Ethylene Carbonate Market Analysis 2019, Market Size, Share, Growth, Demand & Forecast To 2024
Ethylene Carbonate Market Insights
Ethylene Carbonate is a cyclic chemical compound which is manufactured by reaction between ethylene oxide and carbon dioxide. It is an organic compound with fruity odor and has colorless to yellowish solid color. This carbonate ester is a highly polar solvent and dissolves large amount of electrolyte, largely used in lithium-ion batteries. They possess high boiling point, high polarity, and superior solubility, which makes it an ideal solvent for coating, dyes, plasticizer, among others.
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Based on form, the Global Ethylene Carbonate Market has been segmented into liquid and solid. The liquid form segment dominated the market in 2020 and is expected to register for the highest CAGR in the coming years due to the growing consumption for the product in lithium battery electrolytes, fiber processing agents; and solvents in coatings and dyes.
Market Segmentation
The Global Ethylene Carbonate Market has been segmented on the basis of form, purity, application, end-use industry, and region.
On the basis of form, the global ethylene carbonate market has been bifurcated into solid and liquid.
By purity, the global ethylene carbonate market has been categorized divided into high purity (>99%), medium purity (96 to 99%), and low purity (<96%).
Based on application, the global ethylene carbonate market has been classified lithium battery electrolytes, lubricants, plasticizers, surface coatings, chemical intermediate, fiber processing agents, dyes, and others.
On the basis of end-use industry, the global ethylene carbonate market has been divided into automotive, oil & gas, medical, personal care & hygiene, chemical, textile, and others
The Global Ethylene Carbonate Market has been spanned across five major regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Key players:
- OUCC
- BASF SE
- Mitsubishi Chemical Corporation
- Huntsman International LLC
- TOAGOSEI CO.LTD.
- New Japan Chemical Co.Ltd.
- Zibo Donghai Industries Co.,Ltd.
- Shandong Senjie Cleantech Co.Ltd
- Alchem Chemical Company
- Merck KGaA
- PANAX ETEC
Regional Analysis
Geographically, the Global Ethylene Carbonate Market has been segmented into five major regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Asia-Pacific market accounted for the largest market share in 2017 and is expected to be the fastest-growing market during the review period. This is attributed to the growing automotive industry and the presence of major manufacturing companies such as OUCC, TOAGOSEI CO., LTD., Mitsubishi Chemical Corporation, Zibo Donghai Industries Co.,Ltd., and PANAX ETEC. Surging demand for the product in lubricants and coatings in automotive industry; and growing industrialization are further anticipated to propel the regional market growth. China is the prominent country in the region owing to large consumer base and growing consumption of the product in lithium battery electrolytes in electric vehicles. India, Taiwan, Japan, and South Korea are other regional contributors.
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The North American market accounted for the second-largest market share in 2017 and is anticipated to register a significant CAGR in the coming years. This is attributed to the growing awareness of public towards use of ethylene carbonate in synthetic fibers. The US is the major contributor in the region owing to the growing product innovation and due to the presence of key manufacturing companies such as Huntsman International LLC and Alchem Chemical Company serving the product in the automotive and textile industry.
The European market held a substantial market share in 2017 and is expected to witness a healthy CAGR in the following years owing to the signficant demand for the product as lubricants and surface coatings in automotive industry. Germany is the leading country in the region which is followed by France, Italy, the UK, and Russia. This is attributed to the rising R&D facilities for bio-based plasticizers and strong automotive base in the country.
The Latin American market held a moderate market share in 2017 and is likely to register a steady CAGR in the coming years owing to the high consumption of the product in personal care and hygiene industry. Brazil is the leading country in the region followed by Mexico and Argentina due to the growing demand for the product in medical and personal care products.
The Middle East & Africa market accounted for a considerable market share in 2017 and is anticipated to grow at a moderate CAGR in the coming years owing to the growing consumption of the product in oil and gas industry. UAE and Saudi Arabia are the major countries contributing to the regional market growth.