Global Vinyl Ethylene Carbonate (VEC) Market Size, Share, and COVID-19 Impact Analysis, By Grade (High Purity, Industrial, and Others), By Application (Lithium-Ion Batteries, Polymer Production, Pharmaceutical Intermediates, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Vinyl Ethylene Carbonate (VEC) Market Insights Forecasts to 2033

• The Global Vinyl Ethylene Carbonate (VEC) Market Size Was Estimated at USD 2.98 Billion in 2023
• The Global Vinyl Ethylene Carbonate (VEC) Market Size is Expected to Grow at a CAGR of around 7.67% from 2023 to 2033
• The Worldwide Vinyl Ethylene Carbonate (VEC) Market Size is Expected to Reach USD 6.24 Billion by 2033
• North America is Expected to Grow the fastest during the Forecast period.

The Global Vinyl Ethylene Carbonate (VEC) Market Size is Expected to cross USD 6.24 Billion by 2033, Growing at a CAGR of 7.67% from 2023 to 2033. High-quality chemical additives like VEC are essential for improving battery performance and longevity, and the fast growth of the electric car and renewable energy industries is one of the main opportunities in the vinyl ethylene carbonate (VEC) market.

Market Overview  

The global industry devoted to the manufacture, distribution, and usage of vinyl ethylene carbonate is known as the vinyl ethylene carbonate (VEC) market. VEC is a chemical substance that is frequently added to lithium-ion batteries to improve their longevity and performance. It is also used in coatings, adhesives, polymer synthesis, and other industrial operations. Different grades of VEC uses, and geographical areas are only a few of the market's segments. The expanding demand from emerging nations, which is being driven by fast industrialization, better infrastructure, and an increased emphasis on high-quality manufacturing, presents another noteworthy potential for the vinyl ethylene carbonate (VEC) market. Manufacturers' proactive efforts to adjust to the various quality and performance needs of various applications have greatly supported vinyl ethylene carbonate (VEC) market expansion. The growing demand from the electronics and energy storage industries, where performance and dependability spur innovation, is another factor driving the expansion of the vinyl ethylene carbonate (VEC) market.       

Report Coverage

This research report categorizes the vinyl ethylene carbonate (VEC) market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the vinyl ethylene carbonate (VEC) market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the vinyl ethylene carbonate (VEC) market.

Driving Factors

Increased demand for high-performance chemical compounds across a range of industrial sectors has supported the growth of the vinyl ethylene carbonate (VEC) market, driving its expansion over time. The growing need for lithium-ion batteries in energy storage systems and electric cars drives the worldwide vinyl ethylene carbonate market's significant expansion. The growing electronics industry and the growing use of renewable energy storage devices are driving vinyl ethylene carbonate (VEC) market growth. 

Restraining Factors

The market expansion for vinyl ethylene carbonate (VEC) can be restricted by several concerns. The most important of them is the fluctuation in the price of raw materials, which can have a big effect on manufacturing costs and, consequently, the ultimate cost of VEC products.   

Market Segmentation

The vinyl ethylene carbonate (VEC) market share is classified into grade and application.      

• The high purity segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the grade, the vinyl ethylene carbonate (VEC) market is divided into high purity, industrial, and others. Among these, the high purity segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The high-purity grade has continuously gained popularity among important end users, especially in industries like pharmaceutical intermediates and lithium-ion batteries, due to its excellent qualities and low impurities, which are essential for preserving product dependability and efficiency.    

• The lithium-ion batteries segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the application, the vinyl ethylene carbonate (VEC) market is divided into lithium-ion batteries, polymer production, pharmaceutical intermediates, and others. Among these, the lithium-ion batteries segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Applications in lithium-ion batteries are especially notable due to VEC being an essential electrolyte additive that greatly enhances battery life, stability, and performance. 

Regional Segment Analysis of the Vinyl Ethylene Carbonate (VEC) Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the vinyl ethylene carbonate (VEC) market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the vinyl ethylene carbonate (VEC) market over the predicted timeframe. The market is expanding rapidly in the Asia Pacific area as a result of the quickening pace of industrial activity, higher R&D expenditures, and encouraging government regulations meant to promote technical advancements in production methods. The region is expected to see substantial market penetration, with important economies such as China, India, and Japan emerging as major hubs for the need for industrial and high purity VEC grades.    

North America is expected to grow at the fastest CAGR growth of the vinyl ethylene carbonate (VEC) market during the forecast period. The vinyl ethylene carbonate (VEC) market is changing significantly in North America, due to smart investments in industrial infrastructure and technical breakthroughs. The lithium-ion battery segment's strong performance, which directly benefits from the better electrochemical qualities provided by premium VEC additives, provides the foundation for the region's market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the vinyl ethylene carbonate (VEC) market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• SABIC
• BASF SE
• Celanese Corporation
• DuPont de Nemours, Inc.
• Dow Chemical Company
• LyondellBasell Industries
• INEOS Group Holdings
• Mitsui Chemicals, Inc.
• Asahi Kasei Corporation
• ExxonMobil Chemical
• Evonik Industries AG
• LG Chem Ltd.
• Eastman Chemical Company
• Huntsman Corporation
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the vinyl ethylene carbonate (VEC) market based on the below-mentioned segments: 

Global Vinyl Ethylene Carbonate (VEC) Market, By Grade

• High Purity
• Industrial
• Others

Global Vinyl Ethylene Carbonate (VEC) Market, By Application

• Lithium-Ion Batteries
• Polymer Production
• Pharmaceutical Intermediates
• Others

Global Vinyl Ethylene Carbonate (VEC) Market, By 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 the Middle East & Africa