Lubricants segment is projected to lead ethylene carbonate market by 2022

The report “Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Plasticizers, Surface Coatings), End-use Industry (Automotive, Oil & Gas, Industrial, Medical, Personal Care & Hygiene), and Region – Global Forecast to 2022″,

The global ethylene carbonate market is projected to grow from USD 264.8 Million in 2017 to USD 355.1 Million by 2022, at a CAGR of 6.0% in terms of value from 2017 to 2022. The increase in demand for high-quality ethylene carbonate produced by various companies such as Huntsman, BASF, and Mitsubishi Chemical, is the key factor driving the ethylene carbonate market.

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The ethylene carbonate market has been segmented on the basis of application, end-use industry, and region. The lithium battery electrolytes segment is projected to witness a high growth due to the need for high power and energy density, which has increased the demand for reliable and safe batteries for industries, such as automotive and consumer electronics.

Some major driving factors for the growth of this market include an increase in demand for Electric Vehicles (EV), stringent government mandates on fuel economy, rise in demand for smart devices and other consumer electronics, and developments to enhance Li-ion batteries. However, factors such as overheating of lithium-ion batteries causing security concerns and inadequate charging infrastructure act as restraints for the growth of the lithium battery electrolytes segment.

The automotive segment is expected to lead the ethylene carbonate market during the forecast period. Reduced emission of Volatile Organic Compounds (VOCs) and durable protective surface coating on vehicles make ethylene carbonate preferable to be used in the automotive industry. There has been a consistent rise in the number of vehicles in use in Asia Pacific, Europe, and North America over the past decade, which is fueling the demand for ethylene carbonate.

Objectives of the Study:

  • To analyze and forecast the ethylene carbonate market both in terms of volume and value
  • To define, describe, and segment the ethylene carbonate market on the basis application and end-use industry
  • To forecast the size of market in 5 major regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • To provide detailed information regarding the key factors, such as drivers, restraints, and opportunities influencing the growth of the ethylene carbonate market
  • To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contribution to the overall ethylene carbonate market
  • To identify and analyze opportunities for stakeholders in the ethylene carbonate market
  • To profile key players operating in the ethylene carbonate market and comprehensively analyze their core competencies

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Scope of the Report:

The ethylene carbonate market has been segmented as follows:

Ethylene Carbonate Market, By Application:

  • Surface Coatings
  • Plasticizers
  • Lubricants
  • Lithium Battery Electrolytes
  • Others

Ethylene Carbonate Market, By End-use Industry:

  • Automotive
  • Oil & Gas
  • Personal Care and Hygiene
  • Industrial
  • Medical
  • Others

Ethylene Carbonate Market, By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

 

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Asia Pacific, Europe, and North American regions are the major markets for ethylene carbonate. The ethylene carbonate market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. The increasing demand for lubricants from oil & gas, industrial, and automotive industries is driving the growth of the ethylene carbonate market in Asia Pacific. The increase in demand is due to the growing population and economic growth in China and Taiwan. China, Taiwan, South Korea, and Japan are the leading consumers of ethylene carbonate in Asia Pacific.

Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan) are the leading companies operating in the ethylene carbonate market. These companies are expected to account for significant shares of the ethylene carbonate market in the coming years.

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