GVR Report cover Ethylene Carbonate Market Size, Share & Trends Report

Ethylene Carbonate Market Size, Share & Trends Analysis Report By Form (Solid, Liquid), By End-use, By Application (Lubricants, Lithium Battery Electrolyte), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-973-6
  • Number of Pages: 125
  • Format: Electronic (PDF)

Ethylene Carbonate Market Size & Trends

The global ethylene carbonate market size was valued at USD 526.93 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. The growth in demand for ethylene carbonate can be attributed to the increasing adoption of electric vehicles and the rising demand for energy storage systems. It is a critical component in the formulation of electrolytes for lithium-ion batteries which are widely used in electric vehicles, portable electronics, and renewable energy storage. The product finds application beyond batteries such as in the production of plastics, coatings, adhesives, and pharmaceuticals. The expansion of these industries in emerging economies is contributing to the market growth.

U.S. ethylene carbonate Market size and growth rate, 2023 - 2030

Also, growing awareness about environmental issues and the implementation of stringent regulations have led to a shift towards more eco-friendly alternatives. Ethylene carbonate is preferred due to its lower toxicity and environmental impact compared to other solvents and additives.

The primary raw materials required for ethylene carbonate production are ethylene oxide and carbon dioxide. Ethylene oxide is typically produced from ethylene, which is derived from petroleum or natural gas. Carbon dioxide can be obtained from various sources, including industrial waste streams or through purification from the atmosphere. The manufacturing process takes place in a controlled reactor system. The reactor is designed to handle the reaction conditions, ensure safety, and optimize production efficiency.

Form Insights

The solid form dominated the market with a revenue share of over 52% in 2022. This is attributed to its longer shelf life and ability to withstand higher temperatures without undergoing chemical changes. Solid ethylene carbonate finds extensive usage in various end-use industries including automotive, chemical, medical, and industrial sectors. It serves as an additive in the production of cosmetics, pharmaceuticals, and soldering fluxes. Additionally, in the oil and gas industry, it acts as a solvent to decrease viscosity during high-temperature or high-pressure drilling operations, especially when other fluids are insufficiently effective due to their low viscosity.

The product in its liquid form finds application in lubricants and polymers. It is extensively utilized in the production of high-density plastics that exhibit excellent resistance to impact and chemical degradation. By combining liquid ethylene carbonate with substances such as diethyl carbonate, ethene oxide, and propylene oxide, specialized materials can be created to meet specific requirements. Furthermore, the liquid form of the product plays a crucial role in the manufacturing process of lithium-ion battery electrolytes.

Application Insights

The lubricants segment dominated the market with a revenue share of over 32% in 2022. This is attributed to the extensive usage of lubricants in multiple industries including oil & gas, automotive, industrial, and others. The product is used as an additive or co-solvent in lubricant formulations to enhance their performance and properties. Additionally, it improves the lubricity and film-forming capabilities of the lubricant, reducing friction and wear between moving parts. Ethylene carbonate helps to prevent metal-to-metal contact and minimize the risk of surface damage and component failure by forming a protective film on the metal surfaces.

Lithium battery electrolyte was the second largest application segment accounting for a revenue share of more than 30% in 2022. The product is widely used in lithium battery electrolytes, particularly in lithium-ion batteries. It serves as a key component in the formulation of the electrolyte solution, which is responsible for facilitating the movement of ions between the battery's positive and negative electrodes.

Ethylene carbonate finds applications in the pharmaceutical industry. It can be used as a solvent or co-solvent in drug formulations and as a component in controlled-release systems. Additionally, it is employed in the production of coatings and adhesives. It can enhance the film-forming properties, adhesion, and durability of the coatings and adhesives.

End-use Insights

The automotive end-use dominated the market with a revenue share of more than 43% in 2022. This is attributed to increasing usage of the product in the automotive industry particularly in the manufacturing of components like ignition cable sets, spark plugs, and battery terminals. This is primarily due to the high dielectric strength of ethylene carbonate, which enhances safety and provides protection against electric shock in automotive applications.

Global ethylene carbonate Market share and size, 2022

Oil & gas was the second largest end-use segment accounting for a revenue share of more than 19% in 2022. This is attributed to its increasing utilization as a solvent in various extraction processes within the oil and gas industry. It can effectively dissolve certain substances such as aromatic hydrocarbons, and aid in their separation from the desired products. Additionally, the product is used as a component in drilling fluids. It can help reduce viscosity and enhance the lubricity of the mud, improving the drilling efficiency and reducing friction between the drill bit and the wellbore.

Ethylene carbonate is employed as a solvent or co-solvent in the formulation of pharmaceutical drugs. It can dissolve and solubilize various active pharmaceutical ingredients (APIs) or other components, aiding in the development of drug formulations with improved bioavailability and stability. It can act as a stabilizer, plasticizer, or viscosity modifier, enhancing the performance and functionality of the final drug product.

Regional Insights

Asia Pacific dominated the market with a revenue share of more than 36% in 2022. The growth is attributed to the growing adoption of electric vehicles and the increasing demand for energy storage systems in the region. Additionally, factors such as a strong industrial base, supportive government policies, and the availability of cost-effective labor incentivize major industry players to invest in the region. Moreover, the region holds a prominent position in the production of lithium-ion battery electrolytes and EV lithium-ion batteries. This is expected to drive the market growth in the coming years.

ethylene carbonate Market Trends, by Region, 2023 - 2030

China's thriving automotive industry, driven by the growing demand for electric vehicles (EVs), has significantly contributed to the increased consumption of ethylene carbonate. China has emerged as one of the leading manufacturers of EVs and lithium-ion batteries, further boosting the demand for the product. Additionally, the electronics industry in the country is witnessing substantial growth, driven by the increasing adoption of consumer electronics and advancements in technology. Ethylene carbonate is widely used in the production of electronic components, such as capacitors and printed circuit boards, which has led to a surge in its consumption.

The automotive industry in North America, particularly in the U.S., has witnessed significant growth in the production and adoption of electric vehicles. The U.S. has been focusing on reducing its dependence on fossil fuels and transitioning towards clean and renewable energy sources. This has led to the expansion of the energy storage sector, including grid-scale energy storage systems. Ethylene carbonate is used in the manufacturing of lithium-ion batteries for energy storage applications, driving its consumption in the region.

Key Companies & Market Share Insights

The market is characterized by continuous research and development activities, product innovations, strategic collaborations, and expansion efforts by the key players to maintain their market positions and meet the evolving demands of different industries. For instance, Huntsman Corporation is enhancing the current production capacity of Ultrapure Ethylene Carbonate at its Texas facility in the performance products division.

The expansion project is projected to be finalized by mid-2023. Ultrapure Ethylene Carbonate plays a vital role in ensuring the optimal performance and long-lasting durability of lithium-ion batteries utilized in electric vehicles (EVs) and electronic devices. Some prominent players in the global ethylene carbonate market include:

  • Mitsubishi Chemical Corporation

  • OUCC

  • FUJIFILM Wako Pure Chemical Corporation


  • Huntsman International LLC

  • Empower Materials

Ethylene Carbonate Market Report Scope

Report Attribute


Market size value in 2023

USD 563.3 million

Revenue forecast in 2030

USD 887.1 million

Growth rate

CAGR of 6.7% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

June 2023

Quantitative units

Volume in kilotons, revenue in USD million, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Form, application, end-use, region

Country scope

U.S.; Canada; Mexico; Germany; Italy; France; U.K.; Spain; China; Japan; India; South Korea; Brazil; Argentina; South Africa; Saudi Arabia

Key companies profiled

Mitsubishi Chemical Corporation; OUCC; FUJIFILM Wako Pure Chemical Corporation; TAOGOSEI CO.LTD.; Huntsman International LLC; Empower Materials

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Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.   

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Global Ethylene Carbonate Market Report Segmentation

This report forecasts volume and revenue growth at 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 this study, Grand View Research has segmented the global ethylene carbonate market report based on form, application, end-use, and region:

  • Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Solid

    • Liquid

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Lubricants

    • Surface Coatings

    • Lithium Battery Electrolyte

    • Plasticizers

    • Others

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

    • Automotive

    • Industrial

    • Oil & Gas

    • Medical

    • Others

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

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

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