According to the new market research report “Dimethyl Carbonate Market by Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents), End-Use Industry (Plastics, Paints & Coatings, Pharmaceuticals), Grade (Industry, Pharmaceutical, Battery), Region – Global Forecast to 2025″, The dimethyl carbonate market is projected to grow USD 797 million in 2020 to USD 1,078 million by 2025, at a CAGR of 6.2% from 2020 to 2025. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market.
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By application, the polycarbonate synthesis segment is estimated to account for the largest share of the dimethyl carbonate market in 2020. Dimethyl carbonate is used to manufacture polycarbonate by the well-established and rapidly expanding non-phosgene melt process. Polycarbonate is used across industries such as automotive and electrical & electronics due to its superior physical properties such as heat resistance, impact resistance, structural stability, and optical transparency. The growing demand from polycarbonate from the automotive and electrical & electronics industries is driving the market for dimethyl carbonate across the globe.
By end-use industry, the plastics segment accounted for the largest share of the dimethyl carbonate market in 2020. Dimethyl carbonate is used as an intermediate in polycarbonate synthesis. PC has become an important environment-friendly and recyclable form of commercial polymer with numerous uses in different industries such as automotive, electrical & electronics. The growing demand for plastic products specially the polycarbonate is expected the drive the demand of dimethyl carbonate across the globe.
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The dimethyl carbonate market is projected to grow from USD 797 million in 2020 to USD 1,078 million by 2025, at a CAGR of 6.2% from 2020 to 2025. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market.
Ube Industries Ltd. (Japan), Merck KGaA (Germany), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Guangzhou Tinci Materials Technology Co., Ltd. (China), Haike Chemical Group (China), Arrow Chemical Group Corp. (China), and Panax Etec (Korea) are some of the leading players operating in the dimethyl carbonate market. These players have adopted the strategies of expansions and joint ventures to enhance their position in the market.
In line with the rising demand for dimethyl carbonate, in July 2019, Ube Industries announced that it will increase its production of basic chemical dimethyl carbonate by opening a new plant in the US. The production facility would approximately produce 50,000 tons of DMC as well as 20,000-30,000 tons of purified DMC annually.
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Ube Industries, in March 2016, announced a joint venture with CNSG Anhui Hong Sifang Co., Ltd. (China) to license its technology to manufacture dimethyl carbonate. CNSG Anhui Hong Sifang Co., Ltd. will construct a manufacturing facility in Hefei, China, to produce DMC that will have an annual production capacity of about 100,000 tons. Additionally, it will establish a joint-venture to manufacture and market high purity DMC with an annual production capacity of 10,000 tons of DMC. The joint venture will receive a share of DMC from CNSG Anhui Hong Sifang and produce high-purity DMC. The joint venture will help Ube Industries market its products to manufacturers of electrolytes for lithium-ion batteries (LIBs) in the Chinese market. Some products will be supplied to AET Electrolyte Technologies (Zhangjiagang) Co., Ltd., a subsidiary of the Ube Industries Group with electrolyte manufacturing operations in Zhangjiagang, Jiangsu Province, China.
Shandong Shida Shenghua Chemical Group Co. Ltd., in December 2017, announced that it signed a cooperation agreement with a new energy research institute on hydrogen fuel cells and lithium-ion battery business. This development is likely to boost their effort to manufacture high purity solvent.
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