Dimethyl formamide, commonly abbreviated as DMF, is an organic compound which is colorless and a water-soluble liquid used as solvent. Dimethyl formamide is miscible with water in all proportions and is a dominant hydrophilic aprotic solvent for various inorganic, organic, and resin products. It is primarily used in performing chemical reaction due to its miscibility with various compounds. It is also frequently used in chemical reactions and other applications that require high solvency power owing to its attractive solvent properties such as high dielectric constant, low volatility, and its aprotic nature. Dimethyl formamide is also called as universal solvent. It is used as a common solvent in heck reaction, in recovery of olefins via extractive distillation, in electrospinning, in production of acrylic fibers, etc. Dimethyl formamide is a derivative of formamide and an amide of formic acid. It is odorless when it is in its pure form. However, it has fishy odor when it is mixed with impurities. Dimethyl formamide is produced by mixing methyl formate with dimethylamine. It can also be prepared from supercritical carbon dioxide using ruthenium based catalysts. Furthermore, it can be synthesized by the reaction of dimethylamine with carbon monoxide. Dimethyl formamide is used as a derivative in several applications. Some of the derivatives of dimethyl formamide are N,N-Dimethylformamide diethyl acetal, N,N-Dimethylacetamide dimethyl acetal, N,N-Dimethylformamide dimethyl acetal, N,N-Dimethylformamide ditert-butyl acetal, and N,N-Dimethylformamide. The solvent properties of dimethyl formamide and its usage in a wide range of applications are estimated to be the key drives of its demand during the forecast period. However, health concerns associated with prolonged exposure to dimethyl formamide are anticipated to affect its overall demand.
Based on end-use industry, dimethyl formamide can be segmented into pharmaceutical, petrochemical, chemical, electronics, agrochemicals, and others. Dimethyl formamide finds application in ink & dyes, pesticides, adhesives, leather, plastics, films & coatings, and others. Application of DMF in pharmaceutical is anticipated to remain dominant during the forecast period. The pharmaceutical application segment is estimated to exhibit a significant CAGR during the forecast period. In the pharmaceutical industry, dimethyl formamide is used as a reaction and crystallization solvent due to its excellent solvent properties. Following the pharmaceutical industry, the chemical industry is projected to be a key market during the forecast period.
In terms of region, Asia Pacific accounted for the maximum share of the dimethyl formamide market in 2016 and is estimated to remain the dominant region during the forecast period. Growth in the pharmaceutical industry along with government initiatives in implementation of pharmaceutical hub in the developing countries such as India and China contributed the demand for dimethyl formamide. Furthermore, growth in the chemical industry in Asia Pacific contributed to the expansion of the dimethyl formamide market. In Asia Pacific, China constitutes the leading market for dimethyl formamide in terms of volume and revenue. China is not only the largest consumer but also largest producer of dimethyl formamide in world. Following Asia Pacific, North America accounted for a significant share of the dimethyl formamide maket in 2016. North America is world leading region pharmaceutical industry as major companies has established R&D labs located in U.S.This is the major driver for demand of dimethyl formamide in North America. Asia Pacific is expected to exhibit a significant CAGR between 2017 and 2025. Other regions such as Europe, Middle East & Africa, and Latin America are anticipated to exhibit slow to moderate growth during the forecast period.
The dimethyl formamide market is highly competitive. Some of the key players operating in the global dimethyl formamide market are Eastman Chemical Company, OCI Corporation, Zhejiang Jiangshan Chemical Co., Ltd., etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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