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.
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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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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.
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.
Global Dimethyl Carbonate Market: Segmentation
Dimethyl Carbonate Market, by Grade
Dimethyl Carbonate Market, by End Use
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