Ethylene Carbonate Market by Application (Lithium Battery Electrolytes, Lubricants, Surface Coatings, Plasticizers), End-use Industry (Automotive, Industrial, Oil & Gas, Medical, Personal Care & Hygiene), and Region - Global Forecast to 2032
DONGYING HI-TECH SPRING CHEMICAL INDUSTRY CO., LTD.
HEFEI TNJ CHEMICAL INDUSTRY CO., LTD.
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The global ethylene carbonate market is expected to grow from USD 1.03 billion in 2025 to USD 2.14 billion by 2032, with a CAGR of 11.0% during the forecast period. This growth is mainly driven by the increasing demand for lithium-ion batteries in electric vehicles (EVs), consumer electronics, and renewable energy storage systems, where the compound acts as a key electrolyte solvent, improving ion conductivity, stability, and battery lifespan. The shift toward clean energy and transportation, supported by strict emission regulations and government incentives for EV adoption, significantly boosts consumption.
Scope of the Report
Years Considered for the Study
2021-2032
Base Year
2024
Forecast Period
2025-2032
Units Considered
Value (USD Million/Billion) and Volume (No. of Units)
Segments
Form, Application, End-use Industry, and Region
Regions covered
Asia Pacific, Europe, North America, the Middle East & Africa, and South America
Additionally, expanding applications in lubricants, coatings, and plastics-spurred by industrial growth-contribute to market expansion. The availability of cost-effective production in Asia and ongoing advancements in battery technology further propel worldwide demand for ethylene carbonate.
"The solid segment, by form, is likely to account for the second-largest share during the forecast period".
The solid segment is projected to hold the second largest share of the ethylene carbonate market during the forecast period. Solid ethylene carbonate is highly valued for its stability, ease of handling, and high purity, making it suitable for various industrial uses. It is widely used as an intermediate in the production of lubricants, plasticizers, surface coatings, and specialized chemical formulations. In the lithium-ion battery industry, solid ethylene carbonate is often favored in high-performance electrolyte formulations that require precise control over purity and composition. Additionally, its role as a solvent and crosslinking agent in polymer processing, adhesives, and sealants supports steady demand from manufacturing sectors. While growth in this segment may be slower than in the liquid form, due to the latter's dominance in EV battery applications, the versatility, storage stability, and niche application suitability of the solid form ensure it maintains a significant market share throughout the forecast period.
"Lithium battery electrolytes, by application, account for the larger share of the ethylene carbonate market primarily due to growing demand for lithium-ion batteries."
Lithium battery electrolytes dominate the ethylene carbonate market, mainly driven by the rising demand for lithium-ion batteries across various industries. Ethylene carbonate is a vital high-permittivity solvent in these batteries, allowing efficient ion movement and creating stable solid electrolyte interphases (SEI) that boost battery performance, safety, and lifespan. The fastest-growing segment is fueled by the widespread adoption of electric vehicles (EVs), supported by decarbonization efforts, strict emission standards, and government incentives. Furthermore, the booming consumer electronics sector, including smartphones, laptops, tablets, and wearables, continues to increase the need for reliable, high-energy-density batteries. In addition, the growing use of renewable energy storage systems in power grids is broadening the application of lithium-ion batteries in stationary settings. As global investments in battery manufacturing-especially in the Asia-Pacific-continue to rise, the demand for ethylene carbonate in lithium battery electrolytes is expected to stay dominant throughout the forecast period.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 - 55%, Tier 2 - 30%, and Tier 3 - 15%
By Designation: C-level - 21%, Director Level - 23%, and Others - 56%
By Region: North America - 45%, Europe - 27%, Asia Pacific - 15%, Middle East & Africa - 6%, and South America - 7%
Mitsubishi Chemical Group Corporation (Japan), Huntsman International LLC (US), TAOGOSEI CO., LTD. (Japan), Shinghwa Advanced Material Group Co., Ltd. (China), and BASF (Germany) are among the leading companies in the ethylene carbonate market. These companies have pursued partnerships and expansion strategies to grow their market share and increase revenue.
Research Coverage:
The report defines, segments, and forecasts the ethylene carbonate market based on form, application, end-use industry, and region. It offers detailed information about the main factors affecting the market's growth, such as drivers, restraints, opportunities, and challenges. It strategically profiles ethylene carbonate manufacturers, thoroughly analyzes their market share and core competencies, and monitors and examines competitive developments they undertake in the market, such as expansions and partnerships.
