The global ethylene carbonate market was valued at USD 600.82 million in 2024 and is projected to reach USD 887.06 million by 2030, growing at a steady CAGR of 6.6% between 2025 and 2030. The increasing adoption of electric vehicles (EVs) and the rising demand for energy storage solutions are the primary factors driving market growth.

Ethylene carbonate plays a critical role in the formulation of electrolytes for lithium-ion batteries, which are extensively used in electric vehicles, renewable energy storage systems, and portable consumer electronics such as smartphones and laptops. As governments and industries worldwide continue to push toward electrification and renewable energy integration, the demand for efficient and reliable battery technologies is accelerating, directly boosting the consumption of ethylene carbonate.

Beyond batteries, ethylene carbonate has diverse industrial applications. It is widely used in the production of plastics, adhesives, coatings, and pharmaceuticals, where it functions as a solvent, plasticizer, or intermediate in chemical synthesis. The pharmaceutical industry is a particularly important end-user, as ethylene carbonate is employed as a solvent in drug formulations and as a component in polymer systems for drug packaging. With India emerging as a global hub for pharmaceuticals, the rapid growth of its domestic and export markets is fueling further demand for ethylene carbonate both regionally and internationally.

Key Market Trends & Insights:

  • Regional Leadership: The Asia Pacific region dominated the global ethylene carbonate market, capturing 37.2% revenue share in 2024. Within the region, China accounted for the largest share, owing to its strong electric vehicle production capacity, robust chemical industry, and expanding pharmaceutical sector.
  • By Form: The solid ethylene carbonate segment accounted for the largest market share at 52.2% in 2024, reflecting its widespread usage across applications. Meanwhile, the liquid ethylene carbonate segment is projected to expand at the fastest CAGR of 6.9%, driven by increasing adoption in specialized applications such as battery electrolytes and lubricants.
  • By Application: The lubricants segment led the market in 2024, owing to ethylene carbonate’s utility in enhancing lubricant performance by improving viscosity and thermal stability. However, the lithium battery electrolyte segment is expected to witness the fastest growth, supported by global EV adoption and renewable energy storage expansion.
  • By End Use: The automotive sector dominated the market in 2024, reflecting the surging production and adoption of electric vehicles globally.

Order a free sample PDF of the Ethylene Carbonate Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

  • 2024 Market Size: USD 600.82 Million
  • 2030 Projected Market Size: USD 887.06 Million
  • CAGR (2025-2030): 6.6%
  • Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

The ethylene carbonate market is moderately consolidated, with leading players focusing on innovation, sustainability, and strategic expansion to meet the rising demand. Key companies include Mitsubishi Chemical Group Corporation, Oriental Union Chemical Corporation (OUCC), and FUJIFILM Wako Pure Chemical Corporation, among others.

  • Mitsubishi Chemical Group Corporation is recognized for its diversified chemical portfolio and advanced manufacturing capabilities. The company provides high-purity ethylene carbonate tailored for lithium-ion batteries, pharmaceuticals, and cosmetics, ensuring reliable supply to global markets.
  • Oriental Union Chemical Corporation (OUCC), based in Taiwan, specializes in ethylene oxide derivatives, including ethylene carbonate. OUCC maintains a strong global presence by delivering consistent product quality for use in energy storage, cosmetics, and pharmaceutical applications.
  • FUJIFILM Wako Pure Chemical Corporation leverages its expertise in specialty chemicals to produce ethylene carbonate for advanced applications, including batteries and life sciences, contributing to innovation in high-growth industries.

Explore our latest blogs: Global Industry Herald

Conclusion:

The global ethylene carbonate market is poised for steady growth, driven by the rising adoption of electric vehicles, expanding renewable energy storage solutions, and increasing demand from industries such as pharmaceuticals, coatings, and lubricants. With Asia Pacific, particularly China, leading the market, and the lithium battery electrolyte segment emerging as the fastest-growing application, the industry is set for sustained expansion. Supported by key players like Mitsubishi Chemical Group, OUCC, and FUJIFILM Wako, ongoing investments in innovation, sustainability, and production capacity will ensure that ethylene carbonate remains a vital material across multiple industries through 2030.