Ethylene Carbonate Market

Ethylene Carbonate Market Forecasts to 2030 - Global Analysis By Form (Liquid, Solid and Other Forms), Grade, Application, End User and By Geography

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4.2 (97 reviews)
Published: 2023 ID: SMRC23773

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $572.7 MN

Projected Year Value (2030)

US $1,026.9 MN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Ethylene Carbonate Market is accounted for $572.7 million in 2023 and is expected to reach $1,026.9 million by 2030 growing at a CAGR of 8.7% during the forecast period. Ethylene carbonate is a chemical molecule that is largely utilized as a solvent and electrolyte in the automotive, electronics, pharmaceutical, and personal care sectors. It complexes the metal ions by joining with rust and other particles discovered in oil and gas wells to create a soluble salt. It also decomposes carbonates and substances that increase viscosity because of its acidity property. It has exceptional solubility, stability, and conductivity qualities, making it a top choice in sectors where these qualities are crucial.

According to the International Energy Agency, global sales of battery-electric vehicles reached 4.7 million in 2021, a 135% increase over the previous year. According to the Korea International Trade Association, South Korea produced USD 200.77 billion in 2021, up 25% from the year before (KITA).

Market Dynamics:


Growing emphasis on energy storage solutions

The rising use of lithium-ion batteries is a result of the push for renewable energy sources around the world and the demand for effective energy storage options. Ethylene carbonate is in high demand as a critical component since it is essential for improving the performance and stability of these batteries. Additionally, the industry is trending due to expanding urbanization and rising construction activity.


Using hazardous raw materials

Although ethylene carbonate is a more environmentally friendly solvent, its conventional production method uses hazardous substances including carbon dioxide and ethylene oxide. Ethylene oxide exposure has been linked to a number of physical and health risks, including cyanosis, headaches, nausea, and lung damage. On the other side, exposure to carbon dioxide can also cause asthma, headaches, nausea, and shortness of breath. As a result, the use of these compounds is heavily controlled, which limits the market's potential for expansion.


Rising demand for lithium batteries

The need for lithium-ion batteries has expanded due to new and interesting industries with practical and industrial applications. Lithium-ion battery demand has increased recently, especially in emerging nations, as a result of the material handling and data center industries. The demand for mobile devices, the proliferation of energy-efficient sources, the rise in electronic devices, and technological advancements in industrialized countries are all factors that are driving the demand for batteries.


High price of ethylene carbonate

The rising global demand for crude oil has caused price volatility in ethylene carbonate. The costs of transportation and production for producers of ethylene carbonate are impacted by these elevated fuel prices. They have raised the prices of their offering in the past as a response to cost increases. The growth of the ethylene carbonate market may also be hampered by government regulations pertaining to fuel efficiency.

Covid-19 Impact:

The supply chain has been interrupted as a result of the COVID-19 pandemic epidemic and the stringent government limitations put on many developed and developing countries. Movement restrictions caused severe delays in raw material deliveries, disruptions in cash flow, and a spike in absenteeism among factory workers. These elements have an impact on several of their suppliers as well as the automotive, industrial, and other end-use industries. This has also helped the ethylene carbonate markets, and it is anticipated that this will continue during the projected period.

The solid segment is expected to be the largest during the forecast period

The solid segment is expected to be the largest during the forecast period. Its prolonged shelf life and capacity to resist greater temperatures without going through chemical changes are responsible for this. It also functions as a solvent to reduce viscosity during high-temperature or high-pressure drilling operations in the oil and gas sector, particularly when other fluids are insufficiently effective because of their low viscosity.

The lubricants segment is expected to have the highest CAGR during the forecast period

The lubricants segment is expected to have the highest CAGR during the forecast period. This is due to the widespread use of lubricants in numerous sectors. To improve the performance and qualities of lubricant formulations, the substance is utilized as an additive or co-solvent. It also improves the lubricant's film-forming abilities and lubricity, reducing wear and friction on moving parts. It forms a protective coating on the metal surfaces, reducing the chance of metal-to-metal contact, surface damage, and component failure.

Region with largest share:

North America is projected to hold the largest market share during the forecast period, owing to the existence of huge firms in the chemical and automotive industries. The good characteristics of ethylene carbonate, such as wear & tear protection, heavy load holding & low friction, and thermal stability, can be ascribed to the inclination of customers turning toward synthetic lubricants. This is projected to enhance the industry's growth in the local market.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period, due to the growing adoption of electric vehicles and the increasing demand for energy storage systems in the region. Major industry players are additionally encouraged to invest in the area by elements like a robust industrial base, favorable governmental regulations, and the availability of cost-effective labour. Additionally, the region plays a significant role in the production of EV lithium-ion batteries and lithium-ion battery electrolytes.

Key players in the market

Some of the key players in Ethylene Carbonate market include New Japan Chemical Co. Ltd, Chevron Phillips Chemical, Thermo Fisher Scientific, Huntsman International LLC, BASF SE, Mitsubishi Chemical Holdings Corporation, Empower Materials, Alfa Aesar, The Merck Group, Otto Chemie Pvt. Ltd., FUJIFILM Wako Pure Chemical Corporation, Parsol Chemicals Pvt. Ltd., Vizag Chemical, Tokyo Chemical Industry Co. Ltd, Antares Chem Private Limited, RX Marine International and Lotte Chemical.

Key Developments:

In May 2023, Mitsubishi Chemical launched plant-based engineering plastic. The Mitsubishi Chemical Group will begin providing samples of DURABI D93 Series, a new grade of the plant-derived bioengineering plastic DURABI with a higher biobased synthetic polymer content.

