The global dimethylcarbonate (DMC) market size is anticipated to rise owing to increasingadoption of batteries by several manufacturers to adhere to strict
environmental regulations across several economies. Fortune Business Insights, in its latestupcoming report, titled “Dimethyl Carbonate (DMC) Market Size, Share &Industry Analysis, By Grade (Industrial Grade (?99%), Reagent Grade (99.1% -
99.8%), Battery Grade (?99.9%)), By Application (Chemical Synthesis,
Pharmaceuticals, Pesticides, Paints & Dyes, Electronics, Others) Others and
Regional Forecast, 2024-2032.”, predicts promising growth for the marketduring the projected horizon.
Source:
Dimethyl carbonate isgenerally an eco-friendly solvent widely used as a raw material in the
manufacturing of adhesives, coatings, and cleaning agents. A colorless and
flammable liquid is commonly regarded as a green reagent. Furthermore, it is
chemically prepared by the reaction between phosgene and methanol. In 2009, the
U.S. Environmental Protection Agency (EPA), exempted dimethyl carbonate from
the volatile organic compounds that lead to the popularity of the solvent
across several industries globally. Moreover, it has lower levels of toxicity
and is considered biodegradable.
What does the ReportOffer?
The market report offers a detailed assessmentof the various market drivers and restraints, opportunities, and challenges
that the market will face during the projected horizon. Furthermore, the report
provides comprehensive research into the regional developments of the market,
affecting the market growth during the forecast period. In addition to this,
the report includes information sourced from advice of expert professionals
from the industry by our research analyst.
The competitive landscape offers furtherdetailed insights into the strategies such as product launches, partnerships,
merger and acquisitions, and collaborations adopted by the companies to
maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Adoption ofLithium-ion Batteries to Aid Growth
In March 2020, XNRGI, AU.S.-based Company, announced its plan to set a high-temperature lithium-ion
battery plant at Gurugram in Haryana, India. According to the company, the
factory is expected to be built spread over 30,000 square feet wilt a
production capability of 240 MWh of batteries every year. The batteries can be
charged up to 80% of its capacity in less than two hours and can operate at
high temperatures of 55 degree Celsius too. The companies operating in the market
are adopting strategies such as merger and acquisition, expansion, and product
launches to gain maximum share for the market during the forecast period.
Furthermore, productinnovation by the companies is expected to drive the growth of the market during
the forecast period. For instance, Flux Power Holdings Inc., in March 2020,
announced its launch of new LiFT Pack L48 lithium-ion pack of batteries at the
annual MODEX 2020. The company reported that the lithium-ion batteries are
designed especially for three wheel forklifts extensively used in high
performing warehouses. Novel product launches and increasing demand for
batteries to power several devices will drive the growth of the market during
the projected horizon.
Regional Analysis:
R&D Activities byCompanies to Promote Growth in North America
Among the regions,Asia-Pacific will witness huge growth for the market during the forecast
period. This is ascribable to factors such as presence large chemical synthesis
industries in Asia-Pacific. On the other hand, the market in North America is
likely to grow in the forthcoming years. R&D activities by prominent
companies such as Tesla to develop hybrid electric vehicles, and plug-in hybrid
electric vehicles in North America will contribute to the growth of the market
during the projected horizon.
