LONDON--(BUSINESS WIRE)--The global dimethyl carbonate market is expected to grow at a CAGR of more than 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global dimethyl carbonate market for 2017-2021. The market is further categorized into four major application segments, including polycarbonates, solvents, pharmaceuticals, and pesticides. The polycarbonates segment accounted for 52% of the market share in 2016.
Technavio’s research analysts segment the global dimethyl carbonate market into the following regions:
- APAC
- Europe
- Americas
- MEA
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DMC market in APAC
APAC is a major producer of DMC. China and Japan are the major contributors to the growth in the DMC market. China is the top producer and consumer of DMC in the world because of the presence of key vendors. Also, it exports large quantities of DMC to other countries.
According to Mohd Shakeel Iqbal, a lead analyst at Technavio for metals and minerals research, “The regional growth in APAC is mainly driven by the high disposable income of consumers and presence of end-user industries which comprise mainly of polycarbonate manufacturers. The automotive and electric and electronics segments are flourishing owing to the high disposable income in the region. The growth in these segments is responsible for the high demand for DMC in the region.”
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DMC market in Europe
Europe is the second largest producer of DMC. In Europe, DMC, ecologically gentle solvents are used in coatings, adhesives, and cleaners. Also, DMC is used as a raw material for organic synthesis; it used in reactions such as methylation, carbonylation, and carbomethoxylation in the various chemical manufacturing units.
The demand for DMC in Europe is expected to continue to originate from Germany and France during the forecast period. This can be attributed to the fact that industries are readily opting for DMC in the place of toxic chemicals, such as chloromethane, and methyl chloroformate, owing to its non-toxic and cost-effective properties. Also, the demand for DMC from the adhesive industries in Europe is quite high.
DMC market in Americas
In the Americas, North America is the leading consumer and producer of DMC. In North America, DMC is widely used in the manufacture of polycarbonate, which is used in various applications such as automotive, consumer goods, and electric and electronics. With increasing growth of automotive and electronics segments, the demand of DMC is also growing in this region.
Also, the adoption of DMC as gasoline additives and li-on batteries in this region is also growing. In the US, owing to the recent developments in R&D, DMC is opted over ethanol and MTBE by many industries because of its cost-effectiveness, non-toxicity, and eco-friendliness. Therefore, the use of DMC as gasoline blending component in regions such as North America and Latin America is expected to drive the market of DMC during the forecast period.
DMC market in MEA
The demand for DMC in MEA is mainly driven by the paints and coatings industries. DMC is primarily used as a methylating agent in the production of industrial coatings such as paints, resins, and lacquers. Paints and coatings are extensively used in residential complexes such as apartments, bungalows, and houses. The use of DMC also includes industrial coatings and specialty coatings.
“The paints and coatings industries based on solvents are opting for low-impact green chemical alternatives like DMC as the consumers are very concerned about the environmental impact of products. Also, end-users such as automotive, aerospace, and railway companies, which also need eco-friendly coatings are adopting new techniques for the implementation of DMC in various applications,” says Shakeel.
The top vendors in the global dimethyl carbonate market as highlighted in this market research analysis are:
- Akzo Nobel
- Merck
- UBE INDUSTRIES
- HaiKe Chemical Group
- TONGLING JINTAI CHEMICAL INDUSTRIAL
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