Summary

The global ethylene carbonate market will rise from USD 0.8 billion in 2024 to USD 1.5 billion by 2029, at a CAGR of 14.4% from 2024 to 2029. The growth in the industrial sector drives the ethylene carbonate industry. Industrial machinery requires lubricants for smooth functioning and reduced wear & tear. Also, many machines utilize surface coatings to reduce the risk of rusting and chemical attack. These manufacturers of lubricants and surface coatings increasingly use ethylene carbonate as a highly polar solvent. Moreover, increased demand for electric vehicles has pushed for battery electrolyte requirements, translating into growth for the ethylene carbonate market. However, factors such as the scarcity of raw materials and regulations on the use of ethylene carbonates are likely to hinder the market's growth.

“The rapid growth of the liquid form is primarily attributed to its excellent polar solvency capacity.”

The ethylene carbonate market is segmented into solid and liquid forms, with the liquid form expected to experience the fastest growth rate during the forecast period. Liquid ethylene carbonate is a highly polar solvent capable of effectively dissolving significant solutes, including electrolytes and various chemicals. As a result, it has extensive applications in industries such as lithium battery electrolytes and solvents and as a reagent in multiple processes.

“Lithium battery electrolytes accounted for the larger share of the ethylene carbonate market primarily due to the rapid growth in demand for lithium-ion batteries.”

The ethylene carbonate market is segmented based on applications such as lubricants, lithium battery electrolytes, plasticizers, surface coatings, etc. Among these applications, lithium battery electrolytes accounted for the larger share of the market in 2023. Lithium-ion batteries are extensively used in various applications such as consumer electronics, electric vehicles, and energy storage systems. Ethylene carbonate is a crucial component in the formulation of electrolytes for lithium-ion batteries due to its ability to improve the performance and stability of these batteries. As the market for lithium-ion batteries expands globally, driven by the shift towards electric mobility and renewable energy solutions, the demand for ethylene carbonate as a key electrolyte material has correspondingly increased, contributing to its significant market share.

“The increasing adoption of electric vehicles has driven the demand for ethylene carbonate within the automotive sector.”

The automotive sector thrives as manufacturers strive to reduce volatile organic compounds (VOCs) emissions, contributing to smog formation. Efforts include adopting lightweight materials like plastics, leading to increased demand for plasticizers such as ethylene carbonate. Additionally, the global adoption of electric vehicles has steadily risen over the past five years, driving sales of ethylene carbonate, particularly in applications such as lubricants and battery electrolytes within the automotive industry.

“Asia Pacific is projected to experience the highest growth rate in the forecast period.”

Asia Pacific is anticipated to achieve the highest growth rate in the forecast period, driven by countries like China, Japan, South Korea, and India, which are prominent hubs for manufacturing batteries, lubricants, paints, and coatings. The economic growth in these significant countries has spurred expansion in the industrial and automotive sectors, fostering increased demand for ethylene carbonate across diverse applications. Meanwhile, Europe is expected to hold the second-largest market size by the end of the forecast period.

Breakdown of primary interviews for the report on the ethylene carbonate market
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ethylene carbonate marketplace.
• By Company Type - Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
• By Designation - C Level: 21%, Directors: 23%, Others: 56%
• By Region – North America: 45%, Europe: 27%, APAC: 15%, Middle East & Africa: 6% and South America: 7%

The ethylene carbonate market comprises significant solution providers, such as Oriental Union Chemical Corporation (Taiwan), Huntsman (US), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan). The study includes an in-depth competitive analysis of these key players, with their company profiles and key market strategies.

Research Coverage:

The report defines, segments, and projects the ethylene carbonate market size-based derivative, application, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as new product development, agreements, acquisitions, and expansions they undertake in the market.

Reasons to Buy the Report:

The report will help market leaders and new entrants with information on the closest approximations of the revenue numbers for the overall ethylene carbonate market and the subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of critical drivers (Growing demand for ethylene carbonate in lithium battery electrolyte and lubricant applications), restraints (Volatility in raw material prices), opportunities (Emergence of lithium-sulfur batteries), and challenges (Fluctuating oil & gas prices) influencing the growth of the ethylene carbonate market.

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the ethylene carbonate market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the ethylene carbonate market across varied regions.

• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the ethylene carbonate market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Oriental Union Chemical Corporation (Taiwan), Huntsman (US), Shandong Shida Shenghua Chemical Group Co., Ltd. (China), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan) are the leading ethylene carbonate players, globally. Asahi Kasei (Japan), New Japan Chemical Co. Ltd (Japan), Zibo Donghai Industries Co. Ltd. (China), and Shandong Senjie Cleantech Co. Ltd (China), among others, in the ethylene carbonate market.

