The global Dimethyl Carbonate Market is likely to foresee impressive growth in the forthcoming years. The is ascribable to the latest innovations and accelerated globalization.
The global dimethyl carbonate (DMC) market size is anticipated to rise owing to increasing adoption of batteries by several manufacturers to adhere to strict environmental regulations across several economies. Fortune Business Insights, in its latest upcoming 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, 2019-2027.”, predicts promising growth for the market during the projected horizon.
Drivers and Restraints:
Increasing Adoption of Lithium-ion Batteries to Aid Growth
In March 2020, XNRGI, A U.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, product innovation 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.
Gain More Insights into the Dimethyl Carbonate Market Research Report
List of the Companies Operating in the Market:
- Merck KgaA
- Henan GP Chemicals Co. Ltd.
- WEGO Chemical Group
- Hefei TNJ Chemical Industry Co. Ltd.
- Akzo Nobel
- UBE Industries
- Thermo Fisher Scientific
- Alfa Aesar
- Aceto Corporation
- Connect Chemicals
- Silver Fern Chemicals.
R&D Activities by Companies 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.
Europe will register healthy growth backed by increasing adoption of DMC as a promising oxygenated fuel during the forecast period. The market in Latin America is in its infancy and will register significant growth in the forthcoming years.