Who are the key players in Ethylene Carbonate Market?

BASF SE, Huntsman International LLC, Mitsubishi Chemical Corporation, Merck KGaA and OUCC are the major companies operating in the Ethylene Carbonate Market. Read More

Which is the fastest growing region in Ethylene Carbonate Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Ethylene Carbonate Market?

In 2024, the Asia-Pacific accounts for the largest market share in Ethylene Carbonate Market. Read More

What years does this Ethylene Carbonate Market cover, and what was the market size in 2023?

In 2023, the Ethylene Carbonate Market size was estimated at USD 0.94 billion. The report covers the Ethylene Carbonate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ethylene Carbonate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Ethylene Carbonate Market Size

Market Size of Ethylene Carbonate Industry

Study Period	2019 - 2029
Market Size (2024)	USD 1.03 Billion
Market Size (2029)	USD 1.63 Billion
CAGR (2024 - 2029)	9.58 %
Fastest Growing Market	Asia-Pacific
Largest Market	Asia-Pacific
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Ethylene Carbonate Market Analysis

The Ethylene Carbonate Market size is estimated at USD 1.03 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 9.58% during the forecast period (2024-2029).

Ethylene carbonate output and consumption have been affected by COVID-19. Due to lockdowns, production limits, and global economic recession, ethylene carbonate and other chemical demands have slowed. Ethylene carbonate and other chemicals are cheaper due to lower demand. After the pandemic, the ethylene carbonate demand increased because of lithium-ion batteries for electric cars and systems that store energy from renewable sources.

The ethylene carbonate market grew recently. With the increase in demand for electric vehicles (EV) and device manufacturing units, there is an increase in lithium battery and lithium consumption, resulting in positive growth for the ethylene carbonate market.
Over the medium term, the factors affecting the ethylene carbonate market growth include the rising number of applications for intermediates in the chemical sector and the growing need for lithium batteries in the automobile sector.
However, on the flip side, rising health hazards due to the toxicity of ethylene carbonate and replacement prospects by other substitutes are expected to hinder the market's growth.
Asia-Pacific is expected to dominate the global market due to its highly developed electronics sector and high production of lithium-ion batteries.

Ethylene Carbonate Industry Segmentation

Ethylene carbonate (C3H6O3) is an organic substance. It is a colorless, odorless, extremely polar solvent and chemical producer. Electrolyte additives like ethylene carbonate improve lithium-ion battery performance and stability. It also produces urethane plastics and cellulose derivatives as an intermediary. The ethylene carbonate market is segmented by application, end-user industry, and region. By application, the market is segmented into lithium batteries, lubricants, medical products, intermediates and agents, and other applications. By end-user industry, the market is segmented into automotive, pharmaceutical, oil and gas, and other end-user industries. The report also covers the size and forecasts for the ethylene carbonate market in 15 countries across major regions. The market sizing and forecasts for each segment are based on volume (kilotons) and revenue (USD million).

Application
		Lithium Batteries
		Lubricants
		Medical Products
		Intermediates and Agents
		Other Applications

End-user Industry
		Automotive
		Pharmaceuticals
		Oil and Gas
		Other End-user Industries

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle-East and Africa

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Ethylene Carbonate Market Size Summary

The ethylene carbonate market is poised for significant growth, driven by its critical role in the production of lithium-ion batteries, which are increasingly in demand due to the rise of electric vehicles and renewable energy storage systems. The market has shown resilience and recovery post-COVID-19 disruptions, with a surge in demand attributed to the expanding electric vehicle market and the need for energy storage solutions. Ethylene carbonate serves as a vital component in battery electrolytes, providing necessary ionic conductivity and stability, which are essential for optimal battery performance. The market's expansion is further supported by the growing applications of ethylene carbonate in the chemical sector and its use in electronic coatings, adhesives, and dielectrics. However, challenges such as health hazards related to its toxicity and potential substitutes may pose obstacles to its growth trajectory.

The Asia-Pacific region is expected to lead the global ethylene carbonate market, bolstered by its advanced electronics sector and substantial production of lithium-ion batteries, particularly in China and Japan. The region's dominance is further enhanced by government regulations promoting electric vehicles, which drive the demand for ethylene carbonate in various applications. The Japanese and South Korean electronics industries, among the largest globally, contribute significantly to this demand, with major companies like Samsung and LG spearheading advancements in consumer electronics and semiconductors. Additionally, the pharmaceutical industry in China, a rapidly expanding market, utilizes ethylene carbonate as a solvent, further augmenting its demand. The market is partially consolidated, with key players such as BASF SE, Huntsman International LLC, and Mitsubishi Chemical Corporation leading the industry, while strategic collaborations and investments continue to shape its future landscape.

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Ethylene Carbonate Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Increasing Demand from Electric Vehicle Manufacturers
  2. 1.1.2 Increasing Applications of Chemical Intermediates
2. 1.2 Restraints
  1. 1.2.1 Toxicity and Replacement Prospects by New Substitutes
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Value and Volume)
1. 2.1 Application
  1. 2.1.1 Lithium Batteries
  2. 2.1.2 Lubricants
  3. 2.1.3 Medical Products
  4. 2.1.4 Intermediates and Agents
  5. 2.1.5 Other Applications
2. 2.2 End-user Industry
  1. 2.2.1 Automotive
  2. 2.2.2 Pharmaceuticals
  3. 2.2.3 Oil and Gas
  4. 2.2.4 Other End-user Industries
3. 2.3 Geography
  1. 2.3.1 Asia-Pacific
    1. 2.3.1.1 China
    2. 2.3.1.2 India
    3. 2.3.1.3 Japan
    4. 2.3.1.4 South Korea
    5. 2.3.1.5 Rest of Asia-Pacific
  2. 2.3.2 North America
    1. 2.3.2.1 United States
    2. 2.3.2.2 Canada
    3. 2.3.2.3 Mexico
  3. 2.3.3 Europe
    1. 2.3.3.1 Germany
    2. 2.3.3.2 United Kingdom
    3. 2.3.3.3 France
    4. 2.3.3.4 Italy
    5. 2.3.3.5 Rest of Europe
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 Saudi Arabia
    2. 2.3.5.2 South Africa
    3. 2.3.5.3 Rest of Middle-East and Africa