Dimethylformamide (DMF) Market

Dimethylformamide (DMF) Market Size (2023-2028):

The dimethylformamide (DMF) Market is predicted to grow from $ 687.8 million in 2022 to $ 812.1 million in 2028, at a compound annual rate of 7.25% from 2023-2028

The expansion of the DMF market in the world can be attributed to the escalated call for dimethylformamide from various end-use industries such as chemicals, pharmaceuticals, electronics, and agrochemicals. The growing call for polyurethane products by companies that manufacture artificial leather, shoe soles, consumer products (insulation and padding), and their adhesives and coatings is also driving the expansion of the DMF market around the world. Different types of dimethylformamide solvents are employed in different end-use companies, depending on your needs.

These grades of dimethylformamide solvents have different characteristics that differ according to the needs of the applications in which they are employed. Dimethylformamide (DMF) is a colorless and moist organic compound. It forms a homogeneous mixture when added to water and other organic compounds. Dimethylformamide is commonly employed as a solvent in chemical reactions. It is a hydrophilic aprotic solvent and has a high boiling point.

Drivers and Restraints of the Dimethylformamide Market

Dimethylformamide is mainly used in pharmaceutical applications, majorly for the re-crystallization of drugs.  With the increase in expenditure towards the healthcare industry, the market looks lucrative. Dimethylformamide is also used in the agrochemical industry for the production of various pesticides and fertilizers. In addition to this, they are also used in Petrochemical industries for the production of chemicals. All these industrial applications are driving growth in the international marketplace for Dimethylformamide.

Various grades of dimethylformamide solvents offer distinct features, which differ based on the need of end-user applications. On the basis of type, the DMF market has been classified into reactant and feedstock. Growing demand for polyurethane-based products from the automotive industry is fuelling the growth of the DMF market across the world. Further, increasing the use of DMF in applications such as manufacturing drugs, wire enamels, and epoxy laminated coatings, and pesticides is also driving the growth of the DMF market across the planet.

The government restrictions regarding the extent of usage of DMF in industries along with the global economic slowdown have had a negative impact on the market, and it is expected to be the major hindering factor to the growth of the DMF industry.

DIMETHYLFORMAMIDE (DMF) MARKET REPORT COVERAGE:

The dimethylformamide Market has been segmented into the following categories.

Dimethylformamide Market - By Type

1. Reactant

2. Feedstock

Dimethylformamide Market - By Application

1. Chemical

2. Electronics

3. Healthcare & Pharmaceutical

4. Agrochemical

The augmented usage of Dimethylformamide in several end-use industries like chemicals, pharmaceuticals, agrochemicals, and so on is primarily driving the call in the worldwide market. The growing demand for polyurethane-based products from industries manufacturing synthetic leather, shoe soles, consumer goods, and their adhesives and coatings is also fuelling the growth of the DMF market across the globe.

Dimethylformamide is also widely used in the healthcare sector in European countries. Germany for example has been spending a lot in the healthcare sector and was able to contain the covid-19 pandemic in the European region better than any other country. Many countries throughout the world are following Germany’s model and have increased their investments in the healthcare sector. This has caused the regional market to grow significantly.

The market demand from the chemical industry is projected to grow at the highest CAGR during the forecast period of 2020 to 2025, in terms of value. This high growth is attributed to the perennial improvements in the infrastructure and other components in the chemical industry. In addition to this, there are developments going on for making healthcare accessible to all. Dimethylformamide are heavily used in this industry and is helping the market grow. The increasing use of chemicals is supposed to drive the market boom in the near future.

Dimethylformamide Market - By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• The Middle East and Africa 

The Asia Pacific region (APAC) is expected to dominate the global Dimethylformamide market in terms of value during the outlook period of 2020 to 2025. The growing population of Asian countries has sparked a demand for Dimethylformamide in several industries. The market in these end-use segments is led by China and a few more Asian countries. Amidst the incessant technological growth, the demand for high-performing Dimethylformamide is increasing. This has led to developments in the APAC Dimethylformamide market.

North America is the second-largest producer of Dimethylformamide. The North American market is foreseen to grow at an estimated CAGR of 4.8% from 2020 to 2025. The easy affordability of natural products is likely to play a crucial role in supporting demand in the North American market. However, in terms of volume, North America is still way behind the Asia-Pacific region

Key Market Players

1. INEOS AG

2. Arkema Group

3. Henkel AG & Co.

4. Imperial Chemical Corporations

5. Asahi Corporations

Impact of COVID-19 on the  Dimethylformamide Market

The coronavirus has exposed severe challenges to the chemical market by impacting various sectors. The Dimethylformamide market is no different; it saw negative growth in this period owing to the decrease in demand from the manufacturing and chemical production industries which faced severe hardships. The demand was low, and the availability of labor was another factor that made the situation worse.

In addition to this, the reduced capacities of several workplaces affected the efficiency of production. However, more investments are made in the healthcare industries and pharmaceutical sectors. Post the pandemic, the market is expected to grow at a considerable annual growth rate.