Propylene Carbonate Market
Propylene Carbonate Market Forecasts to 2030 - Global Analysis By Form (Aqueous, Pellet, Films and Other Forms), Grade, Application, End User and By Geography
According to Stratistics MRC, the Global Propylene Carbonate Market is accounted for $443.3 million in 2024 and is expected to reach $703.3 million by 2030 growing at a CAGR of 8.0% during the forecast period. Propylene Carbonate (PC), with the chemical formula C?H?O?, is a colorless, odorless, and highly polar solvent classified as a cyclic carbonate ester. Synthesized from propylene oxide and carbon dioxide, it is eco-friendly and known for its high dielectric constant, low volatility, and excellent solubility. In the chemical industry, it acts as a reaction medium and cleaner, especially for removing carbon dioxide from natural gas and refinery streams. Additionally, its low toxicity and environmentally friendly profile make PC a safer alternative to conventional solvents like acetone and ethylene carbonate. Its versatility and chemical stability contribute to its wide range of industrial and commercial applications.
Market Dynamics:
Driver:
Growing demand for lithium-ion batteries
As electric vehicles (EVs) gain popularity, the need for efficient and high-capacity batteries grows, propelling the demand for lithium-ion batteries which use Propylene Carbonate as an electrolyte solvent. Additionally, the widespread adoption of renewable energy storage systems further supports this demand, as these systems also rely heavily on lithium-ion batteries. The rise in consumer electronics, which require compact and powerful batteries, contributes to the growing utilization of propylene carbonate increasing their market penetration.
Restraint:
Regulatory challenges in certain applications
Stringent environmental regulations and safety standards imposed by various governments can hinder the market growth. For instance, the use of Propylene Carbonate in certain industrial processes may be subject to rigorous compliance requirements, making it less appealing for manufacturers. Additionally, the potential health and safety risks associated with handling and exposure to Propylene Carbonate may lead to stricter regulatory scrutiny hampering the growth of the market.
Opportunity:
Increasing use as a green solvent
Propylene carbonate is known for its low toxicity and biodegradability, making it an environmentally friendly alternative to traditional solvents. This characteristic aligns with the growing global emphasis on sustainability and green chemistry. Industries such as pharmaceuticals, paints and coatings, and agrochemicals are increasingly adopting Propylene Carbonate for its eco-friendly properties. The shift towards sustainable practices and the development of green technologies further enhance the market potential for Propylene Carbonate
Threat:
Fluctuations in raw material prices
The cost of raw materials used in the production of propylene carbonate, such as propylene oxide and carbon dioxide, can be highly volatile due to factors like supply chain disruptions, geopolitical tensions, and changes in demand and supply dynamics. These price fluctuations can impact the profitability of manufacturers and may lead to increased production costs. Additionally, the market competition from alternative solvents and substitutes can intensify the pressure on propylene carbonate prices.
Covid-19 Impact
The Covid-19 pandemic has had a multifaceted impact on the Propylene Carbonate market. The increased demand for personal protective equipment (PPE) and healthcare products has driven the need for solvents used in manufacturing these items, including Propylene Carbonate. On the other hand, supply chain disruptions and lockdown measures have hampered production and distribution activities, causing delays and shortages. The pandemic has also accelerated the adoption of digital technologies and remote work, leading to a surge in demand for consumer electronics and batteries, indirectly benefiting the propylene carbonate market.
The aqueous segment is expected to be the largest during the forecast period
The aqueous segment is expected to account for the largest market share during the forecast period due to its widespread applications in various industries. The use of Propylene Carbonate in aqueous formulations is driven by its excellent solvency properties and compatibility with water-based systems. Industries such as coatings, adhesives, and personal care products extensively utilize aqueous propylene carbonate solutions for their enhanced performance and safety. Thus the increasing focus on sustainable and water-based formulations further boosts the demand for aqueous propylene carbonate.
The paints & coatings segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the paints & coatings segment is predicted to witness the highest growth rate owing to the demand for eco-friendly and low-VOC (volatile organic compounds) coatings driving the adoption of propylene carbonate in paints & coatings. Its ability to enhance the dispersion of pigments, improve film formation, and reduce the environmental impact makes it a preferred choice for paint and coating formulations. The growing construction and automotive industries, coupled with the rising trend of green building materials, are key factors contributing to the high market growth rate.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share attributed to the region's advanced industrial infrastructure, robust demand for lithium-ion batteries, and significant investments in research and development. Additionally, the presence of major market players and stringent environmental regulations that promote the use of sustainable solvents further bolster North America's market position.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR due to the rapid industrialization, increasing adoption of green technologies, and expanding consumer electronics market in countries like China and India. Government initiatives promoting sustainable practices and the development of advanced battery technologies are also key factors fueling the market growth in this region. The large population base and growing urbanization further create substantial opportunities for market expansion.
Key players in the market
Some of the key players in Propylene Carbonate market include Anmol Chemicals Group, AVX Corporation, BASF SE, Carl Roth, Central Drug House, Daze Group, Dhalop Chemicals, Empower Materials, Huntsman International LLC, Kowa India Pvt.Ltd, Linyi Evergreen Chemical Co., Ltd, LyondellBasell Industries, MegaChem Ltd, ReactChem Co. Ltd, Shandong Depu Chemical, Taixing Fengming Chemical and Tokyo Chemical Industry Co., Ltd.
