Carbonate Market to Garner $7.1 Billion, Globally, By 2030 at 7.2% CAGR, Says Allied Market Research

Portland, ore.And January 20 2022 /PRNewswire/ – Allied Market Research has published a report titledCarbonate market by type (dimethyl, propylene, ethylene, glycerin, 1,2-epoxydodecane, 1,2-hexadecene, styrene, epichlorohydrin, and others), application (solvent, catalyst, electrolyte, additive, detergent, and others), and End Use (Cosmetics, Personal Care, Paints and Coatings, Pharmaceuticals, Textiles, Energy, Energy, Polymer, etc.): Global Opportunity Analysis and Industry Outlook, 2021-2030”. According to the report, the global carbonate industry was born 3.5 billion dollars In 2020, it is expected to generate $7.1 billion By 2030, we could see a compound annual growth rate of 7.2% from 2021 to 2030.

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basic determinants of growth

Rising demand for Dimethyl Carbonate in the textile industry and the surge in the use of organic carbonate in solvent and electrolyte applications is driving the growth of the global carbonate market. However, the side effects associated with the use of organic carbons are hampering market growth. On the other hand, the growth of the pharmaceutical sector provides new opportunities in the coming years.

Covid-19 scenario

  • The outbreak of the COVID-19 pandemic had a slight negative impact on the growth of the global carbonate market, due to its reliance on the cosmetics, personal care, paints, coatings, textiles and polymer industries.
  • Propylene carbonate is used in cosmetics and personal care preparations to dissolve or suspend other ingredients in cosmetics. In addition, it is used to reduce the thickness of cosmetic and personal care. Thus, the temporary shutdown of manufacturing facilities in the cosmetic industry has hampered the growth of the carbonate market during the shutdown.
  • Also, the major manufacturers of the cosmetics industry faced a gap between supply and demand, especially in the initial period of the epidemic.

the glycerol sector to maintain its leadership position throughout the forecast period

Based on type, the glycerol segment occupied the highest market share in 2020, accounting for nearly a third of the global carbonate market, and is estimated to maintain its leadership position throughout the forecast period. This is due to increased concerns about the sustainability and diversity of glycerol carbonate. Moreover, the dimethyl segment is expected to show the highest compound annual growth rate of 8.1% from 2021 to 2030, owing to its environmentally friendly properties.

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Paints and paints The clip to maintain its leading position during the forecast period

Based on end use, the Paints and Coatings segment captured the largest share in 2020, contributing nearly a third of the global carbonate market, and is expected to maintain its leading position during the forecast period. It is due to the polar property and metallic wetting property of propylene carbonate that it is suitable for use in the coating industry for applications such as wire enamels, polyurethane production, and epoxy. However, the polymer segment is expected to account for the largest compound annual growth rate of 8.2% from 2021 to 2030, due to higher demand for packaging products.

Asia Pacific, followed by Europe & North America, to maintain its dominance by 2030

based on the area, Asia Pacific, followed by Europe & North America, which had the highest market share by revenue for 2020, capturing more than two-fifths of the global carbonate market. Moreover, the same region is expected to experience the fastest compound annual growth rate of 8.0% during the forecast period, due to rapid technological development and increasing demand for environmentally friendly coating products.

Leading market players

  • BASF SE
  • Huntsman International LLC
  • LyondellBasell Industries Holdings BV
  • Enabling materials
  • Anmol Chemical Group
  • KOA Co., Ltd.
  • Shandong Lixing Chemical Co., Ltd. Ltd.
  • ReactChem Limited.
  • SMC Global
  • TOAGOSEI Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

pawan kumar, CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relationships with many companies and this helps us extract market data that helps us create accurate research spreadsheets and assures the utmost accuracy in our market forecasts. All the data presented in the reports published by us are extracted through preliminary interviews with senior officials from the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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