Reasons to Buy the Report:
The report aims to assist market leaders and new entrants by offering the most accurate estimates of revenue figures for the ethylene carbonate market and its segments. It is also designed to help stakeholders better understand the market's competitive landscape, gain insights to strengthen their business positions, and develop effective go-to-market strategies. Additionally, it enables stakeholders to grasp the market's current trends and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the following points:
Analysis of key drivers (growing demand in lithium-ion battery electrolyte and lubricant applications, massive industrial growth in Asia Pacific and Africa), restraints (volatility of raw materials prices, use of highly toxic raw materials in production of ethylene carbonate), opportunities (emergence of lithium-sulfur batteries, increasing use of bio-based plasticizers), and challenges (fluctuating oil & gas prices) influencing the growth of the ethylene carbonate market
Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities in the ethylene carbonate market
Market Development: Comprehensive information about lucrative markets - the report analyzes the ethylene carbonate market across varied regions
Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the industrial market
Competitive Assessment: A detailed analysis of market shares, growth strategies, and product offerings of leading companies such as Mitsubishi Chemical Group Corporation (Japan), Huntsman International LLC (U.S.), TOAGOSEI CO., LTD. (Japan), Shinghwa Advanced Material Group Co., Ltd. (China), Dubi Chem (UAE), ZIBO DONGHAI INDUSTRIES CO., LTD. (China), Tokyo Chemical Industry Co., Ltd. (China), Empower Materials (U.S.), Merck KGaA (Germany), BASF (Germany), FUJIFILM Wako Pure Chemical Corporation (Japan), Vizag Chemical (India), Junsei Chemical Co., Ltd. (Japan), Shandong Lixing Advanced Material Co., Ltd. (China), Zhengzhou Meiya Chemical Products Co., Ltd. (China), Indorama Ventures Public Company Limited (Thailand), LOTTE Chemical Corporation (South Korea), Ichimaru Co., Ltd. (Japan), Asahi Kasei Corporation (Japan), Yingkou Hengyang New Energy Chemical Co., Ltd. (China), and others in the ethylene carbonate market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 INCLUSIONS & EXCLUSIONS OF STUDY
1.3.2 YEARS CONSIDERED
1.3.3 CURRENCY CONSIDERED
1.3.4 UNITS CONSIDERED
1.4 STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.1.2.4 List of participating companies for primary research
2.2 MARKET SIZE ESTIMATION
2.3 BASE NUMBER CALCULATION
2.3.1 SUPPLY-SIDE APPROACH
2.4 DATA TRIANGULATION
2.5 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
2.6 ASSUMPTIONS
2.7 RISK ASSESSMENT
2.8 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN ETHYLENE CARBONATE MARKET
4.2 ASIA PACIFIC: ETHYLENE CARBONATE MARKET, BY APPLICATION AND COUNTRY
4.3 ETHYLENE CARBONATE MARKET: MAJOR COUNTRIES
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing demand in lithium-ion battery electrolyte and lubricant applications
5.2.1.2 Massive industrial growth in Asia Pacific and Africa
5.2.2 RESTRAINTS
5.2.2.1 Volatility of raw materials prices
