Ethylene Carbonate Industry Set for Strong Growth Â– Market Insights & Forecast to 2031

Global Ethylene Carbonate Market | DataM Intelligence

(EstateNewsWire.com, March 09, 2025 ) Global Ethylene Carbonate Market reached US$ 465.3 million in 2023 and is expected to reach US$ 1,135.7 million by 2031 growing with a CAGR of 11.8% during the forecast period 2024-2031.

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Market Dynamics

Ethylene carbonate is increasingly used in electric vehicles as a safer alternative to flammable solvents, offering chemical stability, low volatility, and non-flammable properties. It enhances lithium-ion battery performance by reducing lithium plating and improving cycle life, making it essential for EVs, hybrids, and plug-in hybrids. Its dielectric properties also support precise cooling in fuel cells, ensuring efficient operation.

Market Segment

By Form: Solid, Liquid
By Application: Coating, Plasticizers, Lubricants, Battery Electrolytes, Others
By End-User: Automotive, Oil and Gas, Pharmaceutical, Personal care and Hygiene, Industrial, Others

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Market Geographical Share

The Asia-Pacific ethylene carbonate market is growing rapidly, driven by strong demand from China, India, Japan, South Korea, and Taiwan. Increasing industrialization, rising use of lithium-ion batteries, fuel cells, and surfactants, along with heavy investments in petrochemicals, are fueling market expansion. The region also sees rising demand for ethylene glycol, further boosting growth. Key players like Mitsubishi Chemical, INVESTCHEM, BASF SE, and Vertellus focus on new product development and regional expansion to strengthen their market position.

Market Key Players

Dow Chemical Company, Eastman Chemical Company, Chemical Corporation, Shin-Etsu Chemical Co. Ltd., LyondellBasell Industries N.V., Merck Group, The Chemours Company, Perstorp AB, Huntsman Corporation, AkzoNobel NV.

DataM Intelligence

Sai Kiran

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