Propylene Carbonate Market: Introduction
Propylene Carbonate is a transparent organic chemical compound made by reacting propylene with carbon dioxide. Propylene Carbonate is a propylene glycol derived from carbonate ester, known as a VOC-exempt solvent aprotic and polar solvent. Along with high boiling and flash points and a mild ether-like odor, propylene carbonate is also non-corrosive. Being listed in the EPA Safer Chemicals Ingredients List in the Solvents category, propylene carbonate is used in a number of end uses including paints & coatings, adhesives & sealants, pharmaceuticals, Li-ion batteries, personal care and cleaners amongst others. Though not all companies offer the pharmaceutical grade propylene carbonate, majority of the market offers the battery and industrial grades of propylene carbonate for use in the above mentioned application areas.
Propylene Carbonate Market: Segmentation
The global Propylene Carbonate market is segmented on the basis of grade, end-use industry and region.
Based on the application, the global Propylene Carbonate market is segmented as:
Solvent
Electrolyte
Additive & Chemical intermediate
Others
Based on the end use, the global Propylene Carbonate market is segmented as:
Li-ion batteries
Paints & Coatings
Cosmetics & Personal Care
Foundry
Polyurethanes
Others
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Based on region, the global Propylene Carbonate market is segmented as:
North America
Latin America
Europe
CIS & Russia
Japan
Asia Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
The application of Propylene Carbonate in Lithium-ion batteries (as an electrolyte) and paints & coatings & cleaning applications is estimated to account for over 50% of the market over the forecast period owing to its versatility and wide scale applications.
Propylene Carbonate Market: Dynamics
The key driving factor for the global Propylene Carbonate market is the paints & coatings market and its use as an electrolyte in Lithium-ion batteries. The other key applications of propylene carbonate are its use as a cleaning solvent and additive. An increasing emergence of and popularity of hybrid and electric vehicles is being observed globally owing to environmental change concerns, forcing governments to promote renewable energy resource adoption. Strict policies are being recommended by governments on exhaust standards in automotives with a goal to reduce polluting factors and protect the environment. A number of automotive manufacturers have also set a target time frame between 2025 and 2030 to produce atleast 50% or 100% electric vehicles. This will push the demand for lithium-ion batteries in the long-term forecast, promoting the use of propylene carbonate. Other than Li-ion batteries, the global demand for paints & coatings will also be a key growth factor in the propylene carbonates market. Government regulations pertaining to the levels of VOC content in paints & coatings shall offer growth avenues for low-VOC solvents like propylene carbonate. Being VOC exempt, this can be a potential hot-spot for propylene carbonate in this sector. Propylene carbonate is also used in the synthesis of polyether polyols, which are further used in the manufacture of polyurethanes and polyurethane foams.
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Propylene Carbonate Market: Prominent players
Prominent players for the global Propylene Carbonate market are BASF SE, Eastman Chemical Company and Huntsman Corporation are major market contenders serving the global markets with manufacturing facilities in the U.S. and Europe. The Propylene Carbonate market consists of well-diversified global and regional players with the global vendors ruling the market.
The research report presents a comprehensive assessment of the Propylene Carbonate market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Propylene Carbonate market report provides analysis and information, according to market segments such as geographies, application and industry.
The Propylene Carbonate Market Report Covers Exhaustive Analysis On:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
The Propylene Carbonate Market Regional Analysis Includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
CIS & Russia
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East & Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Propylene Carbonate report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Propylene Carbonate report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Propylene Carbonate report also maps the qualitative impact of various market factors on market segments and geographies.
The Propylene Carbonate Market Report Highlights:
A Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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