Global Ethylene Carbonate Market Report, Insights, Trends, Driving Factors, Focus Points, Potential Markets, Developments, Company Share Analysis, and Forecast 2019 – 2028
Global ethylene carbonate market was valued at US$ X Mn in 2018 and is projected to reach a value of US$ X Mn 2028. The global ethylene carbonate market report is inclusive of various chapters/ sections. The first section presents the table of contents, list of tables and figures, methodology, secondary research sources from where the information is collected, and abbreviations used in the report. The next section shows a summary of the industry insights in terms of revenue share by each segment and region, along with qualitative data. The third section provides driving and growth limiting factors, key recent trends, and forecasts about opportunities for the players in the market. in addition, the next chapter or section provides region and country-wise data, followed by company profiles of prominent players in the global market. the profiling of companies include data such as their revenue, contact details, geographical presence, etc. In order to provide in-depth analysis, the market is divided on the basis of form, application, end-use industry, and region/ countries.
Product Overview: Ethylene Carbonate (EC)
Ethylene carbonate, an organic compound with formula (CH₂O)₂CO, is a colorless-yellowish crystalline solid substance, and are being used as a component with high permittivity of electrolytes in Lithium-Ion batteries. It is obtained by reaction between carbon dioxide and ethylene oxide and can be classified as carbonate ester of carbonic acid and ethylene glycol. Ethylene carbonate is high-polar solvent and has ability to dissolve huge amounts of electrolyte, and is mainly used in electrolyte solution in Lithium batteries or Lithium-Ion batteries.
Dynamics: Ethylene Carbonate Market
Increasing production and sales of electric vehicles (EVs), hybrid cars across the globe is resulting in higher demand for Lithium-Ion batteries, which in turn, is anticipated to support global ethylene carbonate market growth. In addition, rapid industrialization and increasing demand for the product from various industry verticals such as consumer electronics and automotive among other end-use industries are other factors expected to further support global market growth to some extent. Moreover, changing government policies towards use of fossil fuels, combined with offering of various subsidies for adoption of electric vehicles is resulting in need for Lithium-Ion batteries in electric four-wheelers and two-wheelers. This factor is anticipated to have a positive impact on the target market growth. Furthermore, as per the comparative study between electric vehicles and internal combustion engine vehicles conducted by the United States Council for Automotive Research LLC (USCAR) in 2012, electric vehicles emitted 62 g/km of CO2, while that for the latter type of vehicle was 187 g/km of CO2. In addition, the government of France began offering premium under the bonus-malus system (BMS) for purchase of new electric vehicles and hybrid electric vehicles from January 2016, with bonus ranging from US$ 882.4 to US$ 7412.3 based on emission levels of CO2. Rapidly growing electronics industry, combined with technological advancements in the field are expected to result in higher demand for Lithium-Ion batteries and ethylene carbonate. This is anticipated to support market growth substantially.
However, overheating of Lithium-Ion batteries and inadequate battery charging infrastructure act as major restraints for lithium battery electrolytes and is a factor that could hamper growth of the global ethylene carbonate market.
Development of a solution to avoid overheating of batteries is projected to create new revenue opportunities for Lithium-Ion battery manufacturers and indirectly for ethylene carbonate providers.
Segment Analysis: Global Ethylene Carbonate Market
On the basis of application, the lithium battery electrolytes segment is anticipated to register a significant growth rate in terms of value over the 10-year forecast period, due to rising adoption of lithium battery in electronics and electric vehicles. The lubricants segment is estimated to record considerable revenue share in the market due to high demand for lubricants from various industries including automotive industry for application in engines for cleaning and cooling engines of vehicles.
End-use Industry Insights:
On the basis of end-use industry, the automotive industry segment is anticipated to record significant share in terms of value. The electronics industry segment is projected to grow at a substantial CAGR in the market, especially in the Asia Pacific market. the industrial and medical segments are projected to witness moderately higher CAGR in the target market.
Region Analysis: Global Ethylene Carbonate Market
The market in the Asia Pacific (APAC) is anticipated to dominate in the global ethylene carbonate market in terms of value and is projected to continue with its dominant position over the next 10 years. This dominance can be attributed to growing number of government policies regarding consumption of fossil fuels and increasing adoption of electric vehicles in economies such as China, Japan, and India among other countries in APAC. In addition, increasing presence of players in automotive industry and rapid growth of electronics market in countries in this region is anticipated to further support market growth to considerable extent in this region. The market in North America is expected to witness faster growth, due to presence of major manufacturers and large number of existing players in the end-use industries in countries in North America market, and favorable government policies towards adoption of electric vehicles in the countries. Europe automotive market is growing at a significant rate, and the production and adoption of electric vehicles are rising at a faster pace. This is a key factor anticipated to fuel Europe ethylene carbonate market growth.
Global Ethylene Carbonate Market Segmentation:
Segmentation by Form:
Segmentation by Application:
- Chemical Intermediate
- Surface Coatings
- Lithium-Ion Battery Electrolytes
Segmentation by End-use Industry:
- Oil & Gas
- Personal Care and Hygiene
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Asahi Kasei Corporation
- Empowered Careers Inc.
- TCI America, Inc.
- BASF SE
- Merck KGaA
- Thermo Fisher Scientific Inc.
- Huntsman Corporation
- Oriental Union Chemical Corporation
- Mitsubishi Chemical Corporation
- Toagosei Co., Ltd.
- New Japan Chemical Co., Ltd.
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