Dimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (Industrial Grade, Battery Grade, Pharmaceutical Grade, Others), By Method of Preparation (Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, Direct Synthesis from CO2 & Methanol), By Application (Polycarbonate, Solvents, Reagents, Others)
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationDimethyl Carbonate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (Industrial Grade, Battery Grade, Pharmaceutical Grade, Others), By Method of Preparation (Phosgenation of Methanol, Oxidative Carbonylation of Methanol, Transesterification of Urea, Direct Synthesis from CO2 & Methanol), By Application (Polycarbonate, Solvents, Reagents, Others)
In 2021, the price of one metric ton of battery-grade lithium carbonate in China stood at more than USD 43,700.
Global Dimethyl Carbonate market is expected to expand during the projected period due to increasing demand of battery grade as it is one of the promising electrolyte solvents in the production of lithium-ion batteries due to its good solvation and low viscosity attributes. Dimethyl carbonate (DMC) is a non-toxic organic compound with the formula OC(OCH3)2. It is a colorless, flammable liquid. Dimethyl Carbonate is classified as carbonate ester. It is used as methylating agent and also used as a solvent with no restriction like other volatile organic compounds (
For instance, In November 2021, Tangshan Chaoyang Chemical Co. Ltd. announced an investment of USD 93 million to expand its DMC production capacity.
Consumer inclinations to select new technologies in order to maximize profit are fueling market expansion. Consequently, it is predicted that the global dimethyl carbonate market will expand throughout the forecast period.
Increasing Adoption of Battery Grade
In the current scenario, global warming is one of the major issues in the world. The main source behind this is fossil fuels. Large amount of greenhouse gases in the environment result in change the climate cycle which ultimately generates so many issues like pollution, melting of glaciers etc. To overcome this problem, many industrialists and researchers focus on alternate source of energy. From the following years many research in the same field is going on but the exact solution still needs to be made found at. Many innovation ideas are welcome to sort out this issue. On the best innovative idea which get boom in the todays market is E-vehicles. As E-vehicles does not require any fossil fuel and not generates any harmful gases. But E-vehicle needs a battery for their running, so the main concern now arises regarding the battery. Today lithium-ion batteries are use in automobile industry as a source of power for electric, hybrid, or plug-in hybrid electric vehicles. Besides, these batteries can store large amounts of energy and can be recharged. They offer a better charging capacity and a longer lifespan. Consumption for dimethyl carbonate will rise as a result of rising lithium-ion battery demand. Mobile phones, computers, and tablets are powered by lithium-ion batteries, which offer the convenience of portable electricity. Power tools and medical equipment are also given energy by them. In the mining, energy storage, manufacturing, and other industries, lithium is regarded as a staple material. During power outages and fluctuations, lithium-ion batteries provide emergency backup power. To avoid data loss, computers and other office machinery like IT servers must run continually. In addition, according to India Energy Storage Alliance (IESA) in 2019, Indian EVs market will grow at a CAGR of 36% by 2026.
For instance, according to the Global EV Outlook 2022, consumers spent USD 250 billion on electric vehicle purchases in 2021, a 65% increase over 2021. Furthermore, Global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021.
Therefore, increasing demand of battery for various application led to the growth of Global Dimethyl Carbonate market in the upcoming years.
Download Free Sample Report Increasing Demand for Polycarbonate
The increased manufacturing of polycarbonate has increased demand for dimethyl carbonate on a global scale. Acids and phenols are not produced during the manufacturing of polycarbonate. As the need for polycarbonate increases in the automotive and electronics sectors, more orders are placed and the demand for dimethyl carbonate products rises. Polycarbonate help in the environmentally friendly manufacture of thermoplastics, which help to increase the production of dimethyl carbonate regularly. The dimethyl carbonate market also strives to maintain environmental health, which is a big plus for expanding naturally in the international market.
For instance, Asahi Kasei Corp.
Additionally, the
Increasing focus on Paint & Coating
As a result, the paint and coating business, which has increased the demand for eco-friendly paints, is another important driver. Numerous market participants have entered the worldwide dimethyl carbonate market due to the growing demand from these sectors. Since dimethyl carbonate is one of the best replacements of that solvents in the paint which cause volatile organic compounds (VOC) emission and environmental effects, therefore it became a top focus for many industries. It has a lot of demand right now on the international market.
