The Dimethylformamide (DMF) Market is projected to grow from USD 2.3 billion in 2022 to USD 2.7 billion by 2027, at a CAGR of 3.2% between 2022 and 2027. Asia Pacific is estimated to be the largest consumer of DMF. The global DMF market is driven by the growing demand for DMF in different end-use industries.
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The key players operating in the market are Shandong Hualu Hengsheng (China), Jiutian Chemical Group Limited (Singapore), Luxi Chemical Group Co., Ltd. (China), Shaanxi Xinghua Chemistry (China), and Shandong jinmei Riyue Chemical Co., Ltd. (China).
Jiutian Chemical Group Limited is a specialist in the fine chemical industry. It manufactures and produces DMF, methylamine, sodium hydrosulfite, and Dimethylacetamide (DMAC). It is also involved in the processing and sale of consumable carbon dioxide, oxygen-18, and deuterium-depleted water. It is one of the leading players in the DMF market globally. The company has successfully used available local resources to cater to the local as well as the global market. Also, the Singapore government has increased the investments in infrastructure to facilitate and improve the business environment, which has been accessed by the organization to drive growth.
Shaanxi Xinghua Chemistry Co., Ltd. manufactures and sells chemical products such as ammonium nitrate, porous ammonium nitrate, compounded fertilizers, nitric acid, and carbon-based iron powders. It is a well-established chemical manufacturer in China that accounts for the major share of the DMF market in Asia Pacific. The company has become the largest production base of ammonium nitrate, and its product sales have covered 25 provinces and autonomous regions.
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According to Statista, the revenue generated by the country’s appliances business is expected to expand at a 9.4% annual pace between 2020 and 2024, reaching USD 70,388 million by 2024. The country’s population’s level of living and spending power are steadily rising, bolstering the appliance business. It encourages the rapid growth of both foreign and Chinese brands. The country’s growing appliance industry is driving up the use of DMF.
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