paint and coatings.
Polycarbonate sector to boost Dimethyl Carbonate Market size over 2016-2024, APAC to majorly drive the regional revenue
Dimethyl Carbonate Market is projected to sketch a profitable roadmap over the years ahead, subject to the extensive product usage in pesticides, polycarbonates, pharmaceuticals, and solvents. Thriving paints & coatings sector, which is expected to accrue USD 165 billion by 2024, is likely to push the product revenue curve in the upward direction. Rapidly expanding electronics & automotive sectors across APAC along with rise in the number of construction activities in BRIC countries are expected to contribute considerably toward the business expansion. According to Global Market Insights, Inc., “Dimethyl carbonate industry, which generated a revenue of more than USD 410 million in 2015, is anticipated to hit USD 738.2 million by 2024.”
Taking into consideration the geographical trends, Asia Pacific dimethyl carbonate industry, which dominated the regional landscape in 2015, is forecast to experience a considerable expansion over the years to come. Rising consumer preference for high quality paints with the increase in per capita income will drive the regional development. Indonesia, China, and India are expected to be the key regional revenue pockets.
U.S Dimethyl Carbonate Market size, by application, 2013-2024 (USD million)
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.
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Dimethyl carbonate industry size in polycarbonate sector, which was evaluated at more than USD 200 million in 2015, is expected to experience a striking growth over the next few years. Escalating applications of polycarbonates across the medical, automotive, lightning & appliances, glazing, and electronics sectors are expected to boost dimethyl carbonate industry growth. Polycarbonate sector, which produced a revenue of more than USD 14 billion in 2015, is slated to hit USD 22 billion by 2024, which in turn, will help the market players to expand their profits through heavy business investments.
Dimethyl carbonate market share in the solvent sector is anticipated to grow at a CAGR of more than 6% 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.
Potential application of dimethyl carbonate as a gasoline additive across the energy sector will further enlarge the scope of the business.
Market players are adopting key business growth strategies such as new product development and high R&D funding to increase their ROI. AkzoNobel N.V., HaiKe Chemical Group Limited, EMD Millipore Corporation, Sigma-Aldrich Corporation, All-Chemie Limited, Alfa Aesar, Shandong Shida Shenghua Chemical Group Company Limited, UBE Industries Limited, Dongying City Longxing Chemical Company Limited, and Tangshan Chaoyang Chemical Company Limited are the key participants of dimethyl carbonate industry.
Author Name : Dhananjay Punekar