The demand for ethylene carbonate is driven mainly by its growing demand in various end-use industries such as automotive, medical, industrial, and personal care & hygiene.

The Ethylene Carbonate Market is projected to grow from USD 264.8 million in 2017 to USD 355.1 million by 2022, at a CAGR of 6.0% in terms of value from 2017 to 2022.

The growth of the ethylene carbonate market can be attributed to the increasing demand for ethylene carbonate across various applications, such as lithium batteries electrolytes, lubricants, coatings, and plasticizers. 

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Key players in the ethylene carbonate market are Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan). These players have established their brands. Ethylene carbonate produced by these companies is consumed domestically and is further supplied to various countries such as China, Japan, New Zealand, Australia, and others within Asia Pacific.

In 2016, Oriental Union Chemical Corporation (OUCC) accounted for the largest share in the overall ethylene carbonate market. It supplies ethylene carbonate, ethylene glycols, ethylene oxide, gas oxygen, gas nitrogen, liquid nitrogen, liquid argon, monoethanolamine, polyethylene glycol, polyoxyethylene lauryl ether, and methoxy polyethylene glycols to Taiwan and other countries in APAC. The company has a manufacturing plant in Taiwan to supply ethylene carbonate across various end-use industries of the country.

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By region, the ethylene carbonate market in Asia Pacific is projected to grow at the highest CAGR between 2017 and 2022. Asia Pacific is the leader in terms of consumption of ethylene carbonate. The increasing demand for lithium battery electrolyte, plasticizers, and surface coating-based products from China, South Korea, Taiwan, and Japan is a key driver of the market in the region. The increasing demand for surface coatings and lubricants from oil & gas, industrial, and automotive industries and rising investments in establishing manufacturing facilities of ethylene carbonate are expected to drive the market for ethylene carbonate in this region.  

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