The global dimethylformamide (DMF) market is anticipated to exhibit a progressive CAGR of 4.7% throughout the assessment period. The global market is predicted to be valued at US$ 374.88 Mn in 2022 and is expected to cross US$ 593.4 Mn by 2032. The development of the DMF chemical market all over the world is accounting for the rising interest in polyurethane-based items from numerous companies manufacturing soles of shoes, consumer merchandise, synthetic leather, and their adhesives and coatings.
The widespread adoption of dimethylformamide (DMF) is on the rise as it is massively utilized as a feedstock, specifically for the production of PU. However, economic slowdown, pressure from various regulatory bodies, and government regulations are likely to impede the dimethylformamide (DMF) market growth. DMF is also utilized to make PU elastomers, which assist in manufacturing synthetic leather which is excessively utilized in the making of luxury cars in the automotive industry and is estimated to present growth opportunities for the dimethylformamide (DMF) market in the future.
Dimethylformamide (DMF) comprises a wide array of applications in the manufacturing of pharmaceuticals, wire enamels and laminated epoxy coatings, and pesticides, among other applications, is driving demand for dimethylformamide solvents of varying degrees. Dimethylformamide is known for its uniqueness and variety of applications in several industries such as paint strippers, adhesives, surface coatings, welding gas, wire coating resins, insecticides, medicines, and electrolytic capacitors.
Key Takeaways
- Adoptable properties are seen in different grades of DMF solvents which are able to efficiently meet the needs of the applications where they are deployed. These comprise the production of plastics, synthetic leather, acrylic fibers, and insecticides. Dimethylformamide (DMF) is in high demand because it is used as a catalyst in numerous important chemical processes, including the production of acyl halides.
- The utilization of dimethylformamide derivatives is crucial in the production of wire enamels, insecticides, medicines, and acrylic fibers. Owing to the exceptional properties associated with dimethylformamide (DMF) make it useful as a reaction and crystallization solvent in the pharmaceutical industry for the purposes of purification.
- In addition to that, DMF is utilized in the petrochemical industry in order to separate acetylene from ethylene and butadiene from C4 streams. According to the reports, sales of dimethylformamide (DMF) are anticipated to surge as a result of this (DMF). As an added bonus, the DMF also serves as a solvent in the electrical industry, helping to create raw materials for PCB fabrication.
Source: Finance.Yahoo
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