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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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