Ethylene Carbonate Market Will Grow at a CAGR of 6.80% during 2022-2029

Ethylene Carbonate Market Size and Growth

According to DataM Intelligence, the Ethylene Carbonate Market was worth $288.0 million, and it is expected to be worth $418.5 million by 2029. From 2022 to 2029, the market is expected to increase at a CAGR of 6.8%.

Introduction:

Because ethylene carbonate is a highly polar solvent that dissolves a significant quantity of electrolyte, it is mostly employed in the electrolyte solution of lithium batteries. It may also dissolve polymers easily, making it useful as a releasing agent and detergent. Its product is of good quality, with minimal impurities and moisture levels. It has a stellar reputation for adhering to stringent quality requirements.

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Rapid urbanization and rising living standards have fueled the rise of the automobile sector. Because ethylene carbonate is used as a solvent in lubricants, growth in the automobile sector has resulted in a higher need for lubricants, which has boosted ethylene carbonate market demand. Lithium ion batteries are widely utilized in electric vehicles since they are lighter and need less charging time than conventional lead batteries. The growing demand for electric vehicles will eventually fuel the expansion of the ethylene carbonate industry. Lithium-ion batteries are commonly found in electronic devices such as cell phones, tablets, and medical equipment.

Some of the major countries covered in the global report such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.?

Ethylene Carbonate Market Segmentation Analysis:

Market is segmented on the by form, by application, by end-use, and by region

By Form

By?form, the market is divided into solid and liquid. In 2019, the solid category dominated the market. However, due to the widespread usage of ethylene carbonate as an electrolyte in lithium-ion batteries, the liquid sector is likely to develop at a faster rate throughout the projection period.

By Application

Lubricants, surface coatings, plasticizers, lithium battery electrolytes, and other applications comprise the market. Because of their widespread usage in the automobile sector, lubricants dominated the market in 2019. However, the lithium battery electrolytes sector is predicted to develop at a faster rate during the forecast period, owing to a growth in the usage of electric cars and a trend toward clean energy to reduce carbon emissions.

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By End-Use

Lubricants, surface coatings, plasticizers, lithium battery electrolytes, and other applications comprise the market. Because of their widespread usage in the automobile sector, lubricants dominated the market in 2019. However, the lithium battery electrolytes sector is predicted to develop at a faster rate during the forecast period, owing to a growth in the usage of electric cars and a trend toward clean energy to reduce carbon emissions.

By Region

The market is researched throughout North America, Europe, Asia-Pacific, and Latin America. Because of the existence of significant firms in the automotive and chemical sectors, North America led the market in 2019. However, due to expanded automotive sector and expansion in the electric vehicle industry, Asia-Pacific is predicted to grow at a faster rate throughout the projection period.

Ethylene Carbonate Market Key Players:

The key players in the Ethylene Carbonate market are Asahi Kasei Corp, BASF SE, Cole-Parmer Instrument Company, LLC, Empower Materials, Huntsman Corporation, Merck KGaA, Mitsubishi Chemicals, Prasol Chemicals Lts, Thermo Fisher Scientific, and Vizag Chemicals International.

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