Some of the prominent factors that positively influence the growth of the Dimethyl Carbonate Market are rising usage as an adhesive, growing disposable income, rising consumption of polycarbonates in electrical & electronics, and automotive sector. Furthermore, flourishing growth of the building & construction sector and rising usage as an adhesive in residential, commercial, as well as the institutional sector is predicted to propel the demand for dimethyl carbonate over the assessment period. Moreover, the burgeoning need for high-quality crops to meet the growing population has increased the consumption of pesticide, which is likely to fuel the demand for Dimethyl Carbonate over the estimated period.
Competitive Analysis
Some of the major players operating in the Dimethyl Carbonate Market are BASF SE (Germany), UBE (India), Alfa Aesar, Thermo Fisher Scientific. (U.S.), Merck KGaA (Germany), HaiKe Chemical Group (China), Tongling Jintai Chemical Industrial Co.,Ltd (China), Tangshan Chaoyang Chemical Co.Ltd. (China), Arrow Chemical Group Corporation (China), Kowa India Pvt.Ltd (India), and Shandong Shida Shenghua Chemical Group Co. (China).
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Market Segmentation
The Global Dimethyl Carbonate Market is segmented on the basis of grades, application, and region. On the basis of the grades, DMC market is classified into the pharmaceutical grade, industrial grade, and battery grade. On the basis of the application, the market is segmented into polycarbonate, solvent, fuel additive, pesticide, pharmaceuticals, and others. Others include adhesives and aerosol sprays. Among these, polycarbonate accounted for the largest market share in 2016 and is predicted to expand at a significant CAGR over the assessment period on account of their growing prominence in numerous end-use industries such as electronics and automotive. Furthermore, increasing disposable income in emerging economies along with rising tendency to own personal vehicle has resulted in an increase in the automotive production and sales, which, in turn, is predicted to propel the growth of the market. Furthermore, rising building & construction activities along with increasing usage of environment-friendly paints & coatings are estimated to drive the demand for DMC over the forecast period. Increasing adoption rate by the medical industry coupled with the continuous expansion of pharmaceutical sector across the globe is predicted to fuel the demand for Dimethyl Carbonate over the assessment period.
Regional Analysis
Asia Pacific holds the largest share of the market and is estimated to dominate the DMC market over the assessment period, which is further followed by Europe and North America on account of rising demand from agriculture, automotive, and building & construction sectors. Developing countries of the Asia Pacific such as India, China, Vietnam, South Korea, and Malaysia are expected to be the fastest growing DMC market worldwide and is estimated to grow at the same pace in the near future. Factors attributed to the regional market growth are increasing use of pesticides, rising population, growing urbanization, ease of availability of inexpensive raw material, labor & land cost, and competitive manufacturing cost. European DMC market is predicted to witness a constant growth due to a huge demand from the automotive industry. North American Dimethyl Carbonate Market is estimated to witness a steady growth due to the strong growth of the U.S. pharmaceutical sector.
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