For instance, Kowa American Corporation provide dimethyl carbonate to utilize in production of Paint & Coating.
Thus, increasing demand from less VOC emission paint & coating materials the demand of dimethyl carbonate increases which anticipated the market growth in the projected period.
However, the production process of DMC is very challenging, as during the traditionally production of DMC hazardous gases such as phosgene and carbon monoxide are used which produce harmful by product like sodium chloride. The disposal of sodium chloride can harm the environment especially during the scale up of process for produce high output. Most of the product comprises highly poisonous chemicals that cause death or severe health issues in even low concentrations which restrain the growth of the market. Moreover, volatility in the price of dimethyl carbonate due to the volatility of raw material prices and currency exchange rates which can make it difficult for manufacturers to plan and budget for their production processes leading to uncertainty in the market as well as dimethyl carbonate is flammable and can be dangerous if not handled properly result in lead to safety concerns in production facilities affect productivity and increase costs further slowdown the market growth.
Recent Developments
- In July 2022, UBE Corporation
initiated design of Dimethyl Carbonate plant in the U.S. for commercial
applications. The new unit is expected to produce 100,000 metric tons per year
of dimethyl carbonate to cater to the growing consumer demand.
- To address the roughly 8,000
tonnes per year local demand for DMC, The first stage of Balaji Amines'
brand-new, greenfield chemical manufacturing will begin in 2021. The project's
first stage will comprise a 16,500 ton/year ethyl amines unit and a 9,900
ton/year dimethyl carbonate line, which is anticipated to cost more than USD20 million
(DMC), according to an announcement in July 2020.
- To increase the production of
the fundamental chemical dimethyl carbonate and its derivatives, Ube Industries
has announced in July 2019, the development of a new plant in the United
States. The facility has the capacity to produce 20,000–30,000 tonnes/year of purified
DMC in addition to 50,000 tonnes/year of DMC.
- The EV Co. will concentrate
on electric passenger cars with four wheels (4W). Mahindra & Mahindra
stated in a statement to the Bombay Stock Exchange in July 2022 that the total capital
injection for the EV Co. is anticipated to be around Rs. 8,000 crores/USD 1
billion between FY 2024 and FY 2027 for the proposed product range.
- In order to encourage the
development of modern battery manufacturing facilities and the usage of electric
vehicles, the Indian government announced plans to invest USD4.6 billion in incentives
in 2020.
Market Segmentation
Global Dimethyl Carbonate Market
Market Players
UBE Industries LTD., Shandong Shida Shenghua Chemical Group Co. Ltd., KOWA American Corporation, Qingdao Aspirit Chemical Co. Ltd., Shandong Haike Chemical Industry Group Co. Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying City Longxing Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Alfa Aesar, Hefei TNJ Chemical Industry Co. Ltd. are some of the key players operating in the Global Dimethyl Carbonate Market.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated
Year |
2023 |
|
Forecast
Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue
in USD Million, Volume in Thousand Tonnes, and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
covered |
Grade Method of
Preparation Application End Use |
|
Regional
scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United
States; Mexico; Canada; France; Germany; United Kingdom; Spain; Italy; Netherlands;
Russia; China; India; South Korea; Japan; Taiwan; Thailand; Brazil; Argentina;
South Africa; Saudi Arabia; UAE; Israel |
|
Key companies
profiled |
UBE
Industries LTD., Shandong Shida Shenghua Chemical Group Co. Ltd., KOWA
American Corporation, Qingdao Aspirit Chemical Co. Ltd., Shandong Haike
Chemical Industry Group Co. Ltd., Shandong Depu Chemical Industry Science
& Technology Co. Ltd., Dongying City Longxing Chemical Co. Ltd., Shandong
Feiyang Chemical Co. Ltd., Alfa Aesar, Hefei TNJ Chemical Industry Co. Ltd. |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
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purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
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Email (We can also provide the editable version of the report in PPT/Word
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