The Asia Pacific Ethylene Carbonate Market would witness market growth of 8.9% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 910.6 hundred tonnes, showcasing a growth of 7.5% (2019-2022).
Market trends in the chemical industry, such as the increasing emphasis on environmentally friendly and sustainable products, could also influence the market. Manufacturers may explore alternative, more sustainable sources of raw materials for ethylene carbonate production. The market is competitive, with several companies involved in its production and distribution. Major chemical companies and battery manufacturers often have a stake in this market. Regulatory standards and environmental regulations can impact the production and use of ethylene carbonate, particularly in the context of battery manufacturing. Compliance with safety and environmental standards is critical for market players. Ongoing research and development efforts focus on improving the performance and safety of lithium-ion batteries and other energy storage technologies, which may drive innovation in the market.
One of the most significant applications of ethylene carbonate is as an electrolyte solvent in lithium-ion batteries. It improves the conductivity of the electrolyte, enhancing the battery's performance and efficiency. As the demand for EVs and portable electronic devices continues to grow, the use of ethylene carbonate in lithium-ion batteries has expanded significantly. Ethylene carbonate is also used in supercapacitors as an electrolyte solvent. Supercapacitors store and release energy quickly, making them suitable for applications like vehicle regenerative braking and backup power systems. Ethylene carbonate serves as a chemical intermediate in producing various chemicals and polymers. It can be used to synthesize pharmaceuticals, plasticizers, and specialty chemicals.
According to the International Trade Administration, Japan's industry of medical devices and materials continues to be one of the world's largest to date. According to the most recent official data from the Ministry of Health, Labour, and Welfare's (MHLW) Annual Pharma Production Statistics, the Japanese industry for medical devices and supplies in 2020 was approximately USD 26 billion (USD 1 = Yen 106.8). The expansion of the medical devices sector in Japan has created opportunities for materials like ethylene carbonate to be used to develop advanced medical technologies and devices. As Japan continues to invest in healthcare innovation and address the needs of its aging population, the demand for ethylene carbonate and related products in medical device applications is expected to grow. Manufacturers and businesses in the market should monitor these trends and explore collaborations with the medical device industry to leverage these opportunities. The aforementioned factors led to the market drive in this region.
The China market dominated the Asia Pacific Ethylene Carbonate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $104,394.6 Thousands by 2030. The Japan market is registering a CAGR of 8.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9.5% during (2023 - 2030).
Based on End-Use, the market is segmented into Automotive, Oil & Gas, Industrial, Medical, and Others. Based on Form, the market is segmented into Solid, and Liquid. Based on Application, the market is segmented into Lubricants, Lithium Battery Electrolyte, Surface Coatings, Plasticizers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Chemical Holdings Corporation, FUJIFILM Wako Pure Chemical Corporation, Huntsman Corporation, Thermo Fisher Scientific, Inc., BASF Se, Cole-Parmer Instrument Company (Antylia Scientific), Oriental Union Chemical Corp., Asahi Kasei Corporation, Empower Materials, Inc. (Axess Corporation), and Merck KGaA.
Market trends in the chemical industry, such as the increasing emphasis on environmentally friendly and sustainable products, could also influence the market. Manufacturers may explore alternative, more sustainable sources of raw materials for ethylene carbonate production. The market is competitive, with several companies involved in its production and distribution. Major chemical companies and battery manufacturers often have a stake in this market. Regulatory standards and environmental regulations can impact the production and use of ethylene carbonate, particularly in the context of battery manufacturing. Compliance with safety and environmental standards is critical for market players. Ongoing research and development efforts focus on improving the performance and safety of lithium-ion batteries and other energy storage technologies, which may drive innovation in the market.
One of the most significant applications of ethylene carbonate is as an electrolyte solvent in lithium-ion batteries. It improves the conductivity of the electrolyte, enhancing the battery's performance and efficiency. As the demand for EVs and portable electronic devices continues to grow, the use of ethylene carbonate in lithium-ion batteries has expanded significantly. Ethylene carbonate is also used in supercapacitors as an electrolyte solvent. Supercapacitors store and release energy quickly, making them suitable for applications like vehicle regenerative braking and backup power systems. Ethylene carbonate serves as a chemical intermediate in producing various chemicals and polymers. It can be used to synthesize pharmaceuticals, plasticizers, and specialty chemicals.
According to the International Trade Administration, Japan's industry of medical devices and materials continues to be one of the world's largest to date. According to the most recent official data from the Ministry of Health, Labour, and Welfare's (MHLW) Annual Pharma Production Statistics, the Japanese industry for medical devices and supplies in 2020 was approximately USD 26 billion (USD 1 = Yen 106.8). The expansion of the medical devices sector in Japan has created opportunities for materials like ethylene carbonate to be used to develop advanced medical technologies and devices. As Japan continues to invest in healthcare innovation and address the needs of its aging population, the demand for ethylene carbonate and related products in medical device applications is expected to grow. Manufacturers and businesses in the market should monitor these trends and explore collaborations with the medical device industry to leverage these opportunities. The aforementioned factors led to the market drive in this region.
The China market dominated the Asia Pacific Ethylene Carbonate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $104,394.6 Thousands by 2030. The Japan market is registering a CAGR of 8.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9.5% during (2023 - 2030).
Based on End-Use, the market is segmented into Automotive, Oil & Gas, Industrial, Medical, and Others. Based on Form, the market is segmented into Solid, and Liquid. Based on Application, the market is segmented into Lubricants, Lithium Battery Electrolyte, Surface Coatings, Plasticizers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Chemical Holdings Corporation, FUJIFILM Wako Pure Chemical Corporation, Huntsman Corporation, Thermo Fisher Scientific, Inc., BASF Se, Cole-Parmer Instrument Company (Antylia Scientific), Oriental Union Chemical Corp., Asahi Kasei Corporation, Empower Materials, Inc. (Axess Corporation), and Merck KGaA.
Scope of the Study
Market Segments Covered in the Report:
By End-Use (Volume, Hundred Tonnes, USD Thousands, 2019-2030)- Automotive
- Oil & Gas
- Industrial
- Medical
- Others
- Solid
- Liquid
- Lubricants
- Lithium Battery Electrolyte
- Surface Coatings
- Plasticizers
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Mitsubishi Chemical Holdings Corporation
- FUJIFILM Wako Pure Chemical Corporation
- Huntsman Corporation
- Thermo Fisher Scientific, Inc.
- BASF SE
- Cole-Parmer Instrument Company(Antylia Scientific)
- Oriental Union Chemical Corp.
- Asahi Kasei Corporation
- Empower Materials, Inc. (Axess Corporation)
- Merck KGaA
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Ethylene Carbonate Market by End-Use
Chapter 5. Asia Pacific Ethylene Carbonate Market by Form
Chapter 6. Asia Pacific Ethylene Carbonate Market by Application
Chapter 7. Asia Pacific Ethylene Carbonate Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Mitsubishi Chemical Holdings Corporation
- FUJIFILM Wako Pure Chemical Corporation
- Huntsman Corporation
- Thermo Fisher Scientific, Inc.
- BASF SE
- Cole-Parmer Instrument Company(Antylia Scientific)
- Oriental Union Chemical Corp.
- Asahi Kasei Corporation
- Empower Materials, Inc. (Axess Corporation)
- Merck KGaA
Methodology
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