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Ethylene Carbonate Market to Garner $418.5 Million, Globally, By 2027 at 6.0% CAGR, Says Allied Market Research
PORTLAND, Ore., Jan. 19, 2021 /PRNewswire/ Allied Market Research published a report, titled, Ethylene Carbonate Market by Form (Solid and Liquid), Application (Lubricants, Surface Coatings, Plasticizers, Lithium Battery Electrolytes, and Others) and End-Use (Automotive, Oil & Gas, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027. According to the report, the global ethylene carbonate industry generated $288.0 million in 2019, and is projected to generate $418.5 million by 2027, witnessing a CAGR of 6.0% from 2020 to 2027.
Prime determinants of growth
Increase in demand in lithium-ion electrolytes & lubricant applications and rise of the automotive industry in Asia-Pacific drive the growth of the global ethylene carbonate market. However, fluctuations in the prices of raw materials hinder the market growth. On the other hand, rap