Ethylene Carbonate Market Size, Share, By Form (Solid and Liquid), By Applications (Lithium Battery Electrolytes, Lubricants, Plasticizers, Surface Coatings, Chemical Intermediates, Fiber Processing Agents, Dyes and Others), By End-Use Industry (Automotive, Oil & Gas, Textile, Chemical, Medical, Personal Care & Hygiene, Agriculture and Others), and By Region - Trends, Analysis and Forecast till 2034

Ethylene carbonate market size was valued at USD 1.05 Billion in 2024 and is expected to reach USD 3.4 Billion by 2034, growing at a CAGR of 13.8%

Ethylene carbonate or C3H6O3, is an organic compound. It is an odorless, colorless solid at room temperature with a pretty low melting point, about 36-38°C. Structurally, it has a five-membered ring with two oxygen atoms and a carbonyl group. It is the cyclic carbonate ester created from ethylene glycol and carbon dioxide. Due to its unique properties, EC finds applications in various industries. It acts as a polar aprotic solvent in lithium-ion batteries, producing a protective, stable layer at the electrode surface that allows improved battery performance and durability. In the chemical industry, it is used as an intermediate in synthesizing different compounds, mainly polycarbonates and other polymers. EC is also applied in cosmetics and pharmaceutical production and for plasticizers of some materials.

In the recent past, the global ethylene carbonate market has been growing at a stable pace, propelled by rising demand from various end-use industries. The primary driver for market growth is the rapid expansion in the lithium-ion battery sector, where the application of EC as a medium in electrolyte formulations is imperative. The growing adoption of electric vehicles and portable electronic devices further boosts this. Besides its dominant role in energy storage, EC has applications in many other industries. It is used in the automotive industry as part of brake fluids and lubricants. The personal care and cosmetics industries use EC as a solvent and emollient in skincare products. In agriculture, it is used to dissolve pesticides and fertilizers. The textile industry uses it in dyeing, the pharmaceutical industry in drug formulations as a solvent, and further, it is useful in plastic production as a plasticizer and as an intermediate in the manufacture of polycarbonate. EC is further applied in the construction industries for cement additives and surface coatings. With the backdrop of increasing environmentally friendly regulations worldwide, biodegradable and less toxic EC can be an alternative for some traditional solvents. This development can thus offer more opportunities to EC. The market is foreseen to be challenged on various fronts: price volatility of raw materials and competition from substitute products. With the product's versatility and continuous research into new applications, the future shines with a ray of hope for the ethylene carbonate market.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Key Drivers of Target Market:

Booming Electric Vehicle Industry:

• The rapid growth of the electric vehicle industry acts as the most important stimulant for the ethylene carbonate market. Ethylene carbonate is an essential raw material used to produce lithium-ion batteries, which power these vehicles. The increasing popularity of electric cars is due to many factors, including environmental concerns, rising fuel costs, and government incentives. As the world is turning toward sustainable transport at breakneck speed, demand for high-performance batteries and ethylene carbonate is proliferating. With rising middle-class populations in developing countries and increasing urbanization, personal mobility demand is also growing at an incredible rate, fueling the EV market and the ethylene carbonate market accordingly.

Rising Demand for Energy Storage Solutions:

• As renewable energy sources, like solar and wind power, please continue to be adopted rapidly, efficient energy storage systems will be required to tackle their intermittent nature. Ethylene carbonate finds an important application here as a basic raw material in lithium-ion batteries for energy storage. Growing grid-scale energy storage projects and the growing penetration of renewable energy drive demand for ethylene carbonate in this sector.

Restrains:

Volatility in Raw Material Prices:

• The production process of ethylene carbonate includes ethylene oxide and carbon dioxide as primary raw materials. The prices of these raw materials depend on their parent sources—petroleum and natural gas—and are further linked with many factors, such as crude oil price changes, natural gas production, and global supply and demand dynamics. Changes in the prices of raw materials may alter production costs and, hence, the market price of ethylene carbonate. These constant fluctuations thus challenge the manufacturers' profit margins and financial planning. For example, a sudden surge in the price of ethylene oxide may drastically increase the cost of production of ethylene carbonate, thereby cutting down the manufacturer's profit margins. To combat this exposure, firms may have to hedge their risks or develop alternative sources of supply. Both these options will be expensive and increasingly complex

Opportunities:

Growth of Renewable Energy Sector:

• Greater focus on renewable energy sources, like solar and wind, is boosting demand for energy storage. These sources result in an intermittent flow of energy and thus require efficient storage systems to give stable power. Ethylene carbonate, in this respect, definitely occupies a major place as a component of lithium-ion batteries—those most widely applied for energy storage. With the exponential growth of renewable energy—due to enhanced environmental awareness, government policies, and declining costs associated with renewable technologies—the demand for ethylene carbonate is bound to grow manifold.

