Ethylene Carbonate Market Size, Share & Growth Trends 2024–2034 | Global Forecast & Insights

Discover the Ethylene Carbonate Market is driven by EV battery demand, sustainable products, and Asia-Pacific growth.

VANCOUVER, BC, CANADA, August 14, 2025 /EINPresswire.com/ -- The global Ethylene Carbonate Market is projected to reach USD 1.2 billion in 2024 and is expected to grow to USD 2.5 billion by 2034, reflecting a healthy compound annual growth rate (CAGR) of 7.5% over the next decade.

This growth is primarily fueled by two key factors: the rising adoption of electric vehicles (EVs), which has boosted demand for lithium-ion batteries, and the growing preference for eco-friendly and biodegradable products, particularly in the personal care sector.

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Key Market Highlights

Market Size & Growth: USD 1.2 billion in 2024 → USD 2.5 billion by 2034 (CAGR: 7.5%).
Top Application: Lithium-ion batteries remain the largest segment, valued at USD 600 million in 2024 and expected to hit USD 1.5 billion by 2034.
Fastest-Growing Segment: Personal care products, driven by rising demand for sustainable ingredients, with an expected CAGR of 8%.
Regional Leader: Asia-Pacific leads global consumption with over 40% share, led by China and India.

Top Players: BASF SE, Huntsman Corporation, and Mitsubishi Chemical Corporation.
Strong Demand from EV and Sustainable Industries

The biggest driver for market expansion is the surge in EV adoption. In 2024, EV sales jumped 40% year-on-year, fueling the need for advanced lithium-ion batteries that rely on ethylene carbonate as a key component.

Alongside, the personal care industry is embracing biodegradable and non-toxic ingredients. Demand for eco-friendly solvents rose 15% year-on-year in 2024, with regulatory bodies in Europe and Asia actively supporting sustainable product formulations.

Production & Volume Growth

In 2024, the market is expected to produce 500,000 tons of ethylene carbonate. By 2034, production is forecasted to reach 900,000 tons, growing at a 6.5% CAGR in volume. The higher market value growth compared to volume reflects a shift toward premium and high-purity applications in energy storage and specialty chemicals.

Asia-Pacific: Expected to lead in production growth with a 7% CAGR, backed by industrial expansion and government-led green initiatives.
North America & Europe: Moderate growth of 5% and 4.5%, driven by technology upgrades and sustainability mandates.
Price Trends and Influences

The ethylene carbonate market has seen price fluctuations due to raw material shortages, higher energy costs, and strong demand from the battery sector. In 2024, average spot prices rose 10%, influenced by feedstock constraints.

Asia-Pacific enjoys competitive pricing thanks to lower logistics costs and strong local demand, while Europe and North America face higher operational and compliance expenses.

Some companies have adopted AI-driven pricing models, resulting in a 5% boost in average selling prices and a 2% margin improvement.

Market Drivers

Sustainability Push – Global efforts to reduce carbon emissions are accelerating the use of renewable energy storage and eco-friendly products.
Technological Advancements – Innovations in solid-state and high-density batteries are increasing the need for high-quality ethylene carbonate.
Government Policies – Initiatives like the EU Green Deal and China’s Green Development Plan are encouraging greener chemical production.

Market Restraints

Strict Environmental Regulations: Compliance with rules such as the EU’s REACH program increases operational costs.
Supply Chain Disruptions: Geopolitical tensions and pandemic-related issues have caused raw material shortages.
Price Volatility: Fluctuating ethylene oxide and energy costs impact profitability.
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Segmentation Overview

By Application:

Lithium-ion Batteries – Largest share; driven by EV growth and renewable storage needs (CAGR: 9%).
Personal Care – Fastest-growing segment due to consumer demand for natural and biodegradable ingredients (CAGR: 8%).
Lubricants, Chemical Intermediates, and Others – Steady demand in industrial and specialty uses.
Ethylene Carbonate Competitive Strategies & Notable Developments

Top 10 Companies

BASF SE
Huntsman Corporation
Mitsubishi Chemical Corporation
Oriental Union Chemical Corporation
Toagosei Co., Ltd.
Shandong Shida Shenghua Chemical Group Co., Ltd.
Zibo Donghai Industries Co., Ltd.
Alchem Chemical Company
Panax Etec
New Japan Chemical Co., Ltd.

Strategy

Top players in the Ethylene Carbonate Market are competing through vertical integration, strategic partnerships, and innovation. BASF SE, for instance, holds a 20% market share, driven by its extensive product portfolio and global distribution network. The company focuses on sustainable product development, allocating 20% of its R&D budget to eco-friendly solutions. Strategic moves include mergers and acquisitions, such as Mitsubishi Chemical Corporation's acquisition of a leading battery materials company, enhancing its market position. Partnerships, like Huntsman Corporation's collaboration with a major automotive manufacturer, aim to develop advanced battery technologies. Innovation benchmarks include patent filings, with BASF SE leading the market with 150 patents related to ethylene carbonate applications in 2024.

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Ethylene Carbonate Market Segmentation

By Product Type
Solid Ethylene Carbonate
Liquid Ethylene Carbonate

By Application
Lithium-Ion Batteries
Lubricants
Personal Care
Chemical Intermediates
Others

By End User
Automotive
Industrial
Consumer Goods
Electronics
Others

By Technology
Conventional
Advanced

By Distribution Channel
Direct Sales
Distributors
Online Retail

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