LONDON--(BUSINESS WIRE)--The ethylene carbonate market size is expected to post a CAGR of close to 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increasing demand for plasticizers is one of the major reasons for the ethylene carbonate market growth. The demand for plasticizers is increasing significantly, especially in regions such as APAC, MEA, and South America, as they are used in large quantities to improve the properties of polymers or plastics in these economies. Plasticizers are used during the manufacture of plastics, including PVA. Ethylene carbonate is added to PVA to improve its properties such as solubility, dielectric strength, charge storage capacity, dielectric constant, and absorption efficiency.
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As per Technavio, the increasing demand for electric vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Ethylene Carbonate Market: Increasing Demand for Electric Vehicles
The demand for electric vehicles (EVs) is increasing significantly, owing to rising concerns over global warming. The increasing demand for EVs will stimulate the demand for lithium batteries. Ethylene carbonate is used as a high permittivity component of electrolytes in lithium batteries. Therefore, the rising demand for EVs will drive the growth of the ethylene carbonate market during the forecast period.
“Other factors such as the rise in oil and gas extraction activities, and the availability of raw materials will have a significant impact on the growth of the ethylene carbonate market value during the forecast period,” says a senior analyst at Technavio.
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Ethylene Carbonate Market: Segmentation Analysis
This market research report segments the ethylene carbonate market by application (lithium battery electrolyte, solvents, lubricants, photochromatic, and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region held the largest share of the market in 2019, followed by North America, Europe, MEA, and South America respectively. The growth of the ethylene carbonate market share in APAC can be attributed to factors such as the rising automotive production and increasing production of polymers.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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