Ethylene Carbonate Market:
Growth opportunities in the Ethylene Carbonate Market look promising over the next six years. This is mainly due to its enhanced solubility, higher boiling point, improved polarity, and low toxicity as compared to traditionally used solvents.
Ethylene Carbonate Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent driver supplementing the growth of the global ethylene carbonate market include its augmenting implication in lithium-ion batteries as an electrolyte. The latest lithium-ion battery (LIB) incorporates a graphite anode, a lithium metal oxide cathode, which is an electrolyte solution doped with a lithium solution, like lithium hexafluorophosphate in a mixed organic solvent, which is usually ethylene carbonate. Additionally, these batteries are more effective compared to the conventional lead-acid batteries as they require less energy to charge and are lighter in weight, thus stimulating their application in vehicles and consumer electronics. This robust use in primarily attributed to the expanding endorsement of electric vehicles due its benefits, including easy maintenance, cost-efficiency, fuel competence, and minimized fuel costs. These factors together are projected to fuel the market growth. In addition, it is extensively utilized in oil & gas processes, including rehabilitation, finishing processes, and acidizing. It affixes with the scale, rust, and particulates found in wells and synthesis the metal ions to form a soluble salt. These remarkable features further stimulate the market growth.
End-Use Industry Drivers
On the basis of the end-use industry, automotive is projected to witness a faster CAGR over the forecast period. This is mainly owing to the increasing preference of consumers towards the adoption of automotive vehicles due to the robust use of lithium-ion batteries.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to expand at a higher CAGR over the forecast period. This is because of its growing application across various end-use industries such as automotive, healthcare, and oil & gas. Furthermore, the existence of favorable government policies, reduced labor costs, and a robust industrial base are promoting the growth of the market. In addition, the extensively sophisticated electronics sector and a massive production of lithium-ion batteries in Japan and China add to the market growth. In accordance with the Japan’s Ministry of Economy, Trade, and Industry (METI), Japanese companies are dominant in the production of lithium-ion batteries in recent years.
Ethylene Carbonate Market’s leading Manufacturers:
- Alchem Chemical Company
- Alfa Aesar
- New Japan Chemical Co., Ltd.
- TOAGOSEI CO., LTD
- Mitsubishi Chemical Corporation
- Zibo Donghai Industries
- Asahi Kasei Corporation
- Huntsman International LLC
- BASF SE
- OUCC
Ethylene Carbonate Market Segmentation:
Segmentation by Application
- Surface Coatings
- Plasticizers
- Lubricants
- Lithium Battery Electrolytes
- Others
Segmentation by End-Use Industry
- Automotive
- Oil & Gas
- Personal Care & Hygiene
- Healthcare
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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