As multiple manufacturers increasingly adopt batteries to comply with the strict environmental regulations of multiple economies, the global dimethyl carbonate (DMC) market is expected to expand. Fortune Business Insights predicts that the market will see promising growth within the expected time period.
Dimethyl carbonate is generally an environmentally friendly solvent, widely used as a raw material for the manufacture of adhesives, coatings and cleaning agents. Colorless flammable liquids are generally regarded as green reagents. In addition, it is prepared chemically by the reaction of phosgene and methanol. In 2009, the U.S. Environmental Protection Agency (EPA) excluded dimethyl carbonate from volatile organic compounds, resulting in the solvent's popularity in many industries worldwide. In addition, it has low toxicity and is considered biodegradable.
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What does the report provide?
The market report provides a detailed assessment of the various market drivers and constraints, opportunities and challenges that the market will face during the forecast period. In addition, the report also conducted a comprehensive study of the regional development of the market, which affected the market growth during the forecast period. In addition, the report also includes information obtained by our research analysts from the recommendations of industry experts. The competitive landscape provides more detailed insights into the company's strategies (such as product launches, partnerships, mergers and acquisitions, and cooperation) to maintain a market presence between 2019 and 2026.
Increasing adoption of lithium-ion batteries to promote growth
In March 2020, XNRGI, headquartered in the United States, announced plans to set up a high-temperature lithium-ion battery plant in Gurgram, Haryana, India. According to the company, the plant is expected to be completed, covering an area of more than 30,000 square feet and capable of producing 240 MWh of batteries per year. The battery can be charged to 80% of its capacity in less than two hours, and it can also work at a high temperature of 55 degrees Celsius. Companies operating in the market are adopting strategies such as mergers and acquisitions, expansion and product launches to gain the largest market share during the forecast period.
In addition, the company's product innovation is expected to drive market growth during the forecast period. For example, Flux Power Holdings Inc. announced the launch of a new LiFT Pack L48 lithium-ion battery pack at the annual MODEX 2020 in March 2020. The company reported that the lithium-ion battery was specifically designed for use in high-performance warehouses for three-wheel forklifts. The introduction of new products and the increased demand for batteries that power a variety of devices will drive market growth within the expected time frame.
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The company's research and development activities to promote growth in North America
Among these regions, the Asia-Pacific region will witness tremendous market growth during the forecast period. This is due to factors such as the existence of a large chemical synthesis industry in the Asia-Pacific region. On the other hand, the North American market may grow in the next few years. The research and development activities of well-known companies such as Tesla to develop hybrid electric vehicles and plug-in hybrid electric vehicles in North America will promote market growth within the expected time.
During the forecast period, Europe will achieve healthy growth due to the increasing adoption of DMC as a promising oxygenated fuel. The Latin American market is still in its infancy and will see significant growth in the next few years. The growing demand from the electronics and pharmaceutical industries in the Middle East and Africa will herald market growth from 2019 to 2026.
List of companies operating in the market:
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https://ideas.engagio.com/ideas/ENGAGE-I-8539
https://comunidad.revistamyt.com/post/industrial-alcohol-market-growth-share-size-analysis-report-and-forecast-by–6194d333183ecf42a653e87f
https://www.debwan.com/blogs/210103/Industrial-Alcohol-Market-Size-Share-Supply-Demand-Segments-and-Forecast
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