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Dimethyl Carbonate Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Shandong Haike Chemical Industry Group Co. Ltd., Kowa American Corp., Shandong Wells Chemicals Co. Ltd
Dimethyl Carbonate Market Characteristics
The Business Research Company offers in-depth market insights through Dimethyl Carbonate Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The dimethyl carbonate market size has grown strongly in recent years. It will grow from $1.08 billion in 2023 to $1.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demand for sustainable solvents, focus on renewable chemicals, biomedical research applications, specialty chemicals demand, shift towards green chemistry..
The dimethyl carbonate market size is expected to see strong growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to demand for battery electrolytes, automotive sector integration, advancements in biomedical applications, energy storage solutions demand.. Major trends in the forecast period include regional market expansion, growing environmental awareness, shift towards green chemistry, stringent environmental regulations,substitute for harmful solvents..
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Market Segmentation:
The dimethyl carbonate market covered in this report is segmented -
1) By Grade: Industry Grade (>99.0 weight %) , Pharmaceutical Grade (>99.5 weight %) , Battery Grade (>99.9 weight %)
2) By Application: Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, Other Applications (Fuel Additives, Electrolyte for Supercapacitors, Electrolyte for Dye-synthesized Solar Cells)
3) By End-Use Industry: Plastics, Paints and Coating, Pharmaceutical, Battery, Agrochemicals, Other End-Use Industries (Adhesives & Sealants, Ink, Food & Beverages, and Energy)
Major Driver - Surging Demand For Lithium-Ion Batteries Fuels Dimethyl Carbonate Market Growth
The increased demand for lithium-ion batteries is expected to propel the growth of the dimethyl carbonate market. The lithium-ion (Li-ion) battery is a modern technology that relies on lithium ions in its electrochemistry. Dimethyl carbonate is used as an electrolyte in lithium batteries to increase the octane number instead of MTBE (Methyl tart-butyl ether). For instance, in July 2021, according to an article published by the United Nations Department of Economic and Social Affairs, the Li-ion battery demand increased from 285 GWh in 2019 to 400 GWh in 2022. It is expected to reach 2,000 GWh in 2030, which is about 8% of the global energy supply. Therefore, increased demand for lithium-ion batteries is driving the growth of dimethyl carbonate.
Competitive Landscape:
Major companies operating in the dimethyl carbonate market report are Shandong Haike Chemical Industry Group Co. Ltd., Kowa American Corp., Shandong Wells Chemicals Co. Ltd., Qingdao Aspirit Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Haike Chemical Group, Kindun Chemical Co.Limited, Hefei TNJ Chemical Industry Co.Ltd., Arrow Chemical Group Corp., Dongying City Longxing Chemical Co. Ltd., Hebei New Chaoyang Chemical Stock Co.Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying Hi-tech Spring Chemical Industry Co. Ltd, Aarsha Chemicals Private Limited, Tongling Jintai Chemical Industrial, UBE Industries, Tangshan Chaoyang Chemical Co. Ltd., Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Linyi Evergreen Chemical Co. Ltd., Akzo Nobel N.V., Alfa Aesar, Taizhou Lingyu Chemical Co. Ltd., Sigma-Aldrich Co. LLC, Dongying Jintan Chemical Co. Ltd., Luxi Chemical Group Co.Ltd., Dongying Xinyuan Chemical Co. Ltd., Dongying City Shuangma Chemical Co. Ltd., Dongying Dafeng Chemical Co. Ltd.
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Top Trend - Dimethyl Carbonate Market Embraces Product Innovation With Asahi Kasei's Pioneering Technology
Product innovation is a key trend gaining popularity in the dimethyl carbonate market. Major players in the dimethyl carbonate market are channelling their resources to develop innovative products to remain competitive in the market. For instance, in July 2021, Asahi Kasei, a Japan-based chemicals company, completed its first licensing deal for a technology package to produce high-purity ethylene carbonate (EC) and high-purity dimethyl carbonate (DMC), utilizing CO2 as one of the primary feedstocks. This license will aid in meeting the growing demand for high-purity EC and DMC, which are used as components of the electrolyte solution of lithium-ion batteries (LIBs) utilized in smartphones and electric cars.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dimethyl Carbonate Market Characteristics
3. Dimethyl Carbonate Market Trends And Strategies
4. Dimethyl Carbonate Market - Macro Economic Scenario
5. Dimethyl Carbonate Market Size And Growth
…..
27. Dimethyl Carbonate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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