Dimethylformamide (DMF) Market Worth 792.1 Million USD by 2022
PUNE, India, February 1, 2018 /PRNewswire/ —
The report “Dimethylformamide (DMF) Market, by Type (Reactant, and Feed-Stock), End-Use Industry (Chemical, Electronics, Pharmaceutical, and Agrochemical), and Region (APAC, North America, Europe, Middle East & Africa, and South America) – Global Forecast to 2022“ published by MarketsandMarkets™, the market is projected to grow from USD 637.8 Million in 2017 to USD 792.1 Million by 2022, at a CAGR of 4.43% from 2017 to 2022. The growth of the DMF Market is driven by increased demand for dimethylformamide from various end-use industries such as chemical, electronics, pharmaceutical, and agrochemical. Moreover, the increased use of synthetic leather in the footwear and automotive industries is also expected to drive the growth of the DMF Market as dimethylformamide is used for manufacturing synthetic leather.
Browse 95 market data Tables and 38 Figures spread through 120 Pages and in-depth TOC on “Dimethylformamide (DMF) Market“
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Among end-use industries, the chemical segment is projected to lead DMF Market from 2017 to 2022, in terms of value and volume.
Based on the end-use industry, the DMF Market has been classified into chemical, electronics, pharmaceutical, and agrochemical. The chemical end-use industry segment is expected to lead the DMF Market during the forecast period, in terms of value. This segment of the market is also projected to grow at the highest CAGR between 2017 and 2022, in terms of value. In 2016, the chemical end-use industry segment accounted for the largest share of the DMF Market in terms of both, volume as well as value. The growth of this segment of the market can be attributed to increased demand from polyurethane-based products from the footwear, leather, and acrylic fiber manufacturing industries.
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The Asia Pacific DMF Market is projected to grow at the highest CAGR between 2017 and 2022, in terms of value.
In 2016, the Asia Pacific region accounted for the largest share of the DMF Market, in terms of volume and value. The Asia Pacific DMF Market is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of the Asia Pacific DMF Market can be attributed to the increased demand for dimethylformamide from various end-use industries of the region. In 2016, China led the Asia Pacific DMF Market in terms of volume and value, owing to the increased production and consumption of dimethylformamide in China. The growth of the China DMF Market can also be attributed to the increased demand for dimethylformamide from industries manufacturing acrylic fibers, drugs, and printed circuit boards. The DMF Markets in other emerging economies such as India, Indonesia, and Thailand are also projected to grow at a significant rate during the forecast period.
Key players operating in the DMF Market are BASF (Germany), Eastman Chemical (US), Merck (Germany), Luxi Chemical Group (China), Jiutian Chemical Group (Singapore), Mitsubishi Gas Chemical (Japan), The Chemours (US), Zhejiang Jiangshan Chemical (China), Chemanol (Saudi Arabia), AK-KIM (Turkey), and Pharmco-Aaper (US).
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