The latest research study “Ethylene Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global ethylene carbonate market size reached US$ 292.3 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 412.53 Million by 2027 exhibiting a CAGR of 5.70% during 2022-2027.
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Ethylene carbonate (C3H4O3) refers to a polar solvent with a high boiling point and low toxicity. It is available in solid and liquid forms. Ethylene carbonate compound is soluble in water and readily dissolve polymers. It forms a soluble salt by bonding with particles and rust found in oil and gas wells and complexing the metal ions.
Ethylene carbonate is used in lithium battery electrolytes, fiber processing agents, capacitor electrolytes, lubricants, soil hardening agents, raw material for organic synthesis, medical products, etc. Consequently, it finds extensive applications across several sectors, including automotive, oil and gas, pharmaceutical, personal care and hygiene, textile, etc.
Ethylene Carbonate Market Trends and Drivers:
The increasing utilization of lithium-ion batteries in electric vehicles (EVs), owing to their energy efficiency, power-to-weight ratio, high-temperature performance, and low self-discharge advantage, is among the key factors driving the ethylene carbonate market.
Besides this, the elevating adoption of the compound as a plasticizer and precursor for producing polymers and organic synthesis and as a release agent and detergent is acting as another significant growth-inducing factor. Moreover, the inflating investments in research and development activities by leading manufacturers of lithium-ion batteries to introduce new cooling systems are also positively influencing the market growth.
Additionally, the growing product usage in the gas washing process to remove contaminants from product gas and in photochromic treatments to improve the visual acuity of individuals are anticipated to fuel the ethylene carbonate market in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Form:
- Solid
- Liquid
Breakup by Application:
- Lubricants
- Surface Coatings
- Plasticizers
- Lithium Battery Electrolytes
- Others
Breakup by End Use Industry:
- Automotive
- Oil & Gas
- Pharmaceutical
- Others
By Geography:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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List of Major Key Players:
The major players in the market are
- BASF SE
- FUJIFILM Wako Pure Chemical Corporation
- Huntsman Corporation
- Merck KGaA
- Mitsubishi Chemical Holdings Corporation
- Otto Chemie Private Limited
- Shandong Senjie Cleantech Co. Ltd.
- Thermo Fisher Scientific
- Toagosei Co. Ltd.
- Tokyo Chemical Industry Co. Ltd
- Vizag Chemicals International
- Zhengzhou Meiya Chemical Products Co. Ltd.
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