Increasing demand from automotive, industrial, and oil & gas end-use industries to drive the overall growth of the ethylene carbonate market.
The global ethylene carbonate market size is expected to grow from USD 319 million in 2020 to USD 439 million by 2025, at a CAGR of 6.6%, during the forecast period. The ethylene carbonate industry is driven by various factors, such as increasing demand for ethylene carbonate from various end-use industries such as industrial, oil & gas, medical, automotive, and personal care & hygiene. The growth of these industries is expected to further propel the growth of the market during the forecast period. However, factors, such as the scarcity of raw materials and regulations on the use of ethylene carbonates are likely to hinder the growth of the market.
Lubricants segment to drive the global market during the forecast period The ethylene carbonate market has been segmented based on applications such as lubricants, lithium battery electrolytes, plasticizers, surface coatings, and others.Among these applications, lubricants accounted for the larger share of the market during the forecast period.
The market growth in this segment is attributed to growing usage in automotive, industrial, and manufacturing sectors. These factors are expected to drive demand during the forecast period.
Automotive segment expected to account for the largest market share during the forecast period The automotive segment is proliferating owing to the different requirements by manufacturers, such as reduced emissions of volatile organic compounds (VOCs) that play a role in the formation of smog and to achieve long durable protective surface coating on vehicles.Furthermore, there has been a consistent rise in the number of vehicles in use across the globe over the past decade.
This is fueling the sales of ethylene carbonate, mainly in lubricants, in the automotive industry.
APAC is expected to record the highest growth rate during the forecast period APAC is expected to have the highest growth rate during the forecast period due to significant developments in industrial, automotive, and oil & gas end-use industries, which drives the ethylene carbonate market in the region.Furthermore, the growing population and economic growth in major countries, such as China and Taiwan, and growing disposable income will also drive the market in the APAC region.
On the other hand, North America is projected to have the second-largest market size during the forecast period. In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ethylene carbonate marketplace. • By Company Type - Tier 1: 30%, Tier 2: 30%, and Tier 3: 40% • By Designation - C Level: 30%, Directors: 50%, Others: 20% • By Region – North America: 30%, Europe: 40%, APAC: 10%, Middle East & Africa: 10% and South America: 10%
The ethylene carbonate market comprises major solution providers, such as are Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan), among others. The study includes an in-depth competitive analysis of these key players in the ethylene carbonate market, with their company profiles, and key market strategies.
Research Coverage: The report covers the ethylene carbonate market based on application, end-use industry, and region.This study aims at estimating the size and future growth potential of the market across various segmentation types.
It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ethylene carbonate market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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