Ethylene Carbonate Market 2019 Share, Size, Regional Trend, Future Growth, Leading Players Updates, Industry Demand, Current And Future Plans By Forecast To 2024
Ethylene
Carbonate Market Insights
Ethylene Carbonate is a cyclic
chemical compound which is manufactured by reaction between ethylene oxide and
carbon dioxide. It is an organic compound with fruity odor and has colorless to
yellowish solid color. This carbonate ester is a highly polar solvent and
dissolves large amount of electrolyte, largely used in lithium-ion batteries.
They possess high boiling point, high polarity, and superior solubility, which
makes it an ideal solvent for coating, dyes, plasticizer, among others.
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Based on form, the Global Ethylene Carbonate Market has
been segmented into liquid and solid. The liquid form segment dominated the
market in 2019 and is expected to register for the highest CAGR in the coming
years due to the growing consumption for the product in lithium battery
electrolytes, fiber processing agents; and solvents in coatings and dyes.
Key players:
·
OUCC
·
BASF SE
·
Mitsubishi
Chemical Corporation
·
Huntsman
International LLC
·
TOAGOSEI
CO.LTD.
·
New
Japan Chemical Co.Ltd.
·
Zibo
Donghai Industries Co.,Ltd.
·
Shandong
Senjie Cleantech Co.Ltd
·
Alchem
Chemical Company
·
Merck
KGaA
·
PANAX
ETEC
Market Segmentation
The Global Ethylene Carbonate Market has been segmented on
the basis of form, purity, application, end-use industry, and region.
On the basis of form, the global ethylene carbonate
market has been bifurcated into solid and
liquid.
By purity, the global ethylene carbonate market has been categorized divided into high purity
(>99%), medium purity (96 to 99%), and low purity (<96%).
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Based on application, the global ethylene carbonate market has
been classified lithium battery
electrolytes, lubricants, plasticizers, surface coatings, chemical
intermediate, fiber processing agents, dyes, and others.
On the basis of end-use industry, the global ethylene
carbonate market has been divided into
automotive, oil & gas, medical, personal care & hygiene, chemical,
textile, and others
The global ethylene carbonate market has been spanned across five major regions, namely,
Asia-Pacific, North America, Europe, Latin America, and
the Middle East & Africa.
Regional Analysis
Geographically, the Global Ethylene
Carbonate Market has been segmented into
five major regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle
East & Africa.
The
Asia-Pacific market accounted for the largest market share in 2017 and is
expected to be the fastest-growing market during the review period. This is
attributed to the growing automotive industry and the presence of major
manufacturing companies such as OUCC, TOAGOSEI CO., LTD., Mitsubishi Chemical Corporation, Zibo Donghai
Industries Co.,Ltd., and PANAX
ETEC. Surging demand for the product in lubricants and coatings in automotive
industry; and growing industrialization are further anticipated to propel the
regional market growth. China is the prominent country in the region owing to
large consumer base and growing consumption of the product in lithium battery
electrolytes in electric vehicles. India, Taiwan, Japan, and South Korea are
other regional contributors.
The
North American market accounted for the second-largest market share in 2017 and
is anticipated to register a significant CAGR in the coming years. This is
attributed to the growing awareness of public towards use of ethylene carbonate
in synthetic fibers. The US is the major contributor in the region owing to the
growing product innovation and due to the presence of key manufacturing
companies such as Huntsman International LLC and Alchem Chemical Company
serving the product in the automotive and textile industry.
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The
European market held a substantial market share in 2017 and is expected to
witness a healthy CAGR in the following years owing to the signficant demand
for the product as lubricants and surface coatings in automotive industry.
Germany is the leading country in the region which is followed by France,
Italy, the UK, and Russia. This is attributed to the rising R&D facilities
for bio-based plasticizers and strong automotive base in the country.
The
Latin American market held a moderate market share in 2017 and is likely to
register a steady CAGR in the coming years owing to the high consumption of the
product in personal care and hygiene industry. Brazil is the leading country in
the region followed by Mexico and Argentina due to the growing demand for the
product in medical and personal care products.
The
Middle East & Africa market accounted for a considerable market share in
2017 and is anticipated to grow at a moderate CAGR in the coming years owing to
the growing consumption of the product in oil and gas industry. UAE and Saudi
Arabia are the major countries contributing to the regional market growth.
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