Dimethyl
Carbonate Market: Introduction
In
terms of value, the global dimethyl carbonate market is anticipated to expand at a CAGR of ~5% from 2020 to 2030. Dimethyl
carbonate is primarily used as an intermediate in the manufacture of
polycarbonates. Moreover, application of dimethyl carbonate lies in its usage
in the manufacture of solvents such as paints & coatings, adhesives, and
cleaning agents as well as alternative fuel additives. Additionally, the
battery segment is estimated to witness lucrative opportunities during the
forecast period, owing to growth of the global automotive industry.
Increase
in Production of Electric and Hybrid Electric Vehicles to Boost Dimethyl
Carbonate Market
The
automobile industry relies on improved batteries as a secondary power source,
as use of batteries increases the efficiency of vehicles and decreases the cost
of fuel and the level of pollution. Furthermore, some vehicles can be operated
fully or partly on batteries (electric vehicles and hybrid electric vehicles).
The demand for lithium-ion batteries is expected to rise significantly in
automotive applications, due to the requirement for improved capacity of
batteries, better safety, and improved capacity retention after recycling of
batteries. The automotive industry is moving toward electrification at a rapid
pace. Automotive applications such as deployment of start–stop systems,
emergency call telematics, and electric fuel injections are stimulating the
need for advanced battery management systems that not only charge batteries in
a safe manner, and are also durable.
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Industrial
to be Leading Grade Segment of Dimethyl Carbonate Market
Among
grades, the industrial segment is projected to expand at a CAGR of more
than 5% during
the forecast period. This can be ascribed to growth of the chemical
manufacturing industry as well as rise in the consumption of dimethyl carbonate
in various applications in the construction industry. Over the past few years,
the demand for industrial-grade dimethyl carbonate in the U.S. has been rising
significantly. The trend is likely to continue during the forecast period,
owing to technological advancements in the country. Demand for polycarbonates
in the U.S. is expected to rise in the near future, owing to rapid growth of
the electronics industry in the region.
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Polycarbonate
Production to be Dominant in Dimethyl Carbonate Market
Based
on end use, the global dimethyl carbonate market has been segregated into
solvents (paints & coatings, adhesives, and cleaning agents), alternative
fuel additives, polycarbonate production, pharmaceuticals, pesticides,
lithium-ion batteries, and others. In terms of consumption, polycarbonate
production was the leading end use segment of the global dimethyl carbonate
market in 2019.
This trend is expected to continue in the near future also. Consumption of
dimethyl carbonate in polycarbonate manufacture in developed as well as
developing countries is considerably high. Dimethyl carbonate serves as an
eco-friendly alternative for phosgene and toxic methylating agents, such as
dimethyl sulfate and methyl chloride. Additionally, dimethyl carbonate can
replace ethanol in gasoline applications.
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Asia
Pacific to be Lucrative Region of Dimethyl Carbonate Market
In
terms of consumption, Asia Pacific accounted for a dominant share of the global
dimethyl carbonate market in 2019, due
to large production of polycarbonate and diphenyl carbonate products in China,
India, and countries in the ASEAN sub-region, where dimethyl carbonate is used
as an intermediate and a raw material. China constitutes a major share of the
dimethyl carbonate market in Asia Pacific. Numerous small- and medium-sized
manufacturers of dimethyl carbonate are located in China. The country exports a
majority of its products to developed as well as developing economies. The
demand for chemicals (solvents) in developing economies of Asia Pacific is
anticipated to increase during the forecast period, due to rise in the demand
from end user industries, such as adhesives and paints & coatings, in the
region.
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Competition
Landscape
The
global dimethyl carbonate market is highly fragmented. The top players such
as UBE
Industries, Shandong Shida Shenghua Chemical Co., Ltd., Tokyo Chemical Industry
Co., Ltd., and Alfa Aesar cumulatively held more than 35% share of the global
market in 2019. Key manufacturers operating in the global dimethyl carbonate
market are Shandong Haike Chemical Group Co., Ltd., KOWA American Corporation,
Shandong Wells Chemicals Co. Ltd., Hebei New Chaoyang Chemical Stock Co., Ltd.,
Qingdao Aspirit Chemical Co., Ltd., Shandong Depu Chemical Industry Science
& Technology Co., Ltd., Dongying City Longxing Chemical Co., Ltd., Shandong
Feiyang Chemical Co., Ltd. Kindun Chemical Co., Limited, Dongying Hi-tech
Spring Chemical Industry Co., Ltd, and Hefei TNJ Chemical Industry Co., Ltd.
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