Ethylene Carbonate Market Growth Analysis | 2023-2028

Market Insights

The Ethylene Carbonate Market was estimated at US$ 452.51 million in 2022 and is expected to grow at a CAGR of 13.7% during 2023-2028 to reach US$ 982.81 million in 2028.

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What is Ethylene Carbonate?

Ethylene carbonate is a chemical compound with the molecular formula C3H4O3. It is a colorless, odorless liquid that is often used as a solvent and electrolyte in various industries, particularly in the production of lithium-ion batteries. Ethylene carbonate has a high dielectric constant and excellent solvating properties, making it suitable for enhancing the performance of electrolytes in batteries. It also finds applications in the synthesis of polymers, as a solvent for chemical reactions, and in the cosmetics and pharmaceutical industries. Its ability to dissolve a wide range of materials and its low toxicity contribute to its versatility in various industrial and commercial applications.

Market Dynamics

The major factors driving the Ethylene Carbonate Market are as follows-

• Demand surge for lithium-ion batteries and lubricants in the automotive and electronics sectors.

• Urbanization, improved living standards, and a thriving auto industry contributes to lubricant demand.

• Ethylene carbonate acts as a solvent in lubricants that aligns with these demands.

• Increasing electric vehicle adoption further propels the ethylene carbonate market growth.

Segments Analysis

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By Application Type

Based on the application type, the ethylene carbonate market is segmented as lithium battery electrolytes, lubricants, and plasticizers. The lithium-ion battery is expected to witness a significant growth rate in the market and it is widely used in electronic gadgets such as tablets, mobile phones, and medical equipment. A large quantity of electrolytes is dissolved in ethylene carbonate, which is mainly used in lithium-ion battery electrolyte solutions, fueling the market growth during the forecast period.

Regional Analysis

In terms of regions, North America is estimated to witness significant growth over the forecast period with the U.S. and Canada being the major countries with lucrative growth opportunities in the region’s market. The preference of consumers shifting towards synthetic lubricants can be attributed to the excellent features of ethylene carbonate such as wear & tear protection, heavy load holding & low friction, and thermal stability, which is likely to boost the growth of the industry in the regional market. On the other hand, the European ethylene carbonate market is expected to register a significant growth rate with Germany, the UK, and France being the leading countries accounting for an increase in product demand. Increasing sales of electric cars are further expected to drive the growth of the regional market during the forecast period.

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Key Players

Some of the key players in the ethylene carbonate market are-

• Alchem Chemical Company
• Alfa Aesar
• Asahi Kasei
• BASF SE
• Huntsman
• Mitsubishi Chemical
• New Japan Chemical
• Oriental Union Chemical Corporation
• Toagosei Co., Ltd.
• Zibo Donghai Industries.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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