Global Ethylene Carbonate Market Report (2022 to 2027) - Emergence of Lithium-Sulfur Batteries and Increasing Use of Bio-based Plasticizers Present Opportunities

News provided by

Oct 13, 2022, 13:30 ET

DUBLIN, Oct. 13, 2022 /PRNewswire/ -- The "Global Ethylene Carbonate Market by Application (Lubricants, Lithium Battery Electrolyte, Plasticizers, Surface Coatings), End-Use Industry (Automotive, Oil & Gas, Industrial, Medical, Personal Care & Hygiene) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global 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.

The ethylene carbonate industry has driven growth in the industrial sector. Industrial machinery requires lubricants for smooth functioning and reduced wear & tear. Also, many machines utilize surface coatings to reduce the risk of rusting and chemical attacks. These lubricants and surface coatings manufacturers are increasingly using ethylene carbonate as a highly polar solvent.

Moreover, An increase in demand for electric vehicles has pushed for battery electrolyte requirements, also translating into growth for the ethylene carbonate market. However, factors, such as the scarcity of raw materials and regulations on the use of ethylene carbonates are likely to hinder the growth of the market.

Excellent polar solvency capacity is the primary reason behind the fastest growth of liquid form

The ethylene carbonate market has been segmented based on form as solid and liquid. Among these forms, the liquid form is projected to grow at the fastest rate during the forecast period. The liquid form of ethylene carbonate acts as a highly polar solvent, suitable for dissolving large amounts of solute (electrolyte and chemicals). Therefore it is being largely used in applications such as lithium battery electrolytes, solvents, and reagents, among others.

Ethylene carbonate based lubricants enable smooth functioning of automobiles and industrial machinery

The ethylene carbonate market has been segmented based on applications such as lubricants, lithium battery electrolytes, plasticizers, surface coatings, and others. Among these applications, lubricants accounted for the larger share of the market in 2021. Ethylene carbonate acts as a reactive intermediate in the production of lubricants and greases. These lubricants enable the smooth functioning of industrial machinery and automotive engines. Thus, the demand for these lubricants is gaining traction, with an increase in demand for manufactured goods and automobiles, leading to the expansion of the ethylene carbonate market.

Rising sales of electric vehicles has pushed the demand for ethylene carbonate in the automotive industry

The automotive segment is flourishing owing to the efforts by manufacturers to the reduction in the emissions of volatile organic compounds (VOCs) that form smog. Manufacturers are trying to reduce the weight of the vehicles by employing materials such as plastics, resulting in a growing demand for plasticizers such as ethylene carbonate. Furthermore, there has been a consistent rise in the number of electric vehicles in use across the globe over the past five years. This is fueling the sales of ethylene carbonate, mainly in lubricants and battery electrolytes applications, in the automotive industry.

Asia Pacific is expected to record the highest growth rate during the forecast period

Asia Pacific is expected to have the highest growth rate during the forecast period due to countries such as China, Japan, South Korea, and India are hub for manufacturing products such as batteries, lubricants, and paints & coatings. Further, the economic growth in the major countries has led to an expansion in the industrial and automotive industries, driving the demand for ethylene carbonate in various applications. On the other hand, Europe is projected to have the second-largest market size by the end of the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Ethylene Carbonate Market
4.2 Ethylene Carbonate Market, by Region
4.3 Ethylene Carbonate Market in Asia-Pacific, by Country and Application
4.4 Ethylene Carbonate Market: Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand in Lithium-Ion Battery Electrolyte and Lubricant Applications
5.2.1.2 Massive Industrial Growth in Asia and Africa
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.2.2 Use of Highly Toxic Raw Materials in Production of Ethylene Carbonate
5.2.3 Opportunities
5.2.3.1 Emergence of Lithium-Sulfur Batteries
5.2.3.2 Increase in Use of Bio-based Plasticizers
5.2.4 Challenges
5.2.4.1 Fluctuating Oil & Gas Prices
5.3 Porter's Five Forces Analysis

