Ethylene Carbonate Market To Reach $887.06 Million By 2030

Ethylene Carbonate Market Growth & Trends

The ethylene carbonate market size is estimated to reach USD 887.06  million by 2030, expanding at a CAGR of 6.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for electrolytes in lithium-ion batteries using ethylene carbonate as a major ingredient for production as a solvent.

The utilization of ethylene carbonate in lithium-ion batteries is experiencing an increase in demand due to its extensive use in electric vehicles. The growing awareness of environmental concerns has led to the adoption of electric vehicles. The widespread usage of electric vehicles in countries such as the U.S., France, China, Japan, Germany, and the UK has resulted in the use of Li-ion batteries, thereby boosting the demand for ethylene carbonate.

The product is also used as a solvent in the production of plastics, coatings, and adhesives. It can also serve as an intermediate in the synthesis of various organic compounds, including pharmaceuticals, polymers, and specialty chemicals.Additionally, it is used as an additive or co-solvent in lubricant formulations to enhance their performance and properties.

Asia Pacific dominated the market with a revenue share of more than 36% in 2022. Several countries in Asia Pacific, such as China, Japan, and South Korea are at the forefront of electric vehicle production and deployment. These countries have witnessed a surge in the manufacturing and consumption of lithium-ion batteries, which are essential components of electric vehicles.

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Ethylene Carbonate Market Report Highlights

• Solid was the dominating form in 2024 accounting for a revenue share of over 52.2%, as it is less prone to degradation compared to its liquid form. Also, it is less prone to spillage, leakage, or evaporation, reducing the risk of accidents or losses during storage and transportation

• The lubricants segment led the ethylene carbonate market with the largest revenue share in 2024. This is attributed to the extensive usage of lubricants in multiple industries, including industrial, automotive, oil & gas, and others.

• The automotive sector dominated the ethylene carbonate market with the largest revenue share in 2024.

• The Asia Pacific ethylene carbonate market dominated the global market, accounting for the largest revenue share of 37.2% in 2024.

Ethylene Carbonate Market Segmentation

Grand View Research has segmented the global ethylene carbonate market based on product, end use, and region:

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

• Solid

• Liquid

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

• Lubricants

• Surface Coatings

• Lithium Battery Electrolyte

• Plasticizers

• Others

Ethylene Carbonate End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Industrial

• Oil & Gas

• Medical

• Others

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

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

List of Key Players in Ethylene Carbonate Market

• Mitsubishi Chemical Group Corporation.

• Oriental Union Chemical Corporation (OUCC)

• FUJIFILM Wako Pure Chemical Corporation

• TOAGOSEI CO.,LTD.

• Huntsman International LLC.

• Empower Materials