Ethylene Carbonate Market
Ethylene Carbonate Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Application and End User: Global Opportunity and Industry Forecast (2025-2030)
Report ID:
1129
Industry:
Chemicals & Materials
Published on:
Jan 2026
Ethylene Carbonate Market Summary
Global Ethylene Carbonate Market had a value of USD 1.11 Billion in 2024 and expected it to hit USD 2.39 Billion by 2030, with a CAGR of 13.6 % during the forecast period.
Ethylene Carbonate Industry Trends and Analytical Insights –
Asia-Pacific dominated the Ethylene Carbonate market in 2024, driven by rapid growth in lithium-ion battery production, strong EV manufacturing base, expanding energy storage projects, and the concentration of battery and electrolyte producers in China, Japan, and South Korea.
Battery-grade Ethylene Carbonate held the largest Ethylene Carbonate Market share in 2024, due to its essential role in lithium-ion battery electrolytes, high dielectric constant, thermal stability, and rising demand from EVs, consumer electronics, and energy storage systems.
Key Ethylene Carbonate market players included BASF, Mitsubishi Chemical, Huntsman, Asahi Kasei Corporation Sigma-Aldrich, and Toagosei, focusing on capacity expansion, high-purity product development, supply-chain integration, and strategic partnerships with battery manufacturers.
Market Size & Forecast:
Market Size 2024: USD 1.11 Billion
Projected Market Size 2030: USD 2.39 Billion
CAGR (2024-2030): 13.6%
Asia Pacific dominated the market in 2024
Ethylene Carbonate Market Overview:
The global ethylene carbonate market has been experiencing robust growth in recent years, largely fueled by the rapid expansion of the lithium-ion battery industry, where ethylene carbonate serves as a critical high-dielectric solvent in electrolytes that enhance ionic conductivity and thermal stability. Production and volume trends reflect this expanding demand: in 2024, global production was estimated at roughly 500,000 metric tons, with forecasts suggesting that total Ethylene carbonate production is expected to reach 900,000 metric tons by 2034, driven by scaling of battery electrolyte and specialty chemical applications. Asia-Pacific remains the dominant production and Ethylene Carbonate consumption region—accounting for a substantial share of global demand—primarily due to China, Japan, and South Korea’s large lithium-ion battery and EV manufacturing bases. North America and Europe are also growing markets, supported by domestic battery supply chain investments and regulatory policies promoting renewable energy and EV adoption.
Ethylene carbonate is industrially produced through the cyclo-addition reaction of ethylene oxide and carbon dioxide, integrating key petrochemical intermediates into the value chain. The reliance on ethylene oxide as a feedstock connects ethylene carbonate production to broader trends in the petrochemical sector, including feedstock price volatility and efforts toward greener production routes using captured CO₂ or bio-based ethylene sources. Capacity additions in China, the U.S., and other parts of Asia are expanding output, while technological advancements aim to improve purification and yield to meet stringent battery-grade specifications.
Ethylene Carbonate Market Dynamics:
The global ethylene carbonate market continues to grow strongly as demand for high-performance energy storage solutions accelerates. One of the largest drivers is the surging adoption of electric vehicles (EVs): in 2024, EV sales surpassed 14 million units worldwide, representing an increase of more than 40% year-over-year, and forecasts suggest EV penetration could exceed 30% of all new vehicle sales by 2030. This rapid EV uptake directly increases demand for lithium-ion batteries—and in turn, for high-purity ethylene carbonate used in battery electrolytes—because each EV battery pack typically contains several kilograms of electrolyte solvent. The shift toward grid-scale energy storage is another significant driver, with global battery storage installations expected to grow nearly fivefold by 2030, creating a parallel stream of demand outside of transportation.
Industrial usage beyond batteries also contributes to market momentum. Ethylene carbonate serves as an effective solvent and intermediate in polymers, resins, coatings, and specialty chemicals, where steady growth in manufacturing has sustained demand. For instance, global chemical output expanded by approximately 3–4% annually over the past five years, and this underlying industrial expansion supports continued baseline consumption of ethylene carbonate.
A major opportunity for the ethylene carbonate market lies in next-generation battery technologies and electrolyte innovation. Research into solid-state batteries and hybrid electrolytes is expanding, and while solid electrolytes reduce reliance on liquid solvents, many hybrid designs still incorporate ethylene carbonate derivatives to balance conductivity and stability. Investment in these advanced materials is projected to grow by more than 20% annually through the late 2020s, highlighting new avenues for product differentiation and higher-value grades. Geographically, while Asia-Pacific remains the largest market, North America and Europe are expanding their domestic capacity to reduce dependency on imports, particularly for battery supply chains deemed critical for energy security. Federal incentives in the United States for battery manufacturing, for example, have helped catalyze billions in new investment in electrolyte and precursor materials, indirectly stimulating ethylene carbonate capacity additions.
Expert Insight:
From an expert perspective, the ethylene carbonate market is structurally positioned for long-term growth due to its deep integration into the lithium-ion battery value chain, particularly as EV and energy storage deployments accelerate globally. Ethylene Carbonate demand is expected to shift toward high-purity and specialty grades, driven by advanced battery chemistries and tighter performance requirements. At the same time, producers that invest early in low-carbon and CO₂-based production routes are likely to gain a competitive advantage as sustainability and supply-chain localization become decisive purchasing factors.
