According to the current analysis of Reports and Data, the global Ethylene Carbonate market was valued at USD 0.28 Billion in 2020 and is expected to reach USD 493.2 Million by year 2028, at a CAGR of 6%. The study covers the genre of chemicals and materials with special focus on the ethylene carbonate market. Ethylene Carbonate is an organic compound that holds the capacity of dissolving large amounts of electrolytes. It is a highly polar solvent in nature. The compound is said to have a melting point at a temperature of 39.5°C and a boiling point of 248°C. The compound can be used in various industries such as, automotive, oil and gas, medical etc. The continuous research and development to expand the domains of application of ethylene carbonates has been one of the factors propelling the market and increasing its demand. The rising demand for lithium batteries electrolytes are accelerating the demand for ethylene carbonates in the market.
Leading Players– Mitsubishi Chemicals, BASF SE, Huntsman, Asahi Kasei and Toagosei Co. Ltd.
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Further key findings from the report suggest
Ethylene Carbonate is a highly polar solvent featuring high boiling point (up to a temperature of 248°C), low toxicity, no odor and high solubility for polymers are the key properties that make it an ideal solvent and therefore, an attractive option to several industries.
One unique property of Ethylene Carbonate is that it is an organic, highly aprotic solvent. This feature boosts the demand for this compound in several industries as they require compounds that do not have a hydrogen atom bound to either oxygen, nitrogen or fluorine.
The versatility of application in the several industries such as automotive, personal care, oil and gas etc. has spiraled the demand for ethylene carbonate market. This is the key factor driving the demand.
Lithium battery electrolytes dominate the market as there is a rising demand for high power and energy in batteries. This rise in the demand for lithium batteries electrolytes is accelerating the demand for ethylene carbonates in the market. It continues to grow at a CAGR of 6.3%. The rising demand for lithium battery electrolytes is one of the major factors propelling the market.
The continuous research and development to expand the domains of application of ethylene carbonates has significantly propelled the market, increasing its demand.
Despite the several factors driving the market, factors such as the scarcity of raw materials as well as regulations on the use of ethylene carbonate in various industries, are some of the major restraining factors affecting the growth of this market.
Asia Pacific dominates the market due to the growth in the oil and gas and automotive industries. It holds a market share of 41.8%. An exponential rise in the population in emerging countries such as China is held responsible for this rise in the market demand. The region continues to grow at a CAGR as high as 6.3%.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Form (Revenue, USD Million; 2020–2028)
Application (Revenue, USD Million; 2020–2028)
Lithium Battery Electrolytes
Frequently Asked Questions Addressed in the Report:
What is the estimated market revenue growth over the forecast period?
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