Ethylene Carbonate Market Size to Expand at a Notable High CAGR of 6.3% During 2018 - 2023: MRFR

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Ethylene Carbonate Market Research Report
Global Forecast till 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Ethylene Carbonate Market - 2023
Ethylene Carbonate Market Research
Report by Form (Liquid, Solid), Purity (High
Purity (gt99), Medium Purity (96 to 99)),
Application (Polyethylene Terephthalate (PET)
Polyester), End-Use Industry (Carpets and Rugs),
Region Global Forecast to 2023 Market
overview Ethylene carbonate is an organic
chemical compound with formula (CH2O)2CO which is
produced by reacting ethylene oxide and carbon
dioxide in the presence of a catalyst. It is
colorless in nature with a fruity essence. This
carbonate ester of ethylene glycol exhibits
relatively enhanced solubility, polarity, and
higher boiling point when compared to other
conventional solvents. It is widely used as a
high permittivity component of electrolytes in
lithium-ion batteries. In addition to this, it is
used as solvent for dyes, plastics production,
coatings, and as an intermediate in production of
polycarbonate diols. According to MRFR analysis,
the global ethylene carbonate market was valued
at USD 263.5 million in 2017 and is estimated to
reach USD 368.2 million with a robust CAGR of
6.3 during the forecast period. There is a
surging demand for ethylene carbonate in
lithium-ion electrolytes and lubricants which is
expected to drive the global market growth.
Growing need for high power and energy density is
likely to increase the demand for safe and
reliable batteries for automotive and consumer
electronics industry. Furthermore, rising
automotive industry in Asia-Pacific is likely to
favor the market growth in the coming years.
Moreover, rapid industrialization in emerging
economies of Asia-Pacific and the Middle East
Africa is anticipated to positively influence the
market growth. Growing adoption of new advanced
lithium-ion batteries is expected to offer
lucrative opportunities to the market players. In
addition to this, growing RD facilities for
bio-based plasticizers is further anticipated to
provide ample opportunities to the
manufacturers. However, volatile raw material
prices and environmental regulations owing to the
products toxicity is expected to hamper the
market growth in the coming years. In addition to
this, high production costs and transport costs
is further anticipated to restrain the market
growth during the review period.
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Ethylene Carbonate Market - 2023
Regional analysis The global ethylene carbonate
market has been segmented into five key regions,
namely Asia-Pacific, North America, Europe, Latin
America, and the Middle East Africa. The
Asia-Pacific dominated the global market in 2017
and is expected to register the highest CAGR
during the forecast period owing to the growing
demand for the product in automotive industry.
Factors such as large consumer base, growing
industrial establishments, and rising demand for
the product in oil and gas industry are likely to
propel the regional market growth. China and
India are the major countries atrributing to the
regional market growth owing to the growing
demand for the product in electric vehicles and
lubricants, growing population, and growing
automotive facilities. The North American market
was the second-largest and is likely to grow at a
significant CAGR during the review period owing
to the growing awareness of consumption of
ethylene carbonate as synthetic fibres in textile
industry. Segmentation analysis The global
ethylene carbonate market has been segmented on
the basis of form, purity, application, end-use
industry, and region. Based on form, the global
ethylene carbonate market has been bifurcated
into solid and liquid. By purity, the global
ethylene carbonate market has been classified
into high purity (gt99), medium purity (96 to
99), and low purity (lt96). On the basis of
application, the global ethylene carbonate market
has been divided lithium battery electrolytes,
lubricants, plasticizers, surface coatings,
chemical intermediate, fiber processing agents,
dyes, and others. Based on end-use industry, the
global ethylene carbonate market has been
categorized into automotive, oil gas, medical,
personal care hygiene, chemical, textile, and
others The global ethylene carbonate market has
been studied across five major regions, namely,
Asia-Pacific, North America, Europe, Latin
America, and the Middle East Africa.
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Ethylene Carbonate Market - 2023
Key players The key players involved in the
global ethylene carbonate market are OUCC
(Taiwan), BASF SE (Germany), Mitsubishi Chemical
Corporation (Japan), Huntsman International LLC
(US), TOAGOSEI CO., LTD. (Japan), New Japan
Chemical Co., Ltd. (Japan), Zibo Donghai
Industries Co.,Ltd. (China), Shandong Senjie
Cleantech Co., Ltd (China), Alchem Chemical
Company (US), Merck KGaA (Germany), and PANAX
ETEC (South Korea). Target audience Traders
and distributors of ethylene carbonate Ethylene
carbonate manufacturers Potential
investors Manufacturing process industries Raw
material suppliers Nationalized
laboratories Government bodies
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