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Dimethyl Carbonate Market Trends 2024 - The Polycarbonate Sector Has Been Stimulating the Global Industry

Author : Ronak Bora | Published Date : 2019-05-08 

Global dimethyl carbonate market share is experiencing inclining growth in the past few years owing to its environment friendly chemical regulations and its competitive price. Its manufacturing technology requires to undergo various stringent guidelines formulated by the license providers, this may hamper industry growth during the forecast period. Furthermore, difficulty synced with technology implementation may further obstruct growth. However, increasing product capability to substitute ethanol as a fuel additive, mainly due to its low toxicity, low vapor pressure and high boiling point will complement industry growth significantly. It also exhibits valued added emission characteristics making it desirable to find application in transportation fuel.

Dimethyl Carbonate Market is projected to sketch a profitable roadmap over the years ahead, subject to the extensive product usage in pesticides, polycarbonates, pharmaceuticals, and solvents. Thriving paints & coatings sector, which is expected to accrue USD 165 billion by 2024, is likely to push the product revenue curve in the upward direction. Rapidly expanding electronics & automotive sectors across APAC along with rise in the number of construction activities in BRIC countries are expected to contribute considerably toward the business expansion. According to Global Market Insights, Inc., “Dimethyl carbonate industry, which generated a revenue of more than USD 410 million in 2015, is anticipated to hit USD 738.2 million by 2024.

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Growing paints & coatings industry mainly due to escalating construction sector will positively influence the global dimethyl carbonate market. The product is an economic and offers superior solubility characteristics. In 2015, paints & coatings industry generated revenue more than USD 110 billion and is forecast to touch USD 165 billion by 2024, with close to 4% growth. Increasing paints & coatings demand owing to its broad application spectrum in construction, automotive parts and industrial will consequently propel the dimethyl carbonate market.

Taking into consideration the geographical trends, Asia Pacific dimethyl carbonate industry, which dominated the regional landscape in 2015, is forecast to experience a considerable expansion over the years to come. Rising consumer preference for high quality paints with the increase in per capita income will drive the regional development. Indonesia, China, and India are expected to be the key regional revenue pockets.

North America dimethyl carbonate market size, which was estimated at more than USD 90 million in 2015, is projected to expand remarkably over the coming seven years. Favorable government policies to improve the public infrastructure along with scaling up of the construction activities is anticipated to support the business expansion. U.S. dimethyl carbonate industry is likely to be a major revenue driver.

Dimethyl carbonate industry size in polycarbonate sector, which was evaluated at more than USD 200 million in 2015, is expected to experience a striking growth over the next few years. Escalating applications of polycarbonates across the medical, automotive, lightning & appliances, glazing, and electronics sectors are expected to boost dimethyl carbonate industry growth. Polycarbonate sector, which produced a revenue of more than USD 14 billion in 2015, is slated to hit USD 22 billion by 2024, which in turn, will help the market players to expand their profits through heavy business investments.

Dimethyl carbonate market share in the solvent sector is anticipated to grow at a CAGR of more than 6% over the coming seven years. The ability to provide exceptional solubility, odor, and low rate of evaporation is expected to make the product more useful in coating resins, concrete coatings, auto refinish, steel drum linings, architectural coatings, floor coatings, and traffic paints. Eco-friendly nature of the product along with its low costs are projected to enhance its demand in the production of solvents and automotive fuels, thereby catalyzing the growth of dimethyl carbonate industry.

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Key insights from the report include:

  • Global dimethyl carbonate market size is set to reach USD 738.2 million by 2024, with estimated gains at 6.6% CAGR.
  • In 2015, dimethyl carbonate market share for polycarbonate generated revenue roughly around USD 200 million. Inclining growth in the electronics and automotive industry accompanied with rising product usage will boost DMC market in the coming years.
  • Solvent applications will expand at over 6% CAGR from 2016 to 2024. The product offers high solubility, evaporation rate and odor, which makes it suitable to find usage in paints & coatings industry. In addition, the product can be used in architectural coatings, architectural coatings and steel drum linings owing to boost business growth.
  • Asia Pacific, particularly led by India China and Indonesia, dominated the dimethyl carbonate market size in 2015. The regional growth was mainly propelled by growing end user industries, including construction and electronics, particularly due to increasing consumer disposable income.
  • In 2015, the global dimethyl carbonate market was moderately fragmented. Some of the product manufacturer contributing the industry share includes AkzoNobel, EMD Millipore Corporation, UBE Industries, HaiKe Chemical Group, Tangshan Chaoyang Chemical and Dongying City Longxing.

Market players are adopting key business growth strategies such as new product development and high R&D funding to increase their ROI. AkzoNobel N.V., HaiKe Chemical Group Limited, EMD Millipore Corporation, Sigma-Aldrich Corporation, All-Chemie Limited, Alfa Aesar, Shandong Shida Shenghua Chemical Group Company Limited, UBE Industries Limited, Dongying City Longxing Chemical Company Limited, and Tangshan Chaoyang Chemical Company Limited are the key participants of dimethyl carbonate industry.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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