Views: 0 Author: Site Editor Publish Time: 2023-08-07 Origin: Site
The global dimethyl carbonate market is expected to be worth USS 512.5 Million in 2022 representing a 5.6% year-on-year increase. DMC sales are predicted to rise at a 5.8% CAGR, reaching USS 954.1 million by 2032.
The massive rise in the manufacturing of lithium-ion batteries is predicted to increase dimethyl carbonate utilization during the evaluation period. Market growth of Dimethyl Carbonate is primarily driven by the following key factors.
1. DMC is in great supply as a battery electrolyte in the manufacture of lithium-ion batteries. The significant quantity of lithium-ion battery fabrication is expected to drive dimethyl carbonate revenues.
2. Excess supply of polycarbonate-based materials is also anticipated to increase DMC sales in the following decade Increasing adoption for DMC as a battery electrolyte in lithium-ion battery manufacturing, elevated lithium-iron battery production volume.
3. The compound is employed as a solvent in the manufacturing of paints and coatings for traffic paints, architectural elements, and floor paints, which is expected to stimulate consumption.
Carbon is a plentiful element that is required in the manufacture of fuels and polymers. Because of carbon's non-toxic characteristics, dimethyl carbonate traders have been compelled to convert carbon dioxide (CO2) into chemica precursors such as dimethyl carbonate (DMC).
This trend is anticipated to continue, as conventional ways such as phosgenation have drawbacks such as the use of deadly poisonous and corrosive phosgene gas and the creation of large amounts of inorganic salts.
As a consequence, dimethy carbonate market participants are intensifying their R&D efforts in order to boost effectiveness in green chemistry. Automakers are implementing procedures that involve the decisive synthesis of dimethyl carbonate from CO2 and methanol to enhance the productivity of green chemistry. Because methanol serves as a less expensive raw material, green synthesis of DMC is gaining popularity as a cost-effective procedure.
The Asia Pacific Dimethyl Carbonate Market
Asia Pacific is expected to dominate the market during the forecast period. Burgeoning automobile market, coupled with massive growth of electrical industry is expected to drive the market growth during the forecast period. Rapid urbanization has led to the establishment of many industrial plants, which has propelled the demand for hydrazine hydrate in the region. This is also supported by the government initiatives, which is all about investing in the end user industries, like electronics sector.
the Asia-Pacific region accounted for a considerable proportion of the global dimethyl carbonate market in 2021. The clamor for dimethyl carbonate in the Asia Pacific region is anticipated to rise throughout the forecast period due to a significant increase in the utilization of polycarbonates.
Because of the rise in consumption of dimethyl carbonate in various industrial applications such as cleaning agents paints and coatings, pesticide residues, sealants, and lithium-ion batteries throughout the region, the dimethyl carbonate market in the Asia Pacific is anticipated to expand at an enticing rate over the forecast period.
The region's dimethyl carbonate market is led by India, China, South Korea, and Japan. The China dimethyl carbonate market is projected to increase by 6.4% year on year in 2022. Total dimethyl carbonate revenues in East Asia are likely to account for approximately 42% of global DMC volume.
In China, Thailand, Japan, and Taiwan, dimethyl carbonate is predominantly utilized in the manufacturing of poly carbonates, whereas in India, it is largely employed in the pharmaceutical, paints and coatings, and agrochemical businesses to produce multiple products such as medicines, paints, and pesticides