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Table of Contents

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.2.1 INCLUSIONS & EXCLUSIONS OF STUDY 25
1.3 MARKET SCOPE 27
1.3.1 ETHYLENE CARBONATE MARKET SEGMENTATION 27
1.3.2 REGIONAL SCOPE 27
1.3.3 YEARS CONSIDERED 28
1.4 CURRENCY 28
1.5 UNITS CONSIDERED 28
1.6 LIMITATIONS 28
1.7 STAKEHOLDERS 28
1.8 SUMMARY OF CHANGES 29
2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
2.1.1 SECONDARY DATA 31
2.1.1.1 Key data from secondary sources 31
2.1.2 PRIMARY DATA 31
2.1.2.1 Key data from primary sources 32
2.1.2.2 Key insights 32
2.1.2.3 List of participating companies for primary research 33
2.1.2.4 Breakdown of primary interviews 33
2.2 BASE NUMBER CALCULATION 34
2.2.1 SUPPLY-SIDE APPROACH 34
2.2.2 DEMAND-SIDE APPROACH–1 34
2.2.3 DEMAND-SIDE APPROACH–2 35
2.3 MARKET SIZE ESTIMATION 35
2.3.1 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 36
2.3.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 36
2.4 DATA TRIANGULATION 37
2.5 ASSUMPTIONS 38
2.6 LIMITATIONS & RISK ASSESSMENT 38
2.7 IMPACT OF RECESSION 39
3 EXECUTIVE SUMMARY 40
 
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES IN ETHYLENE CARBONATE MARKET 44
4.2 ETHYLENE CARBONATE MARKET, BY FORM, 2024 VS. 2029 (TON) 44
4.3 ASIA PACIFIC: ETHYLENE CARBONATE MARKET, BY APPLICATION AND COUNTRY (2023) 45
4.4 ETHYLENE CARBONATE MARKET: MAJOR COUNTRIES 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 47
5.2.1.1 Growing demand in lithium-ion battery electrolyte and
lubricant applications 47
5.2.1.2 Massive industrial growth in Asia Pacific and Africa 47
5.2.2 RESTRAINTS 48
5.2.2.1 Volatility in raw material prices 48
5.2.2.2 Use of highly toxic raw materials in production of ethylene carbonate 48
5.2.3 OPPORTUNITIES 49
5.2.3.1 Emergence of lithium-sulfur batteries 49
5.2.3.2 Increasing use of bio-based plasticizers 49
5.2.4 CHALLENGES 49
5.2.4.1 Fluctuating oil & gas prices 49
5.3 PORTER’S FIVE FORCES ANALYSIS 50
5.3.1 BARGAINING POWER OF SUPPLIERS 51
5.3.2 THREAT OF NEW ENTRANTS 51
5.3.3 THREAT OF SUBSTITUTES 51
5.3.4 BARGAINING POWER OF BUYERS 52
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 52
5.4 SUPPLY CHAIN ANALYSIS 52
5.5 CASE STUDY ANALYSIS 53
5.6 PRICING ANALYSIS 53
5.6.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION 53
5.7 TRADE ANALYSIS 55
5.7.1 IMPORT SCENARIO 55
5.7.2 EXPORT SCENARIO 56
5.8 PRODUCTION COST ANALYSIS 57
5.9 REGULATORY LANDSCAPE 59
5.9.1 INTRODUCTION 59
5.9.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 59
5.10 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 61
5.11 INVESTMENT AND FUNDING SCENARIO 62
 
5.12 ECOSYSTEM/MARKET MAP OF ETHYLENE CARBONATE 63
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 64
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 65
5.13.2 BUYING CRITERIA 65
5.14 PATENT ANALYSIS 66
5.14.1 MAJOR PATENTS 67
5.15 TECHNOLOGY ANALYSIS 68
5.15.1 KEY TECHNOLOGIES 68
5.15.1.1 Epoxidation of ethylene 68
5.15.1.2 Direct synthesis via urea alcoholysis 68
5.15.1.3 Electrochemical reduction 68
5.15.2 COMPLEMENTARY TECHNOLOGIES 69
5.15.2.1 Catalyst regeneration techniques 69
5.15.2.2 Heat recovery systems 69
5.15.2.3 Process simulation software 69
5.15.3 ADJACENT TECHNOLOGIES 69
5.15.3.1 Carbon capture and utilization 69
5.15.3.2 Biomass to chemicals 69
5.15.3.3 Advanced catalysis 70
5.16 KEY CONFERENCES AND EVENTS IN 2024–2025 70
6 ETHYLENE CARBONATE MARKET, BY FORM 71
6.1 INTRODUCTION 72
6.2 SOLID 73
6.2.1 USAGE IN MULTIPLE APPLICATIONS TO DRIVE MARKET 73
6.3 LIQUID 73
6.3.1 GROWING USE IN LITHIUM-ION BATTERY ELECTROLYTES TO PROPEL MARKET 73
7 ETHYLENE CARBONATE MARKET, BY APPLICATION 74
7.1 INTRODUCTION 75
7.2 LITHIUM BATTERY ELECTROLYTES 77
7.2.1 INCREASING DEMAND FOR ELECTRIC VEHICLES TO DRIVE MARKET 77
7.3 LUBRICANTS 78
7.3.1 INCREASED USE IN VARIOUS INDUSTRIES TO SUPPORT ADOPTION 78
7.4 SURFACE COATINGS 80
7.4.1 INCREASING USE OF SURFACE COATINGS IN END-USE INDUSTRIES
TO DRIVE MARKET 80
7.5 PLASTICIZERS 82
7.5.1 INCREASED DEMAND FOR POLYVINYL CARBONATE MANUFACTURING
TO SUPPORT MARKET GROWTH 82
7.6 OTHER APPLICATIONS 83
 
