The global ethylene carbonate market size was valued at USD 184.2 million in 2024. The market is expected to grow from USD 206.8 million in 2025 to USD 412.6 million by 2032 at a CAGR of 10.4% during the forecast period. Asia Pacific dominated the ethylene carbonate market with a market share of 63.02% in 2024.
Ethylene carbonate has emerged as an ideal solvent for different applications owing to its efficacy of providing high solubility and polarity against water. The market growth can be attributed to the growing demand for lithium-ion batteries and supercapacitors. The efficacy of offering high polarity and high solubility against water has made ethylene carbonate an ideal solvent for various applications. As a polar solvent, it is used to make lubricants, plastics, resins, surface coatings, and others. It is classified as a cyclic carbonate ester of ethylene glycol and carbonic acid. Apart from being an excellent solvent, it is also utilized as an intermediate in chemical synthesis, which created additional demand during the historical period.
Fortune Business Insights™ provides this information in its research report, titled “Ethylene Carbonate Market, 2025-2032”.
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List of Key Players Mentioned in the Report:
Segmentation:
Increasing Demand for Lithium Batteries to Augment the Battery Grade Segment Growth
In terms of grade, the market is divided into industrial grade, battery grade, and electronic grade. The battery grade segment is anticipated to expand at the fastest annual growth rate during the forecast period. The growth in the demand for lithium batteries in which the product is deployed as an electrolyte is fostering the battery grade segment growth.
Lithium Battery Electrolyte Segment to Secure Largest Share Due to Surging Demand for Lithium-ion Batteries