GAITHERSBURG, Md., July 25, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Ethylene Carbonate Market is accounted for $272.99 million in 2018 and is expected to reach $550.26 million by 2027 growing at a CAGR of 8.1% during the forecast period.
Some of the key players in ethylene carbonate market include Merck KGaA, Empower Materials Inc., FUJIFILM Holdings Corp., Thermo Fisher Scientific Inc., Mitsubishi Chemical, Huntsman, BASF SE, Oriental Union Chemical Corporation, Toagosei Co., Ltd, Asahi Kasei, New Japan Chemical, Alfa Aesar, Alchem Chemical Company, Zibo Donghai Industries, and TCI Chemicals.
Some of the key factors propelling the market growth include growing demand for lubricants & lithium ion battery in automobile and electronic industries, rapid urbanization, increasing shift towards the use of electric vehicles, and increasing applications for chemical intermediates. However, volatility in raw material prices is restraining the market growth.
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Ethylene carbonate is an organic chemical compound that is available in colorless to yellowish solid form with a fruity essence. The compound is basically an ester of carbonic acid and ethylene glycol. It is created by a chemical reaction between carbon dioxide and ethylene oxide. Ethylene carbonate is mostly utilized in lithium batteries as an electrolyte solution. Furthermore, it possesses better solubility, higher polarity, and a higher boiling point when compared to other traditionally used solvents.
By end user, the automotive segment accounted is expected to witness significant growth during the forecast period, due to different requirements by manufacturers, such as reduced emissions of volatile organic compounds (VOCs) and durable protective surface coating on vehicles. The motorization rate has increased over the last five years because of the rise in the disposable income of people and industrial growth across the globe.
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On the basis of geography, APAC is the significant-growing ethylene carbonate market during the forecast period, due to its rising usage in various end-use industries, such as oil & gas, automotive, industrial, and medical. Furthermore, the growing population, rising disposable income and economic growth in China and Taiwan are augmenting the market growth. Increased environmental awareness among people and various government subsidies provided to curb environmental issues may drive the electric car sales in the region.
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- Low Purity (<96%)
- High Purity (>99%)
- Medium Purity (96 to 99%)
- Surface Coatings
- Lithium-Ion Battery Electrolytes
- Chemical Intermediates
- Fiber Processing Agents
- Gas Washing
- Oil Field
- Syntesis of Polycarbonate Diol
- Photochromatic applications
- Super Absorber
- Other Applications
End Users Covered:
- Oil & Gas
- Industrial Sector
- Personal Care & Hygiene
- Power and Energy
- Water and Waste Water Treatment
- Consumer Products
- North America
- Asia Pacific
- South America
- Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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