Propylene Carbonate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Propylene Carbonate Market was valued at USD 419.80 Million in 2024 and is projected to reach USD 515.79 Million by 2030, rising at a CAGR of 2.48%. Propylene carbonate is a biodegradable, non-toxic solvent widely adopted across industries including lithium-ion batteries, personal care, pharmaceuticals, and paints and coatings. Its favorable safety profile and environmental compatibility have positioned it as a preferred alternative to traditional solvents. Endorsements from regulatory agencies such as the U.S. Environmental Protection Agency (EPA) further support its adoption in sustainable product formulations.

Despite these advantages, the market faces limitations such as raw material cost volatility and competition from alternative solvents. Additionally, environmental compliance requirements may lead to increased production and operational expenditures. However, ongoing technological advancements, greater ecological awareness, and the expanding role of propylene carbonate in emerging sectors are expected to sustain market momentum in the coming years.

Key Market Drivers

Growth in Cosmetic Industry

The expanding global cosmetic industry is a major factor contributing to the demand for propylene carbonate. As beauty and personal care products continue to evolve with an emphasis on wellness and self-care, manufacturers are turning to high-performance ingredients like propylene carbonate. This solvent is widely used in skincare, haircare, and makeup formulations due to its excellent solvency, low toxicity, and capacity to enhance product stability and texture.

With the cosmetics market projected to approach USD 140 billion by 2030, there is a notable shift toward clean, sustainable ingredients. Propylene carbonate fits this demand due to its eco-friendly profile and skin compatibility. Clinical studies show that even at concentrations up to 20%, it is generally non-sensitizing and only moderately irritating. As consumer preference leans toward non-toxic and biodegradable components, the adoption of propylene carbonate in cosmetics is expected to rise steadily.

Key Market Challenges

Raw Material Price Volatility

A key challenge facing the propylene carbonate market is the instability of raw material prices, particularly propylene, which is derived from petroleum. Variations in global crude oil prices - driven by geopolitical tensions, supply-demand imbalances, and economic fluctuations - can significantly impact the production cost of propylene carbonate.

This unpredictability complicates budgeting, pricing strategies, and long-term planning for manufacturers. It also places pressure on profit margins and can lead to price hikes for end consumers. As a result, price-sensitive sectors may seek alternative solvents or reduce usage, affecting overall market demand.

Key Market Trends

Surge in Lithium-Ion Battery Demand

The increasing global focus on electric vehicles and renewable energy is fueling demand for lithium-ion batteries, in which propylene carbonate plays a critical role as an electrolyte solvent. Government policies promoting zero-emission vehicles - such as mandates in Canada and the UK targeting 60-80% zero-emission light-duty vehicle sales by 2030 - are accelerating EV adoption.

Propylene carbonate enhances battery stability and efficiency, making it a valuable material in energy storage technologies. As production scales to meet global EV and energy storage demand, the use of propylene carbonate in battery applications is expected to grow, reinforcing its long-term market potential.

Key Players Profiled in this Propylene Carbonate Market Report

• Balaji Amines Limited
• Unilong Industry Co., Ltd
• Jinan Finer Chemical Co., Ltd
• Qingdao Aspirit Chemical Co., Ltd
• Chemichase Chemical Co., Ltd
• Shandong Longze Chemical Co., Ltd
• Lihua Yiweiyuan Chemical Co., Ltd
• TIANJIN ZHONGXIN CHEMTECH CO., LTD. (ZX CHEMTECH)
• Shandong Shida Shenghua Chemical Group
• Shandong Depu Chemical Industry Science and Technology Co., Ltd

Report Scope

In this report, the Global Propylene Carbonate Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Propylene Carbonate Market, by Sales Channel:

• Direct
• Indirect

Propylene Carbonate Market, by End Use:

• Electrolytic Solvent
• Cosmetics & Personal Care
• Plastics & Polymers
• Reagents
• Fuel Additives
• Others

Propylene Carbonate Market, by Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Propylene Carbonate Market.

Available Customizations

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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