The Global Ethylene Carbonate Market size is estimated at USD 0.94 billion in 2023, and is expected to reach USD 1.49 billion by 2028, growing at a CAGR of 9.58% during the forecast period (2023-2028).
Ethylene carbonate output and consumption have been affected by COVID-19. Due to lockdowns, production limits, and global economic recession, ethylene carbonate and other chemical demands have slowed. Ethylene carbonate and other chemicals are cheaper due to lower demand. After the pandemic, the ethylene carbonate demand increased because of lithium-ion batteries for electric cars and systems that store energy from renewable sources.
The ethylene carbonate market is partially consolidated, with a few major players dominating a significant portion of the market. Some major companies include BASF SE, Huntsman International LLC, Mitsubishi Chemical Corporation, OUCC, and Merck KGaA.
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