Dimethyl Carbonate Market: Ever-increasing Demand Creates Opportunities for New Entrants, Research By 2023
Browse Market Research Report @ http://www.transparencymarketresearch.com/dimethyl-carbonate-market.html
The TMR report forecasts the revenue in the global dimethyl carbonate market to rise at a steady 6.6% CAGR during 2015 and 2023. Growing at this rate, the market is expected to attain a value of US$690.1 mn by 2023-end from US$440.6 mn in 2016. Volume-wise, the market is slated to reach 599.0 kilo tons by the end of 2023.
Demand from China and Japan Powers Asia Pacific Market
Some of the key application segments in the global dimethyl carbonate market are pharmaceutical, polycarbonate, pesticide, and solvent, among others. Among them, polycarbonates are said to be the main engine for growth in the market and is slated to account for around 53.18% share by volume by 2023-end. The flourishing automotive and electronics industries are generating massive demand for polycarbonates and will continue doing so in the near future as well.
Geographically, the main regions analyzed in the TMR report are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific is a dominant market for dimethyl carbonate in terms of demand. Europe trails Asia Pacific in the second position and is followed by North America in the third position. The market in Asia Pacific is primarily powered by the demand from China and Japan. The report by TMR predicts the Asia Pacific market to hold a substantial 49.26% of the demand by the end of 2023.
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Demand for Polycarbonates Propels Market
At the forefront of driving growth in the global dimethyl carbonate market is the swift uptake of polycarbonates in different industries. End-use industries of automotive and electronics have exponentially driven up the demand for polycarbonates. Both industries are currently growing at a cracking pace and are predicted to maintain the momentum in the near future. Similarly, the paints and coatings industry, which is being boosted by the booming construction industry, is also considerably upping the demand for dimethyl carbonate.
Strict Licensing Policies Act as Roadblock
A factor posing headwinds to the global dimethyl carbonate market is the strict licensing policies pertaining to setting up of plants in different regions. “Currently, license providers to dimethyl carbonate producers are sticking to a restrictive licensing service. Producers of dimethyl carbonate are also having to pay top dollars for obtaining the catalysts and creating the perfect process environment. This makes it difficult to produce dimethyl carbonate on a commercial scale,” says the lead analyst of the report.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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