Dimethyl Carbonate Market - By Application (Polycarbonate, Solvent, Pharmaceutical, Pesticide) & Forecast, 2022-2028

Industry Overview

Dimethyl Carbonate Market size surpassed USD 1.03 billion in 2021 and is projected to register a CAGR of 5.3% from 2022 to 2028. Dimethyl carbonate is progressively replacing ethyl, benzene, acetone, xylene, and other chemicals as a solvent, which is favoring its market growth. Rising infrastructure & construction activities, resulting in high demand for paints & coatings, are also boosting market growth as dimethyl carbonate is used in their production.
 

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Asia Pacific, especially countries including India, China & Japan, is witnessing accelerating demand for dimethyl carbonates as consumers are purchasing more vehicles, leading to automotive industry expansion. The application of dimethyl carbonates in the form of a fuel additive is an opportunity, which will bolster market statistics in the near future. Technological advancements and the development of new & sustainable methods to produce dimethyl carbonate will add up to the growing production and fuel the overall market size.
 

The increasing demand for lithium-ion batteries will boost the dimethyl carbonate market demand. Lithium-ion batteries provide the benefit of portable electricity, thus powering gadgets such as mobile phones, laptops & tablets. They also supply energy to medical equipment and power tools. Lithium is considered to be a staple mineral in the mining, energy storage, manufacturing & other sectors. Lithium-ion batteries offer emergency backup power during power loss & fluctuations.
 

Computers and other office equipment such as IT servers need to run continuously to prevent data loss. One of the main applications of lithium-ion batteries is in the automotive industry as power sources for electric, hybrid, or plug-in hybrid electric vehicles. Besides, these batteries can store large amounts of energy and can be recharged. They offer a better charging capacity and a longer lifespan. As the world is increasingly swapping fossil fuel power with emission-free electrification, lithium-ion batteries are becoming an essential storage tool for the facilitation of energy transition. This, in turn, is raising the demand for lithium-ion batteries across the globe.
 

Dimethyl carbonate is a colorless & flammable liquid, which is used as an important solvent of electrolyte in lithium-ion batteries. It is considered to be one of the most promising electrolyte solvents in the production of lithium-ion batteries owing to its good solvation and low viscosity attributes. Thus, the rising demand for lithium-ion batteries will favor the dimethyl carbonate market expansion in the coming years.
 

Exceptional characteristics of polycarbonates to drive dimethyl carbonate demand

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Dimethyl carbonate market from polycarbonate is poised to cross USD 840 million by 2028. Polycarbonate is a transparent thermoplastic that offers design freedom, cost reductions, and aesthetic enhancements to manufacturers & designers. It is known for its capability to maintain strength & color over a long period. It is an extremely transparent & clear plastic that can transit almost 90% light similar to glass. Polycarbonate sheets, which are produced in a wide range of shades, can be subjected to customization, depending on the requirement. Polycarbonate is capable of blocking Ultraviolet (UV) radiation and offering protection from harmful UV rays. It is thermally stable, up to 135°C, and its heat resistance can be further enhanced by adding flame retardants. Owing to the versatile characteristics of polycarbonates, they have various applications, thus leading to the increasing demand for the dimethyl carbonate industry.
 

Rising demand for electronic activities to drive overall market forecasts

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Asia Pacific dimethyl carbonate market will generate a demand of over 200 kilo tons by 2028. The rising application of dimethyl carbonates in the synthesis of polycarbonates, mainly in China, Japan, Malaysia & India, will propel product demand in Asia Pacific. China alone produces around 30% of the global polycarbonates. The incrementing usage of dimethyl carbonates as a solvent in various end-use industries such as automotive, pesticides, and paints & coatings will favor the regional market statistics. The presence of small & medium-sized manufacturers, particularly in China, will support the APAC industry demand. The development of green dimethyl carbonates is considered to be an opportunity for the product in the near future.
 

Joint ventures, partnerships, and acquisitions to drive competition in the industry

Dimethyl carbonate market participants are constantly investing in geographic expansion through joint ventures, partnerships, and mergers & acquisitions to attain a competitive edge in the industry. In July 2021, Asahi Kasei conducted its first license agreement for a technology package to manufacture high-purity dimethyl carbonate using CO2 as one of its main feedstocks. This move was implemented as there was a global increase in demand for dimethyl carbonate, a crucial component of the electrolyte solution in Lithium-Ion Batteries (LIBs) used in electric vehicles & smartphones.
 

The key dimethyl carbonate industry participants include UBE Corporation, SMC Global, Tangshan Chaoyang Chemical, Merck KgaA and Asahi Kasei among others.
 

The dimethyl carbonate market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2028 for the following segments:

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By Application

• Polycarbonate
• Solvent
• Pharmaceutical
• Pesticide
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Russia
  • Italy
  • UK
  • France
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Thailand
  • Indonesia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • GCC