ETHYLENE CARBONATE MARKET TO REACH USD 476 MILLION BY 2027 | CAGR 5.4% – FORENCIS RESEARCH

Global Ethylene Carbonate Market: Key Highlights

• According to the new market research report “Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Plasticizers, Surface Coatings, Chemical Intermediates, Fiber Processing Agents), by End-User Industry (Automotive Industry, Oil & Gas Industry, Personal Care & Hygiene Industry, Industrial Sector, Medical Industry), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Ethylene Carbonate market is estimated to reach USD 476 Million by 2027 at a CAGR of around 5.4% during the review period.
• Ethylene carbonate is a highly polar solvent featuring high boiling point, low toxicity, no odor, and high solubility for polymers
• The demand for ethylene carbonate is driven mainly by its growing demand in various end-use industries such as automotive, medical, industrial, and personal care & hygiene
• The Asia-Pacific region is the largest and fastest-growing ethylene carbonate market
• However, fluctuations in raw material prices remain a major restraining factor for the growth of the ethylene carbonate market

Global Ethylene Carbonate Market: Key Market Dynamics

• The global ethylene carbonate market is majorly driven by the extensive use of ethylene carbonate as an electrolyte in lithium-ion batteries
• Rapid urbanization and increasing standard of living has led to the growth of automobile industry are also some factors that boosting the ethylene carbonate market
• Volatility in raw material prices remains a major threat to the market growth

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Global Ethylene Carbonate Market: Regional Overview

• Asia-Pacific

The Asia-Pacific is expected to dominate the global ethylene carbonate market in terms of both volume and value. Moreover, this region is expected to grow at the highest CAGR during the forecasted period. This growth can be attributed to the increasing usage in various end-use industries, such as oil & gas, automotive, industrial, and medical. Moreover, the growing population, rising disposable income, and economic growth in China, India, and Taiwan are augmenting market growth.

Global Ethylene Carbonate Market: Key Players Overview

• BASF SE.:

BASF SE is one of the leading chemical company across the globe. The company operates through six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. The Industrial Solutions segment consists of Dispersions & Pigments and Performance Chemicals divisions. In September 2019, BASF SE expanded his integrated ethylene oxide and derivatives facilities. For this expansion, BASF invested around 592 to add 400,000 metric tons per year of production capacity.

• Huntsman International LLC:

Huntsman International LLC is engaged in manufacturing the differentiated organic and inorganic chemical products. The company majorly operates through five business segments including polyurethanes, performance products, advanced materials, textile effects and pigments and additives. Huntsman International LLC’s product found a wide range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, electronics, medical, packaging, paints and coatings, power generation, refining, synthetic fiber, textile chemicals and dye industries. The company has a global reach with its services in around 30 countries.

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