The global 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.
Browse 104 tables and 33 figures spread through 122 pages and in-depth TOC on "Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Plasticizers, Surface Coatings), End-Use Industry (Automotive, Oil & Gas, Industrial, Medical, Personal Care & Hygiene), and Region - Global Forecast to 2027".
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Asia Pacific is projected to lead the global methacrylate monomers market during the forecast period.
Asia Pacific is projected to be the largest market for ethylene carbonate during the forecast period. Asia Pacific has emerged as the leading customer of ethylene carbonate, owing to the increasing demand from various applications in the region, increasing disposable income, and easy access to raw materials due to efficient distribution channels. The growth of the ethylene carbonate market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fuelled by rising investments to establish manufacturing facilities for ethylene carbonate in the country. The growth of oil & gas, industrial, and automotive industries is also driving the market for ethylene carbonate in this region.
By end-use industry, the automotive segment of the ethylene carbonate market is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for lithium battery electrolyte in electric vehicles. In addition, initiatives taken by government bodies to encourage electric vehicles is a major factor contributing to the growth of the automotive industry.
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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.
Technological advancements in the end-use industries are fuelling the demand for ethylene carbonate in North America and Europe. End-use industries, such as automotive and manufacturing are benefited from the development of various applications such as lithium battery electrolyte and lubricants stabilizers in terms of increasing the efficiency of vehicles and equipment used in these industries.
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