Global Diethyl Carbonate (DEC) Market Size By Grade, By Application, By End-User Industry, By Geographic Scope And Forecast

Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Diethyl Carbonate (DEC) Market Size By Grade, By Application, By End-User Industry, By Geographic Scope And Forecast

Diethyl Carbonate (DEC) Market Size And Forecast

Diethyl Carbonate (DEC) Market size was valued at 1506.27 USD Million in 2023 and is projected to reach 2483.52 USD Million by 2030, growing at a CAGR of 6.45% during the forecast period 2024-2031.

Global Diethyl Carbonate (DEC) Market Drivers

The market drivers for the Diethyl Carbonate (DEC) Market can be influenced by various factors. These may include

  • Increasing Need in the Automobile Sector Lithium-ion batteries, which are extensively utilised in electric vehicles (EVs), are increasingly using diethyl carbonate as an electrolyte solvent. The DEC market is expanding rapidly due to the growing demand for EVs brought on by government laws and environmental concerns.
  •  Growth of the Electronics Sector Lithium-ion batteries are used by the electronics industry in a variety of products, such as tablets, laptops, and smartphones. The demand for DEC is being driven by the widespread use of these devices and the ongoing creation of new electronic items.
  •  Growing Use of Sustainable Energy SourcesLithium-ion battery-based energy storage systems are frequently used in the transition to renewable energy sources like solar and wind power. Thus, there is a growing need for DEC because to the expanding investment in renewable energy projects.
  •  Industrial Uses Paints, coatings, and adhesives are just a few of the industrial applications using DEC as a solvent. The need for DEC in various applications is being driven by the expansion of the building, automotive, and other industrial sectors.
  •  Growth of the Chemical Industry In the synthesis of agrochemicals, medicines, and other organic molecules, DEC is a useful intermediate. The need for DEC as a raw material is being bolstered by the growing chemical industry, especially in emerging economies.
  •  Benefits to the Environment and Support from Regulations The use of DEC instead of conventional solvents is being encouraged by regulatory support for low-toxicity and ecologically friendly solvents. It is a desirable alternative due to its biodegradability and less environmental impact when compared to other solvents.
  •  Technological Progress Developments in chemical synthesis and battery technology are expanding the uses and effectiveness of DEC. The market is expanding due to advancements in end-use applications and enhanced production techniques.
  •  Growing Need for High-Efficiency CoatingsHigh-performance coatings are becoming more and more in demand across a range of industries, including aerospace and automotive. The formulation of these coatings uses DEC as a solvent, which promotes market expansion.
  •  Developing Markets Growing urbanisation and industrialization in developing nations, especially in Asia-Pacific, are offering the DEC industry a lot of potential. Key drivers include the expansion of the manufacturing sector and the rise in the manufacture of consumer electronics.
  •  Strategic Partnerships and Financial Commitments Production capacity are being expanded and innovation is being fostered by major participants in the market through strategic partnerships, collaborations, and investments. The objective of these endeavours is to address the increasing worldwide need and investigate novel uses for DEC.

Global Diethyl Carbonate (DEC) Market Restraints

Several factors can act as restraints or challenges for the Diethyl Carbonate (DEC) Market. These may include

  •  Price volatility of raw materials Ethanol, phosgene, or ethylene carbonate are needed as raw materials to produce diethyl carbonate. Manufacturers’ profitability may be impacted by changes in the price of these raw materials as a result of supply chain disruptions, geopolitical unrest, or changes in market dynamics.
  •  Environmental and Regulatory Concerns Production and use of chemical compounds might present serious obstacles due to strict environmental restrictions. The manufacturing of DEC may include the use of hazardous chemicals, and operating expenses may rise as a result of following environmental norms and laws. For smaller producers, adhering to these rules can be very difficult.
  •  Health and Safety Concerns Because DEC is a flammable liquid, extreme caution must be used when handling and storing it. DEC’s use in some applications may be restricted because to possible health hazards, and strict safety regulations may result in higher expenses for both manufacturers and end users.
  • Competition from Substitutes Other solvents and chemical compounds that have similar applications provide a threat to diethyl carbonate. In certain situations, alternatives like ethyl acetate and dimethyl carbonate (DMC) may be preferable because of factors like performance, cost, or environmental impact.
  •  Economic Downturns The performance of important end-use industries like pharmaceuticals, paints and coatings, and automotive is directly linked to the demand for DEC. Recessions or slowing down the economy can result in less industrial activity, which lowers demand for DEC.
  •  Technological Barriers It can be difficult to produce high-purity DEC, which is necessary for several applications. In order to increase output and reduce costs, production technology innovations and developments are required; insufficient innovation in this area may limit market expansion.
  •  Disruptions to the Global Chemical Supply Chain Natural disasters, geopolitical unrest, trade restrictions, and pandemics can all cause disruptions to the global chemical supply chain, which includes DEC. These interruptions may result in shortages and higher prices, which would hurt the market.
  •  Market Fragmentation With a large number of small and medium-sized businesses, the DEC market is fragmented. This fragmentation may result in less pricing power, increased competition, and difficulties realising economies of scale, all of which may have an effect on profitability and future growth prospects.
  • Limited Awareness and Adoption DEC may not be as widely known or used in industrial applications as it could be in some areas. This may be because there are more well-known alternatives available or because people are unaware of its advantages. In order to increase DEC’s market share, efforts must be made to inform potential customers about its benefits.
  •  Expenses of Investment A substantial amount of capital is needed to build new manufacturing facilities or renovate existing ones in order to produce DEC. These large upfront expenditures can be a significant deterrent for businesses looking to enter or grow in the market, particularly those with little funding.

