Ethylene Carbonate Market

Market Overview:

The global ethylene carbonate market size reached USD 344.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 532.4​​​​​​​ Million by 2033, exhibiting a growth rate (CAGR) of 4.7% during 2025-2033. The rising focus on renewable energy like wind and solar power, expansion of the automotive sector, increasing applications in coating and adhesives, and advancements in chemical manufacturing processes are various factors impelling the top region market share.

Ethylene carbonate (C3H4O3) is a polar solvent with low toxicity and high boiling point and solubility for polymers. It is a clear crystalline solid, which is odorless and only slightly soluble in water. It forms a soluble salt by bonding with rust and particles found in oil and gas wells and complexing the metal ions. In addition, it decomposes the carbonates and viscosity-enhancing compounds due to its attribute of acidification. It is widely used in lithium battery electrolytes, strip solvents, fiber processing agents, capacitor electrolytes, lubricants, soil hardening agents, organic solvents, raw material for organic synthesis, and medical products.

Ethylene Carbonate Market Trends:

Increasing Applications in Coatings and Adhesives

Ethylene carbonate's versatile properties make it an essential component in various coatings, adhesives, and sealants. Its excellent solvency, low volatility, and ability to enhance adhesion performance are particularly valuable in the construction and automotive industries. Ethylene carbonate contributes to improved product durability, flexibility, and resistance to environmental factors. In line with this, the growing demand for high-quality coatings and adhesives due to the rising number of residential and commercial spaces is offering a favorable ethylene carbonate market outlook. Apart from this, the increasing employment of ethylene carbonate in specialty coatings such as those for electronic devices is supporting the market growth.

Expansion of the Automotive Sector

The automotive sector's transition towards electric and hybrid vehicles is bolstering the market growth. People are increasingly preferring electric vehicles (EVs) due to environmental concerns. In addition, there is a rise in the need for advanced battery technologies for optimal performance. Besides this, governing agencies of various countries are undertaking initiatives aimed at reducing carbon emissions and promoting sustainable transportation options, which is helping in increasing ethylene carbonate market share. They are also offering subsidies for the adoption of EVs to lower carbon footprint in the environment. The growing investment in EV infrastructure such as charging stations and battery recycling is influencing the market positively. Furthermore, manufacturers are increasingly focused on developing batteries with higher energy densities and longer lifespans. As per the International Energy Agency (IEA), EV sales are expected to reach 17 million by the end of 2024.

Growing Focus on Renewable Energy

The global shift towards renewable energy sources is significantly driving the market. As countries strive to meet carbon neutrality goals and combat climate change, the demand for efficient energy storage solutions, particularly in the form of batteries, is escalating. Ethylene carbonate plays a critical role in lithium-ion batteries, which are pivotal for storing energy generated from renewable sources such as solar and wind. The expansion of renewable energy projects necessitates advanced battery technologies for grid storage and EVs, directly influencing the demand for ethylene carbonate. Furthermore, favorable government initiatives and adoption of sustainable practices and technologies are strengthening the ethylene carbonate market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global ethylene carbonate market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on form, application and end use industry.

Breakup by Form:

• Solid
• Liquid
   

Breakup by Application:

• Lubricants
• Surface Coatings
• Plasticizers
• Lithium Battery Electrolytes
• Others
   

Breakup by End Use Industry:

• Automotive
• Oil & Gas
• Pharmaceutical
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also provided a comprehensive global ethylene carbonate market analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the companies covered include:

• BASF SE
• FUJIFILM Wako Pure Chemical Corporation
• Huntsman Corporation
• Merck KGaA
• Mitsubishi Chemical Holdings Corporation
• Otto Chemie Private Limited
• Shandong Senjie Cleantech Co. Ltd.
• Thermo Fisher Scientific
• Toagosei Co. Ltd.
• Tokyo Chemical Industry Co. Ltd
• Vizag Chemicals International
• Zhengzhou Meiya Chemical Products Co. Ltd.
   

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Recent Developments:

• 17 October 2023: BASF increased ethylene oxide and ethylene oxide derivative capacity at its Verbund plant in Antwerp, Belgium. The investment increases BASF's capacity for the related products by about 400,000 metric tons per year. This is also providing relief to Germany's ethylene carbonate prices.

Report Coverage: