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Dimethyl Carbonate Market Analysis by Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, and Reagents); by End Use (Plastics, Paints & Coatings, Pharmaceuticals) and by Grade (Industry, Pharmaceutical, and Battery) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

Buy Now Report ID: 4890 | Published Date: May 02, 2023

Global Dimethyl Carbonate Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Dimethyl Carbonate Market size is estimated to reach ~USD 7 Billion by the end of 2035 by growing at a CAGR of ~10.20% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of dimethyl carbonate was ~USD 2 Billion. The growth of the market can be attributed to the increasing demand for dimethyl carbonate from various end-user such as construction, automotive, paints, and others. Further, the demand for lithium-ion batteries which uses dimethyl carbonate as electrolytes are also anticipated to contribute to the market growth. The lithium-ion battery market size is estimated to be USD 90 Billion by the year 2030 and is predicted to increase further in the years to come.

In addition to these, factors that are believed to fuel the market growth of dimethyl carbonate include soaring investments, and collaboration between major key players 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. In the production facility, about 50 000 tons of dimethyl carbonate will be produced as well as 20,000 to 30,000 tonnes of hydrogen carbonate. Additionally, the growing number of awareness campaigns on the use of dimethyl carbonated as oxygenated fuel is predicted to present the potential for market expansion over the projected period.


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Global Dimethyl Carbonate Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~10.20%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2035)

~ USD 7 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Dimethyl Carbonate Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Demand for Electronics – Dimethyl carbonate is the most important component of this electrolyte solution in lithium-ion batteries. LIBs are used in electric cars and smartphones. On account of the increasing use of lithium-ion batteries, the market is expected to expand more in the upcoming years. The global lithium-ion battery market is estimated to be USD 40 Billion in the year 2021 and is predicted to grow during the forecast period.
  • Increasing Collaborations, and Partnerships by Key Players in the Industry – In order to gain a competitive edge in the industry, dimethyl carbonate market participants constantly invest in expanding their geographical coverage through joint ventures, partnerships, and mergers and acquisitions. Asahi Kasei entered into a license agreement in July 2021 covering the technology package for the production of High purity dimethyl carbonate by CO2 as one of its primary feedstocks.
  • Increasing Demand for Polycarbonate from Various End-Users – Dimethyl carbonate is used as an intermediate to synthesize polycarbonate. Polycarbonate is widely used in engineering thermoplastics across industries such as electrical & electronics, automotive, building & construction, consumer products, and medical, and its demand is increasing due to its properties such as transparency, strength, thermal stability, chemical & heat resistance, and dimensional stability. Global demand for polycarbonates is estimated to be 4.51 million metric tonnes in the year 2022 and is predicted to keep growing in the years to come.
  • Increased Use of Dimethyl Carbonate as an Oxygenated Fuel Additive – Dimethyl carbonate has been recommended by many researchers as a replacement fuel or oxygenated additive for diesel and gasoline because of properties such as nontoxic production, environmentally friendly, free from corrosive substances due to safe handling. This is anticipated to drive the market growth. Estimates suggest 40% of fossil fuels increment by the year 2025, leading to an increased need for replacement or alternative fuel sources.

Challenges

  • Use of toxic material for DMC synthesis- The conventional method of DMC production involves the use of dangerous gases like phosgene and carbon monoxide, which in turn generate harmful metabolites. Phosgene's an extremely hazardous chemical that may cause serious health problems. Even disposal of their processing waste products can be extremely harmful to the environment.
  • Reduced efficiency of DMC due to moisture absorption Use of toxic material for DMC synthesis
  • Fluctuations in oil and gas prices


Global Dimethyl Carbonate Market Segmentation

The global dimethyl carbonate market is segmented and analyzed for demand and supply by application into polycarbonate synthesis, battery electrolytes, solvents, and reagents. Out of the four types of dimethyl carbonate, the polycarbonate synthesis segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be attributed to the increasing use of polycarbonates by multiple end-user industries such as electronics, medical, and others. Dimethyl carbonate is used in the process of synthesizing polycarbonates and hence is estimated to contribute to the segment growth in the forecast period. 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 and is predicted to grow throughout the forecast period.

