Global Ethylene Carbonate Market, By Form, By Grade, By Application, By Industry, Estimation & Forecast, 2017 - 2027

Global Ethylene Carbonate Market is Projected to Grow at a CAGR of 6.6% During the Forecast Period 2017-2027

The global ethylene carbonate market held a market value of USD 287.9 Million in 2020 and is forecasted to reach USD 450.5 Million by the year 2027. The market is expected to grow at a CAGR of 6.6% over the forecast period. The market volume in 2020 was around 240,250.6 tonnes.



Ethylene carbonate is an organic compound having a formula (CH2O)2CO. The compound is classified as a cyclic carbonate ester of carbonic acid and ethylene glycol. The market is expected to be driven by the increasing demand for ethylene carbonate in lithium-ion electrolytes and significant industrial growth in Asia Pacific. Furthermore, emergence of lithium-sulfur batteries is expected to offer lucrative opportunities to the market growth.

The market is expected to be negatively hampered owing to the volatile raw material prices. Also, fluctuating oil and gas prices are estimated to pose as a threat to the market growth. Shutdown of ethylene carbonate facilities during the COVID-19 pandemic resulted in declining revenues of market players.

Growth Influencers:

Increasing demand for ethylene carbonate in lithium-ion electrolytes

Ethylene carbonate is increasingly being used in manufacturing of lithium-ion electrolytes. Since, the demand for lithium-ion electrolytes is growing rapidly as it is used in electric vehicles and their demand is also rising. This is due to growing awareness regarding environmental issues and its widespread use, especially in countries such as Japan, Germany, China, the UK, the United States, and France. Abovementioned factors are expected to increase the demand for ethylene carbonate in lithium-ion electrolytes.

Significant industrial growth in Asia Pacific

Ethylene carbonate is used in various industries, such as chemicals, healthcare & pharmaceuticals, textile, oil & gas, agriculture, and personal care & hygiene, among others. Most of these industries are tremendously growing in the Asia Pacific region, especially in countries such as India, Japan, and China, among others. Therefore, significant industrial growth in Asia Pacific region is expected to fuel the market growth during the forecast period.

Segments Overview:

The global ethylene carbonate market is classified into grade, form, industry, and application.

By Form

• Solid
• Liquid

The liquid segment is expected to surpass a market volume of 113,600 tonnes by 2025. The solid segment is also expected to witness significant growth owing to the increasing use of solid ethylene carbonate as solvent in production of lubricants.

By Grade

• Battery Grade
• Industry Grade

The industry grade segment is estimated to hold the largest market share owing to its high adoption in various industries. The battery grade segment is anticipated to witness the fastest growth rate due to its increasing demand for ethylene carbonate for manufacturing lithium ion batteries.

By Application

• Lithium Battery Electrolytes
• Capacitor Electrolytes
• Resist Strip Solvents
• Fiber Processing Agents
• Lubricants
• Soil Hardening Agents
• Organic Solvents
• Plasticizers
• Surface Coatings
• Chemical Intermediates
• Dyes
• Others

The lubricants segment is estimated to hold the largest value share of about 32% owing to its rising usage in oil & gas and automotive. The fiber processing agents segment is expected to witness the fastest growth rate of 8% by volume owing to the growing demand for ethylene carbonate for manufacturing fiber processing agents. The chemical intermediates segment is anticipated to surpass a market volume of around 16,234.6 tonnes by 2027.

By Industry

• Healthcare & Pharmaceuticals
• Chemicals
• Oil & Gas
• Textile
• Personal Care & Hygiene
• Agriculture
• Others

The healthcare and pharmaceuticals segment held the largest volume share of around 45% owing to growing usage of ethylene carbonate in the healthcare and pharmaceuticals segment. The oil and gas segment is estimated to surpass a market volume of 41,600 tonnes in 2025 as the compound is increasingly being used for production of lubricants.

Regional Overview

On a regional basis, the global Ethylene carbonate market is classified into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific region is expected to hold the dominant share of about 50% owing to the rapidly growing industrial segment in the region. The European region is also expected to witness significant growth during the forecast period.

The North American region is estimated to hold the second largest market share owing to the presence of major companies in the region. The South America and Middle East & Africa regions are also anticipated to witness significant growth.

Competitive Landscape

Key players operating in the global ethylene carbonate market include BASF SE, Huntsman International LLC, Lixing Chemical, Merck KGaA, Mitsubishi Chemical Corporation, New Japan Chemical Co., Ltd, OUCC, PANAX ETEC, Parchem Fine & Specialty Chemicals, Shandong Senjie Cleantech Co., Ltd., Sigma-Aldrich, Inc., TOAGOSEI CO., LTD., Tokyo Chemical Industry Co., Ltd, Wego Chemical Group, and Zibo Donghai Industries Co., Ltd., among others.

The approximate market share of the five major players is close to 64%. These market players are involved in new product launches, partnerships, mergers & acquisitions to strengthen their market presence. For instance, in August 2021, BASF SE collaborated with SINOPEC for expansion of their Verbund site which is operated by BASF-YPC Co. Ltd, China. The partnership is set to expand capacities of various downstream chemical plants for supporting the market in China.

The global Ethylene carbonate market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Ethylene carbonate market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Ethylene carbonate market report answers questions such as:

• What is the market size and forecast of the Global Ethylene carbonate Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Ethylene carbonate Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Ethylene carbonate Market?
• What is the competitive strategic window for opportunities in the Global Ethylene carbonate Market?
• What are the technology trends and regulatory frameworks in the Global Ethylene carbonate Market?
• What is the market share of the leading players in the Global Ethylene carbonate Market?
• What modes and strategic moves are considered favorable for entering the Global Ethylene carbonate Market?