The global ethylene carbonate market size reached US$ 311.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 434.1 Million by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
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.
Ethylene Carbonate Market Trends:
The growing utilization of lithium-ion batteries in electric vehicles (EVs) due to their power-to-weight ratio, energy efficiency, high-temperature performance, and low self-discharge advantage represents one of the key factors driving the market. Moreover, C3H4O3 is used as a plasticizer and precursor for manufacturing polymers and organic synthesis. This, along with the rising employment of C3H4O3 as a release agent and detergent around the world, is propelling the growth of the market. In addition, there is an increase in the usage of C3H4O3 in the gas washing process to remove contaminants from product gas. This, coupled with the growing application of C3H4O3 as an intermediate in the synthesis of polycarbonate diol worldwide, is positively influencing the market. Besides this, the escalating demand for C3H4O3 in photochromic treatments to enhance the visual acuity of individuals is offering lucrative growth opportunities to industry investors. Additionally, key market players of lithium-ion batteries are extensively investing in research and development (R&D) activities to develop a new cooling system, which is projected to increase overall sales of C3H4O3.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ethylene carbonatemarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on form, application and end use industry.
Breakup by Form:
Breakup by Application:
Lithium Battery Electrolytes
Breakup by End Use Industry:
Oil & Gas
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, FUJIFILM Wako Pure Chemical Corporation, Huntsman Corporation, Merck KGaA, Mitsubishi Chemical Holdings Corporation, Otto Chemie Private Limited, Shandong Senjie Cleantech Co. Ltd., Thermo Fisher Scientific, Toagosei Co. Ltd., Tokyo Chemical Industry Co. Ltd, Vizag Chemicals International and Zhengzhou Meiya Chemical Products Co. Ltd.
Base Year of the Analysis
Form, Application, End Use Industry, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
BASF SE, FUJIFILM Wako Pure Chemical Corporation, Huntsman Corporation, Merck KGaA, Mitsubishi Chemical Holdings Corporation, Otto Chemie Private Limited, Shandong Senjie Cleantech Co. Ltd., Thermo Fisher Scientific, Toagosei Co. Ltd., Tokyo Chemical Industry Co. Ltd, Vizag Chemicals International and Zhengzhou Meiya Chemical Products Co. Ltd.
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Key Questions Answered in This Report
The global ethylene carbonate market was valued at US$ 311.3 Million in 2022.
We expect the global ethylene carbonate market to exhibit a CAGR of 5.5% during 2023-2028.
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 BASF SE, FUJIFILM Wako Pure Chemical Corporation, Huntsman Corporation, Merck KGaA, Mitsubishi Chemical Holdings Corporation, Otto Chemie Private Limited, Shandong Senjie Cleantech Co. Ltd., Thermo Fisher Scientific, Toagosei Co. Ltd., Tokyo Chemical Industry Co. Ltd, Vizag Chemicals International, and Zhengzhou Meiya Chemical Products Co. Ltd.
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