Increasing demand for ethylene carbonate across various applications, such as lithium batteries electrolytes, lubricants, coatings, and plasticizers is driving the ethylene carbonate market
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.
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.
Key players in the ethylene carbonate market are Oriental Union Chemical Corporation
(Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and
Toagosei Co., Ltd. (Japan). These players have established their brands.
Ethylene carbonate produced by these companies is consumed domestically and is
further supplied to various countries such as China, Japan, New Zealand,
Australia, and others within Asia Pacific.
In 2016, 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 has a manufacturing plant in Taiwan to
supply ethylene carbonate across various end-use industries of the country.
Download PDF Brochure
of Ethylene Carbonate Market Report @ http://bit.ly/2Whndnz
Huntsman has a vast experience in manufacturing ethylene
carbonate, broad product portfolio, huge production, sales, logistics, and
technical service network. The company is highly focused on R&D and has
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 demand of customers.
Reference:
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