Dimethylformamide Market Size to witness heavy growth prospects via agrochemical end-user segment

Based on the end-user segment, dimethylformamide market is segmented into agrochemical, electronics, chemical & petrochemical, pharmaceutical and others. In the agrochemical industry, DMF is used as a solvent in pesticide manufacturing. Growing pesticide demand across the globe to improve the agriculture industry output/yield, will make subsequent positive impact on the dimethylformamide market size in the coming years. The pesticide industry is anticipated to witness gains close to 6% globally, which will subsequently drive the product demand and thus will make noteworthy impact on the overall DMF market size by 2025.

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Based on the application, dimethylformamide (DMF) market is segmented into catalyst, reactant and feedstock. It is applicable as catalyst in several reactions carried out in the chemical and other end-user industries. For instance, it is used as a catalyst in the synthesis of acyl chloride from carboxylic acid by using oxalyl or thionyl chloride. Moreover, it is extensively used as an inexpensive commercially available solvent in the chemical industry owing to its aprotic and hydrophilic properties. Furthermore, it is also used as a reagent in several reactions namely Vilsmeier–Haack reaction, Friedel–Crafts reaction, Beckmann rearrangement, among several others. In the Vilsmeier–Haack reaction, DMF is used in the formylation of aromatic and non-aromatic compounds.

Dimethylformamide (DMF) Market size is poised to see healthy growth rate from 2019 to 2025 due to rising product demand from agrochemical, chemical, pharmaceutical and electronics industry. In pharmaceutical industry, DMF is widely applied as a reaction & crystallization solvent as the product possess excellent solvency features. Asia Pacific pharmaceutical industry is growing rapidly with the key players making substantial investment in their R&D facilities to develop innovative solutions, which will have subsequent positive impact on the dimethylformamide market size in the forecast timeframe. According to IBEF, Indian pharmaceutical companies spend approximately 8 to 11% of their total turnover on R&D to develop innovative solutions/drugs.

DMF is widely used as a solvent, catalyst and reactant in the chemical & petrochemical industry. For instance, inorganic and organic residues are highly soluble in DMF and therefore it is used as a cleaner for hot dip tinned parts in the chemical industry. Moreover, product is widely applicable across electronics industry owing to its high solvency. For instance, high solubility of inorganic substances in DMF results in the production of high voltage capacitors in the electronic industry. Strong growth in the electronics industry mainly in North America, owing to rapid technology advancement, is likely to exert positive influence on the dimethylformamide (DMF) market size in the forecast timeframe.

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Prolonged human exposure to DMF is considered harmful, owing to its carcinogenic behavior as suggested by International Agency for Research on Cancer (IARC), which is likely to hinder the growth of dimethylformamide market share in the forecast timeframe. However, rising product demand from the various end-user’s industry will generate ample opportunities, which will help attain promising gains to the overall DMF market in the coming years.

Asia Pacific dimethylformamide market value is majorly contributed to the positive growth trends from agrochemical, chemical, electronics and pharmaceutical industry. For instance, India is the fourth largest pesticide producer with an estimated market size of USD 4.9 billion in 2017, after U.S., China and Japan.

Some of the key players in the dimethylformamide (DMF) market are BASF, Chemanol, Eastman Chemical Company, HELM AG, Luxi Chemical Group, Merck, PaariChem, The Chemours, Mitsubishi Gas Chemical and Zhejiang Jiangshan Chemical, among several others. These players have wide-ranging product portfolio and strategically placed R&D facilities to carry out technical advancements to gain an edge over its competitors.

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