Dimethyl Carbonate Global Market Report 2024

The global dimethyl carbonate market has grown strongly in recent years. It will grow from $1.08 billion in 2023 to $1.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as the demand for sustainable solvents, a focus on renewable chemicals, applications in biomedical research, increasing demand for specialty chemicals, and a broader shift towards green chemistry practices.

The global dimethyl carbonate market is expected to see strong growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to the demand for battery electrolytes, integration into the automotive sector, advancements in biomedical applications, and increasing demand for energy storage solutions. Major trends in the forecast period encompass the expansion of regional markets, a growing awareness of environmental considerations, a shift towards green chemistry practices, adherence to stringent environmental regulations, and the substitution of harmful solvents with more environmentally friendly alternatives.

The dimethyl carbonate market is anticipated to experience growth due to the heightened demand for lithium-ion batteries. These batteries, reliant on lithium ions in their electrochemistry, utilize dimethyl carbonate as an electrolyte to enhance the octane number. In July 2021, the United Nations Department of Economic and Social Affairs reported a surge in lithium-ion battery demand from 285 GWh in 2019 to 400 GWh in 2022, with projections reaching 2,000 GWh in 2030. This increased demand for lithium-ion batteries is a significant factor propelling the growth of the dimethyl carbonate market.

The dimethyl carbonate (DMC) market is set to grow with the expansion of the pharmaceutical sector. As a key solvent and reagent in pharmaceutical intermediate production, dimethyl carbonate experiences increased demand with the pharmaceutical industry's growth. Data from the India Brand Equity Foundation in November 2022 revealed that India's domestic pharmaceutical sector, valued at $42 billion in 2021, is expected to reach $65 billion by 2024 and $120-$130 billion by 2030. This rise in the pharmaceutical sector is a driving force behind the growth of the dimethyl carbonate (DMC) market.

The dimethyl carbonate market is witnessing growth propelled by escalating demand in the electronics and automotive sectors. With a changing economy and improved living standards, consumers exhibit a heightened preference for advanced electronics and automobiles. Dimethyl carbonate serves a crucial role as an electrolyte in lithium-ion batteries used in various electronic devices and vehicles. As per research by Care Ratings in March 2021, consumer electronics and appliance manufacturers are planning a 5% to 8% output increase in fiscal 2022. The Global EV Outlook 2021 reports a 50% increase in consumer spending on electric vehicle purchases in 2020, amounting to USD 120 billion. This increasing demand in the electronics and automotive industries directly contributes to the heightened demand for dimethyl carbonate.

Product innovation emerges as a key trend in the dimethyl carbonate market, with major players focusing on developing innovative products to maintain a competitive edge. For example, Asahi Kasei completed a licensing deal in July 2021 for a technology package that produces high-purity ethylene carbonate (EC) and high-purity dimethyl carbonate (DMC) using CO2 as a primary feedstock. This technology package addresses the growing demand for high-purity EC and DMC, essential components of lithium-ion battery electrolyte solutions used in smartphones and electric vehicles.

Major companies in the dimethyl carbonate (DMC) market are strategically seeking government approvals for their production sites to enhance their market position. In September 2022, Balaji Amines obtained environmental clearance and consent to operate from the Maharashtra Pollution Control Board for its new plant in Chincholi, Solapur. This milestone enables commercial production of DMC, propylene carbonate, and propylene glycol, strengthening the company's position with an impressive installed capacity of 15,000 metric tons per year for each product.

Major companies operating in the dimethyl carbonate market report are Shandong Haike Chemical Industry Group Co. Ltd., Kowa American Corp., Shandong Wells Chemicals Co. Ltd., Qingdao Aspirit Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Haike Chemical Group, Kindun Chemical Co.Limited, Hefei TNJ Chemical Industry Co.Ltd., Arrow Chemical Group Corp., Dongying City Longxing Chemical Co. Ltd., Hebei New Chaoyang Chemical Stock Co.Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying Hi-tech Spring Chemical Industry Co. Ltd., Aarsha Chemicals Private Limited, Tongling Jintai Chemical Industrial, UBE Industries, Tangshan Chaoyang Chemical Co. Ltd., Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Linyi Evergreen Chemical Co. Ltd., Akzo Nobel N.V., Alfa Aesar, Taizhou Lingyu Chemical Co. Ltd., Sigma-Aldrich Co. LLC, Dongying Jintan Chemical Co. Ltd., Luxi Chemical Group Co.Ltd., Dongying Xinyuan Chemical Co. Ltd., Dongying City Shuangma Chemical Co. Ltd., and Dongying Dafeng Chemical Co. Ltd.

Asia-Pacific was the largest region in the dimethyl carbonate market in 2023. The regions covered in the dimethyl carbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dimethyl carbonate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Dimethyl carbonate is available in various grades, including industry grade (>99.0 weight %), pharmaceutical grade (>99.5 weight %), and battery grade (>99.9 weight %). The industry-grade (>99.0 weight %) segment is utilized in the production of polycarbonates and the synthesis of solvents and reagents. Industry-grade dimethyl carbonate is specifically designed for industrial purposes, contributing to the manufacturing of coatings, adhesives, and cleaning agents. Dimethyl carbonate is applied in various processes such as polycarbonate synthesis, battery electrolyte, solvents, reagents, and other applications like fuel additives, electrolytes for supercapacitors, and electrolytes for dye-sensitized solar cells. Industries such as plastics, paints and coatings, pharmaceuticals, batteries, agrochemicals, and others utilize dimethyl carbonate for various applications.

This report provides dimethyl carbonate market statistics, including dimethyl carbonate industry global market size, regional shares, competitors with a dimethyl carbonate market share, detailed dimethyl carbonate market segments, market trends and opportunities, and any further data you may need to thrive in the dimethyl carbonate industry. This dimethyl carbonate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The dimethyl carbonate market consists of sales of dimethyl carbonate used to synthesize polyurethane, polycarbonate, agricultural chemicals, and medicines. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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