ETHYLENE CARBONATE MARKET ANALYSIS

Market Challenges And Opportunities

Global Ethylene Carbonate Market Drivers:

Increasing Penetration of Electric Vehicle to Augment Ethylene Carbonate Market Growth

Ethylene carbonate is widely used in manufacturing lithium-ion batteries and lithium batteries are important component of electric vehicles. According to the IEA, in 2030, global electric vehicle sales are expected to reach 23 million as per the New Policies Scenario (excluding two-/three-wheelers). In the EV30@30 Scenario, in 2030, around 70% of the vehicle sales in China are likely to be EVs. Moreover, it is estimated that the global market share of EVs may reach 30% (245 million vehicles) by 2030.

Growing Demand As Chemical Intermediates In Chemical Sector To Foster Market Growth

Strong growth of chemical sector is fuelling growth of the market. Ethylene carbonate is widely used as intermediates in various chemical synthesis process. Global chemical output volume is predicted to expand by 3.9% in 2021, according to the American Chemistry Council (ACC), following a fall of 2.6% in 2020, which was the greatest decline in the last 40 years.

Global Ethylene Carbonate Market Opportunities:

Growing demand for lithium sulfur-batteries is projected to present significant growth opportunities for key players in the near future. Moreover, the emergence of new technology such as liquid cooling systems is projected to offer lucrative opportunities to the ethylene carbonate market in the coming years. Moreover, increasing manufacturing activities is further projected to augment market growth.

Growing use of bio-based plasticizers is again projected to serve major growth opportunities. For instance, in October 2021, Cargill launched Biovero bio-based plasticizer. It will be useful for variety of product manufacturing applications such as flooring, clothing, wires, cables and plastic films and sheets for its industrial customers throughout North America

Global Ethylene Carbonate Market Restraints:

High Cost Of Ethylene Carbonate

Owing to the high cost of ethylene carbonate, its use may be restricted in certain regions. Additionally, government policies regarding fuel efficiency may also hinder the development of the ethylene carbonate market. Hence, consumers are looking for eco-friendly and sustainable products.

Global Ethylene Carbonate Market - Impact of Coronavirus (Covid-19) Pandemic:

Unfavorable conditions arising due to the outbreak of Covid-19 is expected to restrict the market growth. The COVID-19 pandemic has had an impact on the global economy, led to considerable drop in demand for products and raw materials manufactured by various sectors across the world