Get the latest insights on price movement and trend analysis of Ethylene Carbonate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Ethylene Carbonate Price Change in July 2025? The Ethylene Carbonate Price Index in North America likely remained stable through Q2 2025, supported by consistent demand from lithium-ion battery and specialty chemical segments.

During the second quarter of 2024, the ethylene carbonate (EC) prices in China reached 878 USD/MT in June, due to the increasing product utilization by manufacturers of lithium-ion battery and disruptions in supply. Prices rose 13% from the previous year and 2% from the last quarter, reflecting steady consumption and ongoing supply constraints.

The Ethylene Carbonate Market Report is Segmented by Form (Solid, Liquid), Application (Lithium-Ion Batteries, Lubricants, Medical Products, Intermediates and Agents, Other Applications), End-User Industry (Automotive, Pharmaceuticals, Oil and Gas, Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

The global ethylene carbonate industry value reached USD 323.3 million in 2023. Over the forecast period, the value is anticipated to rise at a CAGR of 5%. The sector is predicted to increase from USD 342 million in 2024 to USD 559.6 million in 2034.

Country-wise Insights

Category-wise Insights

Ethylene Carbonate Market size projected to reach USD 3.4 Billion by 2034, growing at a remarkable CAGR 13.8% during the forecast period.

The global Ethylene Carbonate (EC) market stood at approximately 181 thousand tonnes in 2024 and is anticipated to grow at a CAGR of 5.91% during the forecast period until 2035.

The Ethylene Carbonate market was valued at USD 308.20 million in 2022 and will reach USD 502.45 million by 2030, registering a CAGR of 6.3% for the forecast period 2023-2030. Factors Impacting Ethylene Carbonate Market

Increasing demand for lithium-ion batteries

Lithium-ion is the polar solvent and it dissolves a huge amount of electrolyte. Therefore, it is utilized in the manufacture of electrolyte solutions for lithium batteries. Lithium-ion batteries are used in consumer electronics such as mobile, laptops, electronic toys, wireless headphones, handheld power tools, home appliances, and electric vehicles and energy storage systems. Increasing the disposable income of an individual leads to creating a demand for luxury products. In consumer electronics, a wide range of products are available at various prices. Therefore, it is affordable to the middle-class population. Lithium-ion batteries improve the performance of the electric vehicle. According to the IBEF global share of electric vehicles in the year 2022 is 8.3%. Therefore, increasing demand for lithium-ion batteries drives the market growth of the ethylene carbonate market.

Restraining factor for Ethylene Carbonate market:

Volatility in the raw material prices

A petroleum-based product such as crude oil is the raw material for the production of ethylene carbonate. Global supply and demand of crude oil determine crude oil prices. Whenever supply is limited, the limited price of crude oil will be high. High raw material prices affect the manufacturing of ethylene carbonate. The high cost of raw materials increases the cost of the final product.it is a challenge for the manufacturing industry to make a profit when prices of raw materials go high. Therefore, fluctuating prices of raw materials may hamper the market growth of ethylene carbonate.

Impact of the COVID-19 pandemic on Ethylene Carbonate Market:

The COVID-19 pandemic negatively affected the ethylene carbonate market. Several automotive industries were closed down due to the severity of the disease. In China, new sales of automobiles were fall by 92% in the year 2020. European countries dropped the sales of cars by 7.4% as compared to 2019. Therefore, the demand and supply chain was disturbed due to regulations on transportation. Global electric vehicle demand fell by 15% in the year 2020. After covid 19 all the industries resumed. There will be high demand for the ethylene carbonate market due to the increasing demand for lithium-ion batteries and the growing automobile industries. What is Ethylene Carbonate?

Ethylene carbonate reacts with the carbon dioxide and it produces ethylene carbonate. The chemical formula of ethylene carbonate is (CH2O)2CO. It is an odorless and colorless, transparent crystalline solid. Ethylene carbonate is known for its unique properties such as polar solvent, high dielectric constant, stability and low volatility, biodegradability, etc. It has various applications in lithium-ion batteries, surface coating, lubricants, plasticizers, etc. The end-user industries like oil and gas, Medical, industrial, and automotive utilize ethylene carbonate. In lithium-ion batteries and lithium batteries, it is a primitive component. Ethylene carbonate has excellent solvency power in the poplar and non-polar compound therefore it is useful in industries such as paint and coating and plastic. Because of its high dielectric constant property, it is used in electrolyte formulations for batteries, capacitors, and electronic devices. It has a high boiling point and it can withstand relatively high temperatures without decomposing. Therefore, it is used in high-temperature devices.

