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Ethylene Carbonate Market Trends

Report ID: GMI8348
Published Date: Feb 2024
Report Format: PDF

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Ethylene Carbonate Market Trends

One prominent trend is the escalating demand driven by the burgeoning electric vehicle sector and the increasing need for energy storage solutions. As the world shifts towards sustainable energy practices, the demand for lithium-ion batteries, for which ethylene carbonate is a crucial component, continues to surge. This market trend is further propelled by environmental consciousness and regulatory measures promoting cleaner energy alternatives. Additionally, the pharmaceutical and agrochemical sectors are embracing ethylene carbonate for its versatile applications as a solvent and reaction medium, contributing to the compound's market growth.

Furthermore, there is a notable trend of ongoing research and development activities aimed at exploring novel applications and improving production processes. Innovations in ethylene carbonate formulations and synthesis techniques are anticipated to enhance its efficiency and widen its scope of applications.

Authors: Kunal Ahuja, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global industry size for ethylene carbonate was USD 540 million in 2023 and is anticipated to witness over 13.8% CAGR between 2024 and 2032, due to the rising need for high-quality solvent and electrolytes in the production of lithium-ion batteries.

Ethylene carbonate industry from the liquid form segment reached a revenue of USD 536.38 million in 2023, attributed to the extensive application, especially in the production of lithium-ion batteries.

The lithium battery electrolytes application segment accounted for over 34% of the ethylene carbonate market share in 2023 and is projected to grow through 2032, driven by the rapid growth of the EV sector and increased adoption of energy storage solutions

Asia Pacific market size was USD 183.9 million in 2023, led by the rapid industrialization, burgeoning population, and increasing economic activities in the region