Global Ethylene Carbonate Market - 2024-2031

Global Ethylene Carbonate Market - 2024-2031

Global Ethylene Carbonate Market reached US$ 465.3 million in 2023 and is expected to reach US$ 1,135.7 million by 2031 growing with a CAGR of 11.8% during the forecast period 2024-2031. The Asia-Pacific is increasingly dominating due to the strong economic growth in the region over the last few years, with the region quickly becoming known as the world’s premier hub for finance, trade and industry. In particular, China is the major nation, with the country becoming the leader in ethylene carbonate production

The demand is also being driven by its use in lithium-ion batteries due to its ability to provide a safe and efficient solvent and a more flexible separator which helps to improve the performance and life of lithium-ion batteries especially in the automotive and consumer electronics industries. Furthermore, ethylene carbonate technology is a field of study that utilizes a unique combination of ceramic compounds and other materials to create thermal insulation systems. The technology has been used in various Application, including the manufacture of solar cells and batteries.

It is widely used as a solvent in various industrial and pharmaceutical applications, including battery electrolytes, coatings and pharmaceutical excipients. Furthermore, the market appears to be very positive and the demand is set to increase significantly, because of the development of advanced production technology, allowing for more efficient production, as well as increased demand for ethylene carbonate in various industries such as battery electrolytes, coatings and pharmaceutical excipients.

Dynamics

Exploring Ethylene Carbonate For Electric Vehicles

Use of ethylene carbonate in the automotive industry has grown significantly, which created a strong demand for the compound, as it has been used as an ideal replacement for flammable solvents in electric vehicles. Its excellent chemical stability, low volatility and non-flammable properties make it an ideal component for batteries and fuel cells used in electric vehicles. It is also used as a coolant in fuel cells. Its excellent dielectric properties make it an ideal choice for cooling fuel cells, which require precise temperature control to operate efficiently.

Ethylene carbonate is been shown as the most important material used in the lithium ion battery market, majorly due to its ability to reduce lithium plating and improve cycle life. Lithium ion batteries is majorly showing its application in automotive industry, such as electric vehicles , plug-in hybrids and hybrids, due to their superior energy density, higher power capability and longer operational life.

Applications Of Ethylene Carbonate In Different Industries

It is mainly driven by its diverse use in the pharma industry, chemical manufacturing and plasticizers. It is a demanding chemical due to its different Application, including thermoplastic and elastomer production and surface coatings. Furthermore, it is also used to reduce the cost of producing other chemicals, such as ethylene glycol, ethylene oxide and ethylene dichloride.

It serves as a solvent for strong hydrophobic compounds, making it an important component in formulations used in the pharmaceutical industry. It is also used as a plasticizer in various products, including elastomers, coatings, adhesives and sealants. It is used in a wide range of products as a major component in the production like polyethylene terephthalate, polypropylene, polystyrene and polyvinyl chloride. It is a non-corrosive chemical which is useful in environments with high moisture.

Rising Demand Across Numerous Industries

The ongrowing demand is due to it's use in wide range of industries. It is widely used as a solvent in differnet industrial and pharmaceutical applications, like battery electrolytes, coatings and pharmaceutical excipients. It is an ideal electrolyte to use in batteries because of its relatively low melting point, which continues to maintain the battery's temperature. It also uses in composite coatings, which provide a thin layer of protection against corrosion and wear. Also, it is used in pharmaceutical excipients, as it helps to maintain drug stability.

Advancements in Production Technology

The increased use of advanced production techniques and processes made manufacturers to produce it more efficiently and cost-effectively which resulted in a decrease in production cost, which increased the demand in many industries. Also, the improved availability of raw materials like ethylene oxide and sodium carbonate making an positive impact on the global market.

Supercritical fluid process is a green chemical process used to produce ethylene carbonate. It uses a supercritical fluid as a reaction medium, allowing reaction to occur at much lower temperatures than traditional processe, Olefin metathesis is another advanced production technology used in the synthesis of ethylene carbonate. Process yields ethylene carbonate in high yields, with very little waste being produced.

Hazardous and Negative Environmental Impact

Some of the hazardous effects of include eye and skin irritation, respiratory tract irritation and an increased risk of systemic toxicity. If inhaled, it may cause central nervous system effects, such as headaches, dizziness and nausea. Long-term exposure can also cause liver and kidney damage

The environmental concerns it includes its negative effect on aquatic and terrestrial ecosystems. The compound can cause damage to marine life and plants when it is spilled into oceans, rivers and lakes. It also leaches into the soil, where it contaminates drinking water and disrupts the natural balance of the ecosystem. Also, it is flammable and releases toxic fumes when burned. It can be the cause for particularly dangerous situation in industrial settings, as the risk of an accident due to fire or explosion increases significantly.

Regulatory Implication On Production And Use Of Ethylene Carbonate

International regulations are playing a crucial role in ensuring the safe and responsible production and use of ethylene carbonate. The production and use is concened to international regulations by U.S. FDA (Food and Drug Administration) as well as regulations at the national and local level. It is important to follow the appropriate regulations for the region in which the production and use is taking place.

The production and use is only guided under experienced and responsible personnel who understanding the potential environmental impacts of its use, as well as safety protocols for production and storage. All personnel involved in the production and use of ethylene carbonate should be well trained in proper protocols and safety procedures. It should also be aware of any disposal requirements and safe handling of the product.

Segment Analysis

The global ethylene carbonate market is segmented based on form, application, end-user and region.

Industrial Application are vast and varied. It is used in the production of paints, adhesives, sealants, oil additives, flame retardants, lubricating oils and other industrial products. Also, it is used in the manufacture of batteries and other electronic components. Paints containing ethylene carbonate are often more efficient than traditional paints. Ethylene Carbonate based paints are easier to apply, dry faster and possess higher thermal stability than traditional paints. Mainly, they are more resistant to water, alkaline and other substances.

