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The latest industry analysis report published by Reports and Data offers a panoramic view of the global Dimethylformamide (DMF) industry and its key segments.
NEW YORK CITY, NY, UNITED STATES, September 17, 2021 /EINPresswire.com / -- The report offers a concise market summary and highlights the key factors influencing market growth. The data & information provided by the report have been obtained through meticulous research on the market. The report takes a close look at the Dimethylformamide (DMF) market 's historical, present, and future scenarios and explains the paradigm shifts taking place in this business landscape. Industry growth rate, consumer demand, supply ratio, industry worth, and several market trends & opportunities are some of the critical factors highlighted in the report. The report throws light on the competitive landscape of the global Dimethylformamide (DMF) market and systematically profiles the leading companies operating in the market. Furthermore, it highlights the principal strategies & initiatives undertaken by these players for business expansion and growth in the near future.
According to the current analysis of Reports and Data, the global dimethylformamide market was valued at USD 685.4 million in 2019 and is expected to reach the value of USD 974.7 million by the end of the year 2027, 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.
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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).
Major factors driving revenue growth of the global materials & chemicals industry are rise in global population, tremendous increase in demand for essential consumer products such as food & beverages, cosmetics, and personal care & hygiene products, and extensive use of chemicals and raw materials in industries including buildings & construction, automotive, agriculture, textiles, packaging, electronics, and several other industries. Other major factors bolstering market revenue growth are increasing focus of manufacturers on using eco-friendly and sustainable materials & chemicals for reduced environmental impact, introduction of organic and highly sustainable chemicals, and increasing demand for high-performance agrochemicals and specialty chemicals.
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 2019-2027 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 2019 and is expected to reach the value of USD 218.4 Million by the end of the year 2027.
The risk of toxicity associated while producing and the availability of alternatives is likely to hinder the market growth during the forecast period.
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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; 2017–2027)
Application (Volume in Metric Tons; Revenue in USD Million; 2017–2027)
End Use (Volume in Metric Tons; Revenue in USD Million; 2017–2027)
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Regional Outlook (Volume, Metric Tons; Revenue in USD Million; 2017–2027)
Middle East & Africa
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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.
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