Press release
Dimethyl Carbonate Market: Strong Growth Predicted with CAGR of 6.9% by 2029
Dimethyl Carbonate Market Forecast
Driving Factors and Emerging Trends in the Global Dimethyl Carbonate Market
What Is The Projected Market Size Of The Global Dimethyl Carbonate Market And Its Growth Rate?
The global dimethyl carbonate market has shown persistent growth, with projected values specified below.
• The market is anticipated to grow from $1.13 billion in 2024 to $1.2 billion in 2025, marking a compound annual growth rate (CAGR) of 5.8%.
• By 2029, the market size is expected to reach $1.57 billion, at a CAGR of 6.9%.
Driving factors can be attributed to demand for sustainable solvents, focus on renewable chemicals, and advancements in the biomedical and automotive sectors, among others.
What Is Driving The Growth In The Dimethyl Carbonate Market?
The primary factor influencing growth in the dimethyl carbonate market is the escalating demand for lithium-ion batteries, where dimethyl carbonate is employed as an electrolyte. As per International Energy Agency statistics, automotive lithium-ion battery demand increased drastically, by about 65% to 550 GWh in 2022. This is generated by a significant rise in electric passenger car registrations, particularly in China and the U.S., propelling the demand for dimethyl carbonate significantly.
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Who Are the Key Players Driving Dimethyl Carbonate Market Growth?
The dimethyl carbonate market is largely driven by these major players:
• Shandong Haike Chemical Industry Group Co. Ltd.
• Shandong Wells Chemicals Co. Ltd.
• Qingdao Aspirit Chemical Co. Ltd.
• Shandong Feiyang Chemical Co. Ltd.
• Kindun Chemical Co.Limited
• Hefei TNJ Chemical Industry Co.Ltd.
• 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
• Tongling Jintai Chemical Industrial
• UBE Industries
What Are The Key Trends In The Dimethyl Carbonate Market?
Noteworthy trends in the dimethyl carbonate market include:
• Expansion of regional markets.
• Increased environmental awareness.
• The shift towards green chemistry.
• Implementation of stringent environmental regulations.
• The use of dimethyl carbonate as a substitute for harmful solvents.
What Are The Segments Of The Global Dimethyl Carbonate Market?
The global dimethyl carbonate market can be segmented into:
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
3) By End-Use Industry: Plastics, Paints And Coating, Pharmaceutical, Battery, Agrochemicals, and others
Which Region Leads The Dimethyl Carbonate Market?
In 2024, Asia-Pacific was the leading region in the dimethyl carbonate market. The growth in this region can be attributed to the increasing demand in industries such as plastics, paints and coating, pharmaceuticals, and batteries among others.
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What Is Covered In The Dimethyl Carbonate Market Global Market Report?
- Market Size Analysis: Analyze the Dimethyl Carbonate Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Dimethyl Carbonate Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Dimethyl Carbonate Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Dimethyl Carbonate Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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