It is also resistant to corrosion, which makes it ideal for use in outdoor applications such as roofs and walls. Also, it is non-toxic and non-flammable, making it safer to use in industrial applications. In industrial sector. construction of large structures, such as boats, bridges and roads ethylene carbonate based sealants being used. Oil additives containing ethylene carbonate used to increase the viscosity of motor oil, making it a better insulator and lubricant. Ethylene carbonate based oil additives are also used to reduce engine wear and tear.

Geographical Penetration

Asia-Pacific is Growing in the Global Ethylene Carbonate Market.

The Asia-Pacific is currently growing and is expected to continue the trend majorly because of the increasing demand in countries like China, India, Japan, South Korea and Taiwan, as there is big production and consumer cycle is ongoing. The increasing demand in these countries is mainly due to the growing and rising demand for energy-efficient products. The increasing demand for fuel cells, lithium-ion batteries and surfactants is also driving the Asia-Pacific market.

Furthermore, increasing growth in industrialization and heavy investments in the petrochemical industry are expected to boost the regional market soon. Also, the growing demand for ethylene glycol is expected to boost the regional market in the upcoming years. The major players in the Asia-Pacific market are Mitsubishi Chemical Corporation, INVESTCHEM, BASF SE and Vertellus. The companies are more focused on new product development and expanding their regional footprint to capture a competitive edge in the region.

Competitive Landscape

The major global players in the market include Dow Chemical Company, Eastman Chemical Company, Chemical Corporation, Shin-Etsu Chemical Co. Ltd., LyondellBasell Industries N.V., Merck Group, The Chemours Company, Perstorp AB, Huntsman Corporation, AkzoNobel NV.

COVID-19 Impact Analysis

COVID-19 had a significant impact on the global ethylene carbonate market. As global trade and transportation was disrupted, many companies face difficulty obtaining raw materials and producing goods, which has adversely affected the production and sales of ethylene carbonate. Also, the restrictions imposed by governments and lockdown measures had decreases the demand, especially in the automotive and aviation industries, which are major consumers of ethylene carbonate.

Furthermore, the significant reduction in economic activity resulted in falling prices in the ethylene carbonate market, further reducing market growth. Analysts expected that the market still is suffering from the challenges posed by the pandemic and the resulting economic downturn. However, the long-term impacts of COVID-19 on the global ethylene carbonate market are still uncertain and the market will likely undergo changes as the situation evolves.

Russia-Ukraine War Analysis

The Russia-Ukraine War ongoing shows a significant impact on the growth of the global ethylene carbonate market in 2022. The war between the two countries led to economic sanctions on both sides, which in turn has resulted in a drop in foreign investment and trade growth. The shows a direct impact on the supply of ethylene carbonate, resulting in limited availability and high prices.

The war also made an impact on consumer confidence, which puts a negative effect on demand for ethylene carbonate. Moreover, the political tensions between Russia and Ukraine caused a lack of stability, which has further hindered the growth of the ethylene carbonate market in 2022 and 2023.

AI Impact

AI-based automation is becoming increasingly popular in the manufacturing and distribution of ethylene carbonate, which provides efficient and precise production of the material. It provides greater cost savings for companies, as well as improved product quality. AI based customer service is becoming more available which makes it easier for consumers to get the information and support they need.

AI-based systems are now being used to improve supply chain management. The includes optimizing inventory levels, coordinating logistics and tracking orders. Improved supply chain management also leads to improved efficiency and market performance. It will reduce the risk of stock outs and lost sales and also minimize the costs associated with stocking the wrong items.

By Form

● Solid

● Liquid

By Application

● Coating

● Plasticizers

● Lubricants

● Battery Electrolytes

● Others

By End-User

● Automotive

● Oil and Gas

● Pharmaceutical

● Personal care and Hygiene

● Industrial

● Others

By Region

● North America
U.S.
Canada
Mexico

● Europe
Germany
UK
France
Italy
Spain
Rest of Europe

● South America
Brazil
Argentina
Rest of South America

● Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific

● Middle East and Africa

Key Development

● On 8 February 2022, Lotte Chemical, one of the leading global chemical companies, announced the groundbreaking commencement of a new manufacturing plant located in Daesan, South Korea. With a total estimated cost of US$10.2 billion USD, the factory is expected to be the largest of its kind in the region. The new plant is expected to contribute to the local economy, in the form of employability in the local area by creating new jobs in the region.

● In July 2022, Indorama Ventures and Capchem are assign a project of carbonate solvents plant to supply the North American lithium-ion battery market with ethylene carbonate. The is an ambitious project that requires careful evaluation to ensure a successful outcome.

● On 27 December 2022, researchers at Lawrence Berkely National Laboratory used an ethylene carbonate solvent combined with sodium iodide salt to create a new kind of environmentally safe refrigerator. The new refrigerator leveraged a commonly known, naturally occurring phenomenon to achieve this breakthrough.

Why Purchase the Report?

● To visualize the global ethylene carbonate market segmentation based on the form, application, end-user and region, as well as understand key commercial assets and players.

● Identify commercial opportunities by analyzing trends and co-Development.

● Excel data sheet with numerous data points of ethylene carbonate market-level with all segments.

● The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

● Product mapping available as Excel consisting of key products of all the major players.

The Global Ethylene Carbonate Market report would provide approximately 62 tables, 57 figures and 202 Pages.

Target Audience 2024
• Government policy makers
• Alcohol manufacturers
• Renewable fuel producers
• Automobile manufacturers