The global ethylene carbonate market size reached USD 344.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 532.4 Million by 2033, exhibiting a growth rate (CAGR) of 4.7% during 2025-2033. Asia Pacific currently dominates the market because of its rapidly growing battery manufacturing sector, strong chemical industry infrastructure, and high demand for electronics and electric vehicles (EVs). The rising focus on renewable energy like wind and solar power, expansion of the automotive sector, increasing applications in coating and adhesives, and advancements in chemical manufacturing processes are various factors impelling the top region market share.
Ethylene carbonate (C3H4O3) is a polar solvent with low toxicity and high boiling point and solubility for polymers. It is a clear crystalline solid, which is odorless and only slightly soluble in water. It forms a soluble salt by bonding with rust and particles found in oil and gas wells and complexing the metal ions. In addition, it decomposes the carbonates and viscosity-enhancing compounds due to its attribute of acidification. It is widely used in lithium battery electrolytes, strip solvents, fiber processing agents, capacitor electrolytes, lubricants, soil hardening agents, organic solvents, raw material for organic synthesis, and medical products.
Expansion of the Electric Vehicle (EV) Market
With nations establishing ambitious targets for cutting carbon emissions and encouraging sustainable transport, the adoption of EVs is swiftly rising. The International Energy Agency (IEA) announced that worldwide EV sales exceeded 17 million units in 2024, indicating a 25% increase. The rise in EV sales is closely tied to the need for lithium-ion batteries, which depend on ethylene carbonate in their electrolyte makeup. Ethylene carbonate improves the stability, efficiency, and energy density of these batteries, rendering it an essential element in addressing the energy storage requirements of EVs. With automakers increasing EV production to satisfy user demand and regulatory requirements, the need for dependable and high-quality battery materials, such as ethylene carbonate, is growing. This trend is accelerating further with the ongoing advancements in EV technologies, positioning ethylene carbonate as a key material in supporting the global shift to sustainable transportation.
Adoption of Renewable Energy Storage Solutions
The growing adoption of renewable energy sources, including wind and solar, is driving the demand for effective energy storage options, in which ethylene carbonate is essential. Ethylene carbonate is a crucial element in the batteries that retain energy produced by renewable sources. These storage systems need to be dependable, long-lasting, and able to attain high energy density, which makes ethylene carbonate crucial for enhancing battery performance. Energy storage stabilizes electricity grids by managing the variable nature of renewable energy generation. With governments and businesses pouring resources into clean energy solutions, the need for sophisticated energy storage technologies, dependent on top-notch electrolytes, such as ethylene carbonate, keeps increasing. In 2025, Su-vastika Systems revealed a strategic investment from Rotomag Enertec aimed at boosting clean energy and energy storage advancements in India and other regions. This collaboration emphasizes the increasing emphasis on energy storage options. Such collaborations are catalyzing the demand for ethylene carbonate to align with the worldwide shift towards clean energy.
Increased Focus on Sustainability and Green Chemistry
There is a rise in the preference for eco-friendly materials across industries, which is leading to the creation of ethylene carbonate with sustainable sourcing and production methods. Manufacturers are exploring renewable feedstocks and reducing the carbon footprint associated with its production. This shift aligns with global shift towards reducing reliance on petroleum-based chemicals and mitigating environmental impact. The push for bio-based alternatives in the chemical industry is also encouraging the development of greener ethylene carbonate solutions. With regulatory agencies enforcing tougher environmental regulations, sectors that depend on ethylene carbonate, including automotive and electronics, are shifting towards more sustainable materials, thereby enhancing the demand for eco-friendly ethylene carbonate products. As a result, the ethylene carbonate market price is increasingly influenced by sustainability trends and regulatory pressures.
