The report on ‘Global Dimethylformamide Market’ available with MarketStudyReport, states that global dimethylformamide market is expected to witness substantial growth during 2022-2028.
Increasing utilization in the petrochemical sector and the surging demand for polyurethane-based products from businesses that make cushioning and insulation for consumer goods, synthetic leather, shoe soles, and their coatings & glues are some of the major factors driving the growth of global dimethylformamide market.
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For the unversed, dimethylformamide (DMF) is an organic compound that is frequently used as a solvent in chemical reactions. Plastics, synthetic leather, acrylic fibres, and different pesticides are all made using DMF.
However, the high cost of equipment and devices is likely to hamper market expansion over the projection period of 2022-2028.
Worldwide dimethylformamide market is bifurcated into type, and end-user industry. Based on type, the industry is split into feedstock and reactant segments. With respect to the end-user analysis, the market is classified into agrochemical, pharmaceutical, electronics, chemical, and others.
From the geographical perspective, the primary regions in the market report include North America, Latin America, Asia Pacific, Europe, and the rest of the world. Of these, Asia Pacific market is expected to capture a substantial revenue share over the forecast period, owing to the presence of numerous chemical manufacturers that are present in China, India, & Japan, as well as technological advancements in various sectors.
The prominent companies operating in the global dimethylformamide market are The Merck Group, Mitsubishi Gas Chemical Company Inc., China XLX Fertiliser Ltd., Haohua-Junhua Group Co. Ltd., Eastman Chemical Company, BASF SE, Shaanxi Xinghua Chemistry Co. Ltd., Luxi Chemical Group Co. Ltd., Jiutian Chemical Group Limited, and Shandong Hualu Hengsheng Group Co. Ltd.