Press release
Ethylene Carbonate Market is projected reach USD 788 million in 2029 growing at a CAGR of 6.4% during 2022-2029 | Size, Share & Industry Forecast
Ethylene Carbonate Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/ethylene-carbonate-market-analysis-industry-research/
The factors driving the growth of Ethylene Carbonate Market includes growing demand for lithium-ion batteries and increasing application of Ethylene Carbonate in oil and gas, consumer electronics and automotive industry and rising sales of Electric Vehicles around the world. Moreover, the growing use of Ethylene Carbonate as a solvent in resins, adhesives & sealants, and increasing environment concerns about global warming and depletion of fossil fuels around the world, are pushing the demand for Ethylene Carbonate solutions. In addition, rapid urbanization, rising disposable incomes and increasing economic activities in the emerging economies such as China, Brazil, and South Korea, are expected to boost the market growth in the approaching year.
However, the growth of Ethylene Carbonate Market is hindered due to fluctuations in the prices of raw materials.
The prominent players operating in the market are New Japan Chemical Co., Ltd., Asahi Kasei Corporation, BASF SE, TOAGOSEI CO., LTD., Huntsman International LLC, Donghai Industries, Alchem Chemical Company, Alfa Aesar, OUCC and Mitsubishi Chemical Corporation among others.
Application - Segment Analysis
Based on the application, the lubricants segment is estimated to expand at a remarkable CAGR over the forecast period due to increasing application of Ethylene Carbonate in oil and gas and automotive sector.
End-Use Industry - Segment Analysis
According to Ethylene Carbonate Market Analysis, the automotive segment is projected to grow at a promising CAGR during the forecast period attributed to growing sales of lithium-ion batteries around the world.
Regional: Segment Analysis
Based on the region, the Asia-Pacific region is projected to grow at a faster CAGR during the forecast period. The increasing application of Ethylene Carbonate in automotive and healthcare industry, reduced labor cost and Government policies for pushing the manufacturing of electric vehicles, are propelling the market growth in the Asia-Pacific region. The Production Linked Incentive scheme implemented by Government of India aims at increasing the production of Advanced Chemistry Cell (ACC), which will boost the demand for electric vehicles.
Market Segmentation
Global Ethylene Carbonate Market by Application
Surface Coatings
Plasticizers
Lubricants
Lithium Battery Electrolytes
Others
Global Ethylene Carbonate Market by End-Use Industry
Automotive
Oil & Gas
Personal Care & Hygiene
Healthcare
Others
Global Ethylene Carbonate Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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