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“The dimethyl carbonate market is projected to grow at a CAGR of 6.2% from 2019 to 2024, in terms of value.”
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.
“The battery electrolyte application segment is projected to grow at the highest CAGR during the forecast period.”
Based on application, the battery electrolyte segment is projected to grow at the highest CAGR during the forecast period. With the rapid development in electric vehicles and other electronic products such as smartphones, tablets, and laptops, the demand for advanced batteries such as lithium-ion batteries has increased. To further improve the property of lithium-ion batteries, solvents consisting of organic carbonates such as propylene carbonate (PC) and ethylene carbonate (EC) who allow the dissolution of lithium salts, are widely used across industries. But their strong viscosity limits the efficiency of the lithium electrochemical cycle. In this aspect, linear alkyl carbonates such as DMC are usually introduced as co-solvents to increase the conductivity of the electrolyte because of their low viscosity as well as great solvation force toward lithium-ion, which leads to the diminution of the electrolyte resistance.
“The battery grade segment is projected to grow at the highest CAGR during the forecast period.”
Based on grade, the battery grade segment is projected to grow at the highest CAGR during the forecast period. Dimethyl carbonate with purity above 99.9% is majorly used as an electrolyte in lithium-ion batteries. Various researchers have proved that the electrochemical performance of graphite anodes cycled against lithium metal in DMC electrolytes, containing 1 M LiPF6 is strongly dependent on the solvent purity. The behavior of the graphite anodes in electrolytes containing DMC also depends mainly on the identity of the contamination present in the solvent. Hence, it is recommended that the DMC used as an electrolyte in lithium-ion batteries should be highly pure. Lithium-ion batteries are experiencing a rapid increase in demand for use in notebooks, PCs, and cell phones. The demand is also expected to grow for its use in hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs).
“The dimethyl carbonate market in Asia Pacific is projected to grow the highest CAGR during the forecast period.”
The dimethyl carbonate market in Asia Pacific is projected to grow at the highest CAGR from 2019 to 2024. The growth of this market can be attributed to the rapid economic expansion of various countries and the increasing consumption of dimethyl carbonate in major industries, such as plastics, paints & coating, pharmaceutical, and batteries in the region
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33%
- By Designation: C-level Executives – 50%, Directors – 10%, and Others – 40%
- By Region: North America – 33%, Europe – 25%, Asia Pacific – 17%, South America – 17%, Middle East & Africa- 8%
As a part of the qualitative analysis of the dimethyl carbonate market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as 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).
The report defines, segments, and projects the size of the dimethyl carbonate market based on application, end-use industry, grade, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as expansions, and joint-ventures undertaken by them in the market.
Reasons To Buy the Report:
- This report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the dimethyl carbonate market and its segments.
- The report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies.
- It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.