Market Size of Ethylene Carbonate Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.03 Billion |
| Market Size (2029) | USD 1.63 Billion |
| CAGR (2024 - 2029) | 9.58 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ethylene Carbonate Market Analysis
The Ethylene Carbonate Market size is estimated at USD 1.03 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 9.58% during the forecast period (2024-2029).
Ethylene carbonate output and consumption have been affected by COVID-19. Due to lockdowns, production limits, and global economic recession, ethylene carbonate and other chemical demands have slowed. Ethylene carbonate and other chemicals are cheaper due to lower demand. After the pandemic, the ethylene carbonate demand increased because of lithium-ion batteries for electric cars and systems that store energy from renewable sources.
- The ethylene carbonate market grew recently. With the increase in demand for electric vehicles (EV) and device manufacturing units, there is an increase in lithium battery and lithium consumption, resulting in positive growth for the ethylene carbonate market.
- Over the medium term, the factors affecting the ethylene carbonate market growth include the rising number of applications for intermediates in the chemical sector and the growing need for lithium batteries in the automobile sector.
- However, on the flip side, rising health hazards due to the toxicity of ethylene carbonate and replacement prospects by other substitutes are expected to hinder the market's growth.
- Asia-Pacific is expected to dominate the global market due to its highly developed electronics sector and high production of lithium-ion batteries.
