Albany, NY -- (SBWIRE) -- 11/09/2017 -- Owing to the dimethyl carbonate market's extremely fragmented nature, the competitive landscape of the market can shift rapidly in the coming years, according to Transparency Market Research. According to 2016 figures, the key players include globally prominent companies such as Akzo Nobel N.V. and BASF SE, along with players that originate and distribute majorly within Asia Pacific markets. Some of these include Dongying City Longxing Chemical Co., Ltd., Tangshan Chaoyang Chemical Co., Ltd., and HaiKe Chemical Group.
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Transparency Market Research states that the scope for new entrants is moderately positive due to the constantly growing demand for dimethyl carbonate. However, players must be aware of strategies that help them achieve the economies of scale to maintain a competitive edge. This includes procuring raw materials in continuity.
Polycarbonate, Paints and Coatings Industries Ramp up Demand for Dimethyl Carbonate
By the end of 2016, the polycarbonate industry is expected to reach US$14.8 bn in terms of revenue. "A major part of the polycarbonate industry's revenue is redirected into obtaining new stocks of dimethyl carbonate," states a TMR analyst. "The end users of polycarbonates, such as the automotive and electronics industries, are creating quite a high demand currently. This demand for polycarbonates is expected to increase even further over the coming years, thereby creating a key driver for the dimethyl carbonate market."
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A similar case can be seen in the paints and coatings industry, where the current global construction industry boom is creating a high demand for paints and coatings, another top application industry for dimethyl carbonate.
Dimethyl Carbonate Market Entrants Could be Deterred by Restrictive Licensing Policies
While the demand for dimethyl carbonate has increased significantly over recent years, manufacturers are facing an uphill task of obtaining the proper certifications and licensing to set up plants in various regions.
Currently, license providers to dimethyl carbonate producers are sticking to a restrictive licensing service and have offered most of the rights to technology to manufacturers of polycarbonates, affecting the growth rate of the market in the long run.
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At the same time, producers of dimethyl carbonate are facing the complication of having to pay top dollar for obtaining the catalysts and creating the perfect process environment. This makes it tough on players that are trying to get into commercial production and procure new manufacturing technologies.
Asia Pacific Continues to Lead Demand for Dimethyl Carbonate
The revenue generated by global dimethyl carbonate players is expected to expand at a CAGR of 6.6% from 2015 to 2023. This market is expected to be valued at US$440.6 mn by the end of 2016, and US$690.1 mn by the end of 2023.
The total volume of dimethyl carbonate is expected to reach 599.0 kilo tons by the end of 2023.
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A majority of the market has consistently been occupied by its application in polycarbonates. By the end of 2023, the share of the polycarbonates segment is expected to reach 53.18% by volume.