Global Dimethyl Carbonate (DMC) Market Research, Size, Competitive Analysis and Forecast 2022-2029
Dimethyl carbonate (DMC) is an eco-friendly biodegradable solvent that finds its application as a fuel oxygenate in gasoline products. In addition to this, it is used in the production of polycarbonates, lubricants, polyurethanes, and construction materials including paints and coatings. As a green reagent, it is used as a raw agent for organic synthesis and reaction including methylation, carbonylation, and carbomethoxylation. It is widely used to make coatings, adhesives, and cleaning agents. Being highly sustainable, cost-effective, and safe to use, dimethyl carbonate experiencing an upsurge in demand. Furthermore, dimethyl carbonate is also used in the manufacturing of anti-infective, analgesic, and antipyretic medicines which has further fuelled its high demand. Against such a favourable backdrop, the global dimethyl carbonate market is expected to flourish at robust pace.
Paced Demand for Polycarbonate to Prolong Global Market Expansion
Polycarbonate (PC) is a high-performance and lightweight thermoplastic polymer that has incredible properties such as chemical & heat resistance, and thermal and dimensional stability. Consequently, the demand for PC has risen at a record pace. Automotive, building & construction industries are actively utilising polycarbonate to manufacture several components. Moreover, polycarbonate has gained prominence in the production of consumer products, and electrical & electronics. The growing penetration of electronic devices is creating significant demand for printed circuit boards (PCBs) and other electronic components. Such a landscape is influencing the global demand of polycarbonate. This, in turn, is driving exponential growth for the global dimethyl carbonate market in the coming years.
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Increased Inclination Toward Electronic Products to Create New Growth Prospects
Dimethyl carbonate finds its application as an electrolyte solvent for lithium batteries. The growing electric car production has increased the demand for lithium-ion batteries. As a result, the need for dimethyl carbonate has grown manifold. The next-gen advancements in the energy sector and storage development have opened new revenue opportunities for battery-grade dimethyl carbonate. Meanwhile, the trend of purchasing high-end consumer electronics such as gaming consoles and digital cameras is also on the rise, creating tailwinds for electronic components. Thus, increased adoption of electronics is poised to create tremendous growth opportunities for the global dimethyl carbonate market in the years to come.
Asia Pacific to Emerge as a Key Regional Player Amid Thriving Electronics Industry
Paced demand for polycarbonate in the automotive and electronics industries will sustain Asia Pacific's dominance in the DMC market. Moreover, the region has also witnessed a surge in end-use applications of dimethyl carbonate which is likely to fuel the regional market growth. A consistent rise in per capita income, growth in population and economies will act as major factors catalysing growth across the market. The cumulative force of these factors will sustain the region’s contributions towards the holistic growth of the global dimethyl carbonate market.
Prominent Market Players
Some of the major players in the global dimethyl carbonate market include Merck KGaA (Germany), Arrow Chemical Group Corp. (China), Kishida Chemical Co. Ltd. (Japan), Kowa Company Ltd. (Japan), Ube Industries Ltd. (Japan), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Guangzhou Tinci Materials Technology Co., Haike Chemical Group (China), Ltd. (China), and Panax Etec (Korea).
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