Ocean View, DE -- (SBWire) -- 05/22/2020 --Dimethyl carbonate market share in the solvent sector is anticipated to grow at a CAGR of more than 5% over the coming seven years. The ability to provide exceptional solubility, odor, and low rate of evaporation is expected to make the product more useful in coating resins, concrete coatings, auto refinish, steel drum linings, architectural coatings, floor coatings, and traffic paints. Eco-friendly nature of the product along with its low costs are projected to enhance its demand in the production of solvents and automotive fuels, thereby catalyzing the growth of dimethyl carbonate industry.
Dimethyl carbonate market expansion is likely to be affected due to requirement of its manufacturing technology which needs to undergo various checkpoints and pass the stringent guidelines formulated by the license providers. Difficulty in syncing with technology implementation will obstruct product penetration over the coming years.
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Top Companies
1. Akzo Nobel N.V.
2. UBE Industries Limited
3. Tangshan Chaoyang Chemical Co. Ltd.
4. HaiKe Chemical Group
5. EMD Millipore Corporation
6. Alfa Aesar
7. Sigma-Aldrich Co. LLC
8. Shandong Shida Shenghua Chemical Group Co. Ltd.
9. Dongying City Longxing
10. All-Chemie Ltd
Growth Drivers are
1. Robust growth in polycarbonate industry
2. Increasing product demand in paints & coatings
With increasing disposable incomes and enhanced living standards, populace across the globe is more inclined towards advanced electronic gadgets like tablets, ear-pods, smart-phones and many others. Growing adoption of dimethyl carbonate in the manufacturing of electronic gadgets including smart phones and other appliances is likely to stimulate business growth.
Driven by positive application outlook in various end-use industries including paints & coatings, electronics and automotive industry, dimethyl carbonate market is expected to showcase remarkable traction through 2024. In 2015, the global polycarbonate business accounted for a revenue of over USD 14 billion on account of expansive application in automotive and electronics industry and is expected to grow significantly over the coming years.
Also, dimethyl carbonat market e showcases valued added emission properties which makes making it appropriate for application in transportation fuel. Estimated suggest that global dimethyl carbonate market size will exceed USD 738.2 million in annual valuation by 2024.
Dimethyl carbonate market offers high light transmission, excellent electrical insulation, creep modulus, dimensional stability, thermal resistance and some PC physical characteristics which makes it ideal for the making of vehicle parts. Rapid expansion of automobile industry will boost the consumption of the material.
In 2015, the paints & coatings industry worldwide accounted for USD 110 billion in revenues and is expected to exceed USD 165 billion by 2024. The product also finds application in architectural coatings, steel drum linings, which may further stimulate the production of the compound. Dimethyl carbonate industry share from solvent applications is likely to gain profits at a rate of nearly 6% over through 2024.
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Growth Drivers are
1. Robust growth in polycarbonate industry
2. Increasing product demand in paints & coatings
Construction and real estate sector is rapidly evolving with growing demand for new infrastructure. This is further propelling the paints & coatings industry. Dimethyl carbonate is an economic product that offers superior solubility characteristics and is widely used as a solvent in paints. The product offers high evaporation rate, odor and solubility, making it suitable for usage in paints and coatings.
North America dimethyl carbonate market size, which was estimated at more than USD 90 million in 2015, is projected to expand remarkably over the coming seven years. Favorable government policies to improve the public infrastructure along with scaling up of the construction activities is anticipated to support the business expansion. U.S. dimethyl carbonate industry is likely to be a major revenue driver.
Leading Key Players are
Akzo Nobel N.V., UBE Industries Limited, Tangshan Chaoyang Chemical Co. Ltd., HaiKe Chemical Group, EMD Millipore Corporation, Alfa Aesar, Sigma-Aldrich Co. LLC, Shandong Shida Shenghua Chemical Group Co. Ltd., Dongying City Longxing, All-Chemie Ltd
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At 5% CAGR, Dimethyl Carbonate Market 2024: Global Key Vendors Akzo Nobel UBE Industries Limited, Tangshan Chaoyang Chemical Co. Ltd., HaiKe Chemical Group, EMD Millipore
Dimethyl Carbonate Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period of time.