Growing Use of Ethylene Carbonate as an Electrolyte in Lithium Batteries across the Globe is Expected to Propel the Growth of the Global Ethylene Carbonate Market

Pune, India, July 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Ethylene Carbonate Market

Market Highlights

The Global Ethylene Carbonate Market is estimated to be valued at USD 1345.8 million by 2030 and is expected to register a CAGR of 5.7% during the forecast period.

The use of ethylene carbonate as an electrolyte in lithium batteries is the primary driver of the global ethylene carbonate market. The rising demand for electric vehicles due to the stringent government regulations for environment protection is expected to propel the demand for lithium batteries, which in turn, will increase the use of ethylene carbonate electrolyte. It is employed in the removal of carbon dioxide from gaseous mixtures containing a significant amount of ethane and heavy hydrocarbons, which further drives the global market growth. Moreover, it is used for olefin separation, which further fuels its demand in the oil & gas industry.

Segment Analysis

The global ethylene carbonate market has been segregated on the basis of form, application, end-use industry, and region.

On the basis of form, the global market has been divided into liquid and solid, with the liquid segment accounting for a major market share in 2018. This is due to its widespread use in lithium-ion batteries, as a solvent for lubricants, as a crosslinking agent in the superabsorber polymer production, as well as in the separation of gas washing process and oil fields.  

By application, the market has been categorized into lithium battery electrolytes, lubricants, plasticizers, surface coatings, chemical intermediates, fiber processing agents, dyes, and others. The lithium battery electrolytes segment is projected to reach a value of USD 136,103.8 thousand during the review period. The segment’s growth is attributed to the rising demand for electric vehicles in line with the various government initiatives for environmental protection across the globe.

By end-use industry, the market has been divided into automotive, oil & gas, textile, chemical, medical, personal care & hygiene, agriculture, and others. The automotive end-use industry segment accounted for nearly 30% of the overall market share in 2018. The growth of the segment is primarily attributed to the increasing manufacturing and sale of electronic vehicles across the globe. Moreover, with the increasing environmental concern and reducing carbon emission, government across various countries are taking initiatives to promote the growth of electric vehicles.

Market Players

Market Research Future (MRFR) recognizes Huntsman International LLC (US), New Japan Chemical Co., Ltd (Japan), Mitsubishi Chemical Corporation (Japan), BASF SE (Germany), Shandong Senjie Cleantech Co., Ltd (China), Merck KGaA (Germany), Toagosei Co., Ltd (Japan), PANAX ETEC (South Korea), Zibo Donghai Industries Co., Ltd (China), OUCC (China), and Tokyo Chemical Industry Co., Ltd (Japan) as the key players in the global ethylene carbonate market.

Regional Analysis

The global ethylene carbonate market, by region, has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific dominated the global market in 2017 on account of the growth of major end-use industries in the region.

The markets in North America and Europe are projected to register a significant growth rates during the review period. The growth in both these regions is attributed to the high production and sale of electric vehicles as well as the growth of other end-use industries such as chemical, medical, and personal care & hygiene.

Key Findings of the Study:

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  Asia-Pacific accounted for the largest market share in 2017. China accounted for nearly 30% of the market share in 2017 and is projected to register a CAGR of over 8%.

  
  


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  Some of the prominent players in this market are BASF SE, Huntsman International LLC, OUCC, and Mitsubishi Chemical Corporation, among others.

  
  

Browse Full Report Details @ ethylene carbonate market