The global dimethyl carbonate market is expected to be worth USD 512.5 Million in 2022, representing a 5.6% year-on-year increase. DMC sales are predicted to rise at a 5.8% CAGR, reaching USD 954.1 Million by 2032.
The massive rise in the manufacturing of lithium-ion batteries is predicted to increase dimethyl carbonate utilization during the evaluation period. Market growth of Dimethyl Carbonate is primarily driven by the following key factors:
| Attribute | Details |
|---|---|
| Dimethyl Carbonate Market Bas Year Size (2021) | USD 512.5 Million |
| Estimated Market Value (2022) | USD 541.3 Million |
| Projected Market Valuation (2032) | USD 954.1 Million |
| Value-based CAGR (2022 to 2032) | 5.8% |
| Collective Value Share: Top 3 Countries In Asia (2022E) | 50.5% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Carbon is a plentiful element that is required in the manufacture of fuels and polymers. Because of carbon's non-toxic characteristics, dimethyl carbonate traders have been compelled to convert carbon dioxide (CO2) into chemical precursors such as dimethyl carbonate (DMC).
This trend is anticipated to continue, as conventional ways such as phosgenation have drawbacks such as the use of deadly poisonous and corrosive phosgene gas and the creation of large amounts of inorganic salts.
As a consequence, dimethyl carbonate market participants are intensifying their R&D efforts in order to boost e?ectiveness in green chemistry. Automakers are implementing procedures that involve the decisive synthesis of dimethyl carbonate from CO2 and methanol to enhance the productivity of green chemistry. Because methanol serves as a less expensive raw material, green synthesis of DMC is gaining popularity as a cost-effective procedure.
The Asia-Pacific region accounted for a considerable proportion of the global dimethyl carbonate market in 2021. The clamor for dimethyl carbonate in the Asia Pacific region is anticipated to rise throughout the forecast period due to a significant increase in the utilization of polycarbonates.
Because of the rise in consumption of dimethyl carbonate in various industrial applications such as cleaning agents, paints and coatings, pesticide residues, sealants, and lithium-ion batteries throughout the region, the dimethyl carbonate market in the Asia Pacific is anticipated to expand at an enticing rate over the forecast period.
The region's dimethyl carbonate market is led by India, China, South Korea, and Japan. The China dimethyl carbonate market is projected to increase by 6.4% year on year in 2022. Total dimethyl carbonate revenues in East Asia are likely to account for approximately 42% of global DMC volume.
In China, Thailand, Japan, and Taiwan, dimethyl carbonate is predominantly utilized in the manufacturing of polycarbonates, whereas in India, it is largely employed in the pharmaceutical, paints & coatings, and agrochemical businesses to produce multiple products such as medicines, paints, and pesticides.
To increase their market existence, key players in the global dimethyl carbonate market are establishing manufacturing units. Further participants are establishing industrial facilities in China, India, and ASEAN countries in order to cut overall production costs and improve operating margins.
Due to a rise in consumption of the electrolyte in the production of lithium-ion batteries as especially in comparison to other industrial applications, prominent brands are also concentrating on manufacturing battery-grade methyl carbonate rather than industrial-grade.
Growing production of polycarbonate-based materials is also expected to benefit sales of DMC in the forthcoming years. Higher plastic and battery production in China and the USA will fuel sales in the market. The global consumption of dimethyl carbonate is estimated to represent around 4-5% of the overall methylating agent market.
Demand for methyl carbonate has witnessed year-over-year growth of 5.1% and 5.5% between 2017 and 2021. Significant production volume of polycarbonate had bolstered the consumption of dimethyl carbonate in the past, as the compound is used as an intermediate for commercial manufacturing of polycarbonate.
However, sales of dimethyl carbonate are anticipated to growt at a 5.8% CAGR over the period. Growth can be attributed to growing demand for DMC as a battery electrolyte in the production of lithium-ion batteries. High production volume of lithium-ion batteries is expected to fuel sales of dimethyl carbonate.
Further, increasing production of paints and coatings is expected to propel demand as the compound is used as a solvent for the production of paints and coatings for traffic paints, architectural components, and floor paints.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Polycarbonates find a wide range of applications including safety helmets, roofing, and glazing, bulletproof glass, compact disc, electronic items, data storage, and 3D printing. This is expected to create significant demand for polycarbonate, owing to growth in the building and construction and electronics sectors.
Dimethyl carbonate is used as an intermediate for the production of polycarbonate. Increasing demand for polycarbonate-based materials is estimated to bolster the consumption of dimethyl carbonate over the forecast period.
Further, polycarbonate sheets are used in the automotive industry, farming applications, hardware gadgets, electronic items, and others. Growing demand for polycarbonate sheets is also expected to propel the growth in the dimethyl carbonate market.
The automotive industry is witnessing high demand for electric vehicle across various countries. Lithium-ion batteries are used as the power source in electric vehicles. Demand for electric vehicles is expected to increase significantly in the forthcoming years, which, in turn, will drive sales of dimethyl carbonate.
Dimethyl carbonate is significantly used as an electrolyte solvent in lithium-ion batteries. This organic compound is one of the most promising electrolyte solvents owing to its low viscosity and high solvation properties.
Growing production of electric vehicles is anticipated to create opportunities for growth for dimethyl carbonate manufacturers over the assessment period owing to an uptick in the usage of lithium-ion batteries in these vehicles.
