Knowledge Sourcing Intelligence announces the publication of a new report on "Dimethyl Carbonate Market - From 2019 to 2026" to their offering.
The Dimethyl Carbonate Market is projected to grow at a CAGR of 3.80% to reach US$1,555.212 billion in 2026 from US$1,198.128 billion in 2019.
The expansion of the demand globally for the use of polycarbonate due to its favorable properties as an input in various industry sectors is propelling the growth of the dimethyl carbonate market during the forecast period. The loss in status as a volatile organic compound and eco-friendliness is expected to boost the demand of dimethyl carbonate during the forecast period.
The Covid-19 pandemic outbreak has impacted every industry globally which is causing socio-economic disruptions. The COVID-19 outbreak followed by lockdown has disrupted the production and distribution channel of the dimethyl carbonate. This caused wide gap between supply and demand. However, it is expected that demand for dimethyl carbonate will surge when the economic conditions will be back to normal.
Dimethyl carbonate is highly used as a raw material in various industry sectors like automotive, electric and electronics, solvent, food additives, pesticides, building and construction, medical & pharmaceutical, and consumer products. The demand of dimethyl carbonate in these industries is highly accounted to its favorable properties of the having a distinctive molecular structure like low toxicity, quick biodegradability and versatile use. It has been increasing used for the synthesis of agricultural chemicals, medicine, polyurethane and polycarbonates. The paint and the coating industries have been rapidly using dimethyl carbonates owing to its eco-friendly characteristics. Recently, Balaji Amines, a leading chemical manufacturing company in India has planned on commencing the manufacturing of dimethyl carbonate by the end of Q2FY22.
The dimethyl carbonate by grade is segmented as battery grade, industry-grade and pharmaceutical grade. The industry-grade segment holds the major market share on account of its use in the manufacturing of polycarbonates, reagents in pesticides and solvents in paints and coatings. The surge in the demand of polycarbonates in the electronic & electric and automotive industry is leading to the growth of dimethyl carbonate in the market.
Dimethyl carbonate by application is segmented as polycarbonate synthesis, lithium-ion batteries, solvents and reagents. The polycarbonate synthesis segment holds the major market in the forecast period as dimethyl carbonate, with the well established and rapidly growing non-phosgene melt process is used for the manufacturing of polycarbonate synthesis which is used in various industry sectors including electronic & electrical and automotive owing to its superior physical properties like impact resistance, heat resistance optical transparency and structural stability. These are also used in safety helmets, bulletproof glass, compact discs and find a wide range of applications in various industry sectors.
However, toxic raw materials for the production of dimethyl carbonate could hinder the growth of this industry in the market. Some toxic raw materials are used for the synthesis of dimethyl carbonate. In the traditional process of production of dimethyl carbonate, sodium chloride, a harmful by-product is generated because of the utilization of some toxic gases like carbon monoxide and phosgene. In the current manufacturing process of dimethyl carbonate, phosphene a highly toxic and deadly chemical is used. This utilization of toxic raw materials is hindering in the growth of the dimethyl carbonate market. The other restraint in the dimethyl carbonate market is the growing instability in the gas and oil prices which is leading to the variation in the price and availability of raw materials for the production of dimethyl carbonate.
Covid-19 pandemic has increased the trend regarding sustainability and environmental solution such as biologicals. Ube Industries, Ltd. In May 2020, had come forward to donate 960 dustproof masks to the Ministry of Health, Labour and Welfare. Also, 60 pieces of Naviroll aprons (for use as medical gowns) to Health and Sanitation Bureau, Aichi Prefectural Government were donated by this industry. Additionally, Kishida Chemical, Fujitsu Limited, PeptiDream Inc.,.Takenaka Corporation and Mizuho Capital Co., Ltd have entered into a joint agreement to establish PeptiAID Inc. a joint venture company that will help in the R&D of peptide therapeutics capable of neutralizing the current SARS-CoV-2 virus and potentially any future coronavirus outbreaks that might occur. However, the infrastructural project investments by the government of various countries to revive the economy have led to the rise in demand in the coming years.
The dimethyl carbonate market on the basis of region is segmented as North America, South America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific region in the dimethyl carbonate market is expected to grow at high CAGR during the forecasted period due the increasing use of dimethyl carbonate in synthesis of polycarbonate in countries such as Japan, China, Thailand, Korea and Malaysia. Also, the increasing demand of EV automobiles and lithium-ion batteries in the automotive and electronic industry in this region have boosted the dimethyl carbonate market in the Asia Pacific region. Furthermore, North America region is anticipated to hold a significant share in the market owing to the exclusion of dimethyl carbonate from the volatile organic compound list.
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This report segmented the dimethyl carbonate market on the basis following terms