Dimethyl Carbonate Market size to exceed $1.5bn by 2028

Dimethyl Carbonate Market size is set to exceed USD 1.5 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Dimethyl carbonate is increasingly used in the production of polycarbonates. The synthesis of polycarbonate from DMC & diols is proved to be an efficient heterogeneous catalyst and comes with remarkable stability. It widely serves as a raw material for the synthesis of bisphenol-A-polycarbonate in the melt polycondensation process. In addition, Carbonate Metathesis Polymerization (CMP), which is an application of the interchanging carbonate reaction, is mainly developed and applied for the formation of high-molecular-weight polycarbonates from DMC.
 

The dimethyl carbonate production process makes use of phosgene, a highly toxic chemical that causes severe health issues and death even in low concentrations. This implies that the process incorporating phosgene will involve extra costs to ensure a safer environment. During the production of dimethyl carbonate, sodium chloride is released as a by-product and its disposal causes environmental damage, especially when high production is required. Besides, the use of CO2 as a raw material in the production of dimethyl carbonate does not guarantee that the CO2 emissions are low compared to those emitted from conventional fossil resources. It is combustible and can be easily ignited by potential ignition sources that can cause harm.
 

Browse key industry insights spread across 155 pages with 89 market data tables & 12 figures & charts from the report, “Dimethyl Carbonate Market Size, By Application (Polycarbonate, Solvent, Pharmaceutical, Pesticide), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/dimethyl-carbonate-market
 

Rising demand for adhesives and cleaning agents to support the market expansion

Dimethyl carbonate market from solvent segment accounted for around 20% revenue share in 2021 and is set to register a significant CAGR through 2028. Solvent is a substance that is easily dissolved in a solute to give rise to a solution. Dimethyl carbonate is a solvent that is used to make adhesives and cleaning agents. It is a non-polar aprotic solvent with good miscibility properties with water and it biodegrades easily in the atmosphere. It also serves as a solvent in various reactions such as biocatalysts and pharmaceutically relevant synthesis. It is used in solvent-based systems such as architectural parts, coatings, traffic paints, floor coatings, steel drum linings, and concrete sealers. It also acts as a carrier solvent for binders, colorants & pigments, and replaces toluene & ethyl acetate solvents in Gravure inks, thus, bolstering the business revenue.
 

Proliferating demand for the pharmaceutical industry in North America will surge product penetration

North America dimethyl carbonate market is set to witness around 5% CAGR through 2028 owing to high consumption from the pharmaceutical industry. The growth of the construction industry post the economic slowdown will propel the regional market progression. Besides, it is exempt from restrictions placed on volatile organic compounds in the U.S., which again stimulates market expansion in North America.
 

Product innovations to enhance competition in the industry

Key dimethyl carbonate industry participants include UBE Corporation, SMC Global, Tangshan Chaoyang Chemical, Merck KgaA, and Asahi Kasei. For instance, in July 2020, Zhejiang Petrochemical Co., Ltd. announced that it has started the production of DMC, which is 200,000 tons annually. Kishida Chemical Co., Ltd. is actively involved in product production since its incorporation and has contributed to its revenue growth.