Global Dimethyl Carbonate market research 2024, Forecast To 2033
4 Mar, 2024
The dimethyl carbonate market size has grown strongly in recent years. It will grow from $1.08 billion in 2023 to$1.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demand for sustainable solvents, focus on renewable chemicals, biomedical research applications, specialty chemicals demand, shift towards green chemistry. The dimethyl carbonate market size is expected to see strong growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to demand for battery electrolytes, automotive sector integration, advancements in biomedical applications, energy storage solutions demand. Major trends in the forecast period include regional market expansion, growing environmental awareness, shift towards green chemistry, stringent environmental regulations, substitute for harmful solvents.
Global Dimethyl Carbonate Market Key Driver
The increased demand for lithium-ion batteries is expected to propel the growth of the dimethyl carbonate market. The lithium-ion (Li-ion) battery is a modern technology that relies on lithium ions in its electrochemistry. Dimethyl carbonate is used as an electrolyte in lithium batteries to increase the octane number instead of MTBE (Methyl tart-butyl ether). For instance, in July 2021, according to an article published by the United Nations Department of Economic and Social Affairs, the Li-ion battery demand increased from 285 GWh in 2019 to 400 GWh in 2022. It is expected to reach 2,000 GWh in 2030, which is about 8% of the global energy supply. Therefore, increased demand for lithium-ion batteries is driving the growth of dimethyl carbonate. The dimethyl carbonate market witnessed significant growth in 2023, reaching a value of $XX billion, and this upward trend is expected to persist through 2024 and onwards.
Get A Free Sample Of The Global Dimethyl Carbonate Market ReportGlobal Dimethyl Carbonate Market Segments
The global dimethyl carbonate market covered in this report is segmented –
1) By Grade: Industry Grade (>99.0 weight %) , Pharmaceutical Grade (>99.5 weight %) , Battery Grade (>99.9 weight %)
2) By Application: Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, Other Applications (Fuel Additives, Electrolyte for Supercapacitors, Electrolyte for Dye-synthesized Solar Cells)
3) By End-Use Industry: Plastics, Paints and Coating, Pharmaceutical, Battery, Agrochemicals, Other End-Use Industries (Adhesives & Sealants, Ink, Food & Beverages, and Energy)
By Geography: The regions covered in the dimethyl carbonate market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the dimethyl carbonate market in 2023. The regions covered in the dimethyl carbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Dimethyl Carbonate Industry Players
Shandong Haike Chemical Industry Group Co. Ltd., Kowa American Corp., Shandong Wells Chemicals Co. Ltd., Qingdao Aspirit Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Haike Chemical Group, Kindun Chemical Co.Limited, Hefei TNJ Chemical Industry Co.Ltd., Arrow Chemical Group Corp., Dongying City Longxing Chemical Co. Ltd., Hebei New Chaoyang Chemical Stock Co.Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying Hi-tech Spring Chemical Industry Co. Ltd, Aarsha Chemicals Private Limited, Tongling Jintai Chemical Industrial, UBE Industries, Tangshan Chaoyang Chemical Co. Ltd., Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Linyi Evergreen Chemical Co. Ltd., Akzo Nobel N.V., Alfa Aesar, Taizhou Lingyu Chemical Co. Ltd., Sigma-Aldrich Co. LLC, Dongying Jintan Chemical Co. Ltd., Luxi Chemical Group Co.Ltd., Dongying Xinyuan Chemical Co. Ltd., Dongying City Shuangma Chemical Co. Ltd., Dongying Dafeng Chemical Co. Ltd.
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Dimethyl Carbonate Market Overview
Dimethyl carbonate refers to a form of carbonic acid in which both hydrogen atoms are replaced with methyl groups. This substance stands as an appealing, environmentally friendly substitute for methyl halides (dimethyl sulfate) and phosgene for methylation and carboxylation processes.
Dimethyl Carbonate Global Market Report 2023 provides data on the global dimethyl carbonate market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The dimethyl carbonate market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.