Ethyl Methyl Carbonate Market Size & Share 2023 to 2032
Market Size by Application (Li-ion Battery Electrolyte, Chemical Solvent, Pharmaceutical Intermediates, Agrochemicals), Competitive Landscape Global & Forecast.
Report ID: GMI5418
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Published Date: January 2023
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Ethyl Methyl Carbonate Market Size
Ethyl Methyl Carbonate Market size valued at USD 1 billion in 2022 and is anticipated to record 17.5% CAGR from 2023 to 2032. Growing demand for lithium batteries will accelerate the business growth.
Ethyl Methyl Carbonate Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The proliferating adoption of lithium-ion batteries following the economic downturn and the rising demand for EVs worldwide, which has stimulated the usage of lithium batteries on a large scale is expected to contribute the industry growth. Additionally, ethyl methyl carbonate is exempted from regulations imposed on volatile organic compounds in the U.S., which is promoting North America market revenue. Ethyl methyl carbonate market participants are making strategic investments in R&D and battery cell manufacturers are increasing their production capacity to improve their market standing and achieve economies of scale.
Production complexities to limit market progression
The production of an azeotropic system through transesterification between ethanol and high-purity dimethyl carbonate (DMC) makes energy consumption and separation more challenging, which is hindering market expansion. However, several companies are taking initiative to develop new manufacturing processes, which is likely to positively influence business growth.
Ethyl Methyl Carbonate Market Analysis
By application, the ethyl methyl carbonate market from the chemical solvent segment is projected to grow at around 17% growth rate through 2032 attributed to the high demand for paints & coatings from the automotive, shipbuilding, and aerospace & defense industries. Moreover, manufacturers are focusing on enhancing their products and services to gain a competitive edge in the sector, which is slated to support segment growth.
Impact of COVID-19 pandemic
Due to the onset of the COVID-19 pandemic, the global supply chain experienced disruptions resulting from the stringent lockdown regulations imposed by governments worldwide. This had a negative impact on the market revenue as the product's usage is heavily dependent on the growth of numerous industries. Nevertheless, the sector is gradually recovering as a result of the declining infection rates and the resumption of industrial production. Notably, the pandemic also saw an increase in environmental consciousness, which has bolstered consumer inclination toward electric vehicles, thereby supporting business expansion.
Rising inclination towards EVs to fuel Europe industry share
Europe ethyl methyl carbonate market is predicted to reach USD 2 billion by 2032, owing to the surging adoption of electric vehicles and the presence of major automotive manufacturers across the region. As per the International Council on Clean Transport, in 2021, 2.3 million EVs were sold in Europe. Furthermore, multiple applications of ethyl methyl carbonate in the pharmaceutical intermediates sectors, as well as major advancements in the industrial solvent sector, contribute to regional demand.
Ethyl Methyl Carbonate Market Share
are Some of the major enterprises operating in the ethyl methyl carbonate market. These organizations are usually engaged in strategies, such as partnerships, acquisitions, and service portfolio expansions, to generate their market share.
The market research report on ethyl methyl carbonate includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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Market, By Application
Market, By Region
Research methodology, data sources & validation process
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