CHICAGO, Jan. 9, 2020 /PRNewswire/ -- 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 2024", published by MarketsandMarkets, the Dimethyl Carbonate Market is projected to grow from USD 895 million in 2019 to USD 1,207 million by 2024, at a CAGR of 6.2% from 2019 to 2024. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market.
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The polycarbonate synthesis segment estimated to account for the largest share of the dimethyl carbonate market in 2019.
By application, the polycarbonate synthesis segment is estimated to account for the largest share of the dimethyl carbonate market in 2019. 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.
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The plastics segment estimated to account for the largest share of the dimethyl carbonate market in 2019.
By end-use industry, the plastics segment accounted for the largest share of the dimethyl carbonate market in 2019. 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.
Asia Pacific estimated to account for the largest share of the global dimethyl carbonate market in 2019
The Asia Pacific region accounted for the largest share of the dimethyl carbonate market in 2019. China, India, Japan, and South Korea are major countries contributing to the increased demand for dimethyl carbonate in this region. In China, Japan, Korea, Thailand, and Taiwan, dimethyl carbonate is mainly used in the production of polycarbonates, while in India, it is primarily consumed by the pharmaceutical, paints & coatings, and agrochemical industries to manufacture different products such as medicines, paints, and pesticides.
Ube Industries Ltd. (Japan), Merck KGaA (Germany), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), Lotte Chemical (Korea), 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.
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