Ethylene Carbonate Market Segment Analysis
Based on Type, the market is segmented into Battery Grade, Electronic Grade, and Industrial Grade. Battery grade segment dominated the market in 2024 and is expected to hold the largest Ethylene Carbonate Market share over the forecast period. The battery-grade segment is the most critical and high-value segment within the ethylene carbonate market, primarily because ethylene carbonate is a core solvent used in lithium-ion battery electrolytes. Battery-grade ethylene carbonate is characterized by very high purity levels (typically ≥99.9%), extremely low moisture content, and minimal metal and ionic impurities, as even trace contaminants can negatively affect battery performance, safety, and lifespan. These stringent quality requirements make battery-grade material significantly more expensive and technologically demanding to produce than industrial-grade ethylene carbonate.
Growth of the battery-grade segment is closely tied to the rapid expansion of the electric vehicle and energy storage industries. As battery manufacturers move toward higher energy densities, faster charging, and longer lifespans, demand for ultra-high-purity ethylene carbonate continues to rise. Additionally, localization of battery supply chains in regions such as North America and Europe is encouraging investments in domestic battery-grade ethylene carbonate production facilities.
Ethylene Carbonate Market Regional Insight
Asia Pacific dominated the market in 2024 and is expected to hold the largest Ethylene Carbonate Market share over the forecast period. The Asia-Pacific region is the clear leader in the global ethylene carbonate market, accounting for a substantial share of overall consumption — typically over 55–65% of global demand — due to its dominant position in lithium-ion battery production, electric vehicle manufacturing, and large chemical facilities in China, Japan, South Korea, India, and Southeast Asia. China alone contributes a major portion of both production and consumption of Ethylene Carbonate, driven by its massive EV ecosystem and integrated battery supply chains. Regional EV deployment continues to expand at double-digit rates, reinforcing ethylene carbonate usage in battery electrolytes.
In North America, the market represents the second-largest regional share around 12–20%+, led by the U.S., where expanding gigafactory construction and energy storage projects significantly influence demand. The presence of advanced battery and chemical manufacturers, supportive government incentives for clean energy and EVs, and growing domestic electrolyte processing capacity underpin steady growth in ethylene carbonate consumption.
Ethylene Carbonate Market Competitive Landscape
Global chemical majors such as BASF, Mitsubishi Chemical, Huntsman, and Solvay occupy a strong competitive position due to their large-scale integrated production facilities, access to stable ethylene oxide feedstock, and established customer relationships across battery, electronics, and specialty chemical sectors. These companies typically operate multi-regional production networks, allowing them to ensure supply reliability and meet the growing demand for battery-grade ethylene carbonate from EV and energy storage markets. Their competitive edge lies in high-purity output, process efficiency, and long-term supply contracts with electrolyte and battery manufacturers.
BASF SE (Germany) is widely recognized as the leading producer of ethylene carbonate globally, with an annual production capacity exceeding 150,000 MT, supported by patented purification technologies for high-purity (battery-grade) EC and integrated chemical infrastructure across Europe, North America, and Asia. Mitsubishi Chemical Corporation (Japan) holds a strong position, especially in the high-purity EC segment, and is estimated to produce over 40,000 MT annually of battery-grade material, capturing a significant share of the electronic-grade market worldwide.
Ethylene Carbonate Market Scope:
Major Ethylene Carbonate Key Players include:
1. BASF SE
2. Huntsman Corporation
3. Mitsubishi Chemical Group Corporation
4. Toagosei Co., Ltd.
5. Asahi Kasei Corporation
6. Sigma-Aldrich
7. Lotte Chemical Corporation
9. Tokyo Chemical Industry Co., Ltd. (TCI)
10. Otto Chemie Pvt. Ltd.
11. Ataman Kimya
12. Thermo Fisher Scientific Inc
13. Shandong Haike Chemical Group
14. Hi-Tech Spring
15. Fujifilm Wako Pure Chemical Corporation
16. Lixing Chemical Co., Ltd.
17. Shandong Senjie Chemical Co., Ltd.
18. Liaoning Oxiranchem, Inc.
19. Zibo Donghai Industries Co., Ltd.
20. Alchem Chemical Company
21. Panax Etec Co., Ltd.
22. Empower Materials, Inc.
Frequently asked Questions:
1. Which region dominated the Ethylene Carbonate market in 2024?Ans: Asia-Pacific dominated the market in 2024, accounting for over 55–65% of global demand.
2. Which type segment held the largest Ethylene Carbonate market share?Ans: The battery-grade segment held the largest share in 2024 and is expected to remain dominant throughout the forecast period.
3. What are the key drivers of the Ethylene Carbonate market?Ans: Major drivers include rising EV sales (over 14 million units sold globally in 2024), rapid expansion of energy storage systems, and steady growth in industrial chemical applications.
4. Who are the major players in the Ethylene Carbonate market?Ans: Key players include BASF, Mitsubishi Chemical, Huntsman, Toagosei, Asahi Kasei, Lotte Chemical, and Shandong Haike Chemical Group, among others.
5. What is the expert outlook for the Ethylene Carbonate market?
Ans: Experts view the market as structurally strong, driven by long-term EV growth, energy storage expansion, and rising demand for high-purity and sustainable ethylene carbonate solutions.