The global Ethylene Carbonate Market is estimated to witness a rise in revenue from US$ 303.2 Mn in 2021 to US$ 450.5 Mn by 2027. The market is registering growth at a CAGR of 6.6% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 6.3% during the forecast period.
Ethylene carbonate is an organic compound with the formula (CH2O)2CO, which is primarily used as a raw material in the production of lubricants and as a solvent for many resins, polymers, and plasticizers. Generally, ethylene carbonate is colorless and odorless in nature and is only slightly soluble in water. Ethylene Carbonate is also being increasingly used as an electrolyte in lithium-ion batteries. Ethylene carbonate is used in various oil and gas processes as it provides low toxicity in nature. Moreover, due to its superior properties such as low toxicity, non-flammability, and low vapor pressure, it eliminates harmful deposits and minimizes corrosion. Furthermore, the usage of ethylene carbonate is economical as they provide low-cost metal complexing in a readily biodegradable form.
The demand for ethylene carbonate is mainly driven by its growing demand for lithium-ion electrolytes and significant industrial growth in the Asia Pacific. Continuous increasing application of li-ion batteries in multiple sectors is expected to create the demand for ethylene carbonate in the near future as they have electrolytes that are typically a mixture of organic carbonates such as ethylene carbonate. Moreover, the industrial sector is one of the major drivers of the global ethylene carbonate market, and with such a rise in the industrial sector in the Asia Pacific, the ethylene carbonate market will witness considerable growth in the region. Also, manufacturing has emerged as one of the high-growth sectors in the Asia Pacific. However, the cost of raw material used in the production of ethylene carbonate has experienced volatility in recent years, impacting the global ethylene carbonate market. The price of basic chemicals has experienced an increase due to which the overall cost of ethylene carbonate is also on the rise.
Report Summary
The study of the global ethylene carbonate market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the ethylene carbonate industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Global Ethylene Carbonate Market across 15 Chapters and 208 pages. The report includes data presentation across 66 tables and 85 statistical figures. The research report also provides Porter’s five forces analysis wherein the bargaining power of buyers and competitive rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as grade, form, application, industry, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the market for ethylene carbonate.
COVID-19 impact on Global Ethylene Carbonate Market
The global ethylene carbonate market is expected to witness a slight decline of approx. -0.2% in 2020, post the outbreak of the COVID-19 pandemic. A slowdown in the chemical production practices with the outbreak of COVID-19 has been disrupting global trade. The whole value chain ranging from raw material supply and manufacturing to marketing has been affected by the COVID-19 pandemic. Besides, the decrease in the end-use applications of ethylene carbonate especially in lubricants, due to the COVID-19 pandemic is also affecting the growth of the ethylene carbonate market. Moreover, the fall-off in the purchasing of new equipment in the manufacturing industry and automotive, backed by the decline in the purchasing power has certainly impacted the manufacturing of ethylene carbonate globally. Though a substantial growth in the global ethylene carbonate market can be expected in 2021 and subsequent years backed by the resurgence of manufacturing activities globally.
Key Takeaways from the Global Ethylene Carbonate Market Report
Competitive Landscape
The key players in the global ethylene carbonate market are BASF SE, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Corporation, Toagosei Co., Ltd., Sigma-Aldrich, Lixing Chemical, Tokyo Chemical Industry Co., Ltd and OUCC among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
Global Ethylene Carbonate Market is segmented based on grade, form, application, industry, and region. The industry trends in the global ethylene carbonate market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Ethylene Carbonate Market:
By Grade segment of the Global Ethylene Carbonate Market is sub-segmented into:
By Form segment of the Global Ethylene Carbonate Market is sub-segmented into:
By Application segment of the Global Ethylene Carbonate Market is sub-segmented into:
By Industry segment of the Global Ethylene Carbonate Market is sub-segmented into:
By Region segment of the Global Ethylene Carbonate Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 303.2 Mn |
Expected Revenue in 2027 | US$ 450.5 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Unit | Value (USD Mn) |
CAGR | 6.6% |
Segments covered | By Grade, Form, Application, Industry, and Region |
Key Companies | BASF SE, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Corporation, Toagosei Co., Ltd., and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Ethylene carbonate is an organic compound with the formula (CH2O)2CO, which is primarily used as a raw material in the production of lubricants and as a solvent for many resins, polymers and plasticizers.
The growth rate of the global ethylene carbonate market is 6.6%, with an estimated value of US$ 450.5 Million by 2027.
Factors such as growing demand for ethylene carbonate in lithium-ion electrolytes and significant industrial growth in Asia Pacific drives the growth in the global ethylene carbonate market.
Grade, form, application and industry are the different segments of the global ethylene market.
Volatility in raw material prices inhibits the growth in the global ethylene carbonate market over the forecast period.
Based on grade, the ethylene carbonate market is bifurcated into battery grade and industry grade.
Mexico is expected to project the highest CAGR in the North America ethylene carbonate market during the forecast period.
The lubricant segment dominated the global ethylene carbonate market due to its growing usage in industrial, oil & gas and automotive end-use industry.
Asia Pacific held the major share in terms of revenue in the Global Ethylene Carbonate Market in 2021.
The superior properties of ethylene carbonate are low toxicity, non- flammability and low vapor pressure, because of these properties it eliminates the harmful deposits and minimizes the corrosion.
Automotive segment holds the highest market share in 2021 due to the rising demand for electric vehicles in the marketplace.
Some of the key players in the global ethylene market include BASF SE, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Corporation, Toagosei Co., Ltd., Lixing Chemical, Tokyo Chemical Industry Co., Ltd. and OUCC among others.