Chemicals Industry Today
Ethylene Carbonate Market to Reach USD 1.78 Billion by 2030, Driven by Lithium-Ion Battery Demand & Asia-Pacific Leadership | Mordor Intelligence
The global ethylene carbonate market is set for strong growth, with market size forecasted to rise from USD 1.13 billion in 2025 to USD 1.78 billion by 2030, registering a CAGR of 9.58% during the forecast period. Increasing demand from lithium-ion batteries, automotive lubricants, and chemical intermediates is driving this expansion, with Asia-Pacific emerging as the leading region for production and consumption.
The market’s expansion is closely tied to the rapid adoption of electric vehicles (EVs), the growing need for high-performance lubricants, and the rising demand for advanced chemical intermediates. Asia-Pacific continues to dominate the landscape, supported by integrated petrochemical supply chains and large-scale battery manufacturing hubs. Meanwhile, North America and Europe are focusing on purity standards and regulatory compliance, ensuring competitiveness in specialized applications.
Major Developments in the Ethylene Carbonate Market
Rising Demand from Lithium-Ion Batteries
The strongest driver of the ethylene carbonate market is its application in lithium-ion batteries, which accounted for nearly half of global consumption in 2024. Ethylene carbonate forms a stable solid-electrolyte interphase (SEI) on graphite anodes, enabling higher energy density and longer cycle life. With EV adoption accelerating worldwide, demand for battery-grade ethylene carbonate is expected to grow at an 11.54% CAGR through 2030.
Growth in Industrial and Automotive Lubricants
Beyond batteries, ethylene carbonate is increasingly used in premium lubricants for automotive and industrial applications. Its ability to dissolve additives and maintain viscosity at high temperatures makes it valuable in engine oils, wind turbine gearboxes, and metalworking fluids. This segment provides steady demand, complementing the faster-growing battery sector.
Expansion of Asian Manufacturing Capacity
Asia-Pacific, particularly China, is expanding ethylene and carbonate production capacity to meet surging local demand. Proximity to gigafactories reduces logistics costs and ensures supply security. Planned ethylene cracker projects and co-located chemical complexes are expected to reinforce Asia-Pacific’s leadership, with the region forecasted to grow at a 9.92% CAGR.
Gain Region-Wise Analysis and Localized Coverage, Including the Japanese Edition: https://www.mordorintelligence.com/ja/industry-reports/ethylene-carbonate-market?utm_source=industrytoday
Ethylene Carbonate Market Segmentation
- By Form
- Solid ethylene carbonate held 52.20% of revenue in 2024, supported by established logistics networks.
- Liquid battery-grade solutions are expanding rapidly, with a 9.81% CAGR forecast to 2030, driven by demand for moisture-controlled, high-purity products.
- By Application
- Lithium-ion batteries: 47.12% share in 2024, expected to grow fastest.
- Lubricants: steady demand in automotive and industrial sectors.
- Medical products: niche but high-margin applications.
- Intermediates and agents: used in plastics and coatings.
- By End-User Industry
- Automotive: largest segment with 41.58% share in 2024, driven by EV adoption.
- Pharmaceuticals: smaller but specialized demand.
- Oil and Gas: applications in lubricants and chemical intermediates.
- Other industries: diversified uses across chemicals and materials.
- By Geography
- Asia-Pacific: 54.62% of global revenues in 2024, leading in production and consumption.
- North America: growing demand supported by EV incentives.
- Europe: strict regulatory compliance ensures premium positioning.
- South America, Middle East & Africa: emerging opportunities through petrochemical diversification.
Key Players in the Ethylene Carbonate Industry
The competitive landscape is moderately consolidated, with leading companies leveraging vertical integration and advanced purification technologies. Major players include BASF SE, Huntsman International LLC, Mitsubishi Chemical Group Corporation, OUCC, and Shida Shenghua New Materials Group Co., Ltd..
- BASF SE: Expanding integrated complexes in China to strengthen supply chains.: Expanding integrated complexes in China to strengthen supply chains.
- Huntsman International LLC: Focused on high-purity battery-grade ethylene carbonate for North American EV programs.: Focused on high-purity battery-grade ethylene carbonate for North American EV programs.
- Mitsubishi Chemical Group: Investing in sustainable ethylene production and co-located carbonate units.: Investing in sustainable ethylene production and co-located carbonate units.
- OUCC and Shida Shenghua: Key Asian suppliers with strong regional presence.: Key Asian suppliers with strong regional presence.
Recent collaborations, such as Clariant’s partnership with OMV to reduce the carbon footprint of ethylene derivatives, highlight the industry’s shift toward sustainability. Similarly, Japanese chemical producers are exploring biomass feedstocks to achieve carbon neutrality by 2050.
Conclusion:
Challenges such as feedstock volatility and toxicity classifications remain, but vertically integrated producers are well-positioned to manage risks. With EV adoption accelerating and solid-state batteries on the horizon, ethylene carbonate is expected to remain a cornerstone of the global energy and chemical industries.
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