Dimethylformamide (DMF) Market Predicted to Surpass US$ 2.7 Billion by 2027

According to a research report?"Dimethylformamide (DMF) Market?by Type (Reactant and Feedstock), End-use industries (Chemicals, Electronics, Pharmaceutical, and Agrochemical), and Region (Asia Pacific, Europe, North America, Europe, MEA and South America) - Global Forecast to 2027"?published by MarketsandMarkets, the 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. Growing demand in automotive and electronics market provide opportunities to increase the market.

The key players profiled in the DMF market report 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).?

For manufacturing wire enamel, condensed polyesteramide in the melted form is used, which is prepared by dissolving polyester resins in an organic solvent. In this process, many organic solvents are considered, but mostly DMF is used to make wire enamels. Similarly, DMF is used to dissolve the catalyst in epoxy laminated printed circuit boards. China is one of the largest producers of PCB boards. Huge demand from the electronics industry from China, Japan, South Korea, India, and other Asia Pacific countries is driving the use of DMF.

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According to Statista, the revenue generated from the appliances industry of the country is supposed to witness an annual growth rate of 9.4% between 2020 and 2024, and will amount to USD 70,388 million by 2024. The standard of living and purchasing power of its population are increasing rapidly which makes the appliances industry strong. It supports the strong development of foreign and Chinese brands. This growth of the appliances industry in the country is increasing the use of DMF.