The dimethyl carbonate market is projected to grow from USD 847 million in 2021 to USD 1,148 million by 2026, at a CAGR of 6.3% from 2021 to 2026. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market.
Ube Industries Ltd. (Japan), Merck KGaA (Germany), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), 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) are some of the leading players operating in the dimethyl carbonate market. These players have adopted the strategies of expansions and joint ventures to enhance their position in the market.
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In July 2021, Merck KGAA plans to invest USD 310 million to build a new Translational Science Center in Darmstadt (Germany). The new R&D center will offer room for more than 500 scientists, who will conduct research in a wide variety of fields in the company’s healthcare business line.
In line with the rising demand for dimethyl carbonate, in July 2019, Ube Industries announced that it will increase its production of basic chemical dimethyl carbonate by opening a new plant in the US. The production facility would approximately produce 50,000 tons of DMC as well as 20,000-30,000 tons of purified DMC annually.
Ube Industries Ltd. (Japan) is one of the major players in the dimethyl carbonate market. It consists of 140 companies that cover a diverse range of business activities. The company has its manufacturing plants in Ube city, Chiba, Sakai, Isa, Fukuoka, Yamaguchi, and Kanda in Japan. It uses dimethyl carbonate as a solvent in applications such as coatings, adhesives, and resins. It is used as an electrolyte in lithium-ion batteries and as a raw material for organic synthesis reactions. Ube Industries is the sole manufacturer of dimethyl carbonate in Japan. The company, in 2015, entered into a joint venture with CNSG Anhui Hong Sifang Co., Ltd. of China, which will license its technology for manufacturing dimethyl carbonate. CNSG Anhui Hong Sifang Co., Ltd. will construct a manufacturing facility in Hefei, China, to produce dimethyl carbonate that will have an annual production capacity of about 100,000 tons.
Shandong Shida Shenghua Chemical Group Co., Ltd. (China) is the third-largest player operating in the dimethyl carbonate market. It is a China-based company engaged in the manufacture and sales of basic organic chemical products. At present, the company has 13 sets of production equipment that can produce more than 20 kinds of products. Some of the main products offered by the company are dimethyl carbonate, propylene carbonate, ethylene carbonate, ethyl methyl carbonate, lithium hexafluorophosphate, and special additives for electrolytes and methyl tert-butyl ether. The company is a high-quality solvent raw material supplier for many lithium-ion battery electrolyte manufacturers. It claims to produce about 100,000 tons of dimethyl carbonate annually, which is sold to Europe, the Americas, Japan, Korea, and Southeast Asia
The vendor landscape of the global market for dimethyl carbonate is highly fragmented and largely competitive.
All these factors could make the market tougher for small players in the next few years, observes Transparency Market Research in a recent report.
Also, restrictions in executing advanced technologies to synthesize the desirable grade of dimethyl carbonate could also present challenges ahead of companies operating in the global dimethyl carbonate market.
Some of the leading players in the market are Tokyo Chemical Industry Co., Ltd. (TCI), HaiKe Chemical Group, Tongling Jintai Chemical Industrial Co., Ltd., Arrow Chemical Group Corporation, UBE Industries Limited, and Alfa Aesar.The report states that the global dimethyl carbonate market was valued at US$345.9 mn in 2016 and is projected to rise to an opportunity of US$553.3 mn by 2025 at a CAGR of 5.5% from 2017 to 2025.
The segment is expected to remain a key consumer of dimethyl carbonate over the next few years as well, thanks to the increased usage of polycarbonates in areas such as optical media, electronics, and automotive.Are you a start-up willing to make it big in the business?
Grab an exclusive PDF sample of this report hereIn terms of both volume and value, the market for dimethyl carbonate in Asia Pacific accounted for the dominant share in the global dimethyl carbonate market in 2016.
