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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