In June 2022, Lotte Chemical, a major South Korean chemical company, will collaborate with a chemical division of Sasol, a South African energy and chemical company, to evaluate the viability of constructing and operating a joint plant to produce electrolyte solvents, which are essential components of lithium-ion batteries for electric vehicles.

Forms Covered:
• Liquid
• Solid
• Other Forms

Grades Covered:
• Battery Grade
• Pharmaceutical Grade
• Other Grades

Applications Covered:
• Plasticizers
• Surface Coatings
• Lithium Battery Electrolytes
• Organic Solvents
• Capacitor Electrolytes
• Fiber Processing Agents
• Resist Strip Solvents
• Soil Hardening Agents
• Lubricants
• Pharmaceuticals
• Other Applications

End Users Covered:
• Oil & Gas
• Industrial
• Automotive
• Personal Care and Hygiene
• Medical
• Electronics
• Textile
• Energy
• Agriculture
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Ethylene Carbonate Market, By Form
5.1 Introduction
5.2 Liquid
5.3 Solid
5.4 Other Forms

6 Global Ethylene Carbonate Market, By Grade
6.1 Introduction
6.2 Battery Grade
6.3 Pharmaceutical Grade
6.4 Other Grades

7 Global Ethylene Carbonate Market, By Application
7.1 Introduction
7.2 Plasticizers
7.3 Surface Coatings
7.4 Lithium Battery Electrolytes
7.5 Organic Solvents
7.7 Capacitor Electrolytes
7.7 Fiber Processing Agents
7.8 Resist Strip Solvents
7.9 Soil Hardening Agents
7.10 Lubricants
7.11 Pharmaceuticals
7.12 Other Applications

8 Global Ethylene Carbonate Market, By End User
8.1 Introduction
8.2 Oil & Gas
8.3 Industrial
8.4 Automotive
8.5 Personal Care and Hygiene
8.6 Medical
8.8 Electronics
8.8 Textile
8.9 Energy
8.10 Agriculture
8.11 Other End Users

9 Global Ethylene Carbonate Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 New Japan Chemical Co. Ltd
11.2 Chevron Phillips Chemical
11.3 Thermo Fisher Scientific
11.4 Huntsman International LLC
11.5 BASF SE
11.6 Mitsubishi Chemical Holdings Corporation
11.7 Empower Materials
11.8 Alfa Aesar
11.9 The Merck Group
11.10 Otto Chemie Pvt. Ltd.
11.11 FUJIFILM Wako Pure Chemical Corporation
11.12 Parsol Chemicals Pvt. Ltd.
11.13 Vizag Chemical
11.14 Tokyo Chemical Industry Co. Ltd
11.15 Antares Chem Private Limited
11.16 RX Marine International
11.17 Lotte Chemical

List of Tables
1 Global Ethylene Carbonate Market Outlook, By Region (2021-2030) ($MN)
2 Global Ethylene Carbonate Market Outlook, By Form (2021-2030) ($MN)
3 Global Ethylene Carbonate Market Outlook, By Liquid (2021-2030) ($MN)
4 Global Ethylene Carbonate Market Outlook, By Solid (2021-2030) ($MN)
5 Global Ethylene Carbonate Market Outlook, By Other Forms (2021-2030) ($MN)
6 Global Ethylene Carbonate Market Outlook, By Grade (2021-2030) ($MN)
7 Global Ethylene Carbonate Market Outlook, By Battery Grade (2021-2030) ($MN)
8 Global Ethylene Carbonate Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
9 Global Ethylene Carbonate Market Outlook, By Other Grades (2021-2030) ($MN)
10 Global Ethylene Carbonate Market Outlook, By Application (2021-2030) ($MN)
11 Global Ethylene Carbonate Market Outlook, By Plasticizers (2021-2030) ($MN)
12 Global Ethylene Carbonate Market Outlook, By Surface Coatings (2021-2030) ($MN)
13 Global Ethylene Carbonate Market Outlook, By Lithium Battery Electrolytes (2021-2030) ($MN)
14 Global Ethylene Carbonate Market Outlook, By Organic Solvents (2021-2030) ($MN)
15 Global Ethylene Carbonate Market Outlook, By Capacitor Electrolytes (2021-2030) ($MN)
16 Global Ethylene Carbonate Market Outlook, By Fiber Processing Agents (2021-2030) ($MN)
17 Global Ethylene Carbonate Market Outlook, By Resist Strip Solvents (2021-2030) ($MN)
18 Global Ethylene Carbonate Market Outlook, By Soil Hardening Agents (2021-2030) ($MN)
19 Global Ethylene Carbonate Market Outlook, By Lubricants (2021-2030) ($MN)
20 Global Ethylene Carbonate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
21 Global Ethylene Carbonate Market Outlook, By Other Applications (2021-2030) ($MN)
22 Global Ethylene Carbonate Market Outlook, By End User (2021-2030) ($MN)
23 Global Ethylene Carbonate Market Outlook, By Oil & Gas (2021-2030) ($MN)
24 Global Ethylene Carbonate Market Outlook, By Industrial (2021-2030) ($MN)
25 Global Ethylene Carbonate Market Outlook, By Automotive (2021-2030) ($MN)
26 Global Ethylene Carbonate Market Outlook, By Personal Care and Hygiene (2021-2030) ($MN)
27 Global Ethylene Carbonate Market Outlook, By Medical (2021-2030) ($MN)
28 Global Ethylene Carbonate Market Outlook, By Electronics (2021-2030) ($MN)
29 Global Ethylene Carbonate Market Outlook, By Textile (2021-2030) ($MN)
30 Global Ethylene Carbonate Market Outlook, By Energy (2021-2030) ($MN)
31 Global Ethylene Carbonate Market Outlook, By Agriculture (2021-2030) ($MN)
32 Global Ethylene Carbonate Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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