DimethylCarbonate Market: Introduction
In terms ofvalue, the global dimethylcarbonate market is anticipated to expand at a CAGR of ~5% from 2020 to 2030. Dimethylcarbonate is primarily used as an intermediate in the manufacture ofpolycarbonates. Moreover, application of dimethyl carbonate lies in its usagein the manufacture of solvents such as paints & coatings, adhesives, andcleaning agents as well as alternative fuel additives. Additionally, thebattery segment is estimated to witness lucrative opportunities during theforecast period, owing to growth of the global automotive industry.
Increase in Production of Electricand Hybrid Electric Vehicles to Boost Dimethyl Carbonate Market
Theautomobile industry relies on improved batteries as a secondary power source,as use of batteries increases the efficiency of vehicles and decreases the costof fuel and the level of pollution. Furthermore, some vehicles can be operatedfully or partly on batteries (electric vehicles and hybrid electric vehicles).The demand for lithium-ion batteries is expected to rise significantly inautomotive applications, due to the requirement for improved capacity ofbatteries, better safety, and improved capacity retention after recycling ofbatteries. The automotive industry is moving toward electrification at a rapidpace. Automotive applications such as deployment of start–stop systems,emergency call telematics, and electric fuel injections are stimulating theneed for advanced battery management systems that not only charge batteries ina safe manner, and are also durable.
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Industrial to be Leading GradeSegment of Dimethyl Carbonate Market
Amonggrades, the industrial segment is projected to expand at a CAGR of more than 5% duringthe forecast period. This can be ascribed to growth of the chemicalmanufacturing industry as well as rise in the consumption of dimethyl carbonatein various applications in the construction industry. Over the past few years,the demand for industrial-grade dimethyl carbonate in the U.S. has been risingsignificantly. The trend is likely to continue during the forecast period,owing to technological advancements in the country. Demand for polycarbonatesin the U.S. is expected to rise in the near future, owing to rapid growth ofthe electronics industry in the region.
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PolycarbonateProduction to be Dominant in Dimethyl Carbonate Market
Based onend use, the global dimethyl carbonate market has been segregated into solvents(paints & coatings, adhesives, and cleaning agents), alternative fueladditives, polycarbonate production, pharmaceuticals, pesticides, lithium-ionbatteries, and others. In terms of consumption, polycarbonate production wasthe leading end use segment of the global dimethyl carbonate market in 2019.This trend is expected to continue in the near future also. Consumption ofdimethyl carbonate in polycarbonate manufacture in developed as well asdeveloping countries is considerably high. Dimethyl carbonate serves as aneco-friendly alternative for phosgene and toxic methylating agents, such asdimethyl sulfate and methyl chloride. Additionally, dimethyl carbonate can replaceethanol in gasoline applications.
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Asia Pacific to be Lucrative Regionof Dimethyl Carbonate Market
In terms ofconsumption, Asia Pacific accounted for a dominant share of the global dimethylcarbonate market in 2019, due tolarge production of polycarbonate and diphenyl carbonate products in China,India, and countries in the ASEAN sub-region, where dimethyl carbonate is usedas an intermediate and a raw material. China constitutes a major share of thedimethyl carbonate market in Asia Pacific. Numerous small- and medium-sizedmanufacturers of dimethyl carbonate are located in China. The country exports amajority of its products to developed as well as developing economies. Thedemand for chemicals (solvents) in developing economies of Asia Pacific isanticipated to increase during the forecast period, due to rise in the demandfrom end user industries, such as adhesives and paints & coatings, in theregion.
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CompetitionLandscape
The globaldimethyl carbonate market is highly fragmented. The top players such as UBE Industries, Shandong ShidaShenghua Chemical Co., Ltd., Tokyo Chemical Industry Co., Ltd., and Alfa Aesarcumulatively held more than 35% share of the global market in 2019. Keymanufacturers operating in the global dimethyl carbonate market are ShandongHaike Chemical Group Co., Ltd., KOWA American Corporation, Shandong WellsChemicals Co. Ltd., Hebei New Chaoyang Chemical Stock Co., Ltd., QingdaoAspirit Chemical Co., Ltd., Shandong Depu Chemical Industry Science &Technology Co., Ltd., Dongying City Longxing Chemical Co., Ltd., ShandongFeiyang Chemical Co., Ltd. Kindun Chemical Co., Limited, Dongying Hi-techSpring Chemical Industry Co., Ltd, and Hefei TNJ Chemical Industry Co., Ltd.
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