Dimethyl Carbonate Market Size

Dimethyl Carbonate Market Size

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.

To get key market trends

  Download Free Sample

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.