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Oct 7, 2020 8:24 AM ET

Global Ethylene Carbonate Market Is Set To Reach Value Around USD 372 Million By 2024


iCrowd Newswire - Oct 7, 2020

Zion Market Research has published a new report titled “Ethylene Carbonate Market by Application (Surface Coatings, Plasticizers, Lithium Battery Electrolytes, and Others) and by End-Use (Automotive, Oil & Gas, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global ethylene carbonate market was valued at approximately USD 262 million in 2017 and is expected to generate around USD 372 million by 2024, at a CAGR of around 5.16% between 2018 and 2024.

Ethylene carbonate is an organic chemical compound that is available in colorless to yellowish solid form with a fruity essence. It is mostly utilized in lithium batteries as an electrolyte solution. The increase in the demand for ethylene carbonate in lithium batteries as an electrolyte solvent is the primary factor that is likely to drive the ethylene carbonate market in the years ahead. Lithium batteries are more effective in comparison to other traditional lead batteries, as lithium batteries are lighter in weight and require less power for charging. This, in turn, is fuelling the demand for lithium batteries, which is likely to fuel the ethylene carbonate market in the future. Lithium batteries are used in consumer electronics and automobiles. Ethylene carbonate has various other applications, such as it acts as a crosslinking agent in superabsorbent polymer production and as a separator in process and oil fields. These are some factors that are anticipated to contribute to the ethylene carbonate market growth over the forecast time period. However, the overheating of lithium batteries might limit the ethylene carbonate market in the future on a global scale.

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Global Ethylene Carbonate Market

By application, the ethylene carbonate market is segmented into surface coatings, plasticizers, lithium battery electrolytes, and others. Lubricants are likely to dominate the ethylene carbonate market over the forecast timeframe, due to ethylene carbonate’s usage as a synthetic lubricant stabilizer by the automobile industry. By end-use, the market includes automotive, oil and gas, medical, and others. The automotive segment is predicted to dominate the ethylene carbonate market in the upcoming years, owing to ethylene carbonate’s extensive use as a coating agent in this sector.

By region, the global ethylene carbonate market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is anticipated to register the highest growth rate in the global ethylene carbonate market. This regional growth can be attributed to an increased number of automotive and other industrial facilities across the region. The increasing demand for lubricants by the manufacturing industries is likely to further drive this regional market over the estimated timeframe. North America is predicted to offer significant growth opportunities in the global ethylene carbonate market in the future, owing to the growing consumer and public awareness about ethylene carbonate as a synthetic fiber in the upcoming years.

Some key industry players operating in the ethylene carbonate market include Asahi Kasei, Empower Materials, TCI Chemicals, BASF SE, Merck KGaA, Thermo Fisher Scientific, Huntsman Corporation, Oriental Union Chemical Corporation, Mitsubishi Chemicals, Toagosei Co., Ltd., and New Japan Chemical Co., Ltd.

This report segments the global ethylene carbonate market into:

Global Ethylene Carbonate Market: Application Analysis

Global Ethylene Carbonate Market: End-Use Analysis

Global Ethylene Carbonate Market: Regional Analysis

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Keywords:    Ethylene Carbonate Market

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