Ethylene Carbonate Market Size & Share Report, 2022-2029

 

Ethylene Carbonate Market

Ethylene Carbonate Market touched USD 480 million in 2021 and is projected to reach USD 788 million in 2029 growing at a CAGR of 6.4% during the forecast period 2022-2029.

The factors driving the growth of Ethylene Carbonate Market includes growing demand for lithium-ion batteries and increasing application of Ethylene Carbonate in oil and gas, consumer electronics and automotive industry and rising sales of Electric Vehicles around the world. Moreover, the growing use of Ethylene Carbonate as a solvent in resins, adhesives & sealants, and increasing environment concerns about global warming and depletion of fossil fuels around the world, are pushing the demand for Ethylene Carbonate solutions. In addition, rapid urbanization, rising disposable incomes and increasing economic activities in the emerging economies such as China, Brazil, and South Korea, are expected to boost the market growth in the approaching year.

However, the growth of Ethylene Carbonate Market is hindered due to fluctuations in the prices of raw materials.

 The prominent players operating in the market are New Japan Chemical Co., Ltd., Asahi Kasei Corporation, BASF SE, TOAGOSEI CO., LTD., Huntsman International LLC, Donghai Industries, Alchem Chemical Company, Alfa Aesar, OUCC and Mitsubishi Chemical Corporation among others.

Application – Segment Analysis

Based on the application, the lubricants segment is estimated to expand at a remarkable CAGR over the forecast period due to increasing application of Ethylene Carbonate in oil and gas and automotive sector.

End-Use Industry – Segment Analysis

According to Ethylene Carbonate Market Analysis, the automotive segment is projected to grow at a promising CAGR during the forecast period attributed to growing sales of lithium-ion batteries around the world.

Regional: Segment Analysis

Based on the region, the Asia-Pacific region is projected to grow at a faster CAGR during the forecast period. The increasing application of Ethylene Carbonate in automotive and healthcare industry, reduced labor cost and Government policies for pushing the manufacturing of electric vehicles, are propelling the market growth in the Asia-Pacific region. The Production Linked Incentive scheme implemented by Government of India aims at increasing the production of Advanced Chemistry Cell (ACC), which will boost the demand for electric vehicles.

Market Segmentation

Global Ethylene Carbonate Market by Application

  • Surface Coatings
  • Plasticizers
  • Lubricants
  • Lithium Battery Electrolytes
  • Others

Global Ethylene Carbonate Market by End-Use Industry

  • Automotive
  • Oil & Gas
  • Personal Care & Hygiene
  • Healthcare
  • Others

Global Ethylene Carbonate Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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