Ethylene Carbonate Market Size Expected to Grow CAGR of 6% By 2028 | Reports and Data
According to the current analysis of Reports and Data, the global Ethylene Carbonate market was valued at USD 0.28 Billion in 2020 and is expected to reach USD 493.2 Million by year 2028, at a CAGR of 6%. The study covers the genre of chemicals and materials with special focus on the ethylene carbonate market. Ethylene Carbonate is an organic compound that holds the capacity of dissolving large amounts of electrolytes. It is a highly polar solvent in nature. The compound is said to have a melting point at a temperature of 39.5°C and a boiling point of 248°C. The compound can be used in various industries such as, automotive, oil and gas, medical etc. The continuous research and development to expand the domains of application of ethylene carbonates has been one of the factors propelling the market and increasing its demand. The rising demand for lithium batteries electrolytes are accelerating the demand for ethylene carbonates in the market. In addition the government policies about the fuel economy is 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 market.
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The key players of the market include Mitsubishi Chemicals, BASF SE, Huntsman, Asahi Kasei and Toagosei Co. Ltd.
Further key findings from the report suggest
- Ethylene Carbonate is a highly polar solvent featuring high boiling point (up to a temperature of 248°C), low toxicity, no odor and high solubility for polymers are the key properties that make it an ideal solvent and therefore, an attractive option to several industries.
- One unique property of Ethylene Carbonate is that it is an organic, highly aprotic solvent. This feature boosts the demand for this compound in several industries as they require compounds that do not have a hydrogen atom bound to either oxygen, nitrogen or fluorine.
- The versatility of application in the several industries such as automotive, personal care, oil and gas etc. has spiraled the demand for ethylene carbonate market. This is the key factor driving the demand.
- Lithium battery electrolytes dominate the market as there is a rising demand for high power and energy in batteries. This rise in the demand for lithium batteries electrolytes is accelerating the demand for ethylene carbonates in the market. It continues to grow at a CAGR of 6.3%. The rising demand for lithium battery electrolytes is one of the major factors propelling the market.
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Form (Revenue, USD Million; 2020–2028)
Application (Revenue, USD Million; 2020–2028)
- Lithium Battery Electrolytes
- Photochromatic applications
- Medical products
End Use (Revenue, USD Million; 2020–2028)
- Oil and Gas
- Personal Care
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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