The market is segmented based on Form, Applications, End-User, and Region.

Form Insights:

• Solid: Solid ethylene carbonate is used in large quantities. It serves as a solvent and intermediate in various chemical processes, mainly for high-performance polymers and resins. It finds applications in areas where stable chemicals are required in the solid state due to its high melting point and potent power of solvency. It is used mainly in manufacturing lubricants and plasticizers where stability under a wide range of temperatures prevails.
• Liquid: Interest in liquid ethylene carbonate applies in areas where a liquid state is desired, such as lithium battery electrolytes and surface coatings. Its properties, with a high dielectric constant and very low viscosity, make it a very good solvent in electrolytes of lithium-ion batteries, hence ensuring better battery performance. In addition, it is used in formulations for easy mixing and application, such as paints and coatings.

Applications Insights:

• Lithium Battery Electrolytes: Ethylene carbonate, with its high dielectric constant and ability to dissolve lithium salts, helps form lithium-ion batteries. It normally improves performance by encouraging ionic conduction and stabilization in batteries, and hence, it is one of the important ingredients in electric vehicle batteries.
• Lubricants: In lubricant applications, the primary use of ethylene carbonate is in the market because of the viscous and thermal stability of the molecule. High consumption scenarios include its use as the base fluid or additive in preparing high-performance lubricants, particularly in the circumstances characterized by extreme temperature and pressure in both automotive and industrial end applications.
• Plasticizers: In the manufacturing of polymers, ethylene carbonate is used to improve the flexibility, toughness, and workability of materials. It is of immense value in high-performance applications, for example, in manufacturing plastic materials for the automotive and construction industries.
• Surface Coatings: Ethylene carbonate is also applied for hardening coating systems regarding good adhesion and gloss retention. It is employed in paints, varnishes, and adhesives to form a protective layer that prevents environmental damage.
• Chemical Intermediates: Ethylene carbonate is an important chemical intermediate that produces the most diverse compounds, ranging from pharmaceuticals and agrochemicals to industrial chemicals. Its reactivity and stability make it a sine qua non for most intricate chemical reactions.
• Fiber Processing Agents: The textile industry has used ethylene carbonate as one of the fiber processing agents. It's used in the finishing and treatment of fibers, and in this case, it increases the uptake of dyes and textures while making the processed fiber strong enough and more appealing.
• Dyes: Ethylene carbonate finds its application in the dye industry as a solvent and dispersion agent, helping to distribute dyes evenly in different materials. Its property in dissolving dyes makes it a critical component of any vibrant color expression with brilliance and uniformity.
• Others: Other uses of ethylene carbonate are in personal care products and medical devices, where it is a major solvent in many different industrial processes. With its versatility, the industrial uses cut across very broad industries.

End-User Insights:

• Automotive: The automotive domain is one of the biggest consumers of ethylene carbonate, especially when using lithium-ion accumulators for electric vehicles. In addition, using lubricants and plastic automotive parts makes it essential for automotive manufacturers.
• Oil & Gas: In the oil and gas industry, ethylene carbonate ranges from a gas-treating solvent to applications allowing formulators to produce high-performance lubricants for drilling and extraction equipment. Properties of chemical stability and effectiveness in extreme conditions are the key drivers of its high value.
• Textile: In this industry, ethylene carbonate is used as a fiber processing agent and in dyeing processes. This chemical improves the quality and durability of textiles, making it vital in their manufacturing.
• Chemical: Ethylene carbonate is used as a solvent, plasticizer, and intermediate in synthesizing polymers, resins, specialty chemicals, and other chemicals by the chemical industry. It is one of the critical raw materials due to its versatility and reactivity in many chemical processes.
• Medical: Ethylene carbonate is a very common solvent used in medical devices, pharmaceutical formulations, and other general applications. The compound must be biocompatible and stable to ensure the safety and effectiveness of the medical product.
• Personal Care & Hygiene: Ethylene carbonate finds application in personal care products, specifically in formulations for lotions, creams, and other skincare products. It can be an efficient solvent, allowing for blending ingredients together well enough to assure product stability and efficacy.
• Agriculture: In agriculture, ethylene carbonate is used as an intermediate in producing agrochemicals, including pesticides and herbicides. Therefore, it is important in agricultural practices to increase the effectiveness and stability of these chemicals for crop protection and productivity.
• Others: Other industries that use ethylene carbonate include electronics, during the manufacture of certain components, and in packaging as plasticizers when manufacturing flexible packaging material.

