Global Ethylene Carbonate Market Size To Worth USD 1048.5 Million by 2033 | CAGR of 6.44%
Category: Chemicals & MaterialsGlobal Ethylene Carbonate Market Size To Worth USD 1048.5 Million by 2033
According to a research report published by Spherical Insights & Consulting, The Global Ethylene Carbonate Market Size is Expected to Grow from USD 561.8 Million in 2023 to USD 1048.5 Million by 2033, at a CAGR of 6.44% during the forecast period 2023-2033.
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Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the "Global Ethylene Carbonate Market Size, Share, and COVID-19 Impact Analysis, By Form (Solid and Liquid), By Application (Lubricants, Surface Coatings, Lithium Battery Electrolyte, Plasticizers, and Others), By End-use (Automotive, Industrial, Oil & Gas, Medical, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/ethylene-carbonate-market
Ethylene carbonate market refers to the chemical compounds used in various applications including automotive, industrial, medical, and more. Ethylene carbonate is an excellent solvent owing to its high polarity and high solubility against water. It is a highly polar solvent that dissolves a variety of electrolytes and is utilized in the electrolyte solutions of lithium batteries and as a raw material for the production of lubricants. More than 90% of plasticizers are used in PVC products, and demand for these items is predicted to increase significantly over the coming years. This offers a lucrative market growth opportunity for ethylene carbonate. The growing need for ethylene carbonate for the production of lithium-ion battery electrolytes for enhancing the performance and stability of the batteries is propelling market growth. Further, the expanding automotive manufacturing and use of bio-based plasticizers propel the ethylene carbonate market. On the contrary, the usage of hazardous raw materials and volatility in oil & gas prices are challenging the market growth.
The solid segment dominated the ethylene carbonate market with the largest revenue share in 2023.
Based on the form, the global ethylene carbonate market is divided into solid and liquid. Among these, the solid segment dominated the ethylene carbonate market with the largest revenue share in 2023. The transparent, crystalline solid form of ethylene carbonate is used as a cross-linking agent in the manufacturing of super absorbent polymers, gas washing, and oil field separation procedures, as well as an intermediary in the synthesis of polycarbonate diols.
The lubricants segment accounted for the largest share of the ethylene carbonate market in 2023.
Based on the application, the global ethylene carbonate market is divided into lubricants, surface coatings, lithium battery electrolyte, plasticizers, and others. Among these, the lubricants segment accounted for the largest share of the ethylene carbonate market in 2023. Ethylene carbonate is used as a lubricant to improve its performance and reduce friction and wear. The widespread use of lubricants in a variety of sectors such as the automotive, industrial, and oil & gas sectors is driving the market expansion.
The automotive segment held the largest revenue share of the ethylene carbonate market in 2023.
Based on the end-use, the global ethylene carbonate market is divided into automotive, industrial, oil & gas, medical, and others. Among these, the automotive segment held the largest revenue share of the ethylene carbonate market in 2023. The growing use of ethylene carbonate in the automotive industry especially for manufacturing components like ignition cable sets, spark plugs, and battery terminals is driving the market expansion.
Asia Pacific is projected to hold the largest share of the global ethylene carbonate market over the forecast period.
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Asia Pacific is projected to hold the largest share of the global ethylene carbonate market over the forecast period. The growing usage of ethylene carbonate in diverse end-use sectors including oil & gas, automotive, industrial, and medical is propelling the market expansion. The ongoing R&D efforts emphasize improving the performance and safety of lithium-ion batteries and other energy storage technologies which drive innovation, thereby propelling market growth.
North America is predicted to grow at the fastest CAGR in the ethylene carbonate market over the forecast period. The increasing demand for ethylene carbonate due to its increasing application in lithium battery electrolytes and lubricants is driving the market demand. The presence of major key market players in the automotive and chemical sectors contributes to propelling the market demand for ethylene carbonate.
Major key players in the ethylene carbonate market include Mitsubishi Chemical Corporation, Huntsman International LLC, TAOGOSEI CO. LTD., Shandong Shida Shenghua Chemical Group, New Japan Chemical Co. Ltd., Zibo Donghai Industries Co. Ltd., Oriental Union Chemical Corporation, FUJIFILM Wako Pure Chemical Corporation, Empower Materials, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In March 2024, Dow announced the intent to invest in ethylene derivatives capacity on the U.S. Gulf Coast, including the production of carbonate solvents, critical components to the supply chain of lithium-ion batteries.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global ethylene carbonate market based on the below-mentioned segments:
Global Ethylene Carbonate Market, By Form
- Solid
- Liquid
Global Ethylene Carbonate Market, By Application
- Lubricants
- Surface Coatings
- Lithium Battery Electrolyte
- Plasticizers
- Others
Global Ethylene Carbonate Market, By End-use
- Automotive
- Industrial
- Oil & Gas
- Medical
- Others
Global Ethylene Carbonate Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
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