Ethyl Methyl Carbonate Market Size by Application (Li-ion Battery Electrolyte, Chemical Solvent, Pharmaceutical Intermediates, Agrochemicals) COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive

Ethyl Methyl Carbonate Market Size by Application (Li-ion Battery Electrolyte, Chemical Solvent, Pharmaceutical Intermediates, Agrochemicals) COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

Global Ethyl Methyl Carbonate Market is set to witness significant growth through 2032, primarily owing to the increasing demand for EVs and expanding pharmaceutical intermediates sector in Europe. As per reports, in 2021, the electric vehicle registrations in the region increased to 1,729,000 from 2020’s figure of 1,061,000, depicting an increase of more than 17.5% within a year. In addition, the growing electronics sales and rising consumer spending in the Latin America region will further bolster the market value during the next ten years.

Furthermore, the key players in the ethyl methyl carbonate market are also seeking to strengthen their foothold in the industry by expanding their portfolio and entering meaningful mergers and acquisitions. To cite an instance, in August 2022, Indorama Ventures Public Company Limited announced entering into an agreement with Capchem Technology Inc.

Under the pact, the firm will study the opportunity to begin a lithium-ion battery solvents plant. The firm also claimed that the study would benefit the lithium-ion battery market in the North America and may further reduce its dependency on Asia. This will enable the major lithium-ion battery manufacturers in the region to cater to the increasing demand for electronic vehicles across the American countries.

Overall, the ethyl methyl carbonate market is bifurcated in terms of application and region.

On the basis of application, the ethyl methyl carbonate market is likely to be characterized by the Li-ion battery electrolyte segment, which is anticipated to grow at 18% CAGR through 2032. During the latest COVID-19 pandemic, the supply of batteries and other components was heavily disrupted, due to a lack of availability of critical raw materials, especially from countries such as China. However, with the economy getting back on track, the demand for lithium-ion batteries steadily rose. The continuing high demand for lithium batteries will drive the market demand through 2032.

In the regional context, the demand for ethyl methyl carbonate is set to expand at 18% CAGR by 2032 across the Asia Pacific countries. The regional market growth will be propelled by the increasing demand for electronic goods and automobiles. The adoption for polycarbonate synthesis has as well increased in countries such as Japan and China, and this sustained demand will add impetus to the demand for ethyl methyl carbonates during the next decade. As per reports, the electrical and optical equipment market has increased from 37.1% in 2020 to more than 56% in 2021.