Dimethyl Carbonate Market size is anticipated to surpass USD 7 billion by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of dimethyl carbonate was around USD 2 billion. This growth is attributed to the increasing demand for dimethyl carbonate as a derivative from various end-user industries. The demand for lithium-ion batteries which uses dimethyl carbonate as electrolytes are also attributed to the market growth.
The industry growth is further driven by soaring investments and efforts to produce environment-friendly dimethyl carbonate. For instance, Ube Industries announces that it is expanding production of basic chemical dimethyl carbonate to its derivative with the commissioning of a new US facility in July 2019. Additionally, the growing number of awareness campaigns on the use of dimethyl carbonated as oxygenated fuel is set to present the potential for market growth during the forecast timeline.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~10% |
|
Base Year Market Size (2022) |
~ USD 2 Billion |
|
Forecast Year Market Size (2035) |
~ USD 7 Billion |
|
Regional Scope |
|
Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents)
The polycarbonate synthesis segment in the dimethyl carbonate market is estimated to gain the largest market share in the year 2035. The segmental growth is credited to the increasing use of polycarbonates by multiple end-user industries such as electronics, and medicine. Dimethyl carbonate is used in the process of synthesizing polycarbonates and is expected to contribute to the segment growth. Polycarbonates offer various properties which make them suitable for use in many applications owing to their characteristics of thermal resistance, impact resistance, stability, and light transparency. Polycarbonate demand is driven by growth in automobile and electrical sectors around the world. For instance, global polycarbonate demand from the automobile sector was estimated to be USD 1 Million in the year 2022.
Grade (Industry, Pharmaceutical, Battery)
The industry grade segment is slated to garner a significant share of the dimethyl carbonate market in the year 2035. The use of industry-grade DMC is widespread in various applications like paint & coating, reagents, or pesticides. The increased demand for dimethyl carbonate from the automotive industry is being driven by vehicles and modern performance equipment. The need for dimethyl carbonate has been driven by an increase in the consumption of consumer goods and electronic products. This is on account of the rising disposable incomes, as well as improving living standards.
Our in-depth analysis of the global dimethyl carbonate market includes the following segments:
|
Type |
|
|
End User |
|
|
Grade |
|
APAC Market Forecast
Dimethyl carbonate market in the Asia Pacific is projected to be the largest with a share of about 35% by 2035. The market growth is led by the increasing use of dimethyl carbonate in paints, cleansing agents, automotive, medical, and others in the region. The market for dimethyl carbonate in this region is largely dominated by India, China, South Korea, and Japan. In China, Thailand, Japan, and Taiwan dimethyl carbonate is a primary material for polycarbonate production. In India, it is mainly applied to the pharmaceutical, paints & Coatings as well as Agrochemical industries making various products such as drugs, paints, or pesticides. For instance, China’s polycarbonate production capacity is estimated to be 582,000 tons owing to 12% of the global capacity.
North American Market Forecast
The North American dimethyl carbonate market is set to register a share of about 24% by 2035. The market growth is propelled by the increasing adoption of environment-friendly intermediates for chemical synthesis. A surge in the demand for dimethyl carbonate from paints and the construction industry is also estimated to contribute to the growth of the market. The market shall continue to grow during the forecast period with companies such as Tesla, researching hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs).
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?