Dimethyl Carbonate Market Value to Reach $1.6 billion by 2027, at a CAGR of 7.2%| MarketsandMarkets™
The dimethyl carbonate market is projected to grow from USD 1.1 billion in 2022 to USD 1.6 billion by 2027, at a CAGR of 7.2% from 2022 to 2027. 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), Alfa Aesar (UK), Lotte Chemical (South Korea), Kowa Company Ltd. (Japan), Kishida Chemical Co. Ltd. (Japan), Tokyo Chemical Industry Co., Ltd. (Japan), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Guangzhou Tinci Materials Technology Co., Ltd. (China), Haike Chemical Group (China), Dongying Hi-tech Spring Chemical Industry Co., Ltd. (China), Hebei New Chaoyang Chemical Stock Co., Ltd. (China), Shandong Depu Chemical Industry Science and Technology Co., Ltd. (China), Connect Chemicals (Germany), and Qingdao Aspirit Chemical Co., Ltd. (China). are some of the leading players operating in the dimethyl carbonate market. These players have adopted strategies such as expansions, new product development, partnership, and joint ventures to enhance their position in the market.
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In February 2022, Lotte chemical has announced its expansion plan. The company is planning to build new plant which will produce high quality organic solvents such as dimethyl carbonate for lithium-ion battery electrolyte.
In April 2021, Merck KGAA announced its expansion of R&D and manufacturing capabilities at its Japan site. The aim of this expansion is to accelerate innovations in electronic material spaces.
In July 2019, Ube Industries announced about its expansion of new plant in US. The new plant has production capacity of 50,000 tons of DMC annually and will help to increase the total DMC production of the company.
Ube Industries Ltd. (Japan) is one of the leading players in the dimethyl carbonate market. The company has diverse range of business activities and has various manufacturing locations across Japan. The dimethyl carbonate solvent manufactured by company can be used for various applications such as coatings, adhesives, resins, electrolyte in lithium-ion batteries and as a raw material for organic synthesis reactions. In 2015, Ube Industries Ltd. entered a joint venture with CNSG Anhui Hong Sifang Co., Ltd. of China, which will license its technology for manufacturing dimethyl carbonate.
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Shandong Shida Shenghua Chemical Group Co., Ltd. (China) is the third-largest player operating in the dimethyl carbonate market. The company manufacture and sales of basic organic chemical products. Dimethyl carbonate, propylene carbonate, ethylene carbonate, ethyl methyl carbonate, lithium hexafluorophosphate, and special additives for electrolytes are some of the major products manufactured by the company. The company is a major supplier to lithium-ion battery electrolyte manufacturer. It has regional presence in Europe, the Americas, Japan, Korea, and Southeast Asia.
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