The global dimethyl carbonate market size is expected to reach USD 2.06 billion by 2030, according to a new study by Polaris Market Research. The report “Dimethyl Carbonate Market Share, Size, Trends, Industry Analysis Report, By Grade (Battery Grade, Industry Grade, Pharmaceutical Grade); By End-Use (Pharmaceutical, Agrochemicals, Paints & Coating, Battery, Plastics, Others); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Dimethyl carbonate is used as an organic solvent for the production of paints, coatings, and adhesives. It also forms a constituent of lubricants, polycarbonates, polyurethane, and cleaning solvents. It is increasingly being used in biodiesel production and as a fuel additive. It is utilized in lithium-ion battery electrolytes, the demand for which has increased significantly in recent years owing to regulations associated with emissions and the introduction of government initiatives to support the growth of electric and hybrid vehicles.
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It is increasingly being used for diverse applications owing to its reduced toxicity and biodegradability. They are also used for the synthesis of polycarbonate. Polycarbonate is widely used in the automotive, aerospace, construction, defense, and electronics sectors for its high strength, durability, and flexibility.
It also offers high-impact resistance and toughness. Growth in the sale of passenger vehicles, greater application in the construction sector, and government support for the development of public infrastructure support industry growth. Economic growth in emerging economies and a strengthening construction sector would contribute to industry growth during the forecast period.
Asia Pacific dominated the global market in 2021. Industrial growth in the developing countries in the region, the rise in the adoption of electric vehicles, and greater demand for consumer electronics have increased the demand for the industry in the region. The rise in environmental awareness among consumers, coupled with the implementation of strict environmental regulations, boosted the industry's growth.
Growth in population, increase in applications in automotive and construction sectors, and rise in investments in research and development would contribute to the industry growth in the coming years. The outbreak of COVID-19 negatively influenced the growth of the global market. The industry suffered a decline in demand due to the low availability of raw materials, travel restrictions, and logistical issues. Lockdown impositions across the world caused the closure of markets, delay in projects, and shutting of manufacturing plants, leading to reduced demand from the automotive and construction sectors.
Dimethyl Carbonate Market Report Highlights
Polaris Market Research has segmented the dimethyl carbonate market report based on grade, end-use, and region:
Dimethyl Carbonate, Grade Outlook (Revenue - USD Billion, 2018 - 2030)
Dimethyl Carbonate, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Dimethyl Carbonate, Regional Outlook (Revenue - USD Billion, 2018 - 2030)