The Ethylene Carbonate Market size is expected to reach a valuation of USD 3.1 billion in 2033 growing at a CAGR of 14.60%. The Ethylene Carbonate Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

Global Vinyl Ethylene Carbonate (VEC) Market Outlook

The global market size for Vinyl Ethylene Carbonate (VEC) stood at approximately USD 3.0 billion in 2023 and is forecasted to reach roughly USD 5.5 billion by 2032, riding on an anticipated compound annual growth rate (CAGR) of about 7.7%, with the surge being fueled by technological innovations and expanding applications across multiple industries.

The growth of the Vinyl Ethylene Carbonate (VEC) market has been underpinned by an increase in demand for high-performance chemical compounds across various industrial sectors, which has steadily driven the expansion of this market on a global scale. The market's upward momentum is largely attributed to continuous advancements in production techniques, cost-effective scaling of manufacturing processes, and increased research and development investments that have led to the formulation of high purity products with improved functionalities. As industries such as lithium-ion battery manufacturing and polymer production steadily embrace VEC due to its efficiency in enhancing product longevity and overall performance, the market experiences an influx of innovation and competitive zeal. This proactive approach by manufacturers to adapt to varying quality and performance requirements across different applications has significantly bolstered market growth. Innovations in the chemical synthesis process have also reinforced the capability of producing both high purity and industrial-grade VEC, thereby eroding traditional barriers to market entry. The adoption of these new methodologies has not only reduced production costs but also resulted in better quality control measures that ensure the consistency of the final product. This increase in quality assurance measures has immensely contributed to the trust manufacturers place in VEC, nurturing an eco-system of continuous improvement and competitive excellence. With the market's growth being propelled by these multi-faceted technological and industrial advancements, stakeholders across the industry are optimistic about the sustainability of these trends, even in the face of evolving global economic conditions.

The growth factor for the Vinyl Ethylene Carbonate (VEC) market can also be linked to the rising demand from the energy storage and electronics sectors, where reliability and performance drive innovation. The application of VEC in lithium-ion batteries plays a pivotal role as the compound facilitates improved electrolyte stability, thereby enhancing battery life and performance, which is crucial in an era marked by a surge in electric vehicles and renewable energy solutions. Furthermore, the polymer production sector is witnessing a transformative shift as manufacturers seek innovative compounds that deliver superior mechanical properties and thermal stability, both of which are key attributes of VEC. Pharmaceutical intermediates offer another avenue for growth, as the chemical is increasingly utilized in the synthesis of active ingredients and drug formulations, reflecting an integrated approach to quality and operational efficiency within the pharma industry. The increasing penetration of VEC in these critical sectors has resulted in a robust investment climate that is fostering further research, while industry collaborations and strategic partnerships continue to explore newer applications and refine existing processes. The surge in demand is concurrently spurring the creation of niche markets and specialized segments, which in turn is augmenting the portfolio of products available within the broader VEC market. As supply chain efficiencies improve and regulatory frameworks become more favorable, the market is poised for sustained exponential growth, making it a focal point for investors and industry leaders alike.

A closer examination of the market growth factors reveals that a considerable investment in research and development, coupled with a rapidly evolving industrial landscape, is setting the basis for significant expansion in the Vinyl Ethylene Carbonate (VEC) domain. Manufacturers are increasingly adopting sustainable practices and leveraging eco-friendly production methods to align with global environmental directives, thereby positioning themselves as responsible contributors to the chemical industry. This adherence to sustainable methods not only fortifies the market position of VEC but also ensures long-term viability in a world where eco-conscious production is gaining prominence. In addition to sustainability efforts, market participants have been quick to harness the benefits of digitalization and automation in production processes, allowing for more precise control over product consistency and operational efficiencies. The visibility into real-time data a

Snapshot img

Ethylene Carbonate Market Size 2024-2028

The ethylene carbonate market size is forecast to increase by USD 223.48 million at a CAGR of 10.32% between 2023 and 2028. The market is experiencing significant growth, driven primarily by the increasing automotive production and the rising demand for electric vehicles.

Major Market Trends & Insights

North America dominated the market and accounted for a 35% share in 2022.
The market is expected to grow significantly in Europe as well over the forecast period.
Based on Application, the lubricants segment led the market and was valued at USD 113.35 million of the global revenue in 2022.
Based on Type, the solid segment accounted for the largest market revenue share in 2022.

