Report : North and Central America Dimethyl Carbonate Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Application (Polycarbonate, Solvents, Pharmaceuticals, Battery Electrolyte and Others), By Grade (Industrial Grade, Pharmaceutical Grade and Battery Grade); By End Use Industry (Plastics, Paints & Coatings, Pharmaceuticals, Battery and Others)
Surging Polycarbonates and Paints & Coatings Industry is Predicted to Fuel the Demand for Dimethyl Carbonate During the Forecast Period.
According to The Insight Partners market research study on “North and Central America Dimethyl Carbonate Market Forecast to 2027 – COVID-19 Impact and Analysis – By Application (Polycarbonate, Solvents, Pharmaceuticals, Battery Electrolyte and Others), By Grade (Industrial Grade, Pharmaceutical Grade and Battery Grade); By End Use Industry (Plastics, Paints & Coatings, Pharmaceuticals, Battery and Others)” the market is expected to reach US$ 153.0 million by 2027 from US$ 110.3 million in 2019; it is expected to grow at a CAGR of 4.3% from 2020 to 2027. The report highlights key factors driving the market and the prominent players along with their developments in the market.
Dimethyl carbonate (DMC) is a non-toxic inorganic compound with chemical formula OC(OCH?)?. It is colorless, flammable and can be classified as a carbonate ester. DMC was produced by reacting phosgene with methanol; however, due to the toxic nature of phosgene gas, it is now produced by oxidation of methanol carbonylation or transesterification. It can be easily mixed with almost all organic solvents, including alcohols, and ethers and ketones, among others. It is also used in diverse applications such as fuel additives, pesticides, pharmaceuticals, solvents, and others.
DMC is used to produce polycarbonates with the help of well-established non-phosgene melt process. It is used as an intermediate in the synthesis of polycarbonate. Polycarbonate is a group of thermoplastic polymer that contains carbonate groups in their chemical structures. Due to its toughness, transparency, and strength, polycarbonate is used in engineering. It can be easily molded, worked, and thermoformed. The rise in the production of polycarbonate due to the increasing demand in the electronics and automotive industries are subsequently aiding in the segment growth. DMC is considered as a better alternative to traditional solvents used in paints owing to no volatile organic compounds (VOCs) emissions and no environmental impact. Besides, its solubility is similar to the mixture of solvents consisting of naphtha light aromatics, making DMC one of the most suitable solvents for paints. With the consistent surge in the construction industry across North and Central America , the overall paints & coatings industry is expected to grow in the region. This would ensure a high growth rate for the DMC market in the coming years.
Based on grade, the market is classified into industry grade, pharmaceutical grade, and battery grade. In 2019, the industry grade segment led the DMC market with a higher market share. DMC can be used as an ideal substitute for highly toxic products such as dimethyl sulfate, phosgene, and methyl chloroformate. It can substitute solvents such as xylene, toluene, ethyl acetate, butyl acetate, acetone, or butanone in the paints and adhesive industry, and is environmentally friendly. It is an excellent hydroxymethylation agent, methylating agent, methoxylation agent, and is a kind of chemical raw material of wide application. In the field of pesticides, DMC can be primarily used to produce methyl isocyanate, It can also be used for synthesizing polycarbonate, diphenyl carbonate, and isocyanate, and so on. The growing demand from electrical & electronics and automotive, pesticides, paints & coatings industry is expected to bolster the industry-grade segment's growth.
The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across all major regions of the world, at a fast pace. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns called by governments of the respective countries. The US, Mexico, Canada, Panama, Costa Rica, and El Salvador are among the most affected countries in North and Central America in terms of confirmed cases and reported deaths as of October 2020. DMC is used in the production of various products that are used on a daily basis. Amid the COVID-19 emergency, the demand for chemicals across various end-user industries has shrunk. Global supply chains are disrupted, and the stock prices of chemical companies have taken unprecedented hits. The lockdowns have also led to supply chain breaks, and manufacturing and office shutdowns, thereby hampering the production and demand for DMC. The automotive, transportation, and consumer products sectors are among the hardest-hit industries, which has also hampered the demand for DMC.
Some of the major key players operating in the North and Central America DMC market include Alfa Aesar, Hebei New Chaoyang Chemcial Stock Co. Ltd., Kowa American Corporation, Merck KGaA, and Ube Industries Ltd. among others. The major players in the dimethyl carbonate market are focused on strategies such as partnerships, mergers and acquisitions and facility expansion to increase the geographical presence and consumer base in North and Central America.
The Report Segments the North and Central America Dimethyl Carbonate Market as Follows:
By End Use Industry
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