Dimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented By Grade (Industrial Grade, Battery Grade, Pharmaceutical Grade, Others), By Method of Preparation (Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, Direct Synthesis from CO2 & Methanol), By Application (Polycarbonate, Solvents, Reagents, Others), By End Use (Plastics, Paint & Coatings, Pharmaceuticals, Batteries, Agrochemicals, Others), By Region.
New York, March 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06435460/?utm_source=GNW
Global dimethyl carbonate market is expected to grow at an impressive rate through 2028.Dimethyl carbonate (DMC) is a non-toxic organic compound with the formula OC(OCH3)2.
It is a colorless, flammable liquid.Dimethyl Carbonate is classified as a carbonate ester.
It is used as a methylating agent and also used as a solvent with no restriction like other volatile organic compounds (VOCs).Dimethyl carbonate has no harmful effects on the environment, therefore considered a green reagent.
Increased focus on carbon capturing & utilization approach results in conversion of CO2 for its production, electrical & electronics area, and other important factors are the many key drivers which expand the market quickly. Furthermore, the growing demand for pesticides, solvents, pharmaceuticals, paint & coatings, and others are the essential factors that raise the market’s growth. Apart from that, the market is mostly driven by organizational activities, increased R&D investment, and government regulations on trade and export. Consumer inclinations to select new technologies to maximize profit are fueling market expansion. Consequently, it is predicted that the global dimethyl carbonate market will expand throughout the forecast period.
Increasing Adoption of Battery Grade
In the current scenario, global warming is one of the major issues in the world.The main source behind this is fossil fuels.
A large number of greenhouse gases in the environment result in a change in the climate cycle which ultimately generates so many issues like pollution, melting of glaciers, etc.To overcome this problem, many industrialists and researchers focus on alternate sources of energy.
In the following years, much research in the same field is going on but the exact solution still needs to be made available.Many innovative ideas are welcome to sort out this issue.
One of the best innovative ideas which get a boom in today’s market is E-vehicles. As E-vehicles do not require any fossil fuel and not generates any harmful gases. But E-vehicle needs a battery for their running, so the main concern now arises regarding the battery. Today lithium-ion batteries are used in the automobile industry as a source of power for electric, hybrid, or plug-in hybrid electric vehicles. Besides, these batteries can store large amounts of energy and can be recharged. They offer a better charging capacity and a longer lifespan. Consumption of dimethyl carbonate will rise as a result of rising lithium-ion battery demand. Mobile phones, computers, and tablets are powered by lithium-ion batteries, which offer the convenience of portable electricity. Power tools and medical equipment are also given energy by them. In mining, energy storage, manufacturing, and other industries, lithium is regarded as a staple material. During power outages and fluctuations, lithium-ion batteries provide emergency backup power. To avoid data loss, computers and other office machinery like IT servers must run continually. According to the announcement in December 2019, India Energy Storage Alliance (IESA), Indian EVs market will grow at a CAGR of 36% by 2026.
Increasing Demand for Polycarbonate is Driving the Market
The increased manufacturing of polycarbonate has increased the demand for dimethyl carbonate on a global scale.Acids and phenols are not produced during the manufacturing of polycarbonate.
As the need for polycarbonate increases in the automotive and electronics sectors, more orders are placed and the demand for dimethyl carbonate products rises.Polycarbonate help in the environmentally friendly manufacture of thermoplastics, which helps to increase the production of dimethyl carbonate regularly.
The dimethyl carbonate market also strives to maintain environmental health, which is a big plus for expanding naturally in the international market.
Additionally, the growing demand for agrochemicals, pharma, and plastics are crucial factors responsible for market growth. Thus, the need for the global dimethyl carbonate market is expected to rise in the forecast period.
Increasing focus on Paint & Coating
As a result, the paint and coating business, which has increased the demand for eco-friendly paints, is another important driver.Numerous market participants have entered the worldwide dimethyl carbonate market due to the growing demand from these sectors.
Since dimethyl carbonate is one of the best replacements of that solvents in paint which causes Volatile Organic Compounds emission and environmental effects, therefore it became a top focus for many industries. It has a lot of demand right now on the international market.
To address the roughly 8,000 tonnes per year local demand for DMC, The first stage of Balaji Amines’ brand-new, greenfield chemical manufacturing will begin in 2021. The project’s first stage will comprise a 16,500 ton/year ethyl amines unit and a 9,900 ton/year dimethyl carbonate line., which is anticipated to cost more than USD20 million) (DMC), according to an announcement in July 2020.
To increase the production of the fundamental chemical dimethyl carbonate and its derivatives, Ube Industries announced in July 2019, the development of a new plant in the United States. The facility can produce 20,000–30,000 tonnes/year of purified DMC in addition to 50,000 tonnes/year of DMC.
The EV Co. will concentrate on electric passenger cars with four wheels (4W). Mahindra & Mahindra stated in a statement to the Bombay Stock Exchange in July 2022 that the total capital injection for the EV Co. is anticipated to be around Rs. 8,000 crores/USD 1 billion between FY 2024 and FY 2027 for the proposed product range.
To encourage the development of modern battery manufacturing facilities and the usage of electric vehicles, the Indian government announced plans to invest USD 4.6 billion in incentives in 2020.
Global Dimethyl Carbonate Market is segmented based on grade, method of preparation, application, end-use, region, and competitive landscape.Based on grade, the market is divided into Industrial grade, Battery grade, pharmaceutical grade, and Others.
Based on the method of preparation, the market is divided into Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, and Direct synthesis from CO2 & Methanol.Based on application, the market is divided into Polycarbonate, Solvents, Reagents, and Others.
Based on End Use, the market is divided into Plastics, Paint & Coatings, Pharmaceuticals, Batteries, Agrochemicals, and Others.
UBE Industries LTD., Shandong Shida Shenghua Chemical Group Co. Ltd., KOWA American Corporation, Qingdao Aspirit Chemical Co. Ltd., Shandong Haike Chemical Industry Group Co. Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying City Longxing Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Alfa Aesar, Hefei TNJ Chemical Industry Co. Ltd. are some of the key players operating in the Global Dimethyl Carbonate Market.
In this report, global dimethyl carbonate market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Dimethyl Carbonate Market, By Grade:
o Industrial Grade
o Battery Grade
o Pharmaceutical Grade
• Dimethyl Carbonate Market, By Method of Preparation:
o Phosgenation of Methanol
o Oxidative Carbonylation of Methanol
o Transesterification of Urea
o Direct Synthesis from CO2 & Methanol
• Dimethyl Carbonate Market, By Application:
• Dimethyl Carbonate Market, By End Use:
o Paint & Coatings
• Dimethyl Carbonate Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in Global Dimethyl Carbonate Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06435460/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001