Market Size & Forecast

2024 Market Size: USD 387.58 Million
Future Opportunities: USD 223.48 Million
CAGR (2024-2029): 10.32%
North America : Largest market in 2022

The market continues to evolve, driven by the ongoing pursuit of improved thermal stability, battery materials, and increased battery capacity for various applications. In the realm of energy storage, ethylene carbonate plays a crucial role in enhancing battery performance, particularly in the development of solid-state batteries and grid storage systems. Its unique properties, including ionic conductivity and electrochemical stability, contribute to the advancement of renewable energy storage technologies. Moreover, ethylene carbonate is finding applications in Power Tools and medical devices, where its high power density and battery life are essential. The raw materials used in its production are subject to continuous research and development, with a focus on reducing the carbon footprint and optimizing processes for greater efficiency and cost reduction.

What will be the Size of the Ethylene Carbonate Market during the forecast period?

Request Free Sample

The automotive industry's expansion is fueling the market's growth, as ethylene carbonate is a crucial component in the production of lithium-ion batteries used in electric vehicles. Furthermore, the data indicates that the fluctuating crude oil prices are also contributing to the market's growth, as the increasing cost of traditional fossil fuels makes electric vehicles more attractive to consumers. However, the market faces several challenges. One of the most pressing challenges is the availability and price volatility of raw materials.The Lithium battery electrolytes segment of the application is the second largest segment and was valued at USD 94.27 million in 2022.

The evolving market dynamics extend to battery safety, as manufacturers strive to improve battery design and production capacity to meet growing demand for high-performance batteries in electric vehicles and Consumer Electronics. The circular economy is also a significant factor, with a growing emphasis on the use of recycled materials and sustainable manufacturing practices. In the renewable energy sector, ethylene carbonate's role in battery technology is essential for achieving greater energy density, power density, cycle life, and charge/discharge rate. Environmental regulations continue to shape market activities, with a focus on reducing the environmental impact of battery manufacturing and improving battery safety.

Overall, the market is characterized by continuous innovation and adaptation to meet the evolving demands of various sectors, from energy storage to power tools and medical devices. The pursuit of improved thermal stability, battery materials, and increased battery capacity remains a key driver of market growth, with a focus on sustainability, cost reduction, and environmental impact.

The data suggests that the availability of ethylene oxide, a key raw material in the production of ethylene carbonate, can impact the market's supply and demand dynamics. Additionally, the production process for ethylene carbonate is energy-intensive and requires significant amounts of electricity, making it an expensive process. Companies seeking to capitalize on market opportunities and navigate these challenges effectively must focus on optimizing their production processes, securing reliable raw material supplies, and exploring alternative production methods to reduce costs and improve efficiency.

How is this Ethylene Carbonate Industry segmented?

The ethylene carbonate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Lubricants
  Lithium battery electrolytes
  Solvents
  Photochromatic
  Others


Type

  Solid
  Liquid


End-User

  Automotive
  Electronics
  Industrial
  Medical


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt

Ethylene Carbonate Market is projected to reach USD 574.5 Mn by 2031, growing at a CAGR of 6.6% during the forecast period.

Ethylene Carbonate Market witnessed USD 480 million in 2021 and exhibiting a CAGR of 6.4% over the upcoming years and projected to hit USD 788 million in 2029

The ethylene carbonate market was valued at USD 454.06 million in 2021 and is expected to grow at a CAGR of 13.7% during the forecast period.

Uncover Market Research Intellect's latest report_name, valued at current_value in 2024, expected to rise to forecast_value by 2033 at a CAGR of cagr_value from 2026 to 2033.

Ethylene Carbonate Market size was valued at USD 312.01 Million in 2024 and is projected to reach USD 503.71 Million by 2031, growing at a CAGR of 6.17% during the forecasted period 2024 to 2031.

The ethylene carbonate market is driven by its growing demand in the production of lithium-ion batteries, owing to its excellent electrochemical stability and high dielectric constant, making it a crucial component in the rapidly expanding electric vehicle (EV) and consumer electronics sectors. The increasing adoption of ethylene carbonate in the manufacturing of lubricants, as a solvent in coatings and adhesives, and as an intermediate in chemical synthesis, further boosts market growth. Additionally, the rising focus on sustainability and eco-friendly solutions enhances the demand for ethylene carbonate as it aligns with green chemistry principles. Expanding industries in emerging markets, technological advancements, and regulatory support for clean energy initiatives are also key factors propelling the market forward.

Ethylene Carbonate (EC) Market Outlook

The global Ethylene Carbonate (EC) market size was valued at USD 290 million in 2023 and is expected to reach USD 570 million by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period. The market's growth is driven by increased demand in the lithium battery electrolyte segment, which is essential for the burgeoning electric vehicle (EV) industry. Several key factors contribute to the market's expansion, including advancements in automotive technology, rising environmental awareness, and the continuous innovation in battery storage solutions.