6 Industry Trends
6.1 Macroeconomic Overview & Trends
6.1.1 Trends & Forecast of GDP
6.1.2 Trends of Oil & Natural Gas Prices
6.1.3 Industry Outlook
6.1.3.1 Electric Vehicles
6.2 Technology Analysis
6.3 Supply Chain Analysis
6.4 Ecosystem/Market Map of Ethylene Carbonate
6.5 Average Selling Price Trend
6.6 Patent Analysis
6.6.1 Introduction
6.6.2 Insights
6.6.3 Top Assignees
6.7 Trends/Disruptions Impacting Customers' Businesses
6.8 Trade Data Statistics
6.9 Case Study Analysis
6.10 Tariff and Regulatory Landscape

7 Ethylene Carbonate Market, by Form
7.1 Introduction
7.2 Solid
7.2.1 Usage in Multiple Applications
7.3 Liquid
7.3.1 Growing Use in Lithium-Ion Battery Electrolytes

8 Ethylene Carbonate Market, by Application
8.1 Introduction
8.2 Surface Coatings
8.2.1 Increase in Use of Surface Coatings in End-use Industries
8.3 Plasticizers
8.3.1 Increased Demand for Polyvinyl Carbonate Manufacturing
8.4 Lubricants
8.4.1 Increased Use in Various Industries
8.5 Lithium Battery Electrolytes
8.5.1 Increasing Demand for Electric Vehicles
8.6 Others

9 Ethylene Carbonate Market, by End-use Industry
9.1 Introduction
9.2 Automotive
9.2.1 Ethylene Carbonate Used in Lithium-Ion Batteries
9.3 Oil & Gas
9.3.1 Increased Use of Lubricants in Equipment
9.4 Personal Care & Hygiene
9.4.1 Increase in Per Capita Spending Power to Drive Demand
9.5 Industrial
9.5.1 Demand for Ethylene Carbonate as Lubricant Stabilizer to be Steady
9.6 Medical
9.6.1 Increased Usage in Medical Diagnosis as Nanoparticles
9.7 Others

10 Ethylene Carbonate Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis/Market Ranking of Key Players
11.2.1 Market Share Analysis of Key Players
11.3 Key Market Developments
11.4 Company Evaluation Quadrant Matrix Definitions and Methodology, 2021
11.4.1 Star Players
11.4.2 Emerging Leaders
11.4.3 Pervasive Players
11.4.4 Participants
11.5 Competitive Benchmarking
11.5.1 Strength of Product Portfolio
11.5.2 Business Strategy Excellence
11.6 Small and Medium-Sized Enterprises (SMEs) Matrix, 2021
11.6.1 Progressive Companies
11.6.2 Starting Blocks
11.6.3 Dynamic Companies
11.6.4 Responsive Companies

12 Company Profiles
12.1 Key Players
12.1.1 Oriental Union Chemical Corporation
12.1.2 BASF SE
12.1.3 Mitsubishi Chemical Group Corporation
12.1.4 Huntsman International LLC
12.1.5 Toagosei Co. Ltd.
12.1.6 Shandong Shida Shenghua Chemical Group Co. Ltd.
12.1.7 Shandong Senjei Cleantech Co. Ltd.
12.1.8 Zibo Donghai Industries Co. Ltd.
12.1.9 Merck KGaA
12.1.10 Dubi Chem Marine International
12.2 Other Players
12.2.1 Alfa Aesar
12.2.2 Tokyo Chemical Industry Co. Ltd.
12.2.3 Empower Materials
12.2.4 Taixing Taida Fine Chemical Co. Ltd.
12.2.5 Zhengzhou Meiya Chemical Products Co. Ltd.
12.2.6 Otto Chemie Pvt. Ltd.
12.2.7 Vizag Chemicals International
12.2.8 Fujifilm Wako Pure Chemical Corporation
12.2.9 Rx Marine International
12.2.10 Cole-Parmer Instrument Company, LLC.
12.2.11 National Analytical Corporation
12.2.12 Antares Chem Private Limited
12.2.13 Liaoning Aoke Chemical Co. Ltd.
12.2.14 Shandong Lixing Chemical Co. Ltd.
12.2.15 Dongying Hi-Tech Spring Chemical Industry Co. Ltd.