Dimethyl Carbonate Market worth $1,148 million by 2026 | Key players Ube Industries, Merck KGaA, Kowa Company, Kishida Chemical, Panax Etec

According to recent market research "Dimethyl Carbonate Market by Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents), End-Use Industry (Plastics, Paints & Coatings, Pharmaceuticals), Grade (Industry, Pharmaceutical, Battery), Region - Global Forecast to 2026", The dimethyl carbonate market is projected to grow from USD 847 million in 2021 to USD 1,148 million by 2026, at a CAGR of 6.3% from 2021 to 2026. Growing demand for lithium-ion battery electrolytes is expected to drive the global dimethyl carbonate market.

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By application, the polycarbonate synthesis segment is estimated to account for the largest share of the dimethyl carbonate market in 2020. Dimethyl carbonate is used to manufacture polycarbonate by the well-established and rapidly expanding non-phosgene melt process. Polycarbonate is used across industries such as automotive and electrical & electronics due to its superior physical properties such as heat resistance, impact resistance, structural stability, and optical transparency. The growing demand from polycarbonate from the automotive and electrical & electronics industries is driving the market for dimethyl carbonate across the globe.

By end-use industry, the plastics segment accounted for the largest share of the dimethyl carbonate market in 2020. Dimethyl carbonate is used as an intermediate in polycarbonate synthesis. PC has become an important environment-friendly and recyclable form of commercial polymer with numerous uses in different industries such as automotive, electrical & electronics. The growing demand for plastic products specially the polycarbonate is expected the drive the demand of dimethyl carbonate across the globe.

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The dimethyl carbonate market is projected to grow from USD 847 million in 2021 to USD 1,148 million by 2026, at a CAGR of 6.3% from 2021 to 2026. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market.

Ube Industries Ltd. (Japan), Merck KGaA (Germany), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Guangzhou Tinci Materials Technology Co., Ltd. (China), Haike Chemical Group (China), Arrow Chemical Group Corp. (China), and Panax Etec (Korea) are some of the leading players operating in the dimethyl carbonate market. These players have adopted the strategies of expansions and joint ventures to enhance their position in the market.

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Ube Industries Ltd. (Japan) is one of the major players in the dimethyl carbonate market. It consists of 140 companies that cover a diverse range of business activities. The company has its manufacturing plants in Ube city, Chiba, Sakai, Isa, Fukuoka, Yamaguchi, and Kanda in Japan. It uses dimethyl carbonate as a solvent in applications such as coatings, adhesives, and resins. It is used as an electrolyte in lithium-ion batteries and as a raw material for organic synthesis reactions. Ube Industries is the sole manufacturer of dimethyl carbonate in Japan. The company, in 2015, entered into a joint venture with CNSG Anhui Hong Sifang Co., Ltd. of China, which will license its technology for manufacturing dimethyl carbonate. CNSG Anhui Hong Sifang Co., Ltd. will construct a manufacturing facility in Hefei, China, to produce dimethyl carbonate that will have an annual production capacity of about 100,000 tons.

Shandong Shida Shenghua Chemical Group Co., Ltd. (China) is the third-largest player operating in the dimethyl carbonate market. It is a China-based company engaged in the manufacture and sales of basic organic chemical products. At present, the company has 13 sets of production equipment that can produce more than 20 kinds of products. Some of the main products offered by the company are dimethyl carbonate, propylene carbonate, ethylene carbonate, ethyl methyl carbonate, lithium hexafluorophosphate, and special additives for electrolytes and methyl tert-butyl ether. The company is a high-quality solvent raw material supplier for many lithium-ion battery electrolyte manufacturers. It claims to produce about 100,000 tons of dimethyl carbonate annually, which is sold to Europe, the Americas, Japan, Korea, and Southeast Asia.

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