Increasing Demand for Lithium-Ion Batteries in Consumer Electronics
The rising need for lithium-ion batteries in consumer electronics is a major factor propelling the ethylene carbonate market growth. As gadgets like smartphones, tablets, laptops, and wearables advance, the demand for high-capacity batteries with extended lifespans, quicker charging, and increased energy density rises. Lithium-ion batteries, which use ethylene carbonate in their electrolytes, are essential for fulfilling these needs. With the rapid advancement of consumer electronics, manufacturers aim to improve battery performance to support more power-intensive features, like high-resolution displays, faster processors, and better connectivity. As these devices become integral to daily life, the need for reliable and efficient batteries grows. For example, the consumer electronics market in India is projected to hit USD 83.70 billion by 2024, highlighting the growth of the industry. This increase in demand intensifies the requirement for ethylene carbonate, establishing it as an essential component in manufacturing high-performance batteries.
Technological Advancements in Battery Technology
Researchers and manufacturers are making advancements to enhance battery efficiency, with key innovations including increased energy density, quicker charging, and improved thermal stability. These advancements are primarily facilitated by ethylene carbonate in electrolytes, which boosts the total efficiency and longevity of lithium-ion batteries. Advancements in next-generation batteries, including solid-state and high-capacity lithium-ion systems, necessitate optimized electrolyte formulations, with ethylene carbonate being crucial. In 2025, French firm ITEN revealed a major advancement in solid-state lithium-ion batteries, reaching an unprecedented 200C discharge rate, which is 100 times greater than standard Li-ion batteries. This advancement drives their Powency™ product range, tailored for IoT, wearables, and high-power use cases. As new applications such as EVs, portable electronics, and energy storage require more sophisticated battery designs, the importance of ethylene carbonate in ensuring peak performance becomes clearer, driving its market expansion.
Rising Demand for High-Purity Ethylene Carbonate
The increasing need for high-purity ethylene carbonate is bolstering the market growth, especially in sectors that necessitate rigorous performance and safety criteria. High-purity ethylene carbonate is crucial for sophisticated applications like lithium-ion batteries, as the quality of electrolytes directly influences battery performance, lifespan, and thermal resilience. With the progression of technology and the rise in energy requirements, the demand for batteries that are more dependable and deliver superior performance intensifies, positioning high-purity ethylene carbonate as an essential component. In industries, such as consumer electronics, automotive, and renewable energy storage, the effectiveness of lithium-ion batteries is strongly connected to the purity of the utilized chemicals. The growing transition towards EVs and energy storage solutions is further driving the market demand. With these sectors concentrating on enhancing energy density and minimizing failures, the demand for high-purity ethylene carbonate is increase.
IMARC Group provides an analysis of the key trends in each sub-segment of the global ethylene carbonate market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on form, application and end use industry.
Breakup by Form:
Breakup by Application:
Breakup by End Use Industry:
Breakup by Region:
The report has also provided a comprehensive global ethylene carbonate market analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Segment Coverage | Form, Application, End Use Industry, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Empower Materials, FUJIFILM Wako Pure Chemical Corporation, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Group Corporation, Otto Chemie Pvt. Ltd., Thermo Fisher Scientific Inc., Toagosei Co., Ltd, Tokyo Chemical Industry Co., Ltd., Zhengzhou Meiya Chemical Products Co., Ltd, etc. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global ethylene carbonate market was valued at USD 344.6 Million in 2024.
We expect the global ethylene carbonate market to exhibit a CAGR of 4.7% during 2025-2033.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous production activities for ethylene carbonate.
The rising adoption of ethylene carbonate as a release agent and in the gas washing process to remove contaminants from product gas, is primarily driving the global ethylene carbonate market.
Based on the form, the global ethylene carbonate market can be categorized into solid and liquid. Currently, solid accounts for the majority of the total market share.
Based on the application, the global ethylene carbonate market has been segregated into lubricants, surface coatings, plasticizers, lithium battery electrolytes, and others. Among these, lubricants currently hold the largest market share.
Based on the end use industry, the global ethylene carbonate market can be bifurcated into automotive, oil & gas, pharmaceutical, and others. Currently, the automotive industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global ethylene carbonate market include Empower Materials, FUJIFILM Wako Pure Chemical Corporation, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Group Corporation, Otto Chemie Pvt. Ltd., Thermo Fisher Scientific Inc., Toagosei Co., Ltd, Tokyo Chemical Industry Co., Ltd., and Zhengzhou Meiya Chemical Products Co., Ltd.