Ethylene Carbonate Market Growth, Industry Opportunity, Major...

Ethylene Carbonate Market Growth, Industry Opportunity, Major Players & Forecast 2023-2028

Posted 2023-05-26 17:34:05

IMARC Group, a leading market research company, has recently releases report titled “Ethylene Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ethylene carbonate market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big Is The Ethylene Carbonate Market?

The global artificial intelligence-as-a-service market size reached US$ 7.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.3 Billion by 2028, exhibiting a growth rate (CAGR) of 42.4% during 2023-2028.

What are Ethylene Carbonate?

Ethylene carbonate (EC) with the molecular formula (C3H4O3), also known as glycol carbonate or carbonic acid ethylene, is a clear, colorless, and odorless solvent that is solid at room temperature. It is a polar solvent with low toxicity, solubility, and high boiling point. It is produced by the reaction between ethylene oxide (EO) and carbon dioxide (CO2). It is used in fiber processing agents, capacitor electrolytes, lithium battery electrolytes, strip solvents, lubricants, soil-hardening agents, organic solvents, raw materials, and medical products. As a result, ethylene carbonate is widely adopted in the pharmaceutical, oil and gas, and automotive sectors across the globe.

What Are The Growth Prospects And Trends In The Ethylene Carbonate Industry?

The market is primarily driven by the expanding automotive sector and the rising demand for lithium-ion batteries, lubricants, and greases for the smooth functioning of automotive engines. In addition, the widespread adoption of lithium-ion batteries (LIB) in electric vehicles (EVs), tablets, mobile phones, and medical equipment are contributing to the market growth.

Moreover, the rising product adoption in photochromic treatments to enhance the visual acuity of individuals represents another major growth-inducing factor. Besides this, the increasing use of EC as a solvent in the oil and gas industry to reduce viscosity during high temperature or extreme pressure drilling operations is providing a positive thrust to the market growth. Furthermore, the increasing investment in research and development (R&D) activities conducted by key players is also creating a favorable market outlook..

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Market 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

Who are the key players operating in the industry?

The report covers the major market players including:

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
and Zhengzhou Meiya Chemical Products Co. Ltd.

Ask Analyst For Customization And Browse Full Report With TOC & List Of Figure: https://www.imarcgroup.com/ethylene-carbonate-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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