Dimethyl Carbonate Market to be Dominated by Battery Grade Segment Through 2028
Rising adoption
of battery grade is expected to drive the demand dimethyl carbonate market in
the forecast period, 2024-2028.
According to TechSci Research
report, “Dimethyl Carbonate
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, the global dimethyl carbonate market is anticipated
to upsurge at an impressive rate in the forecast period 2024-2028. Dimethyl carbonate (DMC) is a non-toxic organic
compound with the formula OC(OCH3)2. It is a colorless,
flammable liquid. It is notified as a carbonate ester. Its function as a methylating
agent in the creation of analgesics, antipyretics, and anti-infectives, results in the growing requirement for dimethyl
carbonate. Compared to conventional oxygenated additive fuel additives such as
MTBE, dimethyl carbonate is non-corrosive, safe to handle, and has eco-friendly
properties, replacing MTBE in commercial gasoline/diesel leading to the rise in
demand for dimethyl carbonate worldwide.
Furthermore, the growing demand for pesticides, solvents, pharmaceuticals, paint
& coatings, and others are the essential factors that raise the growth of
the market. Thus, the
need for the global dimethyl carbonate market is expected to grow in the
forecast period.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Dimethyl Carbonate Market"
The 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. Battery grades are expected
to hold the largest market share in the forecast period, 2024-2028. Since
global warming and environmental pollution are the main concern, therefore, alternate
sources of energy like E-vehicles running on battery play a vital role for the
same. Thus, it is more in demand in its segment, and dominates.
According to
the Electric Vehicle Association of the Philippines (EVAP), sales of around
200,000 electric cars are expected to be completed by 2024, with an annual
growth rate of 8–12%.
CEEW Centre
for Energy Finance (CEEW-CEF) states that the Indian EV market will be a USD206
billion opportunity by 2030 if India maintains steady progress to meet its
ambitious 2030 target.
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. As per estimates, the direct synthesis
from CO2 & methanol segment will experience the highest market
share during the forecast period. During the preparation of dimethyl carbonate,
direct synthesis helps to overcome two big issues, one is the utilization of
CO2 and the second one is no harmful gases are generated as compared to other
methods. Hence, it is expected to dominate the market.
Based on application, the market is divided into
Polycarbonate, Solvents,
Reagents, and Others.
As per estimates, the Polycarbonate segment will experience the highest market
share during the forecast period. Acids and phenols are not produced during the
manufacture of polycarbonate. Thus, the polycarbonate segment dominates the
market.
Based on end use,
the market is divided into Plastics, Paint & Coating, Pharmaceuticals, Batteries,
Agrochemicals, and Others. Paint & Coating segment is expected to have a
huge market share during the forecast
period. Increased demand for eco-friendly paints & use of dimethyl
carbonate in the preparation reduces Volatile Organic Compounds emission
and environmental effects; it has become a top focus for many key players. It
has a lot of demand right now on the international market.
Major
companies operating in global dimethyl carbonate market are:
- 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.
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“Asia
Pacific is expected to dominate the Global Dimethyl Carbonate Market in the
coming years due to its government policies, manufacturing expertise, and
innovation capabilities. The Global Dimethyl Carbonate Market is anticipated to
increase due to the continuous emergence of new applications in the form of
E-Vehicles and growing awareness about Carbon capturing and utilization by
replacing toxic fuel additives with green chemicals.
Apart from that, the market is mostly driven
by organizational activities, increased R&D investment, and government
regulations on trade and export. Additionally, the increasing
demand from agrochemical, pharma, and plastics are the crucial factor
responsible for market growth till 2028.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“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,” has
evaluated the future growth potential of global dimethyl carbonate market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global dimethyl carbonate market.”
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