The Dimethylformamide (DMF) Market is projected to reach USD 792.1 Million by 2022, at a CAGR of 4.43% from 2017 to 2022. The growth of the DMF market is driven by increased demand for dimethylformamide from various end-use industries such as chemical, electronics, pharmaceutical, and agrochemical. Moreover, the increased use of synthetic leather in the footwear and automotive industries is also expected to drive the growth of the DMF market as dimethylformamide is used for manufacturing synthetic leather.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129340374

BASF (Germany), Eastman Chemical (US), Merck (Germany), Luxi Chemical Group (China), Jiutian Chemical Group (Singapore), Mitsubishi Gas Chemical (Japan), The Chemours (US), Zhejiang Jiangshan Chemical (China), Chemanol (Saudi Arabia), AK-KIM (Turkey), and Pharmco-Aaper (US) are some of the key companies operating in the DMF market. These companies have adopted various development strategies to strengthen their position in the DMF market. Investments & expansions were the major strategies adopted by these leading players between 2016 and 2017 to strengthen their foothold and maintain a sustained growth in the DMF market.

Besides investments & expansions, the companies have also adopted the strategies of new product launches, mergers & acquisitions, and partnerships to increase their shares in the DMF market. These strategies accounted for a significant share of the overall growth strategies adopted by the key players of the DMF market between 2016 and 2017.

There are several China-based companies operating in the DMF market. However, BASF (Germany) and Merck (Germany) are the most important players of the DMF market. In the past two years, these two companies have adopted investments & expansions as their key growth strategies to enhance their position in the DMF market.

In December 2017, BASF (Germany) expanded the scope of its research collaborations within the platform of the Network for Asian Open Research (NAO). The company is carrying out research in the fields of advanced materials, biosciences, and chemical processes. This is expected to further enhance R&D capabilities of BASF in the Asia Pacific region, thereby enabling it to cater to the increased demand for dimethylformamide solvents from the region.

In November 2016, Merck (Germany) invested USD 275 million to increase its production of pharmaceuticals in China so as to cater to the increased demand for dimethylformamide solvents from the pharmaceuticals industry of the Asia Pacific region