According to the current analysis of Reports and Data, the global dimethylformamide market was valued at USD 650.3 Million in 2018 and is expected to reach the value of USD 923.9 Million by the end of the year 2026, at a CAGR of 4.5%. Dimethylformamide (DMF), is a colorless, absorbent liquid with a slight fish like odor. Due to its high aprotic nature, wide liquid range, and low volatility, it is primarily used as a solvent. It is primarily applicable largely in several industries, such as textile, chemical, agriculture, electronics, energy, automotive, pulp and paper. Due to strong applications of dimethylformamide, the solvent is well known as a Universal Solvent across the industries.
Market Dynamics:
The materials and chemicals market revenue has expanded significantly over the years and is expected to register robust revenue growth over the forecast period. Technological advancements, rising investments in research and development activities, increasing demand for raw materials in various sectors such as manufacturing, agriculture, food and beverage, pharmaceutical and biotechnology is boosting market growth. In addition, changes in consumer preference, rising disposable income especially in the developing economics, rising funds by several public and private organizations, and increasing demand for biodegradable products are factors boosting market growth.
Request for sample copy @ https://www.reportsanddata.com/sample-enquiry-form/2220
Key participants include Eastman Chemical Company (U.S.), BASF SE (Germany), Merck & Co., Inc. (U.S.), J.N. Chemicals (India), DuPont de Nemours, Inc. (U.S.), Mitsubishi Gas Chemical (Japan), Zhejiang Jiangshan Chemical Co, Ltd. (China), The Chemours Company (U.S.), Pharmco-Aaper (U.S.), and Luxi Group Co., Ltd. (China).
Geographically, the Asia Pacific market is expected to dominate the market during the forecast period. The driving factor in the region is the growing demand for DMF from end-use industries like agrochemical, electronics, pharmaceutical, and chemical. Due to the ever-increasing demand for pesticides to improve crop yield, the industry is expected to witness healthy gains in the forecast timeline. These trends are also expected to increase the demand for dimethylformamide. Apart from this, growing consumer demand from the pharmaceutical industry will be a key contributor to the Asia Pacific market in the forecast period as a solvent for the preparation of many drugs. Growing population, increasing urbanization, and improving consumer spending are the drivers for the growth of market.
Further key findings from the report suggest
- Dimethylformamide market is growing at a CAGR of 8% in the Asia Pacific, followed by North America and Europe with 4.6% and 3.9% CAGR, respectively. High industrial applications of the dimethylformamide is the key factor to accelerate the market growth during forecast period across all regions.
- The Asia Pacific is expected to account for 58.4% of the global dimethylformamide market. The large number of manufacturers are in developing nations, such as China and India.
- The solvent is the dominating dimethylformamide application, which holds 31.4% of the global market. The Asia-Pacific market is the chief revenue-generating source for this product segment, followed by North America and Europe regions
- The chemical end-use segment is expected to be the fastest-growing market segment during the forecast period 2019-2026 with a CAGR of 4.8% in the end-use segment. The large number use of chemicals to develop dimethylformamide and the risk associated with the chemicals is a challenge.
- Other applications segments, such as construction, personal care products, manufacturing rubber, paint, textiles, was valued at USD 154.8 Million in 2018 and is expected to reach the value of USD 218.4 Million by the end of the year 2026.
- The risk of toxicity associated while producing and the availability of alternatives is likely to hinder the market growth during the forecast period.
For the purpose of this report, Reports and Data has segmented the Dimethylformamide market on the basis of Type, Application, End Use, and Region:
Type (Volume in Metric Tons; Revenue in USD Million; 2016–2026)
- Reactant
- Feed-Stock
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/dimethylformamide-dmf-market
Application (Volume in Metric Tons; Revenue in USD Million; 2016–2026)
- Solvents
- Polymers Fiber
- Films
- Adhesive
- Wire Enamels
- Surface Coatings
- Other Applications
End Use (Volume in Metric Tons; Revenue in USD Million; 2016–2026)
- Chemical
- Electronics
- Pharmaceutical
- Agrochemical
- Others
Request for customization@ https://www.reportsanddata.com/request-customization-form/2220
Regional Outlook (Volume, Metric Tons; Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:
Rare Earth Hydrogen Storage Materials Market Demands
Fiber Based Packaging Market Manufacture
Fabric Softeners and Conditioners Market Trends
Aluminum Solder Wires Market Analysis
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports
Read More Related Reports:
Dimethyl Ether Market Growth Rate