Increasing Demand for Lithion-ion Batteries Will Boost Sales f Dimethyl Carbonate
The USA is the second-largest manufacturer of plastics and polycarbonate-based products. Owing to significant production volume, the country is expected to remain a prominent consumer of dimethyl carbonate. The country is estimated to account for about 89% of the overall North America dimethyl carbonate market share over the forecast period.
Further, increasing production of electric vehicles in the U.S. has also led to the production of lithium-ion batteries. This is estimated to propel sales of dimethyl carbonate in the forthcoming years.
Expansion of the Paints and Coating Sector in China Will Spur Demand for Dimethyl Carbonate
In 2022, the China dimethyl carbonate market is expected to grow by 6.4% year-on-year. Across East Asia, total sales of dimethyl carbonate are expected to account for about 42% of the global DMC volume.
China is expected to account for about four-fifths of the global lithium-ion battery production and is a top manufacturer of polycarbonate-based products. Further significant growth in battery production, paints and coatings, and polycarbonate materials manufacturing are expected to boost the consumption of dimethyl carbonate in the country.
Rising Adoption of Battery-grade Dimethyl Carbonate in the Automotive Sector Will Fuel Growth
Increaisng production of electric vehicles is propelling the demand for lithium-ion batteries. Battery-grade dimethyl carbonate is used as an electrolyte solvent for lithium batteries.
Despite the high dimethyl carbonate manufacturing capability, only few companies can produce high-purity battery-grade DMC due to substantial separation and purification barriers. Considering the rapid development of the energy sector and storage, demand for battery-grade dimethyl carbonate will increase.
Battery grade of methyl carbonate is estimated to witness a growth rate of 6.7% over the forecast period. Further, the supply of industrial-grade DMC is expected to be more than its demand, whereas, battery-grade DMC is expected to face a supply restraint in owing to higher demand and relatively less production.
Sales of Dimethyl Carbonate for Polycarbonate Synthesis To Reamin High
Sales in the polycarbonate synthesis segment are estimated to grow by 5.5% year-over-year in 2022. The demand in the battery electrolyte segment is expected to increase 6.2% between 2021 and 2022, giving the combined dimethyl carbonate market year-over-year growth of 5.6% in 2021.
DMC is expected to be consumed for the production of polycarbonate-based materials, however, the battery electrolyte segment is anticipated to witness a significant gain in the market share.
Key players in the global dimethyl carbonate market are setting up manufacturing units to boost their market presence. Further players are setting up manufacturing facilities in China, India, and ASEAN countries to minimize the overall production expenditure and propel operating margin.
Leading players are also focusing on manufacturing battery-grade methyl carbonate instead industrial-grade owing to an increase in the demand for the electrolyte in the production of lithium-ion batteries as compared to other industrial applications.
For instance:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 541.3 Million |
| Projected Market Valuation (2032) | USD 954.1 Million |
| Value-based CAGR (2022 to 2032) | 5.8% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Kilo Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Grade, Application, End-Use, and Region |
| Key Companies Profiled | Ube Industries Ltd.; Kowa Company Ltd; Kishida Chemical Co. Ltd.; Shandong Shida Shenghua Chemical Group Co. Ltd.; Guangzhou Tinci Materials Technology Co. Ltd.; Haike Chemical Group; Zhejiang Petrochemical Co., Ltd.; Hefei TNJ Chemical Industry Co., Ltd.; Tangshan Chaoyang Chemical Co., Ltd.; Qingdao Aspirit Chemical Co., Ltd.; Kindun Chemical Co., Limited; Henan GP Chemicals Co. Ltd.; Aceto Corporation; Connect Chemicals; Silver Fern Chemicals; Balaji Amines; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market of dimethyl carbonate is estimated to reach a valuation of USD 541.3 Million in 2022.
Methylating agent demand is anticipated to witness a growth rate of 5.8% over the forecast period of 2022 and 2032 in terms of value.
Polycarbonate synthesis and battery electrolyte are the key applications of DMC. These segments are expected to account for 70% of the global DMC consumption collectively.
Shandong Shida Shenghua Chemical Group Co. Ltd., Ube Industries Ltd., Guangzhou Tinci Materials Technology Co. Ltd., and Kowa Company Ltd are the key manufacturers in the dimethyl carbonate market.
Key players in the global dimethyl carbonate market are expected to account for about 40 - 45% of the overall market share.
The top countries driving the global DMC demand are China, the USA, Japan, and India.
| Estimated Size, 2024 | USD 8,553.5 million |
|---|---|
| Projected Size, 2034 | USD 16,052.9 million |
| Value-based CAGR (2024 to 2034) | 6.5% |
| Estimated Size, 2024 | USD 20,696.0 million |
|---|---|
| Projected Size, 2034 | USD 30,635.1 million |
| Value-based CAGR (2024 to 2034) | 4.0% |
| Market Value for 2024 | USD 60.07 billion |
|---|---|
| Market Value for 2034 | USD 106.56 billion |
| Market Forecast CAGR for 2024 to 2034 | 5.90% |
| Expected Market Value in 2023 | USD 500 million |
|---|---|
| Projected Market Value in 2033 | USD 850 million |
| CAGR (2023 to 2033) | 5.5% |
Explore Hydrocarbons, Petrochemicals, and Organic Chemicals Insights
View Reports
Dimethyl Carbonate Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
