Market Insights
The Global Alkylene Carbonates Market is set to witness growth over the forecast period of 2017 to 2023 according to the report published by Market Research Future. Alkylene Carbonates are derived from an organic compound which is colorless and odorless. Alkylene Carbonates are often used as a polar solvent which can then be used as a component of electrolytes which are used in lithium batteries.
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Alkylene Carbonates have applications in various end-use industries such as agriculture, cosmetics & personal care, paints & coatings, and textiles among others. These end-use industries are thriving due to growing consumerism, demand for agricultural products, and construction sector. Emerging economies represent high promise due to the growing demand for various end-user industry products in the region as a result of rising disposable incomes. Moreover, their use in lithium batteries is a key driver as lithium batteries are used extensively for a wide number of purposes. Glycerine Carbonate is used as an emollient and humectant which has wide applications in cosmetics and personal care. Moreover, Alkylene Carbonate is a compound with low toxicity and emissions. Growing environmental concern changing regulations regarding the same are highly supportive of the use of ecological solvents, thus increasing market growth.
Key Players
Sigma-Aldrich Co. LLC., BASF SE, Mitsubishi Chemical Corporation, Tongling Jintai Chemical Industrial Co. Ltd, Huntsman International LLC, Alfa Aesar, Qingdao Shinda Chemical Co. Ltd and others are some of the more notable players that have been analyzed in MRFR’s report. Portfolio expansion via mergers, & acquisition is a key market strategy that encourages market growth while strengthening market positions.
Market Segmentation
The Global Alkylene Carbonates Market is segmented in MRFR’s report, on the basis of Type, End-Use Industry, and Region. By Type, the market is segmented to include propylene carbonate, ethylene carbonate, and glycerine carbonate. Ethylene carbonate is used as a component in lithium batteries. By End-Use Industry, the market is segmented into agriculture, textiles & fabrics, cosmetics & personal care, paints & coatings and others. The cosmetics and personal care segment accounts for 35% of the total market, making it the largest segment.
The global segmentation of the market for regional analysis includes North America, Latin America, Middle East & Africa, Asia Pacific and Europe.
Regional Analysis
The Asia Pacific accounts for the fastest growing region with regions such as North America and Europe leading the market. The Asia Pacific has a large consumer population with rising disposable income and increasing urbanization & industrialization which has led to outstanding growth for countries such as India and China. Growing manufacturing of end-use industries is expected to drive market growth. Moreover increasing purchasing power is expected to lead to increased demand for Alkalyene Carbonates.
North America and Europe are significant markets which are driven primarily due to the rising establishment of regulations that ban the use of solvents that are harmful to the environment. Increasing efforts to reduce emissions for volatile organic compounds are encouraging market players to use ecological solvents such as Alkylene Carbonate. Countries such as U.S, Germany, and France lead growth for these regions.
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