The report "Ethylene Carbonate Market by Application (Lubricants, Lithium Battery Electrolyte, Plasticizers, Surface Coatings), End-Use Industry (Automotive, Oil Gas, Industrial, Medical, Personal Care Hygiene) and Region - Global Forecast to 2027 ", size is expected to grow from USD 473 million in 2022 to USD 901 million by 2027, at a CAGR of 13.7%, during the forecast period. The major factors driving the ethylene carbonate industry include its increasing demand from the Asia Pacific and growing consumption in various applications such as lithium battery electrolytes, lubricants, coatings, and plasticizers.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=229766138
Browse in-depth TOC on "Ethylene Carbonate Market"
260 - Tables
40 - Figures
224 – Pages
Liquid form ethylene carbonate to overtake the lead in the global ethylene carbonate market during the forecast period
The ethylene carbonate industry has been segmented based on form into solid and liquid. The liquid segment accounted for the smaller share of the market in 2021. However, it is going to overtake the lead during the forecast period. The growth in this segment is attributed to the increasing demand from various applications including battery electrolytes, solvents, chemical intermediates, among others. Ethylene carbonate in liquid form is extensively used in these applications to cater end use industries such as automotive, medical, chemical, and industrial. These factors are expected to drive the demand for liquid ethylene carbonate during the forecast period.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=229766138
Lithium battery electrolytes to dominate the global ethylene carbonate market during the forecast period
The ethylene carbonate industry has been segmented based on application into lubricants, lithium battery electrolytes, plasticizers, surface coatings, and others. The lithium battery electrolytes segment is projected to hold the largest share by 2027. The growth in this segment is attributed to the increasing sales of electric vehicles across the globe. According to International Energy Agency, the global sales of electric vehicles have doubled in 2021 as compared to 2020. A similar growth trend is expected to continue during the forecast period, driving the demand for battery electrolytes, and in turn of ethylene carbonate.
Automotive end-use industry segment to dominate the global ethylene carbonate market during the forecast period
The market has been segmented based on the end-use industry into automotive, industrial, medical, oil gas, personal care hygiene, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to witness significant growth during the forecast period. This increase is attributed to increase in sales of vehicles, especially EVs. For instance, in Europe, the sales of electric vehicles in 2021 increased by 66% year-on-year, accounting for 2.3 million cars.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=229766138
Ethylene carbonate finds application in production of automotive lubricants, in protective surface coatings, and in lithium batteries as an electrolyte. Furthermore, light-weighting trend has expanded the demand of various plastics, including polycarbonate in vehicle body manufacture, leading to increasing uptake of ethylene carbonate as a plasticizer. These factors are expected to drive demand during the forecast period.
Asia Pacific is expected to have the largest market size in the global ethylene carbonate industry during the forecast period
Asia Pacific is projected to be the leading ethylene carbonate market during the forecast period. The growth in the regional market can be attributed to the rising demand for ethylene carbonate applications from various end-use industries, including industrial, automotive, and oil gas. The presence of a robust industrial base, favorable government policies for electric vehicles, and low labor costs are factors strengthening the ethylene carbonate industry and attracting major players to invest in the region.
Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan), among others, are the key players operating in the ethylene carbonate market.
For More Insights on Ethylene Carbonate Market- https://www.prnewswire.com/news-releases/ethylene-carbonate-market-worth-901-million-by-2027--exclusive-report-by-marketsandmarkets-301618048.html
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062