Ethylene Carbonate Market Global Trend, Segmentation and Opportunities Forecast To 2028 | FMI Report
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Ethylene carbonate is a cyclic organic compound obtained by reaction between ethylene oxide and carbon dioxide in presence of a catalyst. This carbonate ester of ethylene glycol and carbonic acid is a colorless, compound which finds a variety of applications across a diverse set of industries. It is characterized by relatively higher polarity, better solubility, higher boiling point as compared to that of some of the other conventionally used solvents, low toxicity, and is odorless. These characteristics render it an ideal solvent. Ethylene carbonate is used as an electrolytic solvent for lithium-ion batteries, as solvent for coatings, dyes, cross-linking agent for super-absorbent polymers, plastics production, as a plasticizer and as an intermediate in production of polycarbonate diols, among other applications. These application are further gaining traction in numerous number of end user industries such as automotive, oil & gas, medical and more.
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In modern scenario numerous industries are questing their way towards alternate sources of energy. Lithium ion batteries are gaining traction in numerous number of industries such as Automotive, consumer electronics due to their positive attributes. These batteries are more efficient than conventional lead batteries, requires less amount of charging time and, lighter than lead acid batteries and many more. With these attributes the demand for lead acid kept on increasing day by day which in turn increases the demand for electrolytes with better efficacy.
Also consumer preference towards the synthetic lubricants drives the demand for ethylene carbonate. Synthetic lubricants are gaining adoption in industries like Oil & Gas, Automotive, industrial and many more. Its properties like better thermal resistance, high viscosity index, ensure better operating properties for wide range of temperature and many more gives the synthetic lubricants an edge over conventional lubricants.
There are some industry challenges associated with ethylene oxide which may dents its growth in near future such as scarcity of raw material and regulations imposed by the regional government. But unavailability of substitutes for ethylene carbonate may mold regulation authorities to make flexible regulations for the usage of ethylene carbonate in long term.
Reasons for Covering this Title
The market behavior for the ethylene carbonate is remain positive as it showed firm growth in 2017 in terms of value and the same trend is expected to be followed in the near future. The growth can be attributed by the increased consumption of ethylene carbonate in numerous end user industries. There is a need of energy density and high power coupled with increasing demand for electrical vehicles which further increases the consumption of lithium ion batteries across the globe. Also strict government instructions for fuel economy, attraction towards smart electronics, and recent development in Lithium ion batteries creates the opportunity for ethylene carbonate.
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As automotive production is kept on rising the demand is generated for effective surface coating solutions which can provide low levels of Volatile organic compound emission and durability & resistance against chemicals, water and harsh weather conditions. These coating solutions are often synthesize through ethylene carbonate as a base material. Likewise, the resurgence of oil & gas upstream operation has been witnessed across the globe. In order to increase the field production and throughput the major players are using effective lubrication solutions in their upstream operations.
Opportunity-Growing Adoption of Novel Technologies in Lithium ion Batteries
As consumer behavior is shifting towards the usage of Electric vehicle. The demand for Lithium Ion batteries are sky rocketed in last few years which in turn the demand lithium ion electrolytes. But there are some factors such as overheating, big size, and inadequate charging structure may restrain the Lithium Ion batteries market. In order to address these industry challenges lithium ion manufacturers are intensifying their R&D infrastructure and adopting new technologies which further provides inevitable opportunities for ethylene carbonate manufacturers
Global Ethylene Carbonate Protection: Market Segmentation
Regional Market Outlook:
The ethylene carbonate market is segmented into the following regions — North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. With growing population and economic conditions China and India are one of the fastest growing region across the globe.
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Countries in South East Asia such as Taiwan, South Korea and ASEAN also showing firm growth as increase in number of coating manufacturers. Western Europe and Japan with increased number of Electric vehicle production enables growing consumption of ethylene carbonate. Rising consumer awareness for the usage of synthetic fibers drives the demand for Ethylene carbonate in North America Region.
Global Ethylene carbonate Market: Key Players
Examples of some of the key players operating in the global Cathodic Protection market Empower Materials, Mitsubishi Chemicals, BASF SE, Merck KgaA, Thermo Fisher Scientific, Asahi Kasei, Huntsman, Oriental Union Chemical Corporation ,Toagosei Co., Ltd., New Japan Chemical Co., Ltd, TCI Chemicals, Panax-Etec, Shandong Shida Shenghua Chemicals, Dongguan Kaixin Battery Materials ,Shandong Senjie Chemical, among others.
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