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Growing automotive industry in Asia-Pacific is boosting Ethylene Carbonate Market


The global Ethylene Carbonate Market size is projected to reach USD 439 million by 2025, at a CAGR of 6.6% during the forecast period.
Browse 104 market data Tables and 33 Figures spread through 122 Pages and in-depth TOC on "Ethylene Carbonate Market”.
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Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan), among others, are the leading ethylene carbonate manufacturers, globally. These companies have established their brands, and ethylene carbonate produced by these companies is consumed domestically. It is supplied further to various countries such as China, Japan, New Zealand, Australia, and others within the Asia Pacific region.
Oriental Union Chemical Corporation (OUCC) accounted for the largest share in the overall ethylene carbonate market. It supplies ethylene carbonate, ethylene glycols, ethylene oxide, gas oxygen, gas nitrogen, liquid nitrogen, liquid argon, monoethanolamine, polyethylene glycol, polyoxyethylene lauryl ether, and methoxy polyethylene glycols to Taiwan and other countries in APAC. The company operates an ethylene carbonate manufacturing plant in Taiwan to supply ethylene carbonate to various end-use industries of the country. OUCC’s ethylene carbonate plant has the world’s largest production capacity, which uses carbon dioxide as a key raw material.
Huntsman accounted for the second-largest share in the market owing to the vast experience in the manufacturing of ethylene carbonate, broad product portfolio, huge production, sales, logistics, and technical service network. The company is highly focused on R&D and operates facilities in over 30 countries. It offers ethylene carbonate for various applications such as chemical intermediates, surface coatings, wood binder resins, lubricants, plasticizers, and electrolytes. The company is currently investing in advanced production technologies and carbonate derivatives to meet the customer’s demand.
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Based on the application, lubricants accounted for the larger share in terms of value during the forecast period. The growth of the segment is attributed mainly to the increased usage in the automotive and industrial end-use industry. The factors mentioned above will drive demand for Ethylene carbonates during the forecast period. 
Based on end-use industries, the automotive segment accounted for the largest share, in terms of value, during the forecast period. The growth of the segment is attributed to the increasing demand for lithium battery electrolytes in electric vehicles. In addition, initiatives are being undertaken by government bodies to encourage the use of electric vehicles. The factors mentioned above will drive the market during the forecast period.

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