Dimethylformamide Market 2019 by Regional Statistics, Growth Share, Company Analysis, End-Use, Application, Global Revenue, Forecast 2025
Asia Pacific dimethylformamide market value is majorly contributed to the positive growth trends from agrochemical, chemical, electronics and pharmaceutical industry.
Selbyville, United States – July 29, 2019 /MarketersMedia/ —
Global Market Insights, Inc., announces an ongoing comprehensive report on the “Dimethylformamide Market”. This report provides an exhaustive account of the industry including:
• Dimethylformamide (DMF) market size, historical from 2014 to 2018 and annual forecast from 2019 to 2025
• Major dimethylformamide (DMF) industry trends, technology evolution, economic indicators and business challenges
• Regulatory and geopolitical trends impacting the industry
• Business drivers and pitfalls impacting key regional markets
• Competitive landscape of the industry and detailed profiles on the major companies
DMF is widely used as a solvent, catalyst and reactant in the chemical & petrochemical industry. For instance, inorganic and organic residues are highly soluble in DMF and therefore it is used as a cleaner for hot dip tinned parts in the chemical industry. Moreover, product is widely applicable across electronics industry owing to its high solvency. For instance, high solubility of inorganic substances in DMF results in the production of high voltage capacitors in the electronic industry. Strong growth in the electronics industry mainly in North America, owing to rapid technology advancement, is likely to exert positive influence on the dimethylformamide market size in the forecast timeframe.
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Increasing application in the electronic and pharmaceutical sectors will drive dimethylformamide market growth over the forecast timeframe. Dimethylformamide is a strong solvent that can effectively dissolve a wide variety of organic, inorganic and resin materials. It is used in the production of acrylic fibers and plastics, and in peptide coupling for pharmaceuticals. The substance is also suited for the development and production of pesticides, synthetic leathers, adhesives, fibers, films, and surface coatings, demonstrating the wide scope of DMF industry.
Global dimethylformamide market is segmented into various application segments like chemical, electronics, pharmaceutical and agrochemical. Within research and development labs, DMF is used as a solvent for manufacturing fine chemicals that are later utilized to manufacture and purify active pharmaceutical ingredients. Rising consumption of pharmaceutical products globally will bring in substantial revenues for DMF market.
With rising investments in R&D and supportive initiatives, DMF industry will register lucrative growth from the pharmaceutical sector. For instance, according to India Brand Equity Foundation (IBEF), investment made in R&D by private pharma firms in India increased from 5.3% in FY12 to 8.5% in FY18. Moreover, in ‘Pharma Vision 2020’, the Government of India revealed plans to become the leading end-to-end drug manufacturer by 2020. Similar initiatives will open new growth opportunities for the dimethylformamide market over the projected period.
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Asia Pacific dimethylformamide market value is majorly contributed to the positive growth trends from agrochemical, chemical, electronics and pharmaceutical industry. For instance, India is the fourth largest pesticide producer with an estimated market size of USD 4.9 billion in 2017, after U.S., China and Japan. The industry is anticipated to witness healthy gains in the forecast timeframe due to consistently growing pesticides demand to improve crop yield. These trends will in turn drive the product demand, resulting in triggering DMF market size by 2025. Additionally, rising product demand from the pharmaceutical industry as a solvent for the preparation of several drugs, will be a key contributor to the Asia Pacific market in the coming years.
Europe dimethylformamide market will witness modest growth on account of increasing demand for consumer electronics worldwide and the presence of many leading DMF producers in the region such as BASF and HELM AG. The substance is used in electronic industries mainly to manufacture printed circuit boards (PCBs). Its high solubility to inorganic substances and has found increased application in the production of high voltage capacitors. Augmented production of electronic components and products will boost demand prospects for DMF from European and global manufacturing facilities.
According to the European Semiconductor Industry Association, total sales of semiconductors in Europe had crossed USD 42.9 billion in 2018, which was a considerable increase over the previous year numbers. This indicates a considerable future demand for PCBs in the region and around the globe. An upsurge in consumer electronics sales will invariably propel remunerations for Europe dimethylformamide market.
Some key companies in the dimethylformamide market include BASF, Chemanol, Eastman Chemical Company, HELM AG, Luxi Chemical Group, Merck, PaariChem, Mitsubishi Gas Chemical and Zhejiang Jiangshan Chemical, among others.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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