Market Overview
The
Global Dimethyl Carbonate Market is expected to mark a valuation of
USD 955.8 million in 2023 and further achieve a valuation of
USD 1661.6 million by 2032, reflecting a
CAGR of 6.3% from 2023 to 2032 (Forecast period). Dimethyl Carbonate (DMC) is an environmentally friendly & non-toxic organic compound (chemical formula OC(OCH3)2). It's a clear liquid & serves as a carbonate ester that can easily catch fire & vaporize. It dissolves rapidly in solvents such as alcohols & ethers. Dimethyl Carbonate is a valuable solvent & safe chemical. It appears clear & has no smell, but it can catch fire easily. Also, it reacts with other chemicals strongly.
As a nonpolar aprotic solvent, it's excellent for mixing, quickly biodegrades, & is safe. It's commonly made from carbon dioxide & methanol and has been used across sectors. Earlier it was made using dangerous phosgene. Dimethyl Carbonate has diverse uses, mainly in developing strong plastics like polycarbonate, known for its clarity, toughness, & electrical strength.
This chemical has a diverse range of utility in several sectors. In paint & coating production, it's utilized as a solvent as it works well with other chemicals. It's also a vital part of lithium-ion batteries, meeting the demand for devices such as hybrid vehicles & laptops.
Market Dynamic
The market is growing mainly due to the rising need for polycarbonate across several sectors. Polycarbonate is highly valued for its stability in heat and chemicals, strength, & dimensional reliability, making it extensively utilized in cars, electronics, construction,
healthcare & consumer products. This popularity positions polycarbonate as a top engineering thermoplastic. As the need for polycarbonate continues to surge in various sectors, the global production capacity is set to elevate.
China plays a significant role in polycarbonate production, particularly for construction & automotive applications in the Asia Pacific region. Enhanced customer spending & investment in electronics & cars fuel the demand for plastic polymers in these sectors. In traditional manufacturing, harmful substances like sodium chloride are produced using harmful gases such as carbon monoxide & phosgene. Disposing of NaCl can harm the environment, especially in large amounts. However, there's a positive aspect: companies in the market can tap into new opportunities by making better use of dimethyl carbonate as a solvent in making flavorings, polymers, & insecticides. This shift opens up an avenue for manufacturers to explore further & grow their businesses.
Research Scope and Analysis
By Grade
Under the segmentation of Grade, the market is classified into three segments: Industry Grade,
Pharmaceutical Grade, & Battery Grade. Specifically, the industry-grade category commands its dominance with the maximum market share in 2023, majorly because of its several applications. It functions as a major component in manufacturing polycarbonate while also serving as a solvent within the realm of paints & coatings and as a reagent in the domain of pesticides.
The burgeoning requirement for polycarbonates from several sectors such as electrical, automotive, & electronics stands as a driving force behind the robust growth seen in the industry-grade Dimethyl Carbonate Market.
By Application
Under the segmentation of application, the market is distinguished under six categories, i.e., Battery Electrolytes, Solvents, Polycarbonate Synthesis, Reagents, and Others. Significantly, the Polycarbonate Synthesis segment holds a substantial portion, of the market share, marking its dominance in 2023. This dominance can be attributed to the pivotal role played by dimethyl carbonate as an intermediary in the intricate process of manufacturing polycarbonate.
Polycarbonates are known for their superior material characteristics such as heat resistance, impact resilience, transparency, and structural integrity. They find extensive applications across various sectors such as electrical, automotive, & electronics. The burgeoning demand for polycarbonates, propelled by the electrical, automotive, & electronics sectors, emerges as a vital factor propelling the global growth trajectory of the Dimethyl Carbonate Market.
By End User
Segmented by end-users, the Global Dimethyl Carbonate Market encompasses Pharmaceuticals, Plastics, Paints & Coatings, Batteries, Agrochemicals, and other sectors. Among these segments, the
Plastics sector emerges as the frontrunner, holding a maximum share of the Dimethyl Carbonate Market in 2023. Notably, dimethyl carbonate functions as a vital intermediary in the production of polycarbonates.
The importance of polycarbonates lies in their eco-friendly & recyclable nature, serving several applications in sectors such as electronics, automotive, & electrical engineering. The escalating demand for plastic items, especially the extensive role of polycarbonates, is poised to drive global dimethyl carbonate consumption toward substantial growth.