8 ETHYLENE CARBONATE MARKET, BY END-USE INDUSTRY 86
8.1 INTRODUCTION 87
8.2 AUTOMOTIVE 89
8.2.1 GROWING DEMAND FOR LITHIUM-ION BATTERIES IN ELECTRIC VEHICLES
TO DRIVE MARKET 89
8.3 INDUSTRIAL 90
8.3.1 DEMAND FOR ETHYLENE CARBONATE AS LUBRICANT STABILIZER
TO BE STEADY 90
8.4 OIL & GAS 92
8.4.1 INCREASING INVESTMENTS IN CHEMICAL & PETROCHEMICAL PROJECTS
TO SUPPORT MARKET GROWTH 92
8.5 MEDICAL 94
8.5.1 INCREASED USAGE IN MEDICAL DIAGNOSIS AS NANOPARTICLES
TO PROPEL MARKET 94
8.6 PERSONAL CARE & HYGIENE 95
8.6.1 INCREASING PER CAPITA SPENDING TO DRIVE GROWTH 95
8.7 OTHER END-USE INDUSTRIES 97
9 ETHYLENE CARBONATE MARKET, BY REGION 99
9.1 INTRODUCTION 100
9.2 ASIA PACIFIC 102
9.2.1 RECESSION IMPACT 103
9.2.2 CHINA 108
9.2.2.1 High demand for electric vehicles to drive market 108
9.2.3 JAPAN 110
9.2.3.1 Rising demand for lithium-ion batteries to propel market 110
9.2.4 SOUTH KOREA 112
9.2.4.1 Rising demand from automotive industry to drive market 112
9.2.5 TAIWAN 114
9.2.5.1 Increasing exports of ethylene carbonate to support market growth 114
9.2.6 REST OF ASIA PACIFIC 115
9.3 EUROPE 117
9.3.1 RECESSION IMPACT 118
9.3.2 GERMANY 123
9.3.2.1 Robust automotive industry to boost market 123
9.3.3 UK 124
9.3.3.1 Growing demand for lithium battery electrolytes and lubricants
to drive market 124
9.3.4 FRANCE 126
9.3.4.1 Rising demand from chemical industry to boost market 126
9.3.5 ITALY 128
9.3.5.1 Increased investments in chemical industry to support market growth 128
 
9.3.6 TURKEY 130
9.3.6.1 Growth in automotive industry to drive market 130
9.3.7 RUSSIA 131
9.3.7.1 Growth in oil & gas and automotive industries to propel market 131
9.3.8 REST OF EUROPE 132
9.4 NORTH AMERICA 134
9.4.1 RECESSION IMPACT 135
9.4.2 US 139
9.4.2.1 Increasing production of battery electrolytes to drive market 139
9.4.3 CANADA 140
9.4.3.1 Increasing use of ethylene carbonate in diversified applications
to propel market 140
9.4.4 MEXICO 142
9.4.4.1 Growing number of automobile manufacturing facilities
to aid market growth 142
9.5 MIDDLE EAST & AFRICA 144
9.5.1 RECESSION IMPACT 144
9.5.2 GCC COUNTRIES 148
9.5.2.1 UAE 148
9.5.2.1.1 Increasing applications in automotive industry
to aid market growth 148
9.5.2.2 Saudi Arabia 150
9.5.2.2.1 Rising chemical exports to drive market 150
9.5.2.3 Rest of GCC countries 152
9.5.3 SOUTH AFRICA 153
9.5.3.1 Increasing demand from medical industry to drive demand 153
9.5.4 REST OF MIDDLE EAST & AFRICA 155
9.6 SOUTH AMERICA 156
9.6.1 RECESSION IMPACT 156
9.6.2 BRAZIL 161
9.6.2.1 Rise in automobile manufacturing to favor market growth 161
9.6.3 ARGENTINA 162
9.6.3.1 Manufacturing sector contributes significantly to GDP 162
9.6.4 REST OF SOUTH AMERICA 164
10 COMPETITIVE LANDSCAPE 166
10.1 OVERVIEW 166
10.2 STRATEGIES ADOPTED BY KEY PLAYERS 166
10.2.1 OVERVIEW OF STRATEGIES ADOPTED BY ETHYLENE CARBONATE MANUFACTURERS 166
10.3 REVENUE ANALYSIS 167
10.4 MARKET SHARE ANALYSIS 168
10.4.1 RANKING OF KEY PLAYERS 170
10.5 BRAND/PRODUCT COMPARISON ANALYSIS 171
10.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 172
10.6.1 STARS 172
10.6.2 EMERGING LEADERS 172
10.6.3 PERVASIVE PLAYERS 172
10.6.4 PARTICIPANTS 173
10.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 174
10.6.5.1 Company footprint 174
10.6.5.2 Application footprint 174
10.6.5.3 Form footprint 175
10.6.5.4 End-use industry footprint 176
10.6.5.5 Region footprint 176
10.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 177
10.7.1 PROGRESSIVE COMPANIES 177
10.7.2 RESPONSIVE COMPANIES 177
10.7.3 DYNAMIC COMPANIES 177
10.7.4 STARTING BLOCKS 177
10.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 179
10.8 VALUATION AND FINANCIAL METRICS OF ETHYLENE CARBONATE MANUFACTURERS 181
10.9 COMPETITIVE SCENARIO 182
10.9.1 DEALS 182
10.9.2 EXPANSIONS 183
10.9.3 OTHER DEVELOPMENTS 183
11 COMPANY PROFILES 184
(Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Deals, Key strengths, Strategic choices, Weaknesses and competitive threats) *
11.1 INTRODUCTION 184
11.2 KEY PLAYERS 184
11.2.1 ORIENTAL UNION CHEMICAL CORPORATION 184
11.2.2 MITSUBISHI CHEMICAL GROUP CORPORATION 187
11.2.3 HUNTSMAN INTERNATIONAL LLC 190
11.2.4 TOAGOSEI CO., LTD. 194
11.2.5 SHIDA SHENGHUA NEW MATERIALS GROUP CO., LTD. 197
11.2.6 SHANDONG SENJIE CLEANTECH CO., LTD. 199
11.2.7 DUBI CHEM MARINE INTERNATIONAL 200
11.2.8 ZIBO DONGHAI INDUSTRIES CO., LTD. 201
11.2.9 TOKYO CHEMICAL INDUSTRY CO., LTD. 202
11.2.10 TAIXING TAIDA FINE CHEMICAL CO., LTD. 203
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Deals, Key strengths, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.
11.3 OTHER PLAYERS 204
11.3.1 EMPOWER MATERIALS 204
11.3.2 ZHENGZHOU MEIYA CHEMICAL PRODUCTS CO., LTD. 205
11.3.3 OTTO CHEMIE PVT. LTD. 206
11.3.4 VIZAG CHEMICAL INTERNATIONAL 207
11.3.5 FUJIFILM WAKO PURE CHEMICAL CORPORATION 207
11.3.6 RX MARINE INTERNATIONAL 208
11.3.7 ANTARES CHEM PRIVATE LIMITED 208
11.3.8 SHANDONG LIXING CHEMICAL CO., LTD. 209
11.3.9 DONGYING HI-TECH SPRING CHEMICAL INDUSTRY CO., LTD. 209
11.3.10 HEFEI TNJ CHEMICAL INDUSTRY CO., LTD. 210
12 ADJACENT AND INTERCONNECTED MARKETS 211
12.1 INTRODUCTION 211
12.2 LIMITATIONS 211
12.3 INTERCONNECTED MARKETS 211
12.3.1 DIMETHYL CARBONATE MARKET 211
12.3.1.1 Market definition 211
12.3.1.2 Market overview 211
12.3.2 DIMETHYL CARBONATE MARKET, BY GRADE 212
12.3.2.1 Industrial grade (>99.0% weight) 212
12.3.2.1.1 Expanding electronics and automotive industries
to drive market 212
12.3.2.2 Pharmaceutical grade (>99.5% weight) 214
12.3.2.2.1 Presence of large number of leading players
to support market growth 214
12.3.2.3 Battery grade (>99.9% weight) 216
12.3.2.3.1 Growing demand for electric vehicles to drive market 216
13 APPENDIX 218
13.1 DISCUSSION GUIDE 218
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 222
13.3 CUSTOMIZATION OPTIONS 224
13.4 RELATED REPORTS 224
13.5 AUTHOR DETAILS 225