Exploring the Growth of Ethylene Carbonate: Properties, Applications, and Developments

Ethylene carbonate is a chemical compound with the formula C3H4O3. It is a cyclic ester that is colorless, odorless, and has a sweet taste. Ethylene carbonate is a polar solvent and finds extensive use in various industrial applications. Its high dielectric constant makes it suitable for lithium-ion battery electrolytes, capacitors, and other electronic devices. Additionally, it is utilized in coatings, paints, adhesives, and as a solvent for chemical reactions. Ethylene carbonate's ability to dissolve a wide range of materials and its stability makes it a valuable component in several industries.

The Ethylene Carbonate market size is expected to grow from USD 473 million in 2022 to USD 901 million by 2027, at a CAGR of 13.7%, during the forecast period.?

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"Liquid form ethylene carbonate to overtake the lead during the forecast period"

The ethylene carbonate industry has been segmented based on form into solid and liquid. The liquid segment accounted for the smaller share of the market in 2021. However, it is going to overtake the lead during the forecast period. The growth in this segment is attributed to the increasing demand from various applications including battery electrolytes, solvents, and chemical intermediates, among others. Ethylene carbonate in liquid form is extensively used in these applications to cater end use industries such as automotive, medical, chemical, and industrial. These factors are expected to drive the demand for liquid ethylene carbonate during the forecast period.

Based on the application,

• Lithium Battery Electrolytes
• Lubricants
• Plasticizers
• Surface Coatings

"Lithium battery electrolytes to dominate during the forecast period"

The ethylene carbonate industry has been segmented based on application into lubricants, lithium battery electrolytes, plasticizers, surface coatings, and others. The lithium battery electrolytes segment is projected to hold the largest share by 2027. The growth in this segment is attributed to the increasing sales of electric vehicles across the globe. According to International Energy Agency, the global sales of electric vehicles have doubled in 2021 as compared to 2020. A similar growth trend is expected to continue during the forecast period, driving the demand for battery electrolytes, and in turn of ethylene carbonate.

Based on the end-use industry,?

• Automotive
• Industrial
• Medical
• Oil & Gas
• Personal Care & Hygiene
• Others (electronics, textile, and energy)

"Automotive end-use industry segment to dominate the global market"

The market has been segmented based on the end-use industry into automotive, industrial, medical, oil & gas, personal care & hygiene, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to witness significant growth during the forecast period. This increase is attributed to increase in sales of vehicles, especially EVs. For instance, in Europe, the sales of electric vehicles in 2021 increased by 66% year-on-year, accounting for 2.3 million cars. Ethylene carbonate finds application in the production of automotive lubricants, in protective surface coatings, and in lithium batteries as an electrolyte. Furthermore, light-weighting trend has expanded the demand of various plastics, including polycarbonate in vehicle body manufacture, leading to increasing uptake of ethylene carbonate as a plasticizer. These factors are expected to drive demand during the forecast period.

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"Asia Pacific region is expected to have the largest market"

The Asia Pacific region is projected to hold the dominant market size in the global ethylene carbonate industry. This growth can be attributed to increasing industrial activities, rising demand for electronic devices and batteries, and the expanding automotive and construction sectors in the region. Additionally, the region's growing population and urbanization are driving the demand for products that utilize ethylene carbonate, such as coatings, adhesives, and pharmaceuticals. The Asia Pacific's strategic position in the global market is expected to fuel the continued growth and significance of the ethylene carbonate industry in the coming years.

The key players include Oriental Union Chemical Corp (1710) (Taiwan), 亨斯迈集团 (US), 巴斯夫 (Germany), Mitsubishi Chemical Group (Japan), Toagosei America, Inc. (Japan), among others.

Recent Developments

• In February 2022, Lotte Chemical announced the construction of a new plant at Daesan, South Korea,?for manufacturing high-purity organic solvents such as ethylene carbonate, that are used in electric vehicle batteries, as a part of its US$ 502 million investment in sustainable specialty materials business.
• In Jun 2021, Huntsman Corporation announced the expansion of its ULTRAPURE Ethylene Carbonate manufacturing facility located at Conroe, Texas, US to cater to the growing demand for lithium-ion batteries in electric vehicles.