The global dimethylformamide (DMF) market would grow considerably over 2021-2027 driven by the growing product demand from myriad end-use industries including pharmaceuticals, chemicals, agrochemicals, and electronics. Their demand is also significantly rising amongst companies that produce show sales, artificial leather, adhesives and coatings, and consumer products.
DMF is an odorless and colorless water-miscible liquid solvent that is being used in the production of plastics, synthetic leather, acrylic fibers, and pesticides. Different grades of DMF solvents have diverse characteristics to suit the applications in which they are being employed.
However, the dimethylformamide market is expected to observe hinderance due to the introduction of government regulations and pressure from various regulatory bodies regarding the adverse impact of DMF on human health. Besides, the economic slowdown is further anticipated to decline the sales of DMF products.
Based on the application, DMF is used as a catalyst in the synthesis of acyl halides, and other reactions carried out in the chemical and other significant industries. Besides, it also acts as a catalyst in preparation of corresponding azepine, for the cycloaddition reaction of carbon dioxide to propylene oxide, acylation of aromatic compounds, conversion of both primary and secondary alcohols to bromides, and more. Besides, advancements in the chemical industry and introduction to green and sustainable chemistry would further boost the demand for DMF as catalysts, bolstering the market progression through 2027.
Dimethylformamide is extensively being used across various industries including pharmaceuticals, chemicals, electronics, and more. The pharmaceutical industry makes use of DMF as a crystallization and reaction solvent owing to the compound’s superior solvency parameters.
The growth in DMF market is also expected to come from the widespread product usage in the thriving petrochemical industry. In the sector, DMF is used for the purification of acetylene from butadiene and ethylene from C4 streams.
Regionally, Asia Pacific DMF market is projected to acquire a significant share in the overall DMF market, led by India, China, Japan, and other developing countries. As per reliable estimates, China stands out as one of the largest chemical producers worldwide. Besides, the region is also known for its rising capacity of pesticide production owing to the need for high crop productivity and expanding population. In addition, incessant growth in the technological developments in various electronics and other industries would further drive the product demand, thus influencing the market dynamics over the stipulated time span.
Key players operating in the global dimethylformamide market are Eastman Chemical Company, BASF S.E, Luxi Chemical Group Co., Chemanol, Mitsubishi Gas Chemical, Merck Group (E. Merck KG), Zhejiang Jiangshan Chemical (Zhejiang Communications Investment Group Co., Ltd.), others.
These vendors have been working effortlessly taking up significant measures like mergers, product developments, acquisitions, and more to consolidate their position in the overall DMF market over the forthcoming years.
The coronavirus pandemic has posed severe challenges for the chemical industry by affecting various sectors during 2020. Dimethylformamide market is no exception. The market witnessed a downfall during the realm owing to a decrease in the demand from the chemical and production industries. Besides, low demand and reduced availability of labor is yet another factor that resulted in sluggish demand for DMF worldwide.