The global ethylene carbonate market size is expected to reach USD 435.0 million by 2028 according to a new study by Polaris Market Research. The report “Ethylene Carbonate Market Share, Size, Trends, Industry Analysis Report, By Form (Solid, Liquid); By End-Use (Oil & Gas, Automotive, Personal Care, Medical, Textile, Industrial, Others); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for ethylene carbonate has increased due to growing application in lithium-ion batteries and greater adoption of electric vehicles. Growth in industrialization and urbanization, rising demand from medical and oil & gas sectors, and technological advancements support market growth.
The market is segmented into solid, liquid in terms of form. The demand for solid ethylene carbonate is expected to be high during the forecast period. Solid form is used in automotive, textile, and personal care sectors owing to its application in a wide range of solvents, lubricants, and plasticizers.
There is high demand for lubricants from the automotive and industrial sectors. However, the lithium battery electrolytes segment is expected to grow at a significant pace. Increasing demand for fuel-efficient vehicles coupled with stringent emission norms and regulations supplement the market growth of electric vehicles, thereby accelerating the industry growth.
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Ethylene carbonate is used in diverse industries such as oil & gas, automotive, medical, personal care, textile, industrial, and others. The demand from the automotive segment is expected to increase during the forecast period. The increasing environmental awareness coupled with government initiatives encourages consumers to turn towards electric vehicles, boosting the industry growth. The growing sale of passenger vehicles results in greater demand for lubricants and coatings, thereby increasing the demand for the product.
Growing applications in the personal care, medical, and textile sectors further increase the demand for the product in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Leading industry participants include MERCK KGaA, BASF SE, Huntsman Corporation, Cole-Parmer Instrument Company, LLC., Thermo Fisher Scientific, Asahi Kasei Corp., Oriental Union Chemical Corporation, Toagosei Co., Ltd., Vizag Chemicals International, Alchem Chemical Company, Parasol Chemicals Ltd., Empower Materials, Inc., New Japan Chemical Co. Ltd, Alfa Aesar, and Mitsubishi Chemical Holdings.
Industry players are collaborating with each other for research and development, strengthening market presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the ethylene carbonate market report on the basis of form, application, end-use, and region:
Ethylene Carbonate, Form Outlook (Revenue, USD Million, 2016 – 2028)
Ethylene Carbonate, Application Outlook (Revenue, USD Million, 2016 – 2028)
- Surface Coatings
- Lithium Battery Electrolytes
Ethylene Carbonate, End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Oil & Gas
- Personal Care
Ethylene Carbonate Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa