Ethylene Carbonate Market worth $475.2 million by 2027 | Key Players include Oriental Union Chemical Corporation, Huntsman, BASF, Mitsubishi Chemical, and Toagosei Co., Ltd.

According to recent market research "Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Plasticizers, Surface Coatings), End-Use Industry (Automotive, Oil & Gas, Industrial, Medical, Personal Care & Hygiene), and Region - Global Forecast to 2027", The global ethylene carbonate market is projected to grow from USD 280.3 million in 2018 to USD 475.2 million by 2027, at a CAGR of 6.0% in terms of value from 2018 to 2027. The increase in demand for high-quality ethylene carbonate produced by various companies such as Huntsman, BASF, and Mitsubishi Chemical, is the key factor driving the ethylene carbonate market.
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In terms of value, the lubricants segment is projected to lead the ethylene carbonate market during the forecast period. The increasing demand for ethylene carbonate from various end-use industries, such as industrial and automotive is driving the lubricants segment. Lubricants are used in automotive engines for collecting, cleaning, and cooling the engine of a vehicle.
The automotive segment of the ethylene carbonate is projected to grow at the highest CAGR during the forecast period, in terms of value. Increasing demand for ethylene carbonate in the automotive industry is driving the growth of this segment. Reduced emissions of Volatile Organic Compounds (VOCs) and durable protective surface coating on vehicles makes ethylene carbonate preferable in the automotive industry. There has been a consistent rise in the number of vehicles in use in Asia Pacific, Europe, and North America over the past decade, which is fueling the demand for ethylene carbonate.
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The global ethylene carbonate market is projected to grow from USD 264.8 Million in 2017 to USD 355.1 Million by 2022, at a CAGR of 6.0% in terms of value from 2017 to 2022. The Increasing demand for ethylene carbonate across various applications, such as lithium batteries electrolytes, lubricants, coatings, and plasticizers is driving the ethylene carbonate market. The growing demand for high-quality ethylene carbonate produced by various companies such as Huntsman, BASF, and Mitsubishi Chemical, is also a key factor driving its use in several end-use industries. The rising demand for lithium-ion batteries and lubricants in the emerging Asia-Pacific region, high growth in end-use industries, and a shift in consumer preference toward high-quality products are propelling the growth of the ethylene carbonate market globally. However, factors such as the global economic slowdown and volatile raw material prices are expected to restrain the market growth.
Key players in the ethylene carbonate market are Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan). These players have established their brands. Ethylene carbonate produced by these companies is consumed domestically and is further supplied to various countries such as China, Japan, New Zealand, Australia, and others within Asia Pacific.

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In 2016, Oriental Union Chemical Corporation (OUCC) accounted for the largest share in the overall ethylene carbonate market. It supplies ethylene carbonate, ethylene glycols, ethylene oxide, gas oxygen, gas nitrogen, liquid nitrogen, liquid argon, monoethanolamine, polyethylene glycol, polyoxyethylene lauryl ether, and methoxy polyethylene glycols to Taiwan and other countries in APAC. The company has a manufacturing plant in Taiwan to supply ethylene carbonate across various end-use industries of the country.
Huntsman has a vast experience in manufacturing ethylene carbonate, broad product portfolio, huge production, sales, logistics, and technical service network. The company is highly focused on R&D and has facilities in over 30 countries. It offers ethylene carbonate for various applications such as chemical intermediates, surface coatings, wood binder resins, lubricants, plasticizers, and electrolytes. The company is currently investing in advanced production technologies and carbonate derivatives to meet the demand of customers.

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