5.2.2.2 Use of highly toxic raw materials in production of ethylene carbonate
5.2.3 OPPORTUNITIES
5.2.3.1 Emergence of lithium-sulfur batteries
5.2.3.2 Increasing use of bio-based plasticizers
5.2.4 CHALLENGES
5.2.4.1 Fluctuating oil & gas prices
5.3 PORTER'S FIVE FORCES ANALYSIS
5.3.1 BARGAINING POWER OF SUPPLIERS
5.3.2 BARGAINING POWER OF BUYERS
5.3.3 THREAT OF SUBSTITUTES
5.3.4 THREAT OF NEW ENTRANTS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM ANALYSIS
5.6 PRICING ANALYSIS
5.6.1 PRICING RANGE OF KEY PLAYERS
5.7 PATENT ANALYSIS
5.7.1 METHODOLOGY
5.7.2 PATENT PUBLICATION TRENDS
5.7.3 INSIGHTS
5.7.4 JURISDICTION ANALYSIS
5.7.4.1 List of major patents
5.8 CASE STUDY ANALYSIS
5.8.1 COMPARATIVE STUDY OF ETHYLENE CARBONATE-BASED ELECTROLYTE DECOMPOSITION AT LI, CA, AND AL ANODE INTERFACES
5.8.1.1 Objective
5.8.1.2 Challenge
5.8.1.3 Solution statement
5.8.1.4 Result
5.8.2 TEMPERATURE-RESOLVED CRYSTAL STRUCTURE OF ETHYLENE CARBONATE
5.8.2.1 Objective
5.8.2.2 Challenge
5.8.2.3 Solution statement
5.8.2.4 Result
5.8.3 HYDROLYSIS OF ETHYLENE CARBONATE WITH WATER AND HYDROXIDE UNDER BATTERY OPERATING CONDITIONS
5.8.3.1 Objective
5.8.3.2 Challenge
5.8.3.3 Solution statement
5.8.3.4 Result
5.9 INVESTMENT & FUNDING SCENARIO
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 290121)
5.10.2 EXPORT SCENARIO (HS CODE 290121)
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.11.2 BUYING CRITERIA
5.12 KEY CONFERENCES & EVENTS IN 2025-2026
5.13 REGULATORY LANDSCAPE
5.13.1 INTRODUCTION
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 TECHNOLOGY ANALYSIS
5.14.1 KEY TECHNOLIGIES
5.14.1.1 Epoxidation of ethylene
5.14.1.2 Direct synthesis via urea alcoholysis
5.14.1.3 Electrochemical reduction
5.14.2 ADJACENT TECHNOLIGIES
5.14.2.1 Carbon capture and utilization
5.14.2.2 Biomass to chemicals
5.14.2.3 Advanced catalysis
5.14.3 COMPLEMENTARY TECHNOLIGIES
5.14.3.1 Catalyst regeneration techniques
5.14.3.2 Heat recovery systems
5.14.3.3 Process simulation software
5.15 TRENDS/DISRUPTIONS IMPACTING BUSINESS
5.16 MACROECONOMIC OUTLOOK
5.16.1 GDP
5.17 IMPACT OF ARTIFICIAL INTELLIGENCE (AI) ON ETHYLENE CARBONATE MARKET
5.18 IMPACT OF 2025 US TARIFF - ETHYLENE CARBONATE MARKET
5.18.1 KEY TARIFF RATES
5.18.2 PRICE IMPACT ANALYSIS
5.18.3 IMPACT ON COUNTRY/REGION
5.18.3.1 US
5.18.3.2 Europe
5.18.3.3 Asia Pacific
5.18.4 IMPACT ON END-USE INDUSTRIES
5.18.4.1 Automotive
5.18.4.2 Industrial
5.18.4.3 Oil & gas
5.18.4.4 Medical
5.18.4.5 Personal care & hygiene
5.18.4.6 Other end-use industries
6 ETHYLENE CARBONATE MARKET, BY FORM
6.1 INTRODUCTION
6.2 SOLID
6.2.1 USE IN MULTIPLE APPLICATIONS TO DRIVE MARKET
6.3 LIQUID
6.3.1 GROWING USE IN LITHIUM-ION BATTERY ELECTROLYTES TO PROPEL MARKET
7 ETHYLENE CARBONATE MARKET, BY GRADE
7.1 INTRODUCTION
7.2 BATTERY GRADE
7.2.1 GROWTH OF EV INDUSTRY TO DRIVE MARKET
7.3 ELECTRONIC GRADE
7.3.1 INCREASING ADOPTION OF RECHARGEABLE BATTERIES IN PORTABLE ELECTRONICS TO PROPEL MARKET
7.4 INDUSTRIAL GRADE
7.4.1 INCREASING DEMAND FOR LUBRICANTS AND CHEMICAL INTERMEDIATES IN MANUFACTURING INDUSTRY TO DRIVE MARKET
8 ETHYLENE CARBONATE MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 LITHIUM BATTERY ELECTROLYTES
8.2.1 INCREASING DEMAND FOR ELECTRIC VEHICLE BATTERIES TO DRIVE MARKET
8.3 LUBRICANTS
