Dimethyl Carbonate market to hit $3.25 billion by 2032, driven by demand for sustainable chemicals.
From GlobeNewswire: 2024-11-26 10:19:00
The Dimethyl Carbonate (DMC) Market is set to reach USD 3.25 billion by 2032, with a CAGR of 12.9% from 2024 to 2032. The market is driven by the demand for sustainable chemicals, especially in the automotive industry for lithium-ion battery production. Governments worldwide are pushing for green chemical usage.
Industry-grade DMC (>99.0 weight %) dominated in 2023, mainly for polycarbonate production and lithium-ion battery electrolytes. Paint and coatings led end-user industries in 2023, with DMC being a green substitute for conventional solvents. The Asia-Pacific region held the largest market share in 2023 at over 42%.
Recent developments include BASF SE’s sustainable DMC production process and Mitsubishi Chemical Corporation’s capacity expansion. The market is poised for growth due to increasing demand for green chemicals and sustainable alternatives across industries like automotive, pharmaceuticals, and cosmetics. Advancements in production technologies and EV adoption will further boost the market.
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Read more at GlobeNewswire: Dimethyl Carbonate Market Projected to Reach USD 3.25