Ethylene Carbonate Market worth $2.72 billion by 2032
The report "Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Surface Coatings, Plasticizers), End-use Industry (Automotive, Industrial, Oil & Gas, Medical, Personal Care & Hygiene), and Region - Global Forecast to 2032", is expected to grow from USD 1.11 billion in 2025 to USD 2.72 billion by 2032, with a compound annual growth rate (CAGR) of 13.6% during the forecast period. Main drivers for the ethylene carbonate industry include increasing demand in the Asia Pacific region and broader use in applications such as lithium battery electrolytes, lubricants, coatings, and plasticizers.
Browse 268 market data Tables and 52 Figures spread through 234 Pages and in-depth TOC on "Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Surface Coatings, Plasticizers), End-use Industry (Automotive, Industrial, Oil & Gas, Medical, Personal Care & Hygiene), and Region - Global Forecast to 2032"
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By form, liquid ethylene carbonate will dominate the global market throughout the forecast period.
Liquid ethylene carbonate is expected to dominate the global market throughout the forecast period, driven by its essential role in high-growth applications such as lithium-ion battery electrolytes, industrial solvents, and chemical intermediates. The liquid form offers superior solubility, a high dielectric constant, and excellent stability, making it indispensable for industries ranging from automotive and electronics to medical and industrial manufacturing. The increasing adoption of electric vehicles (EVs), expansion of renewable energy storage systems, and steady growth in consumer electronics are significantly boosting demand for liquid ethylene carbonate. Its ability to enhance ion conductivity and battery performance has made it a preferred choice in electrolyte formulations. Additionally, its versatility in various industrial processes further strengthens its market position. With rising production capacities and technological advances, liquid ethylene carbonate will maintain its dominance and capture an expanding share of the global market in the coming years.
By application, lithium battery electrolytes are expected to dominate the global ethylene carbonate market during the forecast period.
By application, lithium battery electrolytes are projected to dominate the global ethylene carbonate market during the forecast period. This dominance is driven by the compound’s crucial role as a high-permittivity solvent in lithium-ion batteries, where it enhances ion transport, forms a stable solid electrolyte interphase (SEI), and improves battery safety, performance, and cycle life. The increasing adoption of electric vehicles (EVs), fueled by global decarbonization efforts, strict emission regulations, and government incentives, is the main growth driver for this segment. Additionally, the expanding consumer electronics industry, including smartphones, laptops, tablets, and wearables, continues to boost lithium-ion battery production. Further demand comes from the growing use of renewable energy storage systems and grid-scale battery solutions, which depend heavily on lithium-ion technology. With significant investments in battery manufacturing facilities, especially in the Asia Pacific, the lithium battery electrolyte segment is poised to maintain its market leadership and generate substantial demand for ethylene carbonate throughout the forecast period.
The automotive end-use industry is expected to dominate the global Ethylene carbonate market during the forecast period.
By end-use industry, the automotive sector is expected to lead the global ethylene carbonate market during the forecast period, primarily due to the rapid shift toward electric mobility. Ethylene carbonate is an essential component in lithium-ion battery electrolytes, allowing for higher energy density, enhanced stability, and longer battery life, which are crucial for electric vehicles (EVs). The increasing adoption of EVs, driven by strict emission regulations, government incentives, and the global effort toward carbon neutrality, is significantly boosting demand for high-performance batteries, thereby increasing the use of ethylene carbonate. Moreover, the compound is also used in automotive lubricants, coatings, and plasticizers, expanding its significance within the sector. As major automakers invest heavily in next-generation EV platforms, battery manufacturing facilities, and advanced energy storage solutions, the automotive industry will continue to be the largest consumer of ethylene carbonate, maintaining its dominance throughout the forecast period.
The Asia Pacific region is poised to dominate the global ethylene carbonate market throughout the forecast period.
The Asia Pacific region is set to maintain its leading role in the global ethylene carbonate market throughout the forecast period, driven by its robust manufacturing sector and rapidly growing demand across key end-use industries. Countries like China, Japan, and South Korea dominate global lithium-ion battery production, supplying both domestic and international markets. This leadership is supported by large-scale investments in electric vehicle (EV) manufacturing, consumer electronics, and renewable energy storage systems, all of which heavily depend on ethylene carbonate for high-performance battery electrolytes. Increasing urbanization, a rising middle-class population, and higher disposable incomes boost demand for EVs, smartphones, and portable electronics, further increasing consumption in the region. Additionally, favorable government policies and subsidies promoting green mobility and renewable energy adoption are speeding up market growth. Along with the availability of cost-effective raw materials and advanced chemical production infrastructure, the Asia Pacific is expected to retain its top position and play a key role in shaping global demand for ethylene carbonate in the years to come.
Some of the leading players in this market include Mitsubishi Chemical Group Corporation (Japan), Huntsman International LLC (US), TOAGOSEI CO., LTD. (Japan), Shinghwa Advanced Material Group Co., Ltd. (China), Dubi Chem (UAE), ZIBO DONGHAI INDUSTRIES CO., LTD. (China), Tokyo Chemical Industry Co., Ltd. (China), Empower Materials (US), Merck KGaA (Germany), BASF (Germany), FUJIFILM Wako Pure Chemical Corporation (Japan), Vizag Chemical (India), Junsei Chemical Co., Ltd. (Japan), Shandong Lixing Advanced Material Co., Ltd. (China), Zhengzhou Meiya Chemical Products Co., Ltd. (China), Indorama Ventures Public Company Limited (Thailand), LOTTE Chemical Corporation (South Korea), Ichimaru Co., Ltd. (Japan), Asahi Kasei Corporation (Japan), Yingkou Hengyang New Energy Chemical Co., Ltd. (China), and others.
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