8.3.1 INCREASED USE IN VARIOUS INDUSTRIES TO SUPPORT ADOPTION
8.4 SURFACE COATINGS
8.4.1 INCREASING USE IN END-USE INDUSTRIES TO DRIVE MARKET
8.5 PLASTICIZERS
8.5.1 INCREASED PRODUCTION OF POLYVINYL CARBONATE AND FLEXIBLE VINYL PRODUCTS TO SUPPORT MARKET GROWTH
8.6 OTHER APPLICATIONS
9 ETHYLENE CARBONATE MARKET, BY END-USE INDUSTRY
9.1 INTRODUCTION
9.2 AUTOMOTIVE
9.2.1 RISING ADOPTION OF ELECTRIC VEHICLES AND SURGING DEMAND FOR LITHIUM-ION BATTERIES TO DRIVE MARKET
9.3 INDUSTRIAL
9.3.1 RAPID INFRASTRUCTURE DEVELOPMENT TO DRIVE DEMAND
9.4 OIL & GAS
9.4.1 INCREASING INVESTMENTS IN CHEMICAL & PETROCHEMICAL PROJECTS TO SUPPORT MARKET GROWTH
9.5 MEDICAL
9.5.1 INCREASED USAGE IN MEDICAL DIAGNOSIS AS NANOPARTICLES TO PROPEL MARKET
9.6 PERSONAL CARE & HYGIENE
9.6.1 INCREASING PER CAPITA SPENDING TO DRIVE GROWTH
9.7 OTHER END-USE INDUSTRIES
10 ETHYLENE CARBONATE MARKET, BY REGION
10.1 INTRODUCTION
10.2 ASIA PACIFIC
10.2.1 CHINA
10.2.1.1 High demand for electric vehicles to drive market
10.2.2 JAPAN
10.2.2.1 Rising demand for lithium-ion batteries to propel market
10.2.3 SOUTH KOREA
10.2.3.1 Rising demand from automotive industry to drive market
10.2.4 TAIWAN
10.2.4.1 Increasing exports of ethylene carbonate to support market growth
10.2.5 REST OF ASIA PACIFIC
10.3 NORTH AMERICA
10.3.1 US
10.3.1.1 Increasing production of battery electrolytes to drive market
10.3.2 CANADA
10.3.2.1 Increasing use of ethylene carbonate in diversified applications to propel market
10.3.3 MEXICO
10.3.3.1 Growing number of automobile manufacturing facilities to aid market growth
10.4 EUROPE
10.4.1 GERMANY
10.4.1.1 Robust automotive industry to boost market
10.4.2 UK
10.4.2.1 Growing demand for lithium battery electrolytes and lubricants to drive market
10.4.3 FRANCE
10.4.3.1 Rising demand from chemical industry to boost market
10.4.4 ITALY
10.4.4.1 Increased investments in chemical industry to support market growth
10.4.5 TURKEY
10.4.5.1 Growth in automotive industry to drive market
10.4.6 RUSSIA
10.4.6.1 Growth in oil & gas and automotive industries to propel market
10.4.7 REST OF EUROPE
10.5 MIDDLE EAST & AFRICA
10.5.1 GCC COUNTRIES
10.5.1.1 UAE
10.5.1.1.1 Increasing applications in automotive industry to aid market growth
10.5.1.2 Saudi Arabia
10.5.1.2.1 Rising chemical exports to drive market
10.5.1.3 Rest of GCC Countries
10.5.2 SOUTH AFRICA
10.5.2.1 Increasing demand from medical industry to drive demand
10.5.3 REST OF MIDDLE EAST & AFRICA
10.6 SOUTH AMERICA
10.6.1 BRAZIL
10.6.1.1 Rise in automobile manufacturing to favor market growth
10.6.2 ARGENTINA
10.6.2.1 Expanding end-use industries to boost demand for ethylene carbonate
10.6.3 REST OF SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.3 REVENUE ANALYSIS
11.4 MARKET SHARE ANALYSIS
11.5 BRAND/PRODUCT COMPARISON
11.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
11.6.1 STARS
11.6.2 EMERGING LEADERS
11.6.3 PERVASIVE PLAYERS
11.6.4 PARTICIPANTS
11.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
11.6.5.1 Company footprint
11.6.5.2 Region footprint
11.6.5.3 Form footprint
11.6.5.4 Application footprint
11.6.5.5 End-use industry footprint
11.6.5.6 Grade footprint
11.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024