Key Developments:
In January 2025, BASF’s Personal Care business launched a new ingredient, VitaGuard ® A to capture the continuous market demand for retinol, while reinforcing its position as a Hero ingredient in cosmetics. This latest innovation is based on the encapsulation of free retinol.
In January 2025, BASF’s Coatings division announced that BMW Group has selected the premium refinish brands Glasurit and R-M among their preferred paint brands for its aftersales network. This strategic partnership includes 50 markets where BMW Group is not present with its private label.
In December 2024, BIO INX and Carl Roth partnered to expand access to 3D bioprinting solutions. This collaboration marks Carl Roth’s first foray into the 3D bioprinting space, as the company continues its strategy of expanding into the rapidly growing 3D printing industry.
Forms Covered:
• Aqueous
• Pellet
• Films
• Other Forms
Grades Covered:
• Industrial Grade
• Battery Grade
• Pharmaceutical Grade
• Cosmetic Grade
Applications Covered:
• Solvent
• Electrolyte
• Catalyst
• Additives
• Cleaners
• Other Applications
End Users Covered:
• Paints & Coatings
• Cosmetics & Personal Care
• Pharmaceuticals
• Textile
• Energy & Power
• 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 UAE
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 2022, 2023, 2024, 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 Propylene Carbonate Market, By Form
5.1 Introduction
5.2 Aqueous
5.3 Pellet
5.4 Films
5.5 Other Forms
6 Global Propylene Carbonate Market, By Grade
6.1 Introduction
6.2 Industrial Grade
6.3 Battery Grade
6.4 Pharmaceutical Grade
6.5 Cosmetic Grade
7 Global Propylene Carbonate Market, By Application
7.1 Introduction
7.2 Solvent
7.3 Electrolyte
7.4 Catalyst
7.5 Additives
7.6 Cleaners
7.7 Other Applications
8 Global Propylene Carbonate Market, By End User
8.1 Introduction
8.2 Paints & Coatings
8.3 Cosmetics & Personal Care
8.4 Pharmaceuticals
8.5 Textile
8.6 Energy & Power
8.7 Other End Users
9 Global Propylene 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 Anmol Chemicals Group
11.2 AVX Corporation
11.3 BASF SE
11.4 Carl Roth
11.5 Central Drug House
11.6 Daze Group
11.7 Dhalop Chemicals
11.8 Empower Materials
11.9 Huntsman International LLC
11.10 Kowa India Pvt.Ltd
11.11 Linyi Evergreen Chemical Co., Ltd
11.12 LyondellBasell Industries
11.13 MegaChem Ltd
11.14 ReactChem Co. Ltd
11.15 Shandong Depu Chemical
11.16 Taixing Fengming Chemical
11.17 Tokyo Chemical Industry Co., Ltd
List of Tables
1 Global Propylene Carbonate Market Outlook, By Region (2022-2030) ($MN)
2 Global Propylene Carbonate Market Outlook, By Form (2022-2030) ($MN)
3 Global Propylene Carbonate Market Outlook, By Aqueous (2022-2030) ($MN)
4 Global Propylene Carbonate Market Outlook, By Pellet (2022-2030) ($MN)
5 Global Propylene Carbonate Market Outlook, By Films (2022-2030) ($MN)
6 Global Propylene Carbonate Market Outlook, By Other Forms (2022-2030) ($MN)
7 Global Propylene Carbonate Market Outlook, By Grade (2022-2030) ($MN)
8 Global Propylene Carbonate Market Outlook, By Industrial Grade (2022-2030) ($MN)
9 Global Propylene Carbonate Market Outlook, By Battery Grade (2022-2030) ($MN)
10 Global Propylene Carbonate Market Outlook, By Pharmaceutical Grade (2022-2030) ($MN)
11 Global Propylene Carbonate Market Outlook, By Cosmetic Grade (2022-2030) ($MN)
12 Global Propylene Carbonate Market Outlook, By Application (2022-2030) ($MN)
13 Global Propylene Carbonate Market Outlook, By Solvent (2022-2030) ($MN)
14 Global Propylene Carbonate Market Outlook, By Electrolyte (2022-2030) ($MN)
15 Global Propylene Carbonate Market Outlook, By Catalyst (2022-2030) ($MN)
16 Global Propylene Carbonate Market Outlook, By Additives (2022-2030) ($MN)
17 Global Propylene Carbonate Market Outlook, By Cleaners (2022-2030) ($MN)
18 Global Propylene Carbonate Market Outlook, By Other Applications (2022-2030) ($MN)
19 Global Propylene Carbonate Market Outlook, By End User (2022-2030) ($MN)
20 Global Propylene Carbonate Market Outlook, By Paints & Coatings (2022-2030) ($MN)
21 Global Propylene Carbonate Market Outlook, By Cosmetics & Personal Care (2022-2030) ($MN)
22 Global Propylene Carbonate Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
23 Global Propylene Carbonate Market Outlook, By Textile (2022-2030) ($MN)
24 Global Propylene Carbonate Market Outlook, By Energy & Power (2022-2030) ($MN)
25 Global Propylene Carbonate Market Outlook, By Other End Users (2022-2030) ($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 info@strategymrc.com
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