CHICAGO, April 12, 2024 /PRNewswire/ — The report “Dimethyl Carbonate Market by Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents), End-Use Industry (Plastics, Paints & Coatings, Pharmaceuticals), Grade (Industry, Pharmaceutical, Battery), and Region – Global Forecast to 2028″, size is projected to grow from USD 1.1 billion in 2023 and reach USD 1.9 billion by 2028, at a CAGR of 12.7% from 2023 to 2028. The demand for dimethyl carbonate as a key ingredient in battery electrolytes is experiencing significant growth. The expanding market for electric vehicles and renewable energy technologies further drives the growth of the DMC market are the key drivers for the dimethyl carbonate market.
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Polycarbonate synthesis is estimated to hold the most significant share of the global dimethyl carbonate market by application.
By application, polycarbonate synthesis is estimated to dominate the dimethyl carbonate market globally. Polycarbonate derived from DMC offers excellent mechanical properties, optical clarity, and thermal resistance, meeting the stringent performance requirements of modern applications. As a result, manufacturers are increasingly turning to DMC-based polycarbonates to meet market demands for high-quality and eco-friendly materials. This factor is expected to fuel the overall market.
By end-use industry, the plastic segment will lead the dimethyl carbonate market during the forecast period.
In terms of end-use industry, the plastic segment is anticipated to hold the leading position in the dimethyl carbonate industry. The plastic segment in the dimethyl carbonate market is witnessing growth fueled by increasing demand for eco-friendly polycarbonates, advancements in material science and technology, and a focus on circular economy principles. As industries strive to meet sustainability goals and regulatory requirements, DMC-based plastics offer a promising solution for developing environmentally friendly and high-performance plastic materials.
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By grade, the industrial grade segment will lead the dimethyl carbonate market during the forecast period.
Regarding grade, the industrial grade segment is anticipated to lead in the dimethyl carbonate industry. Dimethyl carbonate is considered a greener alternative to many traditional solvents and methylating agents due to its low toxicity, biodegradability, and minimal environmental impact. This factor is anticipated to contribute the growth of dimethyl carbonate market in various industries.
During the forecast period, Asia Pacific will lead the global dimethyl carbonate market.
In 2022, the Asia Pacific region held the dominant share in the global dimethyl carbonate industry. Forecasts suggest this region will experience a significant Compound Annual Growth Rate (CAGR) between 2023 and 2028. One crucial factor is the rapid economic growth and urbanization in countries like China, India, and Southeast Asian nations, resulting in a surging demand for greener solution. As these economies seek sustainable and clean energy solutions, dimethyl carbonate has become crucial in meeting their increasing needs.
Key Players
Some of the leading manufacturers of dimethyl carbonate profiled in this report are UBE Corporation (Japan), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (UK), Lotte Chemical (South Korea), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), Tokyo Chemical Industry Co., Ltd. (Japan), and Shandong Shida Shenghua Chemical Group Co., Ltd. (China).
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