PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235871
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235871
According to Stratistics MRC, the Global Dimethyl Carbonate Market is accounted for $1.1 billion in 2022 and is expected to reach $1.8 billion by 2028 growing at a CAGR of 9.2% during the forecast period. Dimethyl carbonate (DMC) has been identified as both a green agent and is an excellent solvent. Phosgene and methanol were formerly used to make DMC, however the made by a particular hazardous by products and intermediates. A more practical oxidative carbonylation method using carbon monoxide or methanol took its place, led to the validation of DMC as a green reagent. The production of paints, adhesives, and cleaning agents all use dimethyl carbonate. DMC has also been employed as a medicinal intermediate and as an electrolyte in batteries.
According to the Propane Education and Research Council, DME is used for LPG blending that is in Propane auto gas in vehicles and there are nearly 260,000 on-road LPG vehicles with certified fuel systems in the United States. Many are used in fleet applications, such as school buses, shuttles, and police vehicles.
Battery demand has risen considerably as a result of the electronics industry's explosive growth. Li-ion batteries primarily became quite popular for powering portable electronics like cell phones. As a crucial component in the production of these Li-ion batteries, DMC's market is anticipated to increase in tandem with that of the Li-ion battery industry. DMC has the capacity to absorb a sizable amount of water from its surroundings, which lowers its effectiveness as an electrolyte. This prevents smartphone makers, who are looking for smaller, lighter batteries, from adopting it thereby propelling the growth of the market.
The conventional method of generating DMC uses poisonous gases like carbon monoxide and phosgene while creating dangerous by products. The highly hazardous substance phosphorus can cause serious health problems. Even for the treatment of its by product has a significant environmental impact, thus any process design including phosgene will result in additional expenses to ensure a safe environment. The methanol phosgenation method is employed by numerous firms throughout the world to synthesise dimethyl carbonate. This in turn hinders the market's expansion for dimethyl carbonate.
The demand for polycarbonate is rising as a result of its features, which include transparency, toughness, thermal properties, chemical and flammability, and dimensional stability. Polycarbonate is a common engineering thermoplastic used in a variety of industries, including electrical and electronics, automotive, building and construction, consumer products, and medical. Construction and the automobile industries are the two main industries that employ polycarbonate material. The expansion of these industries has increased the demand for plastic polymer manufacture. Due to advancements in technology, government assistance, and increased demand from the packaging, electronics, and medical industries, the production of plastic polymer is rising creating various opportunities in the global market.
Dimethyl carbonate makers are subject to strict licensing requirements, which makes it difficult for manufacturers to obtain licences and may ultimately harm growth. During the forecast period, it is also projected that difficulties in implementing cutting-edge technology to create a desirable process environment will hinder the rise of the dimethyl carbonate market. Furthermore, the production of dimethyl carbonate is negatively impacted either by potentially serious consequences in oil and gas prices because the raw materials used to make the compound methanol, ethylene oxide, and carbon dioxide are all derived from crude oil. As a result, the cost structure of the compound depends on the cost and access to raw materials.
The dimethyl carbonate market has suffering from the ongoing COVID-19 epidemic. Considering that Chinese businesses utilize polycarbonate and lithium battery production extensively. In most nations where COVID-19 cases were on the rise, there is a state of lockdown, which has caused manufacturing companies to temporarily stop operating until the virus passes. In China, production of lithium-ion batteries and polycarbonates has slowed down due to the COVID-19 epidemic. In order to comply with environmental requirements, more than half of the DMC produced in China is produced using a green synthesis method using propylene carbonate (PC) and methanol. Manufacturers are focusing on various ionic liquids that are essential for the synthesis thus COVID-19 pandemic has affected the global dimethyl carbonate market.
The Battery Grade (≥99.9%) segment is estimated to have a lucrative growth, due to its crucial role as an organic solvent and chemical intermediary in further down the chemical chain. Lithium battery electrolyte solvents, which also have subsequently contributed for the diverse applications of DMC, have replaced conventional adhesives, coatings, developers, and polycarbonates as the product's primary application field whereas lithium battery electrolyte requires higher purity battery-grade dimethyl carbonate. Battery-grade DMC competition with high-boom capacity expansion and low-cost new technology may disrupt the industry's pattern of competitiveness which accelerates the market growth.
The Pesticides segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its utilization in the pesticide business as well as a green chemical raw material and organic synthesis intermediate. Methyl isocyanate is the primary product, followed by a few carbamate insecticides. Dimethyl carbonate is a crucial step in the synthesis of organic compounds and is valued for its simplicity, safety, and low environmental impact during pesticide manufacture. The use of dimethyl carbonate compounds as eco-friendly intermediates in the manufacturing of pesticides will have a wide range of potential applications by encouraging the market.
Asia Pacific is projected to hold the largest market share during the forecast period owing to the significant expansion in the use of polycarbonates in the region. Due to an increase in demand for dimethyl carbonate in various end user applications, including cleaning products, paints and coatings, pesticides, adhesives, and lithium ion batteries in the region, the dimethyl carbonate market in Asia Pacific is anticipated to grow at a promising rate during the forecast period.
Europe is projected to have the highest CAGR over the forecast period, owing to the region's considerable increase in polycarbonate usage. The Europe dimethyl carbonate market is anticipated to expand at a favourable rate during the forecast period as a result of an increase in demand for dimethyl carbonate, a number of well-known brands are focusing on producing battery-grade methyl carbonate rather than industrial grade due to an increase in the consumption of the electrolyte in the production of lithium ion batteries, especially in comparison to other industrial applications by enhancing the market growth.
Some of the key players profiled in the Dimethyl Carbonate Market include: Kowa Company Ltd, Ube Industries Ltd., Haike Chemical Group, Merck KGaA, Arrow Chemical Group Corp., Kishida Chemical Co. Ltd, Henan GP Chemicals Co. Ltd, WEGO Chemical Group, Hefei TNJ Chemical Industry Co. Ltd, Thermo Fisher Scientific, Aceto Corporation, Silver Fern Chemicals, Connect Chemicals and Tokyo Chemical Industry Co Ltd.
In Feb 2023, hermo Fisher Scientific, the world leader in serving science, and Celltrio, a leading manufacturer of robotics-based solutions for the life sciences industry, have announced their collaboration to bring a fully automated cell culture system to biotherapeutics customers.
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In Dec 2022, The Adani Group (Adani) and Kowa Company, Ltd. (Kowa), have renewed their long-standing 'Business Alliance Agreement' (BAA) with major focus on emerging Carbon Neutral Businesses/Solutions, along with a supplemental Memorandum of Understanding (MOU) regarding Offtake, Sales and Marketing of Green Ammonia in Japan and Taiwan.
In March 2022, Kowa Company, Ltd. (Kowa) announced the conclusion of Memorandum of Understanding (MoU) with India's largest private thermal power producer, Adani Power Ltd. (APL) and IHI Corporation (IHI) that aims to perform and evaluate a technical and economic feasibility study concerning a potential modification.
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