Ethylene Carbonate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3434
Ethylene Carbonate Market size should witness a steady growth in the upcoming years as it is used in lithium ion batteries, lubricants, plasticizer, as an intermediate in the synthesis of polycarbonate diols and as a precursor to vinylene carbonate, which is used in polymers and organic synthesis. Increasing demand for lubricants and lithium ion battery in automobile and electronic industries may drive the overall ethylene carbonate market share.
Ethylene carbonate is a highly polar solvent featuring high boiling point, low toxicity, no odor, and high solubility for polymers. As it is highly polar its permittivity is also high. It is produced by the reaction between ethylene oxide and carbon dioxide with a variety of cations and complexes acting as catalysts.
Rapid urbanization and increasing standard of living has led to the growth of automobile industry. 85 million conventional vehicles have been sold in 2018, growth in automobile sector will result in increased demand of lubricants, as ethylene carbonate is used as a solvent in lubricants, which may foster the ethylene carbonate market demand.
Electric vehicles market growth was accounted at over 70% in 2018, lithium ion batteries are prominently used in electric cars, its light weight and less charging time makes it more efficient than conventional lead batteries. Increasing demand of electric vehicle will eventually foster the ethylene carbonate market growth.
Lithium ion batteries are widely used in electronic gadgets like mobile phones, tablets, medical equipment. The lithium ion battery market accounts for USD 35 billion in 2018 and is expected to reach USD 110 billion by 2026. Ethylene carbonate dissolves large amount of electrolyte and is mainly used in lithium ion battery electrolyte solution, which in turn stimulates the ethylene carbonate market size.
Overheating of lithium-ion batteries act as restraint to the lithium battery electrolytes. Manufacturers of lithium ion battery are putting rigorous efforts in their R & D processes to curb this issue; a new liquid cooling technique was introduced to reduce overheating problem in lithium ion batteries which may drive the market demand.
North America led by Canada and the U.S. ethylene carbonate market size are is likely to have a significant growth up to 2025. The North America synthetic oil market accounts for USD 785 million in 2018.Shifting of consumer preference towards synthetic lubricants owing to their superior properties which includes wear & tear protection, thermal stability, heavy load holding & low friction may stimulate the regional industry growth.
Europe ethylene carbonate market demand led by Germany, France and UK may witness significant gains over the projected time span. Growing electric car sales, during the of first quarter of 2019, was expanded by 40% to 99,150 cars, owing to global environmental initiatives like Paris agreement, several countries are implying strict emission rules which may increase the demand for electric vehicles, thereby driving the regional industry growth. which may drive the demand for ethylene carbonate industry.
Asia Pacific ethylene carbonate market size led by China, India and Japan will see a significant growth over the forecast timeframe. Increased demand of lubricants owing to growth in automobile sector in countries like India, china and Taiwan will foster the demand for this product. In 2018, 950,000 units of electric vehicles have been sold in China. Increased environmental awareness among people and various government subsidies provided to curb environmental issues may drive the electric car sales in the region, which may drive the product demand.
Global ethylene carbonate market share is fragmented. Companies like Mitsubishi Chemical, Huntsman, BASF SE, Oriental Union Chemical Corporation, and Toagosei are the key players in this market. Shell Lubricants partnered with Mahindra to sell lubricants under a new brand name Maxima, the lubricants include engine oil, transmission oil and axle oil. Various manufacturers are engaged in R&D and joint ventures which may foster the industry growth.
By Application, 2014-2025 (Tons) (USD Million)
- Lithium battery electrolytes
By End-Use , 2014-2025 (Tons) (USD Million)
- Automotive Industry
- Oil & Gas Industry
- Industrial Sector
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Mitsubishi Chemical
- BASF SE
- Oriental Union Chemical Corporation
- Toagosei Co., Ltd
- Asahi Kasei
- New Japan Chemical
- Alfa Aesar
- Alchem Chemical Company
- Zibo Donghai Industries
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