Ethylene Carbonate Market - Global Industry Analysis
From 2021 to 2028, the Ethylene Carbonate Market is expected to increase at a CAGR of 6.17 percent, from USD 273.4 million in 2020 to USD 442.6 million in 2028.
Due to rising demand for lubricants and lithium-ion batteries in the automotive and technology industries, as well as increased government restrictions on fuel economy, the global Ethylene Carbonate Market has seen considerable expansion. The Global Ethylene Carbonate Market study offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.
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Definition of a Market
The natural or organic compound ethylene carbonate (EC) has the formula (CH2O)2CO. Ethylene carbonate is a fruity-smelling translucent to yellowish solid. The interaction between ethylene oxide and carbon dioxide produces ethylene carbonate. Ethylene carbonate is used in the electrolyte solution of lithium batteries and as a reactant in the manufacture of polycarbonate diol because it is an exceptionally polar solvent that dissolves a large amount of electrolyte. To reduce the viscosity and melting point of such electrolytes, additional substances such as diethyl carbonate, ethyl methyl carbonate, dimethyl carbonate, and methyl acetate can be added.
Oriental Union Chemical Corporation (OUCC), BASF, Mitsubishi Chemical, Huntsman, Toagosei, Asahi Kasei, New Japan Chemical, Zibo Donghai Industries, Shandong Shida Shenghua Chemical Group, and Shandong Senjie Chemical are some of the major players covered in the "Global Ethylene Carbonate Market" research report. Our market analysis also includes a part dedicated only to such significant firms, in which our experts present an overview of all of the main players' financial statements, as well as product benchmarking and SWOT analysis.
Product Introductions and Expansions
• Huntsman Corporation announced the expansion of its collaboration with distributor partner Azelis Americas CASE, LLC in the US and Azelis Canada, Inc. in Canada in January 2021. This agreement is expected to guide the company's Material Science business allocation in the United States and Canada.
• Huntsman Corporation said in June 2021 that its Performance Products business aims to significantly expand its existing ULTRAPURETM Ethylene Carbonate facilities at its Conroe, Texas location by mid-2023. ULTRAPURETM Ethylene Carbonate is critical for lithium-ion battery system dependability and long-term operation in electric automobiles and gadgets.