Unlocking the Potential of Dimethyl Carbonate in Polycarbonate Resin Production
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.
Browse in-depth TOC on "Dimethyl Carbonate Market"
564 – Tables
49 – Figures
367 – Pages
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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.
Dimethyl Carbonate Companies
Companies such as 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), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Guangzhou Tinci Materials Technology Co., Ltd. (China), Haike Chemical Group (China), Hi-tech Spring (China), Hebei New Chaoyang Chemical Stock Co., Ltd. (China), Shandong Depu Chemical Industry Science & Technology Co., Ltd. (China), Connect Chemicals (Germany), and Qingdao Aspirit Chemical Co., Ltd. (China)., and others are key players in the global dimethyl carbonate market. These players have focused on developmental strategies, such as expansions, partnerships, and new product launches and developments. These have helped them expand their businesses in untapped and potential sectors to enhance their current dimethyl carbonate market positions.
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UBE Corporation, headquartered in Japan, is a diversified chemical company with a global presence. UBE has evolved into a key player in various industries including chemicals, plastics, pharmaceuticals, construction materials, and machinery. UBE's chemical segment encompasses the production of a diverse array of products such as caprolactam, nylon resin, polyethylene, and specialty chemicals. These chemicals find applications in industries ranging from automotive and electronics to infrastructure and healthcare.
Merck KGaA (Germany) is one of the largest player in the dimethyl carbonate market. It is a multinational chemical, pharmaceutical, and life sciences company based in Germany. It conducts researches on drugs used for oncology, autoimmune, and inflammatory diseases as well as in many other areas. The company is into the marketing of cardiovascular, fertility, endocrinology, and over-the-counter products as well as products for flat screens, food, cosmetics, packaging, and coatings.
Thermo Fisher Scientific Inc. is an American multinational corporation. Founded in 2006 through the merger of Thermo Electron and Fisher Scientific, the company has grown to become one of the world's largest providers of scientific instruments, reagents, consumables, software, and services to research, healthcare, industrial, and applied markets. The company’s Life Sciences segment provides a wide range of products and services for life sciences research, including reagents and consumables.
Shida Shenghua Chemical Group has established itself as a leading player in the global chemical industry, with a strong emphasis on technological innovation, product quality, and environmental sustainability. The company's state-of-the-art production facilities and advanced manufacturing processes enable it to deliver high-quality products to customers worldwide while adhering to stringent safety and environmental standards.
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Tokyo Chemical Industry Co., Ltd. is one of the prominent player in dimethyl carbonate market. TCI has established a reputation for excellence in providing a comprehensive range of organic and inorganic compounds, biochemicals, reagents, and custom synthesis services. Tokyo Chemical Industry Co., Ltd. continues to play a vital role in advancing scientific discovery and innovation by providing high-quality chemicals and services that enable researchers to pursue breakthroughs in various fields of study.
