JERSEY CITY, N.J., Oct. 13, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Dimethyl Carbonate Market" By Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents), By End-User (Plastics, Paints & Coating, Pharmaceutical, Battery), and By Geography. According to Verified Market Research, the Global Dimethyl Carbonate Market size was valued at USD 0.93 Billion in 2020 and is projected to reach USD 1.51 Billion by 2028, growing at a CAGR of 6.48% from 2021 to 2028.
DMC is a chemical which has numerous applications. Generally, it is mainly polymerized in order to form polycarbonates, and polycarbonates are a type of plastics which are known for their impact resistance, optical transparency, as well as high dielectric strength. Traditional production technique of DMC includes the use of toxic gases like carbon monoxide and phosgene, during the production of DMC there is production of some byproducts like sodium chloride which is harmful and that factor may restrict the DMC market growth.
Dimethyl carbonate is the important raw material for the production of polycarbonate and owing to its good polarity, biodegradability ad reactivity it is being used as fuel additives and cleaning agents. Moreover, the rising demand for paints and coating fuels the market growth. In addition, the green synthesis of dimethyl carbonate from carbon dioxide is anticipated to driving the market growth. However, an outbreak of COVID-19 has shown a negative impact on Dimethyl Carbonate Market due to disruption in logistics.
However, permitting guidelines for manufacturing dimethyl carbonate and failure to implement advanced technology to create desirable manufacturing processes is restricting the market growth. Nonetheless, the rising demand for dimethyl carbonate for lithium-ion batteries where dimethyl carbonate acts as an electrolyte is expected to generate huge opportunities over the forecast period. Moreover, use of highly toxic raw material for DMC synthesis restrains the market growth.
Key Developments inDimethyl Carbonate Market
In July 2019, Ube Industries has declared that they are increasing the production of DMC to its derivative by opening new plant in the United States. The production capability of DMC will be around 50,000 tons and that of purified DMC will be 30,000 tons.
The major players in the market are Shandong Shida Shenghua Chemical Group Co., Ltd. (China), HaiKe Chemical Group Ltd. (China), Alfa Aesar, Thermo Fisher Scientific (US), Ube Industries Ltd. (Japan), Merck KGaA (Germany), Arrow Chemical Group Corp. (China) and Tokyo Chemical Industry Co., Ltd. (Japan).
Verified Market Research has segmented the Global Dimethyl Carbonate Market On the basis of Application, End-User, and Geography.
Dimethyl Carbonate Market, By Application
Dimethyl Carbonate Market, By End-User
Paints & Coating
Dimethyl Carbonate Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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