Propylene Carbonate (PC) (CAS 108-32-7) Market 2019
Propylene carbonate is an organic, colourless, and odourless liquid that has numerous industrial applications. Also referred to as cyclic propylene carbonate, it is chemically, a cyclic carbonate ester synthesized from propylene glycol, carbon dioxide, and propylene oxide. Application of the chemical across different industry segment is noted to be the primary driver for its market growth.
In the cosmetic industry, propylene carbonate is used to in the making of products such as lipcolor, nail paint, and others. Increase in number of people inclining towards self-grooming is boosting the sales of cosmetics. The surge in need to enhance one’s aesthetic appeal is increasing the use of cosmetics, especially among youngsters. In addition, the rise in willingness to be presentable at work space is expected to boost the sales of cosmetics. Hence, as the need for cosmetic production increase, due to high utility of PC, its market is expected to surge.
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PC is highly used in the production of paint and adhesive. As the world population widens, the need for residential space is increasing. In addition, rapid industrialization is demand expansion of non-residentials infrastructures such as office and plants. Moreover, the growing inclination of people towards home décor, is boosting the sales of paints. These factors can spur the market growth.
Segmental Outline
The global market for propylene carbonate has been segmented by product Type and industry. Under the product section, the market has been segmented into Lithium Battery Grade and Industrial Grade. The extensive application of propylene carbonate across wealthy industries such as cosmetics, and paints and adhesive can contribute to the expansion of the market. By the industry category, the global market has been segmented into Lithium Battery, Industrial Solvent, and Dimethyl Carbonate. The widespread use of propylene carbonate as industrial solvent is likely to surge its market in the coming years.
Detailed Regional Analysis
The propylene carbonate market has been assessed across certain key region that include, North America, Asia Pacific, South America, Europe, and the Rest of the World (RoW). The United States and Canada are the main regions that has been studied under the North America segment. The South America segment has been sub-segmented into the United Kingdom, France, Italy, and Germany. India, Korea, China, and Japan are the key region of the Asia Pacific where the market has been studied.
The Rest of the World (RoW) integrates the Middle East and Africa, and the GCC countries for better market analysis. The market in the Asia Pacific is expected to register a remarkable growth due to increase in urban population triggering several constructional activities. The North America market is likely to exhibit a profound growth. The PC market in Europe, is expected to surge due to increase in number of industrial activities.
Market Key Players
Hi-tech Spring Chemical, Shandong Deepa Chemical, Shandong Feiyang Chemical, Linyi Evergreen Chemical, Taixing Fengming Chemical, Lixing Chemical, Daze Group, Shida Shenghua Chemical, BASF, Huntsman, and LyondellBasell are some of the key manufacturers of propylene carbonate.
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