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The dimethyl carbonate market size is estimated to grow at a CAGR of 6.68% between 2023 and 2028. The market size is forecast to increase by USD 443.19 million. The accelerated growth of the market is due to various factors, including the increasing applications of polycarbonate materials in end-user industries, the growing demand for lithium-ion batteries, and the strengthening of the construction sector in emerging countries.
The report includes a comprehensive outlook on the Dimethyl Carbonate Market, offering forecasts for the industry segmented by Application including polycarbonate synthesis, solvents, reagents, battery electrolyte, and others. Additionally, Type categorizes industry grade (above 99.0 weight percentage), pharmaceutical grade (above 99.0 weight percentage), and battery grade (above 99.0 weight percentage) and covers Geography regions, including APAC, North America, Europe, South America, and the Middle East and Africa. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing applications of polycarbonate materials in end-user industries is the key factor driving market growth. Technological advances in semiconductors and integrated circuits (ICs) have driven manufacturers to produce smaller electro-mechanical components. Moreover, the need for the miniaturization of electronic components has primarily been driven by the aerospace industry, which demands smaller and lighter components, mainly to provide increased functionalities at lower material costs. By following this approach, the use of advanced materials such as polycarbonates, has increased in the manufacture of optoelectronics.
Furthermore, the rising applications of polycarbonate materials in the automotive industry are expected to boost the growth of the global market. Its properties, such as enhanced stability, high impact strength, and better heat resistance and clarity, increase the adoption of polycarbonate materials in automotive applications. Therefore, the increasing applications of polycarbonate materials in end-user industries are expected to drive the growth of the market during the forecast period.
The growing use of DMC as an oxygenated fuel additive is the primary trend shaping market growth. DMC is one of the oxygenated fuels with expanding interest as the option in contrast to diesel fuel or additive for regular hydrocarbon fuels. DMC was explored as an oxygenated added substance to gasoline and diesel, and the outcomes acquired were promising in further developing tailpipe emissions and further improving engine performance.
Moreover, the use of methyl tertiary-butyl ether (MTBE) in gasoline fuels is hazardous to the environment. Thus, the use of DMC as an oxygenated fuel additive is growing as DMC has properties such as non-toxic production, environment friendly, and safe handling, thereby driving the global dimethyl carbonate market growth during the forecast period.
Fluctuations in prices of oil and gas is a challenge that affects market growth. Fluctuations in oil and gas prices have adverse effects on DMC production as the raw materials used to manufacture DMC include methanol, ethylene oxide, and more, which are derivatives of crude oil. Consequently, the global dimethyl carbonate market is considerably dependent on the oil and gas industry. Fluctuations in the global prices of crude oil have a significant impact on the prices of raw materials, thereby affecting the production cost of DMC.
Moreover, changing economic conditions play an important role in the overall performance of the global dimethyl carbonate market. The pricing structure of raw materials differs from one region to another based on import and export tariffs. The uncertainty in economic activities affects the prices of raw materials that are used to produce DMC, thereby posing a challenge to global dimethyl carbonate market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Dimethyl Carbonate Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The polycarbonate synthesis segment is estimated to witness significant growth during the forecast period. DMC enables the manufacturing of polycarbonates, which are transparent and strong plastics with high heat resistance. In a number of sectors, such as electronics, automotive, construction, consumer goods, and medical, there is growing demand for polycarbonate. Polycarbonates have been widely used to produce a wide variety of suitable equipment in the electronics and electrical sectors.
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The polycarbonate synthesis segment was the largest segment and was valued at USD 394.23 million in 2018. Furthermore, in the past few years, polycarbonate demand has been growing at a substantial rate in the automotive sector as the product is easy to mold and is flexible. Therefore, it is the ideal solution for thermoform applications. Thus, the high demand for polycarbonate from end-users is expected to fuel the growth of the polycarbonate synthesis segment, thereby driving the growth of the global dimethyl carbonate market during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. To stimulate the market growth of dimethyl carbonate in the region, lithium-ion battery electrolytes are driven by demand from the electronics and automobile industries. India, China, South Korea, and Japan are the region's principal producers of DMC. In countries such as China and Japan, there has been an increasing demand for DMC, leading to a growing demand for the production of polycarbonate.
Moreover, polycarbonates are extensively used in the production of a wide variety of electronics equipment, such as display sections, sensor parts, cell phones, and others. Therefore, the huge consumer base and flourishing automotive and electronics sector in the region is expected to fuel the growth of the regional dimethyl carbonate market during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the dimethyl carbonate market in the APAC region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. The resumption of operations in industries such as electronics and automotive fueled the demand for polycarbonates. Moreover, the high demand for consumer electronics and the flourishing automotive sector is expected to fuel the growth of the regional dimethyl carbonate market during the forecast period.
The dimethyl carbonate market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Dimethyl Carbonate Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
Market Growth 2024-2028 |
USD 443.19 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.52 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
abcr GmbH, Alfa Chemistry, BOCSCI Inc., Chaoyang Chemicals Inc., Dongying City Longxing Chemical Co Ltd., Dongying Rich Chemical Co. Ltd., EMCO Dyestuff Pvt. Ltd., Loba Chemie Pvt. Ltd., Matrix Fine Chemicals GmbH, Merck KGaA, Oakwood Products Inc., Otto Chemie Pvt. Ltd., Santa Cruz Biotechnology Inc., Shandong Advanced Material Group Co. Ltd., Shandong Xinhua Pharmaceutical I and E Co. Ltd., SMC Global, Spectrum Laboratory Products Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Toronto Research Chemicals Inc., Ube Corp., Zhengzhou Meiya Chemical Products Co. Ltd., ATAMAN Kimya AS, and HiMedia Laboratories Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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