Dimethyl Carbonate Market to Witness Growth Owing to Demand for Eco-Friendly Coatings | Technavio

October 5, 2017

LONDON–(BUSINESS WIRE)–#MetalsandMinerals–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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