The Dimethyl Carbonate Market Report is segmented on the basis of the following
By Grade
- Industrial Grade
- Pharmaceutical Grade
- Battery Grade
By Application
- Battery Electrolytes
- Solvents
- Polycarbonate Synthesis
- Reagents
- Others
By End User
- Plastics
- Pharmaceuticals
- Paints & Coatings
- Battery
- Agrochemicals
- Others
Regional Analysis
The Dimethyl Carbonate Market on a global scale has flourished well, with the Asia-Pacific region standing out as a significant growth hub, commanding the highest revenue share of 35.6% in 2023. This elevated trajectory owes itself to the rapid expansion of the manufacturing units across the Asia-Pacific region, increased industrialization, & the surging requirement for lithium-ion batteries in the electronics & automotive sectors products.
Among the pivotal players driving this expansion in the Asia-Pacific sphere are prominent countries like China, India, Japan & South Korea. With the rapid increase in the synthesis of polycarbonate, these nations have played a central role in fostering the progress of the Global Dimethyl Carbonate Market, spotlighting the region's dynamic & substantial contribution to the industry's enhanced growth.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Key players in the dimethyl carbonate market are significantly boosting R&D investments to introduce innovative, high-efficiency actuators, ensuring enhanced reliability. Concurrently, they are implementing strategic approaches such as collaborations, product launches, mergers, and acquisitions. For instance, UBE Corporation's milestone in July 2022 involved the successful initiation of ethyl methyl carbonate and dimethyl carbonate production in Louisiana, USA. This strategic step aligns with the company's goal of catering to the growing demand for these chemicals in electric vehicle battery applications. The choice of location underscores its commitment to optimizing operational conditions. By venturing into these chemical productions, UBE Corporation not only fosters business expansion but also underscores its dedication to eco-friendly product offerings, reinforcing its market presence and sustainability endeavors.
Some of the prominent players in the Global Dimethyl Carbonate Market are:
- WEGO Chemical Group
- Hefei TNJ Chemical Industry CO. Ltd.
- Akzo Nobel
- Thermo Fisher Scientific
- Connect Chemicals
- Shandong Haike Chemical Group Co., Ltd.
- Qingdao Aspirant Chemicals Co.
- Aceto Corporation
- Ube Industries Ltd.
- Merck KGaA
- Kowa Company Ltd.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Dimethyl Carbonate Market
The Global Dimethyl Carbonate Market underwent substantial effects resulting from the COVID-19 pandemic & subsequent economic recession. The disruption of supply chains, reduced labor pools, & reduced industrial operations initially led to less demand across several sectors. Lockdown measures and travel restrictions introduced complications in manufacturing processes & distribution of materials. Industries with significant dependencies on dimethyl carbonate, such as electronics & automotive, experienced pronounced setbacks. However, segments such as pharmaceuticals & plastics displayed resilience because of their essential nature. As economies gradually restart, the demand for dimethyl carbonate regained momentum, especially within environmentally sustainable domains. Market participants responded by fortifying operational adaptability, diversifying application scopes, and focusing on sustainable practices. While the immediate aftermath brought challenges, the market's intrinsic flexibility & commitment to innovation-driven strategies are poised to drive recovery & expansion over the long term.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 955.8 Mn |
| Forecast Value (2032) |
USD 1,661.6 Mn |
| CAGR (2023-2032) |
6.3% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Grade (Industrial Grade, Pharmaceutical grade, By
Application (Battery Electrolytes, Solvents,
Polycarbonate Synthesis, Reagents, and others), and
By End-User (Plastics, Pharmaceuticals, paints &
Coatings, Battery, Agrochemicals, and Others). |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
WEGO Chemical Group, Hefei TNJ Chemical Industry
Co. Ltd., Akzo Nobel, Thermo Fisher Scientific,
Connect Chemicals, Shandong Haike Chemical Group
Co., Ltd., Qingdao Aspirant Chemicals Co, Aceto
Corporation, Ube Industries Ltd., Kowa Company Ltd.,
and Other Key Players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Dimethyl Carbonate Market is expected to mark a valuation of USD 955.8 million in 2023.
The Global Dimethyl Carbonate Market is expected to grow at a rate of 6.3% (CAGR) from 2023 to 2032.
The Asia-Pacific region dominates the Global Dimethyl Carbonate Market with a revenue share of 35.6%
in 2023.
Some of the prominent key players in the Global Dimethyl Carbonate Market include WEGO Chemical
Group, Hefei TNJ Chemical Industry Co. Ltd., Akzo Nobel, Thermo Fisher Scientific, Connect Chemicals,
Shandong Haike Chemical Group Co., Ltd., Qingdao Aspirant Chemicals Co, Aceto Corporation, Ube
Industries Ltd., etc.