Global Ethylene Carbonate Market Set to Surge, Driven by EV and Renewable Energy Boom

ethylene carbonate market is expected to witness significant growth, rising from USD 0.9 billion in 2024 to USD 3.1 billion by 2033

VANCOUVER, BRITISH COLUMBIA, CANADA, May 15, 2025 /EINPresswire.com/ -- The latest report titled Global Ethylene Carbonate Market contains an in-depth analysis of the fundamental parameters contributing to the global Ethylene Carbonate market scenario. This research report offers readers an in-depth interpretation of the dynamics of the Ethylene Carbonate market, including key drivers, opportunities, threats, and challenges. The report also briefly discusses key business strategies, supply-demand ratios, key regions, prominent market players, and offers a future outlook for the overall Ethylene Carbonate industry.

The global ethylene carbonate market is expected to witness significant growth, rising from USD 0.9 billion in 2024 to USD 3.1 billion by 2033. This surge reflects a strong compound annual growth rate (CAGR) of 14.60% over the forecast period, according to recent market analysis. The key drivers behind this expansion include growing demand for lithium-ion batteries used in electric vehicles (EVs) and renewable energy storage systems, along with advancements in the electronics and automotive industries.

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According to the International Energy Agency (IEA), global demand for EV batteries rose by 40% in 2023, reaching over 750 GWh. Despite a slight slowdown compared to previous years, demand is projected to grow 4.5 times by 2030 and nearly sevenfold by 2035. Ethylene carbonate, a vital chemical in lithium-ion battery production, is seeing increased demand as industries shift toward cleaner energy and transportation technologies.

Ethylene carbonate plays a critical role in improving the performance and life span of lithium-ion batteries. Its ability to function as an effective solvent makes it essential for the production of high-efficiency batteries used in EVs, smartphones, laptops, and other portable electronics. As more governments and industries push for low-emission solutions, the demand for advanced batteries—and in turn, ethylene carbonate—is rising rapidly.

Further boosting the market is the global expansion of renewable energy. The IEA projects an increase of more than 5,520 GW in renewable energy capacity between 2024 and 2030. Solar power is expected to lead this growth, tripling its installed capacity due to falling equipment costs and widespread public support. This rapid shift toward renewables will require large-scale energy storage, where lithium-ion batteries and ethylene carbonate are key components.

The automotive and electronics sectors are central to this market expansion. As the EV industry grows, ethylene carbonate is increasingly used to manufacture high-performance battery systems. Meanwhile, the electronics industry continues to drive demand for battery-powered devices, such as smartphones and wearable technology. A 2024 report on global electronics industry sentiment indicates an expected revenue growth of 9.5%, reflecting growing confidence and demand across the sector.

Among the different forms of ethylene carbonate, the liquid form is currently the most widely used. Its popularity stems from its effectiveness as a solvent and its compatibility with a wide range of applications, from batteries to lubricants and coatings. The liquid form is especially dominant in the automotive industry, where it is essential for producing EV batteries.

In terms of end-user segments, the automotive industry is expected to experience the fastest growth. Rising EV sales, tighter emission regulations, and growing investments in battery technology are all fueling demand for ethylene carbonate in this sector. With governments offering incentives for EV adoption and companies investing heavily in cleaner transportation, this segment is likely to play a key role in shaping the future of the market.

Despite the positive outlook, the market does face challenges. One major concern is the price volatility of raw materials, particularly ethylene oxide, which is derived from petrochemicals. Since ethylene oxide is a key input in the production of ethylene carbonate, fluctuations in crude oil prices can significantly affect manufacturing costs. This volatility may impact profit margins for producers and adds uncertainty to long-term pricing strategies.

Nevertheless, the overall market outlook remains strong. With increasing investment in electric mobility, renewable energy, and energy-efficient technologies, demand for ethylene carbonate is expected to rise steadily. As industries move toward more sustainable solutions, ethylene carbonate will continue to play a vital role in supporting global efforts to reduce carbon emissions and enhance battery performance.

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Competitive Terrain:

The global Ethylene Carbonate industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Some major companies included in the Ethylene Carbonate market report are:

BASF SE

Huntsman International LLC

Mitsubishi Chemical Corporation

Merck KGaA

Oriental Union Chemical Corporation (OUCC)

Dow Chemical Company

Ashland Global Holdings Inc.

ALFA AESAR

Thermo Fisher Scientific Inc.

Toagosei Co., Ltd.

The report further divides the Ethylene Carbonate market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Ethylene Carbonate market.

Ethylene Carbonate Market Segmentation Analysis

By Form Outlook (Revenue, USD Billion; 2020-2033)

Solid

Liquid

By Application Outlook (Revenue, USD Billion; 2020-2033)

Lithium Battery Electrolytes

Lubricants

Plasticizers

Surface Coatings

Others

By End User Outlook (Revenue, USD Billion; 2020-2033)

Automotive

Industrial

Medical

Oil & Gas

Personal Care & Hygiene

Others

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Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

Key Questions Answered by the Report:

Which region is expected to dominate the market in the coming years?

What are the recent technological and product advancements occurring in the market?

What are the key strategies adopted by the prominent players in the Ethylene Carbonate market?

What are the key product types and applications of the Ethylene Carbonate industry?

What is the outcome of SWOT analysis and Porter’s Five Forces analysis?

How is the competitive landscape of the Ethylene Carbonate market?

Who are the key players in the industry?

What is the growth rate of the industry over the coming years?

What will be the valuation of the Ethylene Carbonate Market by 2033?

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Eric Lee
Emergen Research
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sales@emergenresearch.com
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