The Latin America, Middle East and Africa Ethylene Carbonate Market would witness market growth of 9.8% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 340.8 hundred tonnes, showcasing a growth of 9.1% (2023-2030).
Ethylene carbonate is a polar aprotic solvent that can dissolve many polar and nonpolar compounds. It finds use in producing adhesives, coatings, and paints, where its solvent properties are valuable. Ethylene carbonate is used in gas separation processes, such as separating carbon dioxide (CO2) from natural gas or other gas mixtures. Its high selectivity for CO2 makes it valuable in carbon capture and storage (CCS) and natural gas purification. It is occasionally used in cosmetics and personal care products as a solvent or stabilizer in formulations. It is used as a solvent and reagent in various research applications, particularly in chemistry and materials science. The applications of ethylene carbonate are diverse, but its primary importance lies in energy storage, particularly in lithium-ion batteries and supercapacitors. As technology and sustainability trends continue to evolve, the demand and applications of ethylene carbonate may also change, driven by developments in energy storage, environmental regulations, and emerging technologies.
As per the International Trade Administration (ITA), in 2020, Aramco's average hydrocarbon production was 12.4 mmbpd, including 9.2 mmbpd of crude oil. In comparison, Aramco's average hydrocarbon production in the first half of 2021 was 11.6 mmbpd, of which 8.6 mmbpd is attributed to crude oil production. As OPEC+ has slowly raised quotas, Saudi Arabia's output has followed suit; as of June 2022, Saudi Arabia produced 10.3mmbpd of crude oil. The growth of the oil and gas industry in Saudi Arabia has created opportunities for materials like ethylene carbonate to be used in various applications within the sector and related industries. As Saudi Arabia continues to invest in industrial development, research, and sustainability, the demand for ethylene carbonate and related products is expected to grow, offering business opportunities in the market. The above factors led the market growth in this region.
The Brazil market dominated the LAMEA Ethylene Carbonate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15,446.5 Thousands by 2030. The Argentina market is showcasing a CAGR of 10.4% during (2023 - 2030). Additionally, The UAE market would register 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Ethylene Carbonate Market is Projected to reach USD 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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