Ethylene Carbonate Market Outlook - 2027
The ethylene carbonate market was valued at $288.0 million in 2019, and is anticipated to generate $418.5 million by 2027. The market is projected to experience growth at a CAGR of 6.0% from 2020 to 2027.
As ethylene carbonate is a highly polar solvent and dissolves large amount of electrolyte, it is mainly used in lithium batteries electrolyte solution. It can also readily dissolve polymers leading to use as a release agent and detergent. Its product is high quality with low impurity levels and low moisture. It has earned an excellent reputation for adherence to the strict quality standards.
Rapid urbanization and increase in standard of living has led to the growth of the automobile industry. Growth in automobile sector has resulted in increased demand of lubricants, as ethylene carbonate is used as a solvent in lubricants, which further foster the ethylene carbonate market demand. Lithium ion batteries are prominently used in electric cars; their light weight and less charging time make them more efficient than conventional lead batteries. Increasing demand of electric vehicle will eventually foster the ethylene carbonate market growth. Lithium ion batteries are widely used in electronic gadgets like mobile phones, tablets, and medical equipment.
The key players operating in the market are Asahi Kasei Corp., BASF SE, Cole-Parmer Instrument Company, LLC., Empower Materials, Huntsman Corporation, Merck KGaA, Mitsubishi Chemicals, Prasol Chemicals Lts, Thermo Fisher Scientific, and Vizag Chemicals International. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition. The market players are also investing largely into R&D activities, owing to increase in population that directly escalates the demand for energy.
By Form
Solid is projected as the most lucrative segment.
Ethylene carbonate market, by form
By form, the market is divided into solid and liquid. The solid segment dominated the market in 2019. However, the liquid segment is expected to grow at a higher pace during the forecast period, owing to the extensive use of ethylene carbonate as an electrolyte in lithium-ion batteries.
By Application
Lubricants is projected as the most lucrative segment.
Ethylene carbonate market, by application
By application, the market is divided into lubricants, surface coatings, plasticizers, lithium battery electrolytes, and others. The lubricants segment dominated the market in 2019 owing to wide use in automotive industry. However, the lithium battery electrolytes segment is expected to grow at a higher pace during the forecast period, owing to increase in use of electric vehicles and shifting focus towards clean energy for reducing carbon emissions.
By End-use
Automotive is projected as the most lucrative segment.
Ethylene carbonate market, by end-use
By end-use, the market is divided into automotive, oil & gas, medical, and others. The oil & gas segment dominated the market share in 2019 owing to their wide application as solvents and lubricants. However, the automotive segment is expected to grow at a higher CAGR during the forecast period due to electrification in the sector boosting the lithium battery electrolytes, further boosting market growth.
By Region
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Ethylene carbonate market, by region
By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019 owing to presence of large corporations engaged in the automotive and chemical sector. However, Asia-Pacific is expected to grow at a higher pace during the forecast period owing to increased automotive sector and rise in the electric vehicle industry.
Key benefits for stakeholders
- The report provides in-depth analysis of the market along with the current & future trends to explain the imminent investment pockets.
- This report highlights the key drivers, opportunities, and restraints of the ethylene carbonate market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the ethylene carbonate market for strategy building.
- A comprehensive analysis of the factors that drive and restrain the market growth is provided.
- The qualitative data in this report aims at the ethylene carbonate market trends, dynamics, and developments.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable ethylene carbonate market share.
Ethylene Carbonate Market Report Highlights
| Aspects | Details |
 By Form |
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 By Application |
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 By End Use |
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 By Region |
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 Key Market Players | Empower Materials, Inc., MERCK KGaA, Cole-Parmer Instrument Company, LLC., Vizag Chemicals International, Thermo Fisher Scientific Inc., Prasol Chemicals Ltd., Asahi Kasei Corp., Mitsubishi Chemical Holdings, BASF SE, Huntsman Corporation |
Analyst Review
Ethylene carbonate market is expected to witness a steady growth during the forecast years as it is used in lithium ion batteries, lubricants, and plasticizer, as an intermediate in the synthesis of polycarbonate diols and as a precursor to vinylene carbonate, which is used in polymers and organic synthesis. Increasing demand for lubricants and lithium ion battery in automobile and electronic industries may drive the overall ethylene carbonate market share. Ethylene carbonate has various other applications, such as it acts as a crosslinking agent in superabsorbent polymer production, as a solvent for lubricants, as an intermediate in the synthesis of polycarbonate, and as a separator in process and oil fields. In addition, the government policies about the fuel economy are rising the demand for lithium-ion batteries. This has been a key factor for the rise in the demand. The versatility of application is one of the main factors propelling the ethylene carbonate market.
The growing demand for lithium batteries electrolytes are accelerating the demand for ethylene carbonates in the industry. The growing change towards the use of electric vehicles is due to the benefits such as cost-effectiveness, easy maintenance, reduced fuel prices, as well as fuel-efficiency.
The market value of ethylene carbonate in the forecast period is anticipated to be $ 418.5 Million.
BASF SE, Cole-Parmer Instrument Company, LLC., Empower Materials, Huntsman Corporation, Merck KGaA, Mitsubishi Chemicals, Prasol Chemicals Lts, and Thermo Fisher Scientific are the top companies in the ethylene carbonate industry.
Asia-Pacific region is holding the highest share in this market.
Form segment is the leading segment in the market
The global ethylene carbonate market is majorly driven by the extensive use of ethylene carbonate as an electrolyte in lithium-ion batteries
lubricants is the largest application in the global ethylene carbonate.
The COVID-19 pandemic has impacted the ethylene carbonate market in a negative way. The lockdowns led to shutdown of major industrial activities including, automotive, oil & gas, aerospace, chemicals, plastics, and textiles manufacturing. This has led to slow-down in growth of the ethylene carbonate market.
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