Lithium-ion Batteries Ethylene Carbonate Solvent Market Growth Accelerates with Expanding EV and Energy Storage Demand | Valuates Reports

Lithium-ion Batteries Ethylene Carbonate Solvent Market Size
The global market for Lithium-ion Batteries Ethylene Carbonate Solvent was valued at US$ 169 million in the year 2024 and is projected to reach a revised size of US$ 293 million by 2031, growing at a CAGR of 8.3% during the forecast period.

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The Lithium-ion Batteries Ethylene Carbonate (EC) Solvent Market is witnessing strong market growth driven by rising electric vehicle (EV) production, grid-scale energy storage expansion, and increasing demand for high-performance battery electrolytes. Ethylene carbonate is a critical solvent in lithium-ion battery electrolytes due to its high dielectric constant and ability to enhance lithium salt dissociation, thereby improving battery efficiency and cycle life. As global decarbonization policies accelerate electrification initiatives, the overall market size continues to expand, significantly strengthening competitive market share among key chemical producers. Market trends indicate increasing investment in high-purity solvent production to meet stringent battery-grade requirements.

By type, the High Purity Grade segment holds a dominant market share due to strict performance and safety standards in EV and advanced energy storage batteries. Manufacturers prioritize ultra-low impurity levels to ensure long-term battery stability and performance, driving premium pricing and larger market size for this category. Meanwhile, the General Grade segment maintains stable market growth, primarily used in industrial applications and certain intermediates where ultra-high purity is not mandatory. However, the long-term market forecast favors higher adoption of high-purity variants as battery technology evolves.

In terms of application, Lithium Battery Electrolytes account for the largest market share, as ethylene carbonate is a core component in electrolyte formulations for EV batteries, consumer electronics, and stationary storage systems. The Intermediates and Agents segment contributes a moderate portion of market size, serving chemical synthesis and specialty formulations. Other applications continue to provide incremental market growth, but electrolyte demand remains the principal driver shaping current market trends.

Leading companies operating in this competitive landscape include Mitsubishi Chemical Group, New Japan Chemical, BASF, Huntsman, TOAGOSEI, OUCC, OXIRAN, Lixing Chemical, Zhongke Hongye, Haike, Shandong Shida Shenghua, Kong Lung, and Hengyang New Energy. These companies compete based on production capacity expansion, purity enhancement technologies, supply chain integration, and long-term contracts with battery manufacturers to secure market share.

Regionally, Asia-Pacific dominates global production and consumption, particularly China, Japan, and South Korea, where large-scale battery manufacturing ecosystems are concentrated. China leads in overall market size due to rapid EV adoption and vertically integrated battery supply chains. Europe is witnessing strong market growth, supported by local gigafactory investments and EU battery regulations promoting regional sourcing. North America is expanding steadily with increasing EV manufacturing capacity in the United States and Canada. Southeast Asia and Latin America are emerging markets with gradual increases in battery assembly operations.

Looking ahead, the market forecast remains highly optimistic as EV penetration rates rise, solid-state battery research advances, and large-scale renewable energy storage projects expand. Continuous innovation in electrolyte formulations and increasing demand for high-purity battery materials are expected to drive sustained long-term market growth and evolving market trends worldwide.

by Type

• General Grade
• High Purity Grade

by Application

• Lithium Battery Electrolytes
• Intermediates and Agents
• Others

By Company

Mitsubishi, New Japan Chemical, BASF, Huntsman, TOAGOSEI, OUCC, OXIRAN, Lixing Chemical, Zhongke Hongye, Haike, Shandong Shida Shenghua, Kong Lung, Hengyang New Energy

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