Ethylene Carbonate Market Size (2024 - 2029)

The ethylene carbonate market is projected to experience significant growth over the forecast period, driven by the increasing demand for lithium-ion batteries in electric vehicles and renewable energy storage systems. Despite challenges posed by the COVID-19 pandemic, which temporarily slowed production and demand, the market has rebounded due to the rising need for lithium batteries and their applications in the automotive sector. The market's expansion is further supported by the growing use of ethylene carbonate as an intermediate in the chemical industry. However, concerns regarding the toxicity of ethylene carbonate and the potential for substitution by alternative materials may pose challenges to its growth. The Asia-Pacific region is anticipated to lead the market, benefiting from its advanced electronics industry and substantial lithium-ion battery production.

Home Market Analysis Chemicals & Materials Research Commodity Chemicals Research Aromatics and Intermediates Research Chemical Intermediates Research Ethylene Carbonate Research Ethylene Carbonate Market Market Size

Market Size of Ethylene Carbonate Industry

Ethylene Carbonate Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.03 Billion
Market Size (2029) USD 1.63 Billion
CAGR (2024 - 2029) 9.58 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Ethylene Carbonate Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ethylene Carbonate Market Analysis

The Ethylene Carbonate Market size is estimated at USD 1.03 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 9.58% during the forecast period (2024-2029).

Ethylene carbonate output and consumption have been affected by COVID-19. Due to lockdowns, production limits, and global economic recession, ethylene carbonate and other chemical demands have slowed. Ethylene carbonate and other chemicals are cheaper due to lower demand. After the pandemic, the ethylene carbonate demand increased because of lithium-ion batteries for electric cars and systems that store energy from renewable sources.

  • The ethylene carbonate market grew recently. With the increase in demand for electric vehicles (EV) and device manufacturing units, there is an increase in lithium battery and lithium consumption, resulting in positive growth for the ethylene carbonate market.
  • Over the medium term, the factors affecting the ethylene carbonate market growth include the rising number of applications for intermediates in the chemical sector and the growing need for lithium batteries in the automobile sector.
  • However, on the flip side, rising health hazards due to the toxicity of ethylene carbonate and replacement prospects by other substitutes are expected to hinder the market's growth.
  • Asia-Pacific is expected to dominate the global market due to its highly developed electronics sector and high production of lithium-ion batteries.

Ethylene Carbonate Industry Segmentation

Ethylene carbonate (C3H6O3) is an organic substance. It is a colorless, odorless, extremely polar solvent and chemical producer. Electrolyte additives like ethylene carbonate improve lithium-ion battery performance and stability. It also produces urethane plastics and cellulose derivatives as an intermediary. The ethylene carbonate market is segmented by application, end-user industry, and region. By application, the market is segmented into lithium batteries, lubricants, medical products, intermediates and agents, and other applications. By end-user industry, the market is segmented into automotive, pharmaceutical, oil and gas, and other end-user industries. The report also covers the size and forecasts for the ethylene carbonate market in 15 countries across major regions. The market sizing and forecasts for each segment are based on volume (kilotons) and revenue (USD million).

Application
Lithium Batteries
Lubricants
Medical Products
Intermediates and Agents
Other Applications
End-user Industry
Automotive
Pharmaceuticals
Oil and Gas
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Ethylene Carbonate Market Size Summary

The ethylene carbonate market is poised for significant growth, driven by its critical role in the production of lithium-ion batteries, which are increasingly in demand due to the rise of electric vehicles and renewable energy storage systems. The market has shown resilience and recovery post-COVID-19 disruptions, with a surge in demand attributed to the expanding electric vehicle market and the need for energy storage solutions. Ethylene carbonate serves as a vital component in battery electrolytes, providing necessary ionic conductivity and stability, which are essential for optimal battery performance. The market's expansion is further supported by the growing applications of ethylene carbonate in the chemical sector and its use in electronic coatings, adhesives, and dielectrics. However, challenges such as health hazards related to its toxicity and potential substitutes may pose obstacles to its growth trajectory.

The Asia-Pacific region is expected to lead the global ethylene carbonate market, bolstered by its advanced electronics sector and substantial production of lithium-ion batteries, particularly in China and Japan. The region's dominance is further enhanced by government regulations promoting electric vehicles, which drive the demand for ethylene carbonate in various applications. The Japanese and South Korean electronics industries, among the largest globally, contribute significantly to this demand, with major companies like Samsung and LG spearheading advancements in consumer electronics and semiconductors. Additionally, the pharmaceutical industry in China, a rapidly expanding market, utilizes ethylene carbonate as a solvent, further augmenting its demand. The market is partially consolidated, with key players such as BASF SE, Huntsman International LLC, and Mitsubishi Chemical Corporation leading the industry, while strategic collaborations and investments continue to shape its future landscape.

Explore More

Ethylene Carbonate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Electric Vehicle Manufacturers

      2. 1.1.2 Increasing Applications of Chemical Intermediates

    2. 1.2 Restraints

      1. 1.2.1 Toxicity and Replacement Prospects by New Substitutes

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value and Volume)

    1. 2.1 Application

      1. 2.1.1 Lithium Batteries

      2. 2.1.2 Lubricants

      3. 2.1.3 Medical Products

      4. 2.1.4 Intermediates and Agents

      5. 2.1.5 Other Applications

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Pharmaceuticals

      3. 2.2.3 Oil and Gas

      4. 2.2.4 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Ethylene Carbonate Market Size FAQs

The Ethylene Carbonate Market size is expected to reach USD 1.03 billion in 2024 and grow at a CAGR of 9.58% to reach USD 1.63 billion by 2029.

In 2024, the Ethylene Carbonate Market size is expected to reach USD 1.03 billion.

Ethylene Carbonate Market Report Snapshots

Ethylene Carbonate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)