2-(2,2,2-Trifluoroethoxy)-1,3,2-Dioxaphospholane-2-Oxide Market Size, Share & Trends Analysis Report By End-use (Automotive, Consumer Electronics), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide market size was valued at USD 507.6 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2030. Rising demand for lithium-ion batteries in automotive & electronic devices is the major market driver. 2-(2,2,2-trifluoromethoxy)-1,3,2-dioxaphospholane 2-oxide is majorly used as a flame-retardant electrolyte in lithium-ion batteries, which are used in electric vehicles and other electronic devices. With the rapid development of EVs and wearable and portable electronic devices, high-performance energy storage devices are witnessing a strong global demand. Due to their high operating voltages and energy densities, lithium-ion batteries are increasingly used in portable consumer electronics as they utilize organic electrolytes to store energy.

The growth of the market for lithium-ion batteries in the U.S. is driven by the increasing adoption of electric vehicles, along with the presence of stringent regulations implemented by the government to control greenhouse gas (GHG) emissions. Additionally, with the surging sales of electric vehicles, the demand for lithium-ion batteries in the automotive industry in the U.S. is expected to increase significantly during the forecast period. According to the International Energy Agency, sales of electric vehicles in the U.S. and Canada grew by more than 55% between 2021 and 2022.

End-use Insights

The automotive end-use segment dominated the global 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide market with a revenue share of 66.6% in 2022. This is attributed to the global automotive industry being a significant consumer of lithium-ion batteries, with electric vehicles being their primary applications. As these batteries are used in EVs, an increase in their demand is directly linked to the surge in sales of lithium-ion batteries installed in automobiles.

The solvent is used for manufacturing lithium-ion batteries, which are commonly utilized in consumer electronics such as smartphones, laptops, and tablets. It is an important component in the development of high-performance batteries used in consumer electronics, as it improves the stability and performance of these batteries.

Other end-uses of the product include aerospace, marine, healthcare devices, etc. As 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide improves the stability and performance of lithium-ion batteries, it acts as an important component in the development of high-performance batteries for use in a variety of industries. In the aerospace industry, lithium-ion batteries are used to power a variety of equipment, including spacecraft, satellites, and drones.

Regional Insights

The Asia Pacific region dominated the global market with a revenue share of 81.8% in 2022. The strong market demand in Asia Pacific can be attributed primarily to its applications in lithium-ion batteries. China and India are expected to emerge as key countries for lithium-ion battery manufacturers in the near future, owing to the strengthening government support for renewable energy and electric vehicles, along with the increasing middle-class population. These factors are fueling the demand for consumer electronics in these countries.

The automotive industry in Europe is expected to experience significant growth in the coming years, owing to the increasing adoption of electric vehicles in the region. This trend is anticipated to provide a substantial boost to the growth of the lithium-ion battery industry in Europe. There has been a surge in the proliferation of different vehicle types worldwide with varying degrees of electrification and hybridization, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and electric vehicles (EVs).

The product is extensively used in lithium-ion batteries. The growth of the market for lithium-ion batteries in North America is driven by the increasing adoption and use of electric vehicles, along with the presence of stringent regulations implemented by the government to control greenhouse gas (GHG) emissions. Additionally, with the surging sales of electric vehicles, the demand for lithium-ion batteries in the automotive industry of North America is expected to increase significantly during the forecast period. According to the International Energy Agency, the sales of electric vehicles in the U.S. and Canada grew by more than 55% between 2021 and 2022.

Key Companies & Market Share Insights

The market for 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide is characterized by intense competition. Major players expanding into different regions are engaged in diversifying their product portfolios and extending their global reach. These manufacturing companies are forming various strategic partnerships and distribution agreements to cater to the growing demand for their products in new geographical markets. Some of the prominent players in the global 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide market include:

• Innopharmchem.com (NINGBO INNO PHARMCHEM CO., LTD.)

• Tokyo Chemical Industry Co., Ltd.

• Hangzhou MolCore BioPharmatech Co., Ltd.

• Dalian Ease New Material Co., Ltd.

• Shanghai Minstar Chemical Co., Ltd.

2-(2,2,2-Trifluoroethoxy)-1,3,2-Dioxaphospholane-2-Oxide Market Report Scope

Global 2-(2,2,2-Trifluoroethoxy)-1,3,2-Dioxaphospholane-2-Oxide Market Report Segmentation

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global 2-(2,2,2-trifluoroethoxy)-1,3,2-dioxaphospholane-2-oxide market report on the basis of end-use, and region:

• End-use Outlook (Volume, Kilograms; Revenue, USD Million, 2018 - 2030)

  • Automotive

  • Consumer Electronics

  • Others

• Regional Outlook (Volume, Kilograms; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • Poland

    • Hungary

  • Asia Pacific

    • China

    • Japan

    • South Korea

  • Central & South America

  • Middle East & Africa