Global Dimethylformamide Market 2019-2023
About this market
Growing applications for DMF is one of the major factor driving the growth of the dimethylformamide market. DMF is an organic, colorless, and hygroscopic liquid compound with a sight amine odor. It is used as a universal solvent in various industries, such as petrochemical, agrochemical, polymer manufacturing, and synthetic fiber manufacturing, due to its physical and chemical properties. It is also used in applications such as textiles, copper clad laminate, and leather manufacturing. The growing number of applications of DMF will boost market growth during the forecast period. Technavio’ s analysts have predicted that the dimethylformamide market will register a CAGR of over 4% by 2023.
Growing demand for DMF in China
China is the leading producer and consumer of DMF and accounted for 76%-79% of the global DMF consumption in 2018. In this country, DMF is used as a feedstock to produce polyurethane (PU), an essential chemical used in various industries and a solvent used the in petrochemical, pharmaceutical, acrylic fiber, and electronics industries. The growing elderly population in China will drive the demand for pharmaceuticals in the form of antibiotics and other consumable drugs, therefore, the demand for DMF during the forecast period.
Human health hazards caused by DMF
DMF is highly dangerous for human beings when exposed through inhalation of vapor or skin contact at occupational sites. According to the US Environmental Protection Agency (EPA), acute exposure to DMF has been observed to cause damage to the liver in human beings. Thus, human health hazards caused by DMF is one of the major factor that will impede the market growth.
For the detailed list of factors that will drive and challenge the growth of dimethylformamide market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several companies including Merck KGaA and The Chemours Co. the competitive environment is quite intense. Factors such as the growing applications for DMF and growing demand for DMF in China, will provide considerable growth opportunities to dimethylformamide manufactures. BASF SE, Eastman Chemical Co., Jiutian Chemical Group Ltd., Merck KGaA, and The Chemours Co. are some of the major companies covered in this report.
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