Ethylene Carbonate Market to Grow at a Surprising CAGR of 6% by 2027

Ethylene Carbonate Market Analysis

ethylene carbonate market is anticipated to generate $418.5 million by 2027. growth at a CAGR of 6.0% from 2020 to 2027

WILMINGTON, DELAWARE , UNITED STATES, January 19, 2024 /EINPresswire.com/ — The global ethylene carbonate industry generated $288.0 million in 2019, and is projected to generate $418.5 million by 2027, witnessing a CAGR of 6.0% from 2020 to 2027. 

Allied Market Research published a report, titled, ”Ethylene Carbonate Market by Form (Solid and Liquid), Application (Lubricants, Surface Coatings, Plasticizers, Lithium Battery Electrolytes, and Others) and End-Use (Automotive, Oil & Gas, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.”

Prime determinants of growth

Increase in demand in lithium-ion electrolytes & lubricant applications and rise of the automotive industry in Asia-Pacific drive the growth of the global ethylene carbonate market. However, fluctuations in the prices of raw materials hinder the market growth. On the other hand, rapid urbanization and adoption of new technologies in lithium-ion batteries present new opportunities in the coming years.  

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7672

Market players grabbing the largest market                      

Asahi Kasei Corp.

BASF SE

Cole-Parmer Instrument Company, LLC.

Empower Materials

Huntsman Corporation

Merck KGaA

Mitsubishi Chemicals

Prasol Chemicals Lts

Thermo Fisher Scientific

Vizag Chemicals International

COVID-19 Scenario

Owing to lockdown, manufacturing activities for ethylene carbonate stopped across various countries. In addition, supply and distribution activities are hampered.

Many industrial activities in sectors such as automotive, aerospace, and others came to abrupt halt. This resulted in a significant decrease in demand for ethylene carbonate.

The demand would be restored steadily as daily operations in different end-use industries resume during the post-lockdown period.

The solid segment to continue its lead position during the forecast period

Based on form, the solid segment held the highest market share in 2019, accounting for more than three-fifths of the global ethylene carbonate market, and is projected to continue its lead position during the forecast period. This is attributed to its usage as high permittivity component of electrolytes in lithium and lithium-ion batteries. However, the liquid segment is estimated to witness the highest CAGR of 6.3% from 2020 to 2027, owing to extensive usage as an electrolyte in lithium-ion batteries.  

Have Any Query? Ask Our Expert : https://www.alliedmarketresearch.com/purchase-enquiry/7672

The lubricants segment to maintain its dominance in terms of revenue throughout the forecast period

Based on application, the lubricants segment contributed to the largest market share, holding more than one-third of the global ethylene carbonate market in 2019, and is expected to maintain its dominance in terms of revenue throughout the forecast period. This is attributed to its widespread usage in the automotive industry. However, the lithium battery electrolytes segment is estimated to register the fastest CAGR of 6.6% from 2020 to 2027. This is due to rise of usage in electric vehicles and focus on clean energy to lower down carbon emissions.

North America to grow at the fastest rate

Based on region, North America is projected to portray the largest CAGR of 6.7% during the forecast period, owing to shift in consumer preference toward synthetic lubricants as they offer superior properties including thermal stability, wear & tear protection, heavy load holding capacity, and low friction. However, Asia-Pacific accounted for the highest share with nearly half of the global ethylene carbonate market in 2019, and is expected to continue its highest contribution by 2027. This is attributed to increased automotive sector and increase in the electric vehicle industry.

Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/ethylene-carbonate-market/purchase-options

Related Reports:

Diethylene Glycol (DEG) Market : https://www.alliedmarketresearch.com/diethylene-glycol-market-A11632

Ethylene Dichloride Market : https://www.alliedmarketresearch.com/ethylene-dichloride-market-A15914

Hexamethylenediamine Market : https://www.alliedmarketresearch.com/hexamethylenediamine-market-A15602

Crystalline Polyethylene Terephthalate Market : https://www.alliedmarketresearch.com/crystalline-polyethylene-terephthalate-market-A13830

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn