According to the report, the global ethylene carbonate market was valued at approximately USD 262 million in 2017 and is expected to generate around USD 372 million by 2024, at a CAGR of around 5.16% between 2018 and 2024.
New York, NY, Jan. 14, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Ethylene Carbonate Market by Application (Surface Coatings, Plasticizers, Lithium Battery Electrolytes, and Others) and by End-Use (Automotive, Oil & Gas, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global ethylene carbonate market was valued at approximately USD 262 million in 2017 and is expected to generate around USD 372 million by 2024, at a CAGR of around 5.16% between 2018 and 2024.
Ethylene carbonate is an organic chemical compound that is available in colorless to yellowish solid form with a fruity essence. It is mostly utilized in lithium batteries as an electrolyte solution. The increase in the demand for ethylene carbonate in lithium batteries as an electrolyte solvent is the primary factor that is likely to drive the ethylene carbonate market in the years ahead. Lithium batteries are more effective in comparison to other traditional lead batteries, as lithium batteries are lighter in weight and require less power for charging. This, in turn, is fuelling the demand for lithium batteries, which is likely to fuel the ethylene carbonate market in the future. Lithium batteries are used in consumer electronics and automobiles. Ethylene carbonate has various other applications, such as it acts as a crosslinking agent in superabsorbent polymer production and as a separator in process and oil fields. These are some factors that are anticipated to contribute to the ethylene carbonate market growth over the forecast time period. However, the overheating of lithium batteries might limit the ethylene carbonate market in the future on a global scale.
Browse through 49 Tables & 18 Figures spread over 110 Pages and in-depth TOC on “Global Ethylene Carbonate Market Size & Share 2018 Report: By Type, Industry Demand, Growth, Analysis and Forecast 2024”.
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By application, the ethylene carbonate market is segmented into surface coatings, plasticizers, lithium battery electrolytes, and others. Lubricants are likely to dominate the ethylene carbonate market over the forecast timeframe, due to ethylene carbonate’s usage as a synthetic lubricant stabilizer by the automobile industry. By end-use, the market includes automotive, oil and gas, medical, and others. The automotive segment is predicted to dominate the ethylene carbonate market in the upcoming years, owing to ethylene carbonate’s extensive use as a coating agent in this sector.
By region, the global ethylene carbonate market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe held a substantial revenue share in the global ethylene carbonate market in 2017, owing to the increased product used as a lubricant by the automotive industry. Moreover, ethylene carbonate is also used as a surface coating in vehicles. The consistent rise in the number of vehicles across the region is likely to fuel this regional market’s growth in the near future.
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The Asia Pacific recorded the highest growth rate in the global ethylene carbonate market in 2017 and is projected to continue its regional dominance in the upcoming years as well. The growth of this regional market can be attributed to an increased number of automotive facilities and other industrial establishments across the region. The rising demand for lubricants from the manufacturing sectors is anticipated to further drive the region’s ethylene carbonate market growth over the forecast timeline.
North America is predicted to offer significant growth opportunities in the global ethylene carbonate market in the future. This regional market growth can be attributed to the growing consumer awareness about ethylene carbonate as synthetic fiber.
Browse the full “Ethylene Carbonate Market by Application (Surface Coatings, Plasticizers, Lithium Battery Electrolytes, and Others) and by End-Use (Automotive, Oil & Gas, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024” Report at https://www.zionmarketresearch.com/report/ethylene-carbonate-market
Some key industry players operating in the ethylene carbonate market include Asahi Kasei, Empower Materials, TCI Chemicals, BASF SE, Merck KGaA, Thermo Fisher Scientific, Huntsman Corporation, Oriental Union Chemical Corporation, Mitsubishi Chemicals, Toagosei Co., Ltd., and New Japan Chemical Co., Ltd.
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This report segments the global ethylene carbonate market into:
Global Ethylene Carbonate Market: Application Analysis
- Surface Coatings
- Lithium Battery Electrolytes
Global Ethylene Carbonate Market: End-Use Analysis
- Oil and Gas
Global Ethylene Carbonate Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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