Ethylene Carbonate Market

Ethylene Carbonate Market Size-(2023-2028)

Ethylene Carbonate Market is projected to escalate from $ 320 million in 2022 to $ 438 million in 2028, at an annual rate of 6.3% during the outlook period 2023-2028

Ethylene carbonate is a chemical composite that is organic and present in a colorless to yellowish solid type with the smell of fruits. The compound is essentially an ester of carbonic acid and ethylene glycol. It is made by a chemical reaction between carbon dioxide and ethylene oxide. Ethylene carbonate can be classified as a very polar solvent that dissolves a large number of electrolytes. Ethylene carbonate is mainly used in lithium batteries as an electrolytic solution. Also, it has better solubility, higher polarity, and a higher boiling point compared to other traditionally used solvents. Ethylene carbonate is used in different oil and gas processes, like acidification, rehabilitation, and finishing processes. It binds to oxide, tartar, and particles in wells and forms metal ion complexes, forming a soluble salt. This salt can be readily withdrawn from the well. In addition, it breaks down carbonates and viscosity-enhancing chemicals due to its good acidification properties. Therefore, the use of the product ensures economical cleaning by providing a low-cost metal complexing agent in an easily biodegradable form. It can be used with hydrochloric or sulfamic acids to prevent iron precipitation in cleaning operations or water flooding.

The main factors driving the ethylene carbonate industry include its escalating call in Asia-Pacific and it's escalating consumption in different applications. Ethylene carbonate is a light yellowish solid with a unique smell. It has a comparably higher polarity, better solubility, and a higher boiling point in comparison to that of traditionally utilized solvents. An additional benefit is its low toxicity.

Recent Developments and Trends

Japanese company Asahi Kasei Chemicals (AKC) is planning to make the latest validation industry at the Mizushima-making building in Kurashiki for its latest diphenyl carbonate (DPC) production procedure.

Ethylene Carbonate Market Drivers and Restraints

The escalated call for ethylene carbonate in lithium batteries as an electrolytic liquid is a significant reason that is probable to augment the global ethylene carbonate industry in the future years. Lithium batteries are more efficient compared to other traditional lead-acid batteries since lithium batteries are lighter and require less energy to charge. This, on the other hand, boosts the call for lithium batteries which is predicted to boost the ethylene carbonate industry in the coming years. Lithium batteries are employed in customer electronics and vehicles. Ethylene carbonate has a variety of other applications, like acting as a crosslinking agent in the production of superabsorbent polymers, as a solvent for lubricants, as an intermediary in polycarbonate synthesis, and as a separator in oilfield processes and fields. These are some of the factors that are likely to accelerate the expansion of the ethylene carbonate market over the conjecture period.

Nevertheless, overheating lithium batteries can be a reason that would hamper the worldwide ethylene carbonate industry in the foreseen period. The worldwide ethylene carbonate industry is mainly boosted by the high employment of ethylene carbonate as an electrolyte in lithium-ion batteries. The escalating shift towards the use of electric vehicles is due to benefits like profitability, ease of maintenance, reduced fuel costs, and fuel consumption. The lawsuit is backed by strict regulations set by the US Environmental Protection Agency and EU environmental regulations to limit CO2 emissions, which are expected to fuel calls for lithium-ion batteries. However, fluctuating commodity prices is one of the main factors believed to slow down market expansion. Nonetheless, the advent of lithium-sulfur batteries is considered as an excellent opportunity for business development in the future.

ETHYLENE CARBONATE MARKET REPORT COVERAGE

Ethylene Carbonate Market Segmentation as per the research report until 2028:

Ethylene Carbonate Market - By Application:

• Lubricants

• lithium battery electrolytes

• Plasticizers

• Surface coatings

• Others

The lubricant segment accounted for the largest share in 2021. The expansion of this segment is attributed to the increasing call from different end-use businesses, like industry and automotive. They are used in automotive engines as coolants and cleaners. 

Ethylene Carbonate Market - By End-use:

• Automotive

• Industrial

• Medical

• Oil & gas

• Personal care & hygiene

• Others

The automotive segment accounted for the majority of the market in 2021 and is likely to experience significant expansion during the outlook period. The escalation in this segment is attributed to the requirements of different manufacturers, like the reduction of emissions of volatile organic compounds (VOCs) and the durable surface protective coating on vehicles.

Ethylene Carbonate Market - By Region:

• North America Ethylene Carbonate Industry includes U.S., and Canada.

• Europe Ethylene Carbonate Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Ethylene Carbonate Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & the Rest of APAC.

• Latin America Ethylene Carbonate Industry includes Brazil, Mexico, Argentina, Chile & the Rest of LATAM.

• Middle East & Africa Ethylene Carbonate Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

APAC is expected to be the main market for ethylene carbonate during the calculated period. The expansion in the Asia Pacific region can be credited to the escalating call for ethylene carbonate applications from different end-use businesses, including industry, automotive, and oil and gas. The presence of a strong industrial base, favorable government policies, and low labor costs, as well as the increasing call for ethylene carbonate in the region, are factors that stimulate growth in the ethylene carbonate industry, attracting main players to invest in the local market.

The Asia Pacific is expected to experience the highest expansion rate in the global ethylene carbonate market. This regional expansion can be attributed to a greater number of automotive and other industrial facilities in the area. The escalating call for lubricants by manufacturing businesses should further stimulate this regional market during the estimated period. North America is expected to offer significant expansion opportunities in the global ethylene carbonate market in the future due to escalated consumer and public awareness of ethylene carbonate as a synthetic fiber over the coming years.

Major Key Players In the Ethylene Carbonate Market:

1. Oriental Union Chemical Corporation (Taiwan)

2. Huntsman (US)

3. BASF (Germany)

4. Mitsubishi Chemical (Japan)

5. Toagosei Co., Ltd. (Japan)