Propylene carbonate (PC) is a colorless, liquid organic compound produced by the reaction of carbon dioxide and propylene oxide. It is a polar solvent with a molecular weight of 102.089 g/mol and molecular formula C4H6O3. Its IUPAC name is 4-methyl-1,3-dioxolan-2-one and boiling point ranges between 235°C and 245 0°C. It possesses properties such as non-corrosiveness, low decomposition temperature, and superior adhesion. Moreover, it has high flash points and serves as a superior oxygen barrier. For asymmetric hydrogenation of nonfunctionalized olefins, propylene carbonate is used as a solvent. By using transesterification process, propylene carbonate can be converted into carbonate esters.
Propylene is widely used in lithium-ion batteries to offer enhanced polarity by creating a solvation shell for lithium ions. In addition, it is used for manufacturing of cosmetic products such as lipsticks, mascara, eye shadow, and others. Storage of propylene carbonate is easy, as it is stable under normal storage conditions. As propylene carbonate is listed in the Environment Protection Agency Safer Chemicals Ingredients List, it can be used in various end-use industries such as personal care, pharmaceuticals, paints & coatings, and others.
Factors such as surge in use of propylene carbonate in industrial processes, increase in demand from paints & coatings & personal care industries, and rise in infrastructure development projects in emerging economies are driving the growth of the global propylene carbonate market. However, high cost, low mechanical property, flammable characteristics, and implementation of stringent regulations for usage & manufacture of flammable liquids are restraining the growth of the market. Conversely, surge in demand for lithium batteries and increase in demand for green energy are expected to offer remunerative opportunity or market expansion in the near future.
Global propylene carbonate market is segmented into application, end-use industry, and region. By application, the market is classified into solvent, catalyst, electrolyte, additives, cleaner, and others. According to end-use industry, it categorized into cosmetic & personal care, paints & coatings, pharmaceuticals, textile, energy & power, mining, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global propylene carbonate market are BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings B.V., Empower Materials, Anmol Chemicals Group, Kowa India Pvt. Ltd., ReactChem Co. Ltd., Shenghua Group Holdings Co. Ltd., Taixing Fengming Chemical, and Lixing Chemical. These players have adopted various strategies such as acquisitions, partnerships, collaboration, joint ventures, agreements, expansions, and new product launches to create a strong consumer base in the market.
KEY BENEFITS FOR STAKEHOLDERS
- The propylene carbonate market size has been analyzed across all regions.
- Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The propylene carbonate market report outlines the current market trends and future scenario of the market size to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
- The propylene carbonate market analysis covers in-depth information of major industry participants.
Propylene Carbonate Market Report Highlights
| Aspects | Details |
 By FORM |
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 By APPLICATION |
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 By Region |
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 Key Market Players | Anmol Chemicals Group, Empower Materials, LyondellBasell Industries Holdings B.V., Huntsman International LLC., Shenghua Group Holdings Co. Ltd., Lixing Chemical, Taixing Fengming Chemical, BASF SE, ReactChem Co. Ltd., Kowa India Pvt.Ltd. |
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