Global Dimethyl Carbonate Market to Reach US$ 2.0 Billion by 2032, Propelled by Its Multifarious Applications Across Various Industries

July 10, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Dimethyl Carbonate Market by Grade (Industry Grade, Pharmaceutical Grade, Battery Grade), Application (Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, and Others), End Use Industry (Plastics, Paints and Coating, Pharmaceutical, Electronics, Agrochemicals, and Others), and Region 2024-2032,” the global dimethyl carbonate market size reached US$ 1.1 Billion in 2023. Dimethyl carbonate (DMC) is a chemical compound with the molecular formula C3H6O3. It is a clear, colorless liquid with a low boiling point and a mild, fruity odor. Dimethyl carbonate is widely used in various industries due to its excellent solvency properties and low toxicity. It is primarily produced through the reaction of phosgene with methanol and can also be derived from other carbonates or esters. Dimethyl carbonate finds extensive application as a solvent in industries such as paints and coatings, adhesives, pharmaceuticals, and electronics. In addition to this, it is used as an intermediate in producing polycarbonates, pharmaceuticals, and agrochemicals, a fuel additive, and an electrolyte component in lithium-ion batteries.

Global Dimethyl Carbonate Market Trends:

The global dimethyl carbonate market is primarily driven by the increasing product utilization as a solvent in the thriving paints and coatings industry. Dimethyl carbonate offers excellent solvency power, low toxicity, and low volatility, making it a preferred choice for formulating environmentally friendly coatings. Concurrent with this, stringent regulations and growing consumer awareness regarding the harmful effects of traditional solvents are fueling the adoption of dimethyl carbonate-based solutions. In addition to this, the rising demand for polycarbonates, which are extensively used in industries, such as automotive, electrical and electronics, and construction, due to their high strength, transparency, and thermal resistance, is presenting remunerative growth opportunities for the market. Moreover, the bolstering growth of the pharmaceutical sector, wherein dimethyl carbonate is utilized as a reagent in pharmaceutical synthesis, particularly in the production of carbamates, methyl isocyanates, and other active pharmaceutical ingredients (APIs), is contributing to the market growth. Furthermore, the surging popularity of lithium-ion batteries in various applications, including electric vehicles (EVs) and portable electronic devices such as smartphones, wearables, speakers, tablets, and laptops, is fostering the growth of the dimethyl carbonate market. Looking forward, the market value is projected to reach US$ 2.0 Billion by 2032, expanding at a CAGR of 7.3% during 2024-2032.

Market Summary:

On the basis of the grade, the market has been divided into industry grade, pharmaceutical grade, and battery grade. Currently, industry grade dominates the market, holding the largest share.
On the basis of the application, the market has been segregated into polycarbonate synthesis, battery electrolytes, solvents, reagents, and others. Among these, polycarbonate synthesis represents the biggest market segment.
Based on the end use industry, the market is categorized into plastics, paints and coating, pharmaceutical, electronics, agrochemicals, and others. At present, plastics account for the largest market share.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Connect Chemicals GmbH, Kishida Chemical Co. Ltd., Kowa Company Ltd., Merck KGaA, Qingdao Aspirit Chemical Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry, UBE Corporation, etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Grades Covered	Industry Grade, Pharmaceutical Grade, Battery Grade
Applications Covered	Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, Others
End Use Industries Covered	Plastics, Paints and Coating, Pharmaceutical, Electronics, Agrochemicals, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Connect Chemicals GmbH, Kishida Chemical Co. Ltd., Kowa Company Ltd., Merck KGaA, Qingdao Aspirit Chemical Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry, UBE Corporation, etc.
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Global Dimethyl Carbonate Market to Reach US$ 2.0 Billion by 2032, Propelled by Its Multifarious Applications Across Various Industries

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