The dimethyl carbonate market is primarily supported by the growing industrialization robust in the demand in paints and electronic sector In addition the growing demand of lithiumion batteries in the production of electronic vehicles has proliferated the market growth of the dimethyl carbonate ID: 904089
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Dimethyl Carbonate Market Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2021-2027
Slide2Dimethyl Carbonate Market-
Industry Trends & Forecast Report
2027A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global dimethyl carbonate market was worth USD 796.8 Million in 2020 and is further projected to reach USD 1,198.6 Million by 2027, at a CAGR of 6.4% during the forecast period (2021-2027). The dimethyl carbonate market is primarily supported by the growing industrialization, robust demand in paints, and the electronic sector. In addition, the increasing demand for lithium-ion batteries in the production of electronic vehicles has favored the growth of the dimethyl carbonate market. Market growth is also driven by environmental concerns and the desire for no emission of volatile organic compounds, as dimethyl carbonate emits minimally harmful substances.
Slide3Growth Drivers Rise in Demand for Lithium-Ion Batteries
Lithium-ion batteries are widely used in electronic devices like
smartphones, electronic cars, power banks, and headphones. The properties of dimethyl carbonate, like strength, transparency, chemical, and heat resistance, are best suited for electronics and automotive and are likely to propel the global dimethyl carbonate market growth. Since new players are entering the market, the demand for lithium batteries to power the electronic devices has increased rapidly, which in turn drives the growth of dimethyl carbonate in the global market. According to Mercom Capital Corp, battery energy storage companies received USD 536 million in VC funding in the first half of 2020.
Slide4RestraintsUse of Highly Toxic Raw Material for Dimethyl Carbonate Synthesis
The raw material used for the synthesis of
dimethyl carbonate is highly toxic. Dimethyl carbonate is a green solvent, but the process used for manufacturing dimethyl carbonate is highly toxic. It involves toxic gases like phosgene and carbon monoxide, which are considered harmful for the environment. Traditionally all the manufacturers use the same method where phosgene is used; phosgene is harmful even at low concentrations. It can cause severe health problems or even death to people hindering the growth of the market. Moreover, several dimethyl carbonate production methods produce sodium bicarbonate as a by-product, which is also a very harmful element for the environment, limiting the dimethyl carbonate market's growth.
Slide5Impact of COVID-19COVID-19 has negatively impacted the dimethyl carbonate market as due to lockdown and trade
restrictions.The
global demand for dimethyl carbonate witnessed a sharp decline as there was less demand from the end-user industry during the global health crisis. The automotive, paints and coating industry and batteries industry has seen a downfall in volume sales. The key industry players of automotive and paints and coating companies have registered less revenue in the financial year 2020, which hindered the growth of the dimethyl carbonate market. The shutdown of operations in China and other Asia Pacific countries has had a significant impact on battery makers in the United States, Germany, and Australia.
Slide6Regional InsightsThe dimethyl carbonate market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, wherein the Asia-Pacific accounts for the highest share. Among these regions, the Asia-Pacific region is expected to be the largest and fastest-growing market. Increasing preference for superior and top-quality paints is driving the growth of the market in the Asia Pacific. The market growth of
dimethyl
carbonate can be attributed to the high consumption of dimethyl carbonate in electronics, automotive, and paints and coatings industries. In addition, a large consumer base and rising disposable income are propelling the regional market. Moreover, leading players operating in the Asia-Pacific region are driving the growth of the dimethyl carbonate market.
Slide7Key PlayersKey players for dimethyl
carbonate market are: Alfa
Aesar, Thermo Fisher Scientific (US), Ube Industries Ltd. (Japan), Merck KGaA (Germany), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), HaiKe Chemical Group Ltd. (China), Arrow Chemical Group Corp. (China), Tokyo Chemical Industry Co., Ltd. (Japan), Tongling Jintai Chemical Industrial Co., Ltd. (China), Tangshan Chaoyang Chemical Co., Ltd., (China), and Kowa India Pvt. Ltd. (India)Sample Copy of the Report:https://www.blueweaveconsulting.com/report/
dimethyl
-carbonate-market/report-sample
Slide8Competitive landscapeKey players in the dimethyl carbonate market are Alfa
Aesar
, Thermo Fisher Scientific (US), Ube Industries Ltd. (Japan), Merck KGaA (Germany), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), HaiKe Chemical Group Ltd. (China), Arrow Chemical Group Corp. (China), Tokyo Chemical Industry Co., Ltd. (Japan), Tongling Jintai Chemical Industrial Co., Ltd. (China), Tangshan Chaoyang Chemical Co., Ltd., (China), and Kowa India Pvt. Ltd. (India). The market players compete on the basis of the given product quality and the new and cost-effective manufacturing process, which can give them better yield and optimize the process for more and better production.
Slide9About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off.
Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.
Slide10Contact Us: +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662 info(@)blueweaveconsulting.com www.blueweaveconsulting.com