Ethylene Carbonate Market by Application and Geography - Forecast and Analysis 2020-2024
Global Ethylene Carbonate Market: About this market
Technavio’s ethylene carbonate market analysis considers sales from lithium battery electrolyte, solvents, lubricants, photochromatic, and other applications. Our study also finds the sales of ethylene carbonate in APAC, Europe, MEA, North America, and South America. In 2019, the lithium battery electrolyte segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for ethylene carbonate-based lithium batteries will play a significant role in the lithium battery electrolyte segment to maintain its market position. Also, our global ethylene carbonate market report looks at factors such as growing automotive production, increasing demand for plasticizers, and rising demand for lubricants. However, fluctuating crude oil prices, stringent regulations and health hazards associated with ethylene carbonate, and increasing demand for biodegradable alternatives may hamper the growth of the ethylene carbonate industry over the forecast period.
Global Ethylene Carbonate Market: Overview
Increasing demand for plasticizers
The increasing demand for plasticizers is one of the major reasons for the ethylene carbonate market growth. The demand for plasticizers is increasing significantly, especially in regions such as APAC, MEA, and South America, as they are used in large quantities to improve the properties of polymers or plastics in these economies. Plasticizers are used during the manufacture of plastics, including PVA. Ethylene carbonate is added to PVA to improve its properties such as solubility, dielectric strength, charge storage capacity, dielectric constant, and absorption efficiency. This increasing demand for plasticizers will lead to the expansion of the global ethylene carbonate market at a CAGR of almost 7% during the forecast period.
Increasing demand for electric vehicles
The demand for electric vehicles (EVs) is increasing significantly, owing to rising concerns over global warming. The increasing demand for EVs will stimulate the demand for lithium batteries. Ethylene carbonate is used as a high permittivity component of electrolytes in lithium batteries. Therefore, the rising demand for EVs will drive the growth of the ethylene carbonate market during the forecast period.
For the detailed list of factors that will drive the global ethylene carbonate market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global ethylene carbonate market is moderately concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading ethylene carbonate manufacturers, that include BASF SE, Empower Materials Inc., FUJIFILM Holdings Corp., Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Holdings Corp., New Japan Chemical Co. Ltd., Oriental Union Chemical Corp., Thermo Fisher Scientific Inc., and Toagosei Co. Ltd.
Also, the ethylene carbonate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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