The Dimethyl Carbonate Market Trend is projected to be valued at USD 594.3 Million and register a CAGR of 4.49% during the forecast period. Dimethyl carbonate (DMC) is a transparent, non-toxic organic chemical with chemical representation OC(OCH3)2. DMC has a unique molecular structure and is flammable. It can easily mix with various organic solvents, such as ketones, alcohols, and ethers.
DMC is prominently used as a methylating agent in the production of pharmaceuticals, namely analgesics and anti-pyretic drugs. It was produced using phosgene, but due to its high toxicity, the production of DMC is carried out by oxidation of methanol carbonylation or transesterification. There is rise in demand for DMC in the production of polycarbonate, which nearly accounts for more than 50% of DMC consumption. The surging demand for polycarbonate in the automotive and electronics industries is expected to drive the global market growth. Also, polycarbonate is used in the production of lightweight components in electric vehicles, which is projected to create lucrative opportunities for the market players. Furthermore, it is considered as a greener alternative in the production of polycarbonate as it does not produce phenols or acid as by-products, which has increased its adoption in pharmaceutical applications.
Furthermore, the surging demand for DMC in the paints and coatings industry to produce water-based eco-friendly paints is likely to boost the global market growth. It is considered as a better alternative to conventional solvents used in paints, which emit more VOC. Whereas, DMC is devoid of DMC and has no adverse impact on the environment, which increases its use in this sector. In addition, it is easily soluble in paints, which further makes it the best suitable solvents for paints.
However, the only bottleneck in a growth trajectory of the global dimethyl carbonate market is the technical complexities in the production of the desired grade of DMC. For various applications, ranging from paints and coating and electronics to pharmaceutical and construction, different grades of DMC are required with respect to the eco-friendly nature and low toxicity. The production of DMC using phosgene is highly toxic and not suitable for medicines and infrastructure applications. Thus, this limitation is likely to hinder the global dimethyl carbonate market.
Market Research Future (MRFR) recognizes the following companies as the key players in the global dimethyl carbonate market trend: Ube Industries Ltd. (Japan), Merck KGaA (Germany), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Alfa Aesar, Thermo Fisher Scientific (US), HaiKe Chemical Group Ltd. (China), Arrow Chemical Group Corp. (ChinaTongling Jintai Chemical Industrial Co., Ltd. (China), Tangshan Chaoyang Chemical Co., Ltd., (China), ), Tokyo Chemical Industry Co., Ltd. (Japan), and Kowa India Pvt. Ltd. (India).
The global Dmc Application market has been segmented based on grade, application, end use, and region. Based on grade, the industrial segment accounted for the largest market share of 48.09% in 2018 and is projected to reach USD 296.75 million by 2024. This segment is likely to register the highest CAGR of 5.81% during the forecast period, which is largely attributed to its high DMC content, and high resistance to chemical and abrasion. It largely finds applications as thermoplastic in plastic and electronic industries. Also, it is used to produce cleaning agents and adhesives.
On the basis of application, the polycarbonate segment held a larger market share of 45.03% in 2018 and is expected to register a significant CAGR of 4.27% during the forecast period. This is largely attributed to its high durability, versatility, low weight, and eco-friendly nature, which is significantly used in automotive applications, in electric vehicle plastic components. The lithium batteries segment is estimated to register the highest CAGR of 5.71% during the review period on account of the growing utilization of DMC in lightweight components in lithium batteries used in electric vehicles.
By end use, the plastic segment dominated the global market with the highest share of 54.23% in 2018, owing to its high-end use characteristics and growing use in the automotive and construction sectors. Whereas, paints & coatings segment is projected to be the fastest-growing segment with a robust CAGR of 5.77% in the coming years on account of high consumption of water-based eco-friendly DMC solvent in paints.
Key Findings of the Study
- Global dimethyl carbonate market is projected to reach over 53 KT by 2024with a healthy CAGR of 3.93% during the assessment period of 2017–2024
- The Asia-Pacific market accounted for the largest market share due to growing construction and electronics market for DMC in lightweight components and increasing purchasing power in the economies such as China, India, Japan, and South Korea.
- The industrial grade segment dominated the market with a market share of 09% in 2018 and is estimated to grow at a notable CAGR of 5.81% during the review period
- The polycarbonate application segment held for the largest market share of 03% in 2018 and is expected to be valued at USD 264.21 million by the end of 2024
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