The growth in the automotive sector, particularly the electric vehicle market, is a significant driving force behind the increasing demand for ethylene carbonate. EVs require high-performance lithium-ion batteries, and ethylene carbonate plays a crucial role as an electrolyte solvent, enhancing the batteries' efficiency and longevity. Additionally, government initiatives promoting the adoption of electric vehicles to combat climate change and reduce carbon emissions further amplify the demand for ethylene carbonate. The expected rise in EV sales globally substantiates the projected market growth.

Another critical growth factor is the rising demand for advanced lubricants and plasticizers in various industrial applications. Ethylene carbonate is integral in formulating high-performance lubricants and plasticizers, which are extensively used in the automotive and manufacturing sectors. The ability of ethylene carbonate to provide superior viscosity and thermal stability makes it indispensable in these applications. Furthermore, the ongoing industrialization and urbanization in developing regions are driving the need for efficient and reliable lubricants and plasticizers, contributing to market expansion.

The electronics industry also plays a pivotal role in the growth of the ethylene carbonate market. As consumer electronics continue to burgeon, the need for reliable and efficient batteries becomes paramount. Ethylene carbonate is a critical component in the manufacture of lithium-ion batteries used in smartphones, laptops, and other portable devices. The continuous innovation in electronic devices and the growing trend of digitalization are expected to sustain the demand for high-quality battery electrolytes, thereby driving the market for ethylene carbonate.

The role of Ethyl Methyl Carbonate Electrolyte Solvent is becoming increasingly significant in the context of advanced battery technologies. As the demand for more efficient and high-performance batteries rises, particularly in electric vehicles and portable electronics, the need for superior electrolyte solvents is paramount. Ethyl Methyl Carbonate is known for its excellent electrochemical stability and low viscosity, making it an ideal choice for enhancing the performance of lithium-ion batteries. This solvent not only improves the battery's energy density but also extends its cycle life, which is crucial for applications requiring long-lasting and reliable power sources. The integration of Ethyl Methyl Carbonate in battery formulations is expected to play a pivotal role in meeting the evolving demands of the energy storage sector.

Regionally, Asia Pacific is anticipated to dominate the ethylene carbonate market owing to its robust automotive and electronics industries. Countries such as China, Japan, and South Korea are leaders in EV production and consumer electronics manufacturing. Moreover, supportive government policies and substantial investments in renewable energy projects bolster the market's growth in the region. North America and Europe also present significant growth potential due to the increasing adoption of electric vehicles and stringent environmental regulations promoting the use of eco-friendly materials.

Application Analysis

The application segment of the ethylene carbonate market is diverse, encompassing lithium battery electrolytes, lubricants, plasticizers, surface coatings, and other niche applications. Among these, lithium battery electrolytes represent a substantial share of the market. The integration of ethylene carbonate in battery electrolytes enhances the energy density and operational efficiency of lithium-ion batteries. This is particularly crucial for electric vehicles and portable electronic devices, where high energy density and long battery life are paramount. The exponential growth in EV pro

The global Ethylene Carbonate Market study report provides detailed information on forecasts by current market dynamics and growth opportunities.

Uncover Market Research Intellect's latest Di-fluoro Ethylene Carbonate Market Report, valued at USD 120 million in 2024, expected to rise to USD 250 million by 2033 at a CAGR of 9.5% from 2026 to 2033.

The ethylene carbonate market is experiencing robust growth, driven by increasing demand from diverse sectors. The market, estimated at $500 million in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% between 2025 and 2033, reaching approximately $900 million by 2033. This growth is primarily fueled by the expanding use of ethylene carbonate as a crucial electrolyte solvent in lithium-ion batteries, a key component in the burgeoning electric vehicle (EV) and energy storage system (ESS) markets. Furthermore, its applications in the production of polycarbonate plastics and as a polar aprotic solvent in various chemical processes contribute significantly to market expansion. Major players like BASF, Mitsubishi Chemical, and Huntsman are strategically investing in expanding their production capacity and exploring innovative applications to maintain their competitive edge. However, market growth is not without its challenges. Fluctuations in raw material prices, particularly ethylene glycol, pose a significant restraint on profitability. Additionally, the emergence of alternative solvents and the potential environmental concerns associated with its production need to be addressed by industry players to ensure sustainable growth. Nevertheless, the continued growth of the electric vehicle industry, coupled with advancements in battery technology and the increasing demand for high-performance polymers, is expected to offset these challenges and drive further expansion in the ethylene carbonate market. The market segmentation indicates significant regional variations, with Asia-Pacific likely holding the largest market share due to its dominant presence in the manufacturing of lithium-ion batteries and other key applications.