Dimethyl Carbonate Market Poised to Expand at a Robust Pace by 2025
Focused on cutting down carbon footprint to reduce the impact of climate change, almost every nation across the globe is willing to adopt every plausible measure that come their way. And, automobiles account for a large share of pollution and greenhouse gas emissions. As a result, countries are looking at alternative fuel options and, at the same time, exploring options that can reduce carbon dioxide emissions from existing gas-powered vehicles.
Over the years, research has proposed the use of dimethyl carbonate as a fuel additive, thus converting the carbon monoxide and soot produced from vehicles into oxygen-based compounds. This has opened new gateways for growth in the global dimethyl carbonate market. And, Transparency Market Research (TMR), has recently published a report that identifies and lays down a roadmap for companies in the global dimethyl carbonate market to capitalize on these opportunities.
TMR analysts estimate that companies in the global dimethyl carbonate market will have opportunities worth US$ 200 mn between 2017 and 2025. It is also prudent to note that the market will not only throw enough opportunities, but will also steer growth at 5.5% CAGR during the forecast period.
Biofuels’ Challenge is Dimethyl Carbonate’s Advantage
For long, both governments and the scientific fraternity have mulled using biofules as an alternative fuel. However, repeated attempt to scale production resulted in no avail for the industry. This might have forced automobile manufacturers to start looking at other option to optimize emissions from fossil fuel-powered vehicles.
The lack of success in the biofuel industry can turn into an advantage for companies in the global dimethyl carbonate market. Players will look at refining the quality of their chemical in the coming years as demand will catch fire. To achieve high quality standards, players are likely to introduce latest refining equipment. On the other hand, it will also be important for players to enhance production facility to meet the growing demand. Expansion will be key in regions like North America and Asia Pacific where automobile consumption will grow in the coming years. The prevailing slump in the automobile industry is a passing phase and should not trouble the growth of global dimethyl carbonate market.
How Favorable Policies Can Make the Difference?
Almost a decade ago, the United States had exempted dimethyl carbonate from the list of volatile organic compounds. This created opportunities for the product in the chemical industry. Known for its water solubility and its fragrance resembling ether or alcohol, dimethyl carbonate has found substantial use in the chemical industry, especially as a solvent. Such measures from regulatory bodies or the government can offer new growth opportunities in the global dimethyl carbonate market.
Another critical sector that can augment growth in the global dimethyl carbonate market is polymers and plastics. The product is used as an intermediate in making organic chemical polymers. Understanding the nature of the resultant product here, it is imperative to sense opportunities from biotechnology and pharmaceutical industry. While the use of plastics might trickle down in the years to follow, the use of bio-plastics, bio-polymers and organic chain compounds. Looking at the properties, it also emerges as a favorable compound for production of bio-degradable medical implants.
The only possible challenge for the global dimethyl carbonate market could emerge from the volatility of the compound. Nevertheless, technology is likely to hold solutions for safe usage and transport of the product.