Global Diethyl Carbonate (DEC) Market Segmentation Analysis

The Global Diethyl Carbonate (DEC) Market is Segmented on the Basis of Grade, Application, End-User Industry, And Geography.

Diethyl Carbonate (DEC) Market, By Grade

  • Industry Grade
  • Pharmaceutical Grade
  • Battery Grade

Based on Grade, the market is segmented into Industry Grade, Pharmaceutical Grade, and Battery Grade. Industrial grade dominated because it is frequently utilized in the creation of polycarbonates. Additionally, it serves as a solvent in paints and coatings and as a reagent in insecticides. Due to the rising demand for polycarbonates from end-use industries including automotive, electrical, and electronics, the demand for industrial-grade dimethyl carbonate is anticipated to expand over the course of the projected period.

Diethyl Carbonate (DEC) Market, By Application

  • Polycarbonate Synthesis
  • Battery Electrolyte
  • Solvents
  • Reagents
  • Others

Based on Application, the market is segmented into Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, and Others. The category producing polycarbonate had the biggest market share as Dimethyl carbonate is used as an intermediate in the synthesis of polycarbonates. In end-use sectors including electrical, and electronics, automotive, polycarbonate is a type of engineering plastic that has great physical properties like heat resistance, impact resistance, structural stability, and optical clarity.

Diethyl Carbonate (DEC) Market, By End-User Industry

  • Plastics
  • Paints & Coatings
  • Pharmaceutical
  • Battery
  • Agrochemicals
  • Others

Based on By End-User Industry, the market is segmented into Plastics, Paints & Coatings, Pharmaceutical, Battery, Agrochemicals and Others. Over the projection period, the plastic category is anticipated to be the dominating one. The primary cause of this is the expanding usage of polycarbonate plastics in newly developed electric vehicles in the Asia Pacific. Additionally, more than 60% of the vehicle’s weight is made up of powerful plastic innovations.

Diethyl Carbonate (DEC) Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

On the basis of Geography, the Global Diethyl Carbonate (DEC) Market is classified into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The largest market share for dimethyl carbonate was held by the Asia Pacific region. Dimethyl carbonate is increasingly being used in the production of polycarbonate in nations including China, Japan, Korea, Thailand, Taiwan, Singapore, and Malaysia, which is boosting demand in this region.

The market for dimethyl carbonate is anticipated to be driven by the rising demand for lithium-ion batteries in the Asia Pacific region from the electronics and automotive sectors. Government initiatives to improve the region’s public infrastructure are helping the North American market expand. Additionally, the growth of the regional market has been pushed by the recovery of the automobile and development sectors as well as expanding ventures for structures and frameworks. The United States benefits greatly from the region’s significant usage of DMC in the pharmaceutical industry.

Key Players

The major players in the Diethyl Carbonate (DEC) Market are

  • Shandong Shida Shenghua Chemical Co. Ltd.
  • KOWA American Corporation
  • UBE Industries
  • Kishida Chemical Co. Limited
  • Wego Chemical Group
  • Alfa Aesar
  • Silver Fern Chemicals
  • Hefei TNJ Chemical Industry Co. Limited
  • Kindun Chemical Co. Limited
  • Tokyo Chemical Industry Co. Limited
  • Tangshan Chaoyang Chemical Co. Ltd.
  • Merck KGaA amongst others.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Shandong Shida Shenghua Chemical Co. Ltd., KOWA American Corporation, UBE Industries, Kishida Chemical Co. Limited, Wego Chemical Group,Alfa Aesar, Silver Fern Chemicals,Hefei TNJ Chemical Industry Co. Limited.

SEGMENTS COVERED

By Grade, By Application, By End-User Industry, By Geography.

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