Regional Insights

• North America: The driving factors for the North American market are the wide applications of ethylene carbonate in the automotive, chemical, and electronics industries. Other drivers include the regional commitment to advanced technologies and the framework of sustainable solutions that might help strengthen the electric vehicle market.
• Asia Pacific: Asia Pacific has the largest and fastest-growing market for ethylene carbonate, with significant demand from countries such as China, Japan, and South Korea, among others. The region's booming automotive, electronic, and textile industries also contribute to the market growth.
• Europe: In Europe, the market for ethylene carbonate is well-supported by the strong presence of the automotive and chemical industries. Besides, the region focuses on environmental regulations and sustainability, which further underpins the application of EC, especially in battery applications.
• Latin America: The Ethylene Carbonate Market is growing as the regional automotive and chemical sectors develop. The high demand for advanced technologies and infrastructure projects drives the demand for ethylene carbonate up.
• Middle East and Africa: The ethylene carbonate market in the Middle East and Africa region is mainly driven by the oil and gas industry since it is used in lubes and chemical processing. Growth continues with the region's industrial diversification into other industries and with new technologies.

Ethylene Carbonate Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Form, Applications, End-User, and Region.

Segmentation:

By Form:

• Solid
• Liquid

By Applications:

• Lithium Battery Electrolytes
• Lubricants
• Plasticizers
• Surface Coatings
• Chemical Intermediates
• Fiber Processing Agents
• Dyes
• Others

By End-User:

• Automotive
• Oil & Gas
• Textile
• Chemical
• Medical
• Personal Care & Hygiene
• Agriculture
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Ethylene Carbonate Market include Oriental Union Chemical Corporation, Huntsman Corporation, BASF SE, Mitsubishi Chemical Corporation, Toagosei Co., Ltd., Asahi Kasei, Prasol Chemicals Ltd, Shandong Shida Shenghua Chemical Group, Shandong Senjie Chemical, Dubi Chem, Alfa Aesar.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In March 2024, Dow announced plans to invest in ethylene derivatives capacity on the US Gulf Coast, including producing carbonate solvents, essential components of the lithium-ion battery supply chain. This investment supports growth in the domestic electric vehicle (EV) and energy storage markets, and it builds on Dow's excellent track record of growth initiatives, including recent global alkoxylation capacity expansions in the United States Gulf Coast and Europe, which are set to come online within the next two years. This project will capture more than 90% of the carbon dioxide produced during the ethylene oxide manufacturing process and use it to generate carbonate solvents required for vehicle electrification and to enhance the US power system through energy storage.
• In June 2022, Lotte Chemical Co., Ltd., one of the largest chemical companies in South Korea, will collaborate with Sasol Ltd., a South African energy and chemical corporation, to assess the feasibility of building and operating a jointly owned plant for manufacturing electrolyte solvents—considered one of the critical components of electric vehicle lithium-ion batteries. The two firms will perform a pre-feasibility study to determine if Sasol's locations near Lake Charles, Louisiana, and Marl, Germany, are viable for a facility producing electrolyte solvents using feedstock from Sasol and third parties, along with technologies from LOTTE and third-party licensors.

• Oriental Union Chemical Corporation*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Huntsman Corporation
• BASF SE
• Mitsubishi Chemical Corporation
• Toagosei Co., Ltd.
• Asahi Kasei
• Prasol Chemicals Ltd
• Shandong Shida Shenghua Chemical Group
• Shandong Senjie Chemical
• Dubi Chem
• Alfa Aesar

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Research Objectives
• Assumptions
• Abbreviations

Market Preview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Market Snippet, By Form
  • Market Snippet, By Applications
  • Market Snippet, By End-User
  • Market Snippet, By Region
• Opportunity Map Analysis

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restraints
  • Market Opportunities
• Market Trends
• Product Launch
• Merger and Acquisitions
• Impact Analysis
• PEST Analysis
• Porter’s Analysis

Market Segmentation, By Form, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Solid
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Liquid
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Applications, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Lithium Battery Electrolytes
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Lubricants
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Plasticizers
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Surface Coatings
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Chemical Intermediates
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Fiber Processing Agents
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Dyes
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By  End-User, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Automotive
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Oil & Gas
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Textile
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Chemical
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Medical
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Personal Care & Hygiene
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Agriculture
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (USD Bn), By Form, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Applications, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (USD Bn), By Form, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Applications, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (USD Bn), By Form, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Applications, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (USD Bn), By Form, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Applications, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (USD Bn), By Form, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Applications, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles

• Oriental Union Chemical Corporation
• Huntsman Corporation
• BASF SE
• Mitsubishi Chemical Corporation
• Toagosei Co., Ltd.
• Asahi Kasei
• Prasol Chemicals Ltd
• Shandong Shida Shenghua Chemical Group
• Shandong Senjie Chemical
• Dubi Chem
• Alfa Aesar

The Last Word

• Future Impact
• About Us
• Contact