The global dimethyl carbonate market is also segmented and analyzed for demand and supply by grade into industry, pharmaceutical, and battery. Among these three segments, the industry segment is expected to garner a significant share in the year 2035. The use of industry-grade DMC is widespread in various applications like paint & coating, reagents, or pesticides. Owing to the growing demand for polycarbonate from end-use industries, such as automotive and electronics, industry-grade DMCs are being adapted in an increasingly large way. Further, the increased demand for dimethyl carbonate from the automotive industry is being driven by vehicles and modern performance equipment. Demand for dimethyl carbonate has been driven by an increase in consumption of consumer goods and electronic products due to rising disposable incomes, as well as improving living standards. These factors are predicted to contribute to the growth of the segment in the forecast period.

Our in-depth analysis of the global dimethyl carbonate market includes the following segments:

      By Application

  • Polycarbonate Synthesis
  • Battery Electrolyte
  • Solvents
  • Reagents

     By End Use

  • Plastics
  • Paints & Coatings
  • Pharmaceuticals

     By Grade

  • Industry
  • Pharmaceutical
  • Battery

 


Global Dimethyl Carbonate Market Regional Synopsis

regional-synopsis

The market share of dimethyl carbonate in the Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the increasing use of dimethyl carbonate by various end users such as 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 while 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 tonnes owing to 12% of the global capacity. In addition, the region's expanding pharmaceutical industry and rising paints and pesticides industry are also anticipated to boost the market growth during the forecast period.

The North American dimethyl carbonate market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing adoption of environment-friendly intermediates for chemical synthesis. Further, 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 in the forecast period. In addition, following the removal of DMC from the VOC list in 2009, there has been a substantial rise in demand for it in North America. 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). All these factors are anticipated to boost the market growth during the forecast period.

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing adoption of oxygenated fuels for synthesis. The use of fossil fuels in the region is reducing owing to environmental concerns. Hence, the need for green alternatives like dimethyl carbonate increases. All these factors are anticipated to contribute to the growth of the market in the forecast period.

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Top Featured Companies Dominating the Global Dimethyl Carbonate Market

top-features-companies
    • Alfa Aesar
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Connect Chemicals
    • Dongying Hi-tech Spring Chemical Industry Co., Ltd.,
    • Guangzhou Tinci Materials Technology Co., Ltd.,
    • Haike Chemical Group
    • Hebei New Chaoyang Chemical Stock Co., Ltd.,
    • Kishida Chemical Co. Ltd.,
    • Kowa Company Ltd.,
    • Lotte Chemical
    • Merck KGaA,
    • Shandong Depu Chemical Industry Science and Technology Co., Ltd.,

In-the-news

In The News

  • Lotte Chemical issued a plan to expand the company and intends to lay down a new production facility that will produce large-quality Organic solvents such as dimethyl carbonate for lithium-ion battery electrolytes.
  • Merck announced an investment of 22.9 million US dollars to enhance research & The ability to develop and manufacture from its site in Shizuoka Japan. New infrastructure to advance and speed up innovations in the electronics materials sector will be built under this plan.

preview-analysis

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Smruti Ranjan, Rajrani Baghel


Key Questions Answered in the Report

1) What are the major factors driving the growth of the dimethyl carbonate market?

Ans: Increasing demand for dimethyl carbonate from the electronics sector, increasing demand for polycarbonates, and rising R &D investments are the major factors driving the market growth.

2) What would be the CAGR of dimethyl carbonate market over the forecast period?

Ans: The market size of dimethyl carbonate is anticipated to attain a CAGR of ~10.20% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the dimethyl carbonate market growth?

Ans: The use of toxic materials for synthesis, and moisture absorption by DMC are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of dimethyl carbonate market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the dimethyl carbonate market?

Ans: The major players in the market are Alfa Aesar, Connect Chemicals, Dongying Hi-tech Spring Chemical Industry Co., Ltd., Guangzhou Tinci Materials Technology Co., Ltd., Haike Chemical Group, Hebei New Chaoyang Chemical Stock Co., Ltd., Kishida Chemical Co. Ltd., Kowa Company Ltd., Lotte Chemical, Merck KGaA, Shandong Depu Chemical Industry Science and Technology Co., Ltd.,

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the dimethyl carbonate market?

Ans: The market is segmented by application, end-use, grade, and by region.

8) Which segment captures the largest market size in the application segment in the dimethyl carbonate market?

Ans: The polycarbonate synthesis segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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