The Ethylene
Carbonate Market
is projected to grow from USD 264.8
million in 2017 to USD 355.1 million by 2022, at a CAGR of 6.0% in terms of
value from 2017 to 2022.
The growth of the ethylene carbonate
market can be attributed to the increasing demand for ethylene carbonate across
various applications, such as lithium batteries electrolytes, lubricants,
coatings, and plasticizers.
By end-use industry, the automotive
segment of the ethylene carbonate market is expected to grow at the highest
CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for lithium
battery electrolyte in electric vehicles. In
addition, initiatives taken by government bodies to encourage electric
vehicles is a major factor contributing to the growth of the automotive
industry
Technological advancements in the end-use industries are fueling the demand for ethylene carbonate in
North America and Europe. End-use industries, such as automotive and
manufacturing are benefited from the
development of various applications such as lithium battery electrolyte and
lubricants stabilizers in terms of
increasing the efficiency of vehicles and equipment used in these
industries.
Download PDF Brochure
of Ethylene Carbonate Market Report @ http://bit.ly/2Whndnz
By region, the ethylene carbonate market in Asia Pacific is
projected to grow at the highest CAGR between 2017 and 2022. Asia Pacific is
the leader in terms of consumption of ethylene carbonate. The increasing demand
for lithium battery electrolyte, plasticizers, and surface coating-based
products from China, South Korea, Taiwan, and Japan is a key driver of the
market in the region.
The increasing demand for surface coatings and lubricants
from oil & gas, industrial, and automotive industries and rising investments
in establishing manufacturing facilities of ethylene carbonate are expected to
drive the market for ethylene carbonate in this region.
Reference:
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