Ethylene Carbonate Market Size, Share, Growth, And Industry Analysis By Type (Industrial Grade EC, Battery Grade EC) By Application (Lithium Battery Electrolytes, Intermediates and Agents, Plastics, Other), Regional Insights, and Forecast To 2032

Updated On: 01 April 2024

Ethylene Carbonate Market Report Overview

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The global ethylene carbonate market size was USD 308.5 million in 2022 and market is projected to touch USD 704 million by 2032, exhibiting a CAGR of 8.6% during the forecast period.

Ethylene carbonate is significantly polar dissolvable including high limit, low destructiveness, no fragrance, and high dissolvability for polymers. Furthermore, being especially polar, its permittivity is high. As ethylene carbonate is significantly polar dissolvable and breaks down immense proportion of electrolyte, it is dominatingly used in lithium batteries electrolyte plan. It can in like manner speedily separate polymers provoking use as a conveyance-trained professional and cleaning agent. Our thing is brilliant with low contamination levels and low toxicity. It has acquired reputation for adherence to the serious quality standards mentioned by our clients.

COVID-19 Impact: Transportation Tampered Reduced The Vehicle Production

Due to global restrictions, the Covid-19 epidemic has had a severe influence on market growth. Among these, the automotive industry has suffered tremendously as a result of showroom closures as well as transportation and supply chain constraints. Furthermore, as a result of the lockdowns, demand for personal and commercial automobiles has been severely reduced. Additionally, the Covid-19 outbreak damaged the industry by cancelling consumer intentions to purchase cars and vehicles.

Latest Trends

"Growing Trend Of Electric Vehicle Boosting The Ethylene Carbonate Market Growth "

Overall, lithium-particle batteries are increasingly using ethylene carbonate as their electrolytes. Modern lithium-ion batteries (LIBs) consist of a graphite anode, a lithium metal oxide cathode, and an electrolyte solution doped with lithium, such as lithium hexafluorophosphate, in a blended natural dissolvable, which is frequently ethylene carbonate. The growth of intriguing new fields with both industrial and commercial applications has raised the demand for lithium-ion batteries. Recent years have seen an increase in demand for lithium-ion batteries, particularly in emerging markets, from the data center and material handling industries. During the forecast period, these factors are projected to boost the ethylene carbonate market.

Ethylene Carbonate Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Industrial Grade EC, Battery Grade EC. Industrial Grade is the leading market segment by type analysis.

• By Application Analysis

Based on application, the market can be divided into Lithium Battery Electrolytes, Intermediates and Agents, Plastics, Other. Lithium Battery Electrolytes is the leading market segment by application analysis.

Driving Factors

"Energy Storage Capacity Of Lithium-Sulfur Batteries Is Driving The Ethylene Carbonate Market Upwards"

Several methods result in the creation of low-cost, environmentally friendly, and highly efficient alternatives. Lithium-ion batteries are notable for their features; nevertheless, they are scarce for specific uses, such as transportation and power grid applications, opening a new road to investigate the possibilities of lithium-sulfur batteries. The energy storage capacity of lithium-sulfur batteries is driving market demand since it offers a significant improvement in energy storage capacity over lithium-ion batteries. When compared to lithium-ion batteries, they are regarded next-generation electric vehicle batteries since they have readily available Sulphur cathode and have a minimal hazardous effect on the environment, which has driven the need for ethylene carbonate in lithium-sulfur batteries.

Changing lifestyles and growing standards of living have spurred the growth of the automobile industry, resulting in increased lubricant demand, which has fueled market expansion. Furthermore, environmental concerns such as the strict emission of pollutants have increased demand for electric vehicles, fueling the expansion of ethylene carbonate.

Mobile phones, tablets, and medical equipment all require lithium ions. As a result, a surge in the manufacture and sales of these devices has also fueled the expansion of the ethylene carbonate market.

Restraining Factors

"Volatility In The Prices Restricting The Market Growth"

Ethylene is a fundamental component and a fundamental building block for several applications across numerous end-use industries. It is produced using a range of feedstock of petrochemical origins. The pricing and accessibility of raw materials have a significant impact on the final product's cost structure. The majority of raw materials are derivatives made from crude oil, which are subject to fluctuating commodity prices. As a result, the price of ethylene carbonate's raw materials fluctuates. risks related to taking ethylene carbonate for various health issues. When exposed, it can seriously harm the skin and eyes. Acids, ketones, aldehydes, carbon dioxide, and carbon monoxide, all of which are dangerous, are released when ethylene carbonate is burned. Such challenges can hinder market growth.

Ethylene Carbonate Market Regional Insights

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"Rising Government Limits On Combustion Engines In Asia Giving Rise To The EV Market"

Asia Pacific is anticipated to lead the market because of its exceptionally evolved gadgets area and enormous assembling of lithium-particle batteries in China and Japan, as well as continuous interests in the locale to upgrade lithium innovation throughout the long term. Moreover, rising government limits on burning motors in Asia have expanded the market for different electric vehicles in China, Japan, and India, driving up interest for ethylene carbonate in various applications. As per Japan's Service of Economy, Exchange, and Industry (METI), Japanese organizations have ruled the lithium-particle battery creation industry as of late.

These batteries are as of now utilized in gadgets and vehicles. Ethylene carbonate is a moderate that is likewise utilized in prescriptions and compound applications to make various meds and substance arrangements. China is the world's second-biggest drug market. The drug market is extending quick because of the nation's developing working class and maturing populace, rising profit, and expanding urbanization. As per Statistics and Monetary Data Community Information (CEIC), drug pay in China in September 2021 was CNY 2,374,060 million, up from CNY 2,090,150 million in August 2021. All of the previously mentioned causes are projected to support ethylene carbonate interest in the district before very long.

North America is viewed as one of the essential item showcases in light of the fact that, of the presence of colossal firms in the auto and synthetic areas. Vehicle use has consistently expanded in North America during the earlier ten years. This is driving up the cost of ethylene carbonate. Besides, during the main quarter of 2022, there was a huge interest for

EV vehicles in the US, which is anticipated to gainfully affect the worldwide market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• BASF (Germany)
• Mitsubishi (Japan)
• TOAGOSEI (Japan)
• Huntsman (U.S.)
• OUCC (China)
• Lixing Chemical (China)
• Fujian Zhongke Hongye Chemical (China)
• Haike Group (China)
• Shandong Shida Shenghua (China)
• Liaoning Ganglong Chemical (China)
• Hengyang New Energy (China)
• Aoke Konggu Group (India)

 Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.