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.
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.
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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).
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
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)
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Application (Volume in Metric Tons; Revenue in USD Million; 2016–2026)
End Use (Volume in Metric Tons; Revenue in USD Million; 2016–2026)
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Regional Outlook (Volume, Metric Tons; Revenue in USD Million; 2016–2026)
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