The Europe Ethylene Carbonate Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 491.3 hundred Tonnes, showcasing a growth of 7.2% (2019-2022).
The enlargement is primarily driven by the increasing demand for electrolytes in lithium-ion batteries, which use ethylene carbonate as a primary production solvent ingredient. The extensive use of ethylene carbonate in electric vehicles increases the demand for its application in lithium-ion batteries. Increasing environmental consciousness has resulted in the adoption of electric vehicles. The pervasive use of electric vehicles in nations such as France, Germany, and the United Kingdom has led to the use of Li-ion batteries, increasing the demand for ethylene carbonate.
It is commonly used as a solvent in manufacturing lithium-ion batteries, supercapacitors, and other energy storage devices. It is an excellent electrolyte due to its high dielectric constant and chemical stability. The growth of the lithium-ion battery industry, driven by the increasing need for electric vehicles (EVs) and renewable energy storage solutions, has a significant impact on the market. Ethylene carbonate is a crucial component in the electrolyte formulation for these batteries. The demand for ethylene carbonate is closely tied to the production and sales of lithium-ion batteries. As the electric vehicle industry expands, the demand for ethylene carbonate is expected to rise.
According to the German Trade & Invest, the German chemical industry association reported that Germany accounted for 27% of the Euro 578 billion in sales in the total European market in 2019. The continued growth of the chemical industry in Germany, along with its emphasis on sustainability, innovation, and compliance with regulatory standards, presents opportunities for the market. Manufacturers and businesses in this market can leverage these opportunities to expand their presence and contribute to developing cleaner and more sustainable chemical processes and products.
According to the Central Intelligence Agency (CIA), the French industrial production of machinery, chemicals, automobiles, metallurgy, aircraft, electronics, textiles, food processing, and tourism was around 6.98% in 2021. The expansion of the industrial sector in France presents opportunities for the market. Manufacturers and businesses in this market can leverage these opportunities to expand their presence and contribute to developing cleaner and more sustainable industrial processes and products. Additionally, the emphasis on green technologies and sustainable practices aligns with the use of ethylene carbonate in environmentally friendly applications. The abovementioned factors boost the expansion of the market in this region.
The Germany market dominated the Europe Ethylene Carbonate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $55,918.1 Thousands by 2030. The UK market is experiencing a CAGR of 7.4% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 9.1% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Ethylene Carbonate Market will Hit $970.4 Million by 2030, at a CAGR of 8.6%
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.
By End-Use (Volume, Hundred Tonnes, USD Thousands, 2019-2030)
By Form (Volume, Hundred Tonnes, USD Thousands, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Thousands, 2019-2030)
By Country(Volume, Hundred Tonnes, USD Thousands, 2019-2030)
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