Austin, March 14, 2025 (GLOBE NEWSWIRE) -- The Ethylene Carbonate Market Size was valued at 393.14 Million in 2023 and is expected to reach USD 661.55 Million by 2032, growing at a CAGR of 5.96% over the forecast period of 2024-2032.  

Surge in Demand for Ethylene Carbonate Driven by EV Market and Sustainable Applications Across Diverse Industries

The Ethylene Carbonate market is growing in high demand, due to its wide applications in automotive, electronics, and healthcare, among others. A key one is its function in lithium-ion battery electrolytes critical to the burgeoning electric vehicle (EV) sector. With the increasing demand for sustainable energy solutions, there is also a rising demand for high-purity Ethylene Carbonate to improve the performance of energy storage solutions such as batteries.

Additionally, sectors such as beauty and healthcare, are boosting market growth, where products embedded with Ethylene Carbonate are gaining importance in the market because of increasing consumer awareness. In 2023, the U.S. Department of Energy released a report, estimating a 15% annual increase in demand for Ethylene Carbonate, mainly in battery storage systems in North America and Europe. The surge is prompting key players like BASF and Mitsubishi Chemical to ramp up production.

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Key Players:

• BASF SE (Ethylene Carbonate, Propylene Carbonate, Dimethyl Carbonate)
• Mitsubishi Chemical Group Corporation (Ethylene Carbonate, Propylene Carbonate, Ethyl Methyl Carbonate)
• Huntsman International LLC (Ethylene Carbonate, Propylene Carbonate, Urethane Intermediates)
• Toagosei Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Speciality Acrylates)
• Oriental Union Chemical Corporation (OUCC) (Ethylene Carbonate, Propylene Carbonate, Ethylene Glycol)
• Shandong Shida Shenghua Chemical Group Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Dimethyl Carbonate)
• Shandong Senjie Cleantech Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Lithium Battery Electrolyte Solvents)
• Lotte Chemical (Ethylene Carbonate, Propylene Carbonate, Polycarbonate Resins)
• Taixing Taida Fine Chemical Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Lithium Battery Electrolytes)
• Zibo Donghai Industries Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Solvent-Grade Carbonates)
• Shandong Haike Chemical Group (Ethylene Carbonate, Propylene Carbonate, Dimethyl Carbonate)
• Shandong Lixing Chemical Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Chemical Intermediates)
• Dongying Hi-Tech Spring Chemical Industry Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Battery-Grade Carbonates)
• Liaoning Ganglong Chemical Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Methyl Carbonate Esters)
• Anhui Haoyuan Chemical Group Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Industrial Solvents)
• Inner Mongolia Yuan Xing Energy Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Battery-Grade Solvents)
• Hubei Xian Lin Chemical Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Lithium Battery Chemicals)
• Hengyang New Material Technology Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Specialty Chemicals)
• Shandong Jiahong Chemical Co., Ltd. (Ethylene Carbonate, Propylene Carbonate, Dimethyl Carbonate)
• Ube Industries Ltd. (Ethylene Carbonate, Propylene Carbonate, High-Purity Electrolytes)

Ethylene Carbonate Market Report Scope:

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Key Consumer Trends Driving Demand for Ethylene Carbonate Across Industries

• Ethylene Carbonate for green beauty and healthcare products are consumer-friendly.
• The demand for Ethylene Carbonate in batteries is driven by the growing popularity of electric vehicles and electronics.
• Increase in awareness towards safety of Ethylene Carbonate results in its higher penetration in cosmetics.
• Consumers are looking for high performance, long-lasting products, propelling the adoption of the high-purity Ethylene Carbonate in batteries.
• Government regulations promoting sustainability impact the selection of Ethylene Carbonate for consumers.

By Form, Liquid Form Dominated the Ethylene Carbonate Market in 2023 with a 55.2% Market Share

This form is preferred because of its relative solubility and handling properties in different domains. Liquid Ethylene Carbonate is widely employed in battery electrolytes, as it is a key component in improving the performance and stability of lithium-ion batteries. Because of its effective solubility of different materials, it is suitable for preparing high-performance electrolytes that are critical for electric vehicles and portable electronics. The liquid form is also used elsewhere as solvents for polymer production and as a plasticizer. The demand for energy-efficient solutions is increasing, and the growing electric vehicle market is expected to further drive the consumption of liquid Ethylene Carbonate.

By Application, Lithium Battery Electrolyte Application Segment Dominated the Ethylene Carbonate Market in 2023 with a 35.7% Market Share

Such dominance is due to the growing electric vehicle market and the rise of lithium-ion batteries in consumer electronics. There are also certain electrolytes that contain Ethylene Carbonate which helps to increase the overall efficiency and ionic conductivity of the battery. The demand for high purity Ethylene Carbonate is increasing due to the growing need for higher energy density and longer lifespan of batteries, with improvements in battery technology. Additionally, the growing focus on sustainability and energy efficiency across multiple sectors is driving the need for lithium battery electrolytes, positioning Ethylene Carbonate as an essential compound in this domain.

By End-use, Automotive Sector Dominated the Ethylene Carbonate Market in 2023 with a 38.6% Market Share

The primary factors contributing to this growth are the rising consumption of electric vehicles (EVs), which adopt high-performance lithium-ion batteries that need Ethylene Carbonate as an electrolyte solvent. With governments around the globe imposing stringent emissions standards and encouraging a shift towards electric mobility, automotive applications of Ethylene Carbonate are likely to grow rapidly. Furthermore, Ethylene Carbonate is employed in a range of automotive fluids and lubricants, improving their performance and efficiency. The evolution of sustainable practices in the automotive industry, along with the advancement of battery technologies, have played a crucial role in fueling this surge in Ethylene Carbonate consumption within this vertical.

Asia Pacific Region Dominated the Ethylene Carbonate Market In 2023, Holding a 41.6% Market Share.

This dominance is fueled by the rapid growth in lithium-ion battery manufacturing, particularly in China and Japan. The demand for Ethylene Carbonate was driven not just by the sharp increase in Electric Vehicle adoption, especially in China and India, but also backed up by the welcoming governmental policies for renewable energy. It is also home to major manufacturers that strengthen its market monopoly.

North America Region Holds Second Position in Ethylene Carbonate Market with a Significant Growth Rate in The Forecast Period

The growth is fueled by the increase in demand for electric vehicles and their parts including lithium-ion batteries. The rapid market growth in the region can be ascribed to the presence of a few major players such as Tesla and the supportive government incentives concerning sustainable Solutions. In the U.S., center of market growth, favorable policies also helped accelerate growth at the market.

Recent Highlights

• March 2025: Dow announced plans to build a new carbonate solvents facility in the United States to help meet growing demand while enabling more sustainable, decarbonized manufacturing.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Ethylene Carbonate Market Segmentation, by Form

8. Ethylene Carbonate Market Segmentation, by Application

9. Ethylene Carbonate Market Segmentation, by End-use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practice

13. Conclusion

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