Propylene Carbonate Market Overview
The report is titled as ‘Propylene Carbonate Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Propylene Carbonate market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.
The propylene carbonate market is estimated to reach at a value of US$ 389.8 Mn by the end of 2022 and expected to reach at a value of US$ 583.0 Mn by 2030 with a significant CAGR of 5.1%.
Propylene Carbonate Overview
Propylene carbonate can be understood as a polar aprotic solvent that majorly serves as a “green” sustainable substitute solvent for chemical alterations. It is a biodegradable, less toxic, colorless and non-corrosive liquid with an eminent boiling point, low vapor pressure, and EPA VOC exemption. In addition to that, with regard to its low vapor pressure and results of insignificant photochemical reactivity, propylene carbonate is considered an efficient alternative for more dangerous solvents such a methylene chloride, MEK, acetone, toluene, perchloroethylene and NMP. Owing to such beneficial properties, the propylene carbonate is witnessing higher demand across the global markets.
Other than that, propylene carbonate is also congruous with other solvents offering an effective constituent in co-solvent preparations. Attributing to which, It is comprehensively employed in the making of adhesives, paints, surface cleaners, coatings, strippers, degreasers, and inks formulas as well as in lithium-ion batteries, as electrolytic solvent, and also plays a role in the withdrawal of carbon dioxide from natural gas. Such a wide range of applications across various industries all around the world is majorly boosting the demand of propylene carbonate worldwide. Thus, the global propylene carbonate market is anticipated to grow significantly over the coming years.
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Propylene Carbonate Market Segmentation
The propylene carbonate market is segmented on the basis of form, application, and region.
Lithium Battery Electrolyte Component
VOC Exempt Solvent
Cleaning & Degreasing
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Propylene Carbonate Market Key Players
Some of the key participating players in propylene carbonate market are:
Huntsman International LLC.
LyondellBasell Industries Holdings B.V.
Anmol Chemicals Group
Kowa India Pvt. Ltd.
ReactChem Co. Ltd.
Shenghua Group Holdings Co. Ltd.
Taixing Fengming Chemical
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product developments and launches
Propylene Carbonate Adoption Rate, by Application
Top Companies Historical Growth Rate
Impact of Regulations
Advantages of Propylene Carbonate
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.
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