coatings and others. The electronics segment is expected to grow at the highest CAGR during the forecast period owing to the increasing use of dimethyl carbonate in the manufacture of batteries. Moreover, the rising popularity of electric vehicles and government initiatives to promote clean energy are among factors that are supplementing growth of the segment.
Dimethyl Carbonate (DMC) Market by Region
Based on region the market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific dominated the DMC market followed by North America. The growth in Asia Pacific can be attributed to the increasing use of dimethyl carbonate in various end-use industries such as paints & coatings, automotive, and adhesives, among others. Additionally, the rising demand from China, South Korea, Taiwan, Singapore, and Japan for dimethyl carbonate to synthesize polycarbonate is a major growth driver in the region. Moreover, the growing demand for dimethyl carbonate in the manufacture of lithium ion batteries is supplementing growth in this region as China is one of the leading battery producers across the world.
Dimethyl Carbonate (DMC) Market Prominent Players
Some of the prominent players in the Dimethyl Carbonate (DMC)market include TCI AMERICA, KOWA AMERICAN CORPORATION, Alfa Aesar (Thermo Fisher Scientific Inc.), UBE INDUSTRIES,LTD., Shandong Shida Shenghua Chemical Co., Ltd., Dongying City Longxing Chemical Co., Ltd., and Chemceed, among others.