Transparency Market Research (TMR) provides key insights on the ethylene carbonate market in its latest report titled “Ethylene Carbonate Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid growth of the automotive industry in Asia Pacific is predicted to drive the ethylene carbonate market during the forecast period. Countries in Asia Pacific have witnessed rise in population and expansion of numerous manufacturing facilities that offer growth opportunities to the ethylene carbonate market.
The report has segmented the ethylene carbonate market based on application and region. Based on application, the ethylene carbonate market is divided into lubricants, gas washing, oil field, synthesis of polycarbonate diol, lithium-ion batteries, and photochromic. The lithium-ion batteries segment is projected to expand at a rapid pace owing to the need for high power and energy density. This has driven the demand for reliable and safe batteries in industries such as automotive and consumer electronics.
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Based on regional perspective, the ethylene carbonate market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a dominant region of the market, followed by Europe and North America. Asia Pacific is estimated to account for a large share of the global ethylene carbonate market, owing to the growth in various end-use industries in countries such as Japan, China, and India. Increase in demand for ethylene carbonate is also ascribed to the rise in population and economic growth in China and Taiwan. Asia Pacific is driving the ethylene carbonate market owing to the presence of large number of manufacturing facilities in the region. China, Taiwan, South Korea, and Japan are the leading consumers of ethylene carbonate in Asia Pacific.
Prominent players operating in the ethylene carbonate market are included in this report to give better competitive analysis of the market and these are Oriental Union Chemical Corporation, Huntsman Corporation, BASF SE, and Mitsubishi Chemical.
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