The global dimethylformamide market has the potential to grow by USD 176.24 million during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and end-users (chemicals, electronics, pharmaceuticals, and others). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BASF SE, Eastman Chemical Co., Jiutian Chemical Group Ltd., Merck KGaA, and The Chemours Co.
Market Overview
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Market Competitive Analysis
The market is fragmented, and the degree of fragmentation will remain the same during the forecast period. ASF SE, Eastman Chemical Co., and Jiutian Chemical Group Ltd. are a few of the significant market participants. Though market vendors will have immense business opportunities over the forecast period, factors such as the introduction of stringent regulations on the use of DMF will challenge their growth. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this dimethylformamide market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and offers information on dimethylformamides offered by various companies. This dimethylformamide market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading dimethylformamide companies, including:
- BASF SE
- Eastman Chemical Co.
- Jiutian Chemical Group Ltd.
- Merck KGaA
- The Chemours Co.
Dimethylformamide Market: Segmentation by Region
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APAC was the largest market for dimethylformamide (DMF) in 2018. The growing demand from end-user industries such as chemicals, agrochemicals, and electronics is augmenting business opportunities for vendors in the dimethylformamide market in the region.
Over 92% of dimethylformamide market growth will originate from APAC. The rising demand for food products because of the extensive population growth is fueling the growth of the market in the region. China, Japan, Taiwan, India, Indonesia, and Malaysia are the key markets in APAC. Market growth in this region will be faster than that of other geographies over the forecast period.
Dimethylformamide Market: Segmentation by End-users
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The chemicals industry is a significant consumer of DMF. DMF is used in the chemical industry to produce PU-based products, agrochemicals, and petrochemicals. The growth of the furniture and agricultural industries will contribute to the growth of the DMF market in this end-user segment.
The growth of the dimethylformamide market in this segment will be faster than the growth of the market in the other segments. The report provides an accurate prediction of the contribution of all the segments to the growth of the dimethylformamide market size.
Dimethylformamide Market: Key Drivers and Trends
DMF is widely used as an industrial solvent in the chemical industry to produce rubber, PU, petrochemicals, agrochemicals, and carbon dioxide. In the petrochemical industry, DMF is used to produce butadiene and to purify acetylene from ethylene and butadiene. With the increasing production of synthetic rubber, the demand for butadiene will also grow, consequently increasing the demand for DMF in the petrochemical industry. Similarly, the growth of the PU industry will also boost the demand for DMF as it is used as a feedstock in PU manufacturing process. The increasing demand for DMF in the chemical industry, coupled with R&D activities, will fuel dimethylformamide market growth during the forecast period.
- To introduce new products, several manufacturers and research firms are focusing on various R&D activities.
- DMF is used as a solvent to prepare epoxy/graphene nanocomposites.
- DMF is used to manufacture efficient solar cells such as CuIn(S, Se)2 CIS molecular precursor solution and CIS absorber material.
- Solar cells manufactured from DMF have higher efficiency compared with other solar cells and are ideal for power conservation.
- With the growing demand for power conservation, the need for DMG-based solar cells will increase.
- The dimethylformamide market will record a CAGR over 4% during 2019-2023.
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Dimethylformamide Market: Key Highlights of the Report for the Forecast Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the dimethylformamide market during the next five years
- Precise estimation of the global dimethylformamide market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the Dimethylformamide industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of dimethylformamide vendors
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