Polycarbonate is in High Demand due to its Increasing Use in the Automotive and Electronics Industries.
Dimethyl carbonate solvent's main benefit is its low toxicity. Additionally, it is biodegradable. Dimethyl carbonate (DMC) finds use in gasoline products (gasoline additives) as a fuel oxygenate and can be blended with alcohols or MTBE. It is used in the manufacturing of lithium-ion batteries, production of polycarbonates, lubricants, polyurethanes, cleaning and degreasing solvents, construction materials such as paints, coatings and adhesives, fuel additives, gravure inks, aerosols, resin manufacturing, and in biodiesel production. Considered a green reagent, it is used as a methylating and carbonylating reagent in organic synthesis. Is eco-friendly, cost-effective, and does not sacrifice either safety, quality, or performance of the products.
The rising demand for polycarbonate in electrical and electronics, automotive, building and construction, consumer goods, and medicine is expected to drive the dimethyl carbonate market. The environment-friendly synthesis of dimethyl carbonate from carbon dioxide is projected to drive DMC market growth. Dimethyl carbonate is more widely used in various applications since it is less hazardous in its natural state and has a different molecular structure. As a methylating agent, it is in high demand for the manufacturing of anti-infective, analgesic, and antipyretic medicines.
Polycarbonate (PC) is one of the most widely used engineering thermoplastics in electrical & electronics, automotive, and medical industries due to properties such as transparency, strength, thermal stability, chemical & heat resistance, and dimensional stability. Dimethyl carbonate is utilized as an electrolyte in lithium-ion batteries (LIB), which are in high demand for use in laptops, computers, and cell phones. In recent years, the electronics business has expanded at a tremendous rate. As the use of electronic devices grows, so does the need for printed circuit boards (PCBs) and other electronic components. Today, there are 5.32 billion unique mobile phone users worldwide. The overall number of individual mobile users worldwide increased by 91 million compared to the previous year. With the continual increase in smartphones, the demand for electronic manufacturing will grow, and so will the DMC market.
The growing number of electric vehicles is also propelling the electronic industry. Electric vehicles consist of various electronic systems such as GPS, navigation, stereos, Battery management System, and many others. In 2021, global EV sales reached 6.75 million units, a 108 percent increase over 2020. The rapid increase in electric vehicles will increase the demand for electronic products, thus driving the growth of DMC market.
Battery Electrolyte will Dominate DMC Market due to Growing Use of Electronics
Electric car production is increasing, driving demand for lithium-ion batteries. As an electrolyte solvent for lithium batteries, dimethyl carbonate is employed. Despite the considerable dimethyl carbonate manufacturing capacity, only a few businesses can create high-purity battery-grade DMC due to significant separation and purification obstacles. Demand for battery-grade dimethyl carbonate will rise due to the energy sector and storage development. Factors such as rising consumer electronics adoption, increased awareness of renewable energy storage, and rising demand for lithium-ion batteries in the renewable energy industry are driving the segment growth rate. The increasing trends in high-end consumer electronics such as digital cameras, cell phones, laptop computers, gaming consoles, and flashlights will likely cushion the DMC market development.
Asia Pacific Acquired Largest Share due to Growing Agricultural Activity
Asia Pacific is expected to be one of the leading forces in the worldwide DMC market because of the region's significant demand for polycarbonate in the automotive and electronics industries. Increased per capita income is another crucial aspect driving the growth of the dimethyl carbonate market in the region. With the increase in demand for dimethyl carbonate in various end-use applications such as cleaning agents, paints, coatings, pesticides, adhesives, and lithium-ion batteries in the region, the dimethyl carbonate market in the Asia Pacific is expected to grow at a promising rate during the forecast period.
Over half of the Asia Pacific dimethyl carbonate market is accounted for by China. With technological constraints, China predominantly produces industrial-grade dimethyl carbonate. The nation's quickest rate of population growth, demand for food production, and economic expansion raise agrochemicals demand, propelling the DMC sector forward. China's chemical pesticide manufacturing is expected to reach 2.15 million tonnes annually by 2020. Pesticide imports to China surpassed 89 thousand tonnes in 2019, with a total import value of more than 897 million US dollars. As a result of the increasing usage of agrochemicals in the country, DMC market in the region will expand.
North America is expected to grow significantly during the projected period because of the widespread usage of environmentally friendly chemicals as an intermediate. The United States is the world's second-largest producer of plastics and polycarbonate-based products. With its large production volume, the country is anticipated to remain a significant user of dimethyl carbonate. The increased manufacture of electric vehicles in the United States has resulted in the creation of lithium-ion batteries. This is expected to boost dimethyl carbonate sales in the future years. The growth in the electronic industry, especially the cell phones and the pharmaceuticals sector in the nation, will propel the growth of DMC. In 2020, the United States had 280.54 million smartphone users and was rated fourth in terms of the smartphone to population penetration, with 79.10 percent. Therefore, the factors above will propel the growth of North America in the DMC market.
DMC Market: Competitive Landscape
Participants in global DMC market are introducing new products and forming collaborations, alliances, and partnership agreements. In June 2021, Huntsman Corporation's Performance Products division announced intentions to significantly increase its current capacity for ULTRAPURE Ethylene Carbonate at its Conroe, Texas facility by the middle of 2023. In recent years, Huntsman has seen a considerable increase in ULTRAPURE Ethylene Carbonate, which may be related to the evolution of EVs and the localisation of lithium-ion battery manufacture. In July 2020, Balaji Amines Ltd. launched a greenfield initiative to set up a manufacturing unit for dimethyl carbonate and ethylene carbonate, with DMC output capacity remaining around 10,000 tonnes.
A few of the players in DMC Market include Ube Industries Ltd. (Japan), Merck KGaA (Germany), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Kowa Company Ltd. (Japan), Arrow Chemical Group Corp. (China), Kishida Chemical Co. Ltd. (Japan), Haike Chemical Group (China), Guangzhou Tinci Materials Technology Co., Ltd. (China), and Panax Etec (Korea).
Global Dimethyl Carbonate (DMC) Market is Segmented as Below:
By End-Use Industry
Key Elements Included In The Study: Global Dimethyl Carbonate (DMC) Market
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