Propylene Carbonate Companies

Propylene Carbonate Market

The propylene carbonate market is a dynamic and promising space with strong growth potential. Understanding the competitive landscape, key strategies, and recent developments is crucial for companies to navigate this exciting market and capitalize on its opportunities. As the demand for sustainable and efficient chemicals continues to rise, propylene carbonate is poised to play a vital role in the transition towards a greener future.

Strategies Defining the Battleground:

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  Product Diversification: Leading players like Asahi Kasei and Hunan Yetop are expanding their offerings beyond standard PC to include high-purity grades for sensitive battery applications and specialty PC derivatives with enhanced functionalities.


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  Backward Integration: Securing reliable and cost-effective propylene feedstock is vital. Companies like Zhejiang Huate Chemical and Ningbo Innopharmchem are investing in propylene oxide (PO) production facilities to gain control over the supply chain.


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  Regional Expansion: With EV adoption rising in Asia and Europe, companies like Lotte Chemical and Mitsubishi Chemical are establishing production plants closer to these key markets.


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  Technological Innovation: R&D efforts are aimed at developing sustainable production processes, improving PC purity, and exploring alternative feedstocks like bio-based propylene. This is evident in initiatives by companies like SK Nexilis and Yancheng Fengning Chemical.


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  Partnerships and Acquisitions: Collaborations and acquisitions are accelerating technology transfer and market share expansion. For instance, BASF partnered with Hunan Yetop for PC production in China, while Dow Chemical acquired Zhejiang Huate Chemical to strengthen its PC foothold.

Factors Shaping Market Share:

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  Production Capacity: Companies with large-scale production facilities like Olin Corporation and Mitsui Chemicals enjoy economies of scale and a cost advantage.


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  Quality and Consistency: Meeting stringent battery-grade PC specifications is crucial. Players with established reputations for high-quality products, like Ube Industries and Asahi Kasei, command premium pricing and attract major battery manufacturers.


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  Sustainability Credentials: Consumers and regulators are increasingly prioritizing green practices. Companies adopting eco-friendly production processes and using recycled feedstocks, like Covestro and Lanxess, gain a competitive edge.


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  Customer Relationships: Building strong partnerships with battery manufacturers and EV makers through long-term contracts and technical support fosters loyalty and market share growth.

Key Companies in the Propylene Carbonate market include

• LyondellBasell Industries


• Shandong Depu Chemical


• BASF


• Empower Materials


• Shida Shenghua Chemical


• Daze Group


• Huntsman Corporation


• AVX Corporation


• MegaChem Ltd


• Hi-Tech Spring Chemical

Recent Developments

July 2021: AVX Corporation introduced a new series of standard and custom supercapacitors based on propylene carbonate electrolyte technology, which has been demonstrated to be safe and effective in energy storage applications such as lithium-ion batteries.

August 2023: Eastman Chemical announced that it had signed a contract to supply propylene carbonate to Tesla for use in its electric vehicles. The contract is for a multi-year term and includes a commitment to purchase a significant amount of propylene carbonate.

A new range of supercapacitors using propylene carbonate-based electrolyte formulations was launched by AVX Corporation into energy storage applications across several different lithium-ion batteries available in July 2021.

For example, Indorama Ventures Public Company Limited (IVL)—a global petrochemicals player had entered into an agreement in June 2021 to develop offices for research and development (R&D) purposes in Mumbai in India—according to the latest source from Mumbai. This will be IVL’s primary center for research in the Asia Pacific region on products for homes, individuals and industrial energy, lubricants, care products, cleaning solutions, agrochemicals, mining and coatings, as well as other markets.