Propylene Carbonate Market Size, Share & Trends Analysis Report By End Use (Paints & Coatings, Pharmaceuticals, Cosmetics & Personal Care), By Application (Solvent, Electrolyte, Catalyst), By Region, And By Segment Forecasts, 2024 - 2030

Propylene Carbonate Market Size, Share & Trends Analysis Report By End Use (Paints & Coatings, Pharmaceuticals, Cosmetics & Personal Care), By Application (Solvent, Electrolyte, Catalyst), By Region, And By Segment Forecasts, 2024 - 2030

Propylene Carbonate Market Size & Trends

The global propylene carbonate market size was estimated at USD 393.1 million in 2023 and is forecasted to grow at a CAGR of 5.6% from 2024 to 2030. This growth is attributed to the growing demand for lithium-ion batteries products. Propylene carbonate is used as an electrolyte solvent in lithium-ion batteries due to its high boiling point, stability, and low toxicity. Furthermore, the expanding electric vehicle (EV) market and increasing demand for portable electronic devices are expected to drive the product growth in battery applications.

The market is witnessing increased adoption of this product in industries like paints, coatings, and pharmaceuticals where environmental concerns are critical. Propylene carbonate is considered less hazardous compared to other solvents, making it attractive in industries facing stringent environmental regulations. In addition to this, the product is used as a solvent and carrier in cosmetics and personal care products due to its ability to enhance product stability and solubility. Therefore, rising disposable incomes and increasing consumer demand for premium personal care products are expected to fuel product growth over the coming years.

Furthermore, the development of eco-friendly production methods and sustainable sourcing of raw materials for propylene carbonate production is increasing its adoption by environmentally conscious consumers and industries seeking sustainable alternatives. Fluctuations in the prices of raw materials used in propylene carbonate production can impact production costs and profit margins, thereby creating challenges in maintaining stable pricing and profitability of manufacturers.

In addition to this, this product faces competition from alternative solvents and materials that may offer comparable or superior performance characteristics. Moreover, price competitiveness and technological advancements in substitutes could limit propylene carbonate market expansion in certain applications. Growing investments in renewable energy infrastructure create new opportunities for this product in energy storage applications. Propylene carbonate is used in renewable energy technologies such as wind and solar power systems for energy storage and efficiency enhancements. Furthermore, the development of more efficient and cost-effective production methods for the product can help in enhancing production capabilities leading to lower costs, improving product quality, and encouraging market growth.

Global Propylene Carbonate Market Report Segmentation

This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global propylene carbonate market based on the application, end use, and region:

• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Solvent
• Electrolyte
• Catalyst
• Additives
• Cleaners
• Other Applications
• End Use Outlook (Revenue, USD Million, 2018 - 2030)
• Paints & Coatings
• Pharmaceuticals
• Cosmetics & Personal Care
• Textile
• Energy & Power
• Mining
• Other End Uses
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• Central & South America
• Brazil
• Argentina
• Middle East & Africa

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