Propylene Carbonate Market to Grow with a CAGR of 2.48% through 2030
Surge in research and development activities is
expected to drive the Global Propylene Carbonate Market growth in the forecast
period, 2026-2030.
According to TechSci Research report, “Propylene
Carbonate Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2030F”, the Global Propylene Carbonate Market
stood at USD 419.80 Million in 2024 and is anticipated to grow with a CAGR of 2.48%
through 2030. Initiatives taken by government based on propylene carbonate has
led to favorable market conditions for the Global Propylene Carbonate Market.
Several factors contribute to the growth of various propylene carbonate products.
In the automotive and electronics sectors, R&D is
driving the development of next-generation batteries, with propylene carbonate
being explored for its role in enhancing the performance and stability of
lithium-ion and other advanced energy storage systems. These technological
advancements align with the growing emphasis on electric vehicles (EVs) and
renewable energy storage solutions, creating an expanded market for propylene
carbonate.
Governments, particularly in Europe, North America, and Asia, have enacted stricter environmental regulations aimed at reducing the carbon footprint of industrial processes. These regulations often encourage the adoption of greener solvents like propylene carbonate, which is biodegradable and less toxic compared to traditional solvents. Incentives such as tax rebates, green certifications, and environmental credits are provided to companies that use or develop eco-friendly alternatives, stimulating the demand for propylene carbonate in industries such as paints, coatings, and cleaning products.
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The Global Propylene Carbonate Market is segmented
into sales channel, end use, regional distribution, and company.
Based on Sales Channel, Indirect have
emerged as the dominating segment in the Global Propylene Carbonate Market in
2024. Indirect distribution benefits from well-established and extensive
networks that span across various regions and industries. These networks ensure
the widespread availability of propylene carbonate to end-users in diverse
sectors such as plastics, coatings, pharmaceuticals, and electronics. The
long-standing relationships between distributors and customers allow for
efficient product availability, even in remote or underserved regions,
providing manufacturers with broader market penetration than direct sales could
achieve on its own.
Based on Region, North America have emerged as the fastest
growing region in the Global Propylene Carbonate Market in 2024. North America
has implemented strict environmental regulations, especially in the U.S., where
the Environmental Protection Agency (EPA) enforces standards to reduce
emissions and improve air quality. Propylene carbonate is increasingly used in
environmentally-friendly applications, such as fuel additives and coatings, to
meet these regulatory requirements. This regulatory landscape has accelerated
the adoption of propylene carbonate-based products.
Major companies operating in Global Propylene
Carbonate Market are:
- Balaji Amines Limited
- Unilong Industry Co., Ltd
- Jinan finer chemical Co., Ltd
- Qingdao Aspirit Chemical Co., Ltd
- Chemichase Chemical Co.,Ltd
- Shandong Longze Chemical Co.,Ltd
- Lihua Yiweiyuan Chemical Co., Ltd.
- TIANJIN ZHONGXIN CHEMTECH CO.,LTD.(ZX CHEMTECH)
- Shandong Shida Shenghua Chemical Group
- Shandong Depu Chemical Industry Science and Technology
Co.,Ltd
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“One of the most promising applications of
nanotechnology in the propylene carbonate market is in the field of energy
storage, particularly in lithium-ion batteries. Nanomaterials, when combined
with propylene carbonate as an electrolyte solvent, have demonstrated enhanced
conductivity, stability, and energy density. The use of nanoparticles in the
electrolyte solutions helps improve the battery’s efficiency, lifespan, and
charge/discharge rates, making them ideal for electric vehicles (EVs) and
portable electronics. This development is driving the demand for
high-performance propylene carbonate-based solutions in the rapidly growing
energy storage sector”, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Propylene Carbonate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sales Channel (Direct, Indirect), By End Use (Electrolytic Solvent, Cosmetics & Personal Care, Plastics & Polymers, Reagents, Fuel Additives, Others), By Region and Competition, 2020-2030F”, has evaluated the future growth potential of Global Propylene
Carbonate Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Propylene Carbonate
Market.
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