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Ethyl Methyl Carbonate Market Size

Report ID: GMI5418
Published Date: Jan 2023
Report Format: PDF

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Ethyl Methyl Carbonate Market Size

Ethyl Methyl Carbonate Market size valued at USD 1 billion in 2022 and is anticipated to record 17.5% CAGR from 2023 to 2032. Growing demand for lithium batteries will accelerate the business growth.

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The proliferating adoption of lithium-ion batteries following the economic downturn and the rising demand for EVs worldwide, which has stimulated the usage of lithium batteries on a large scale is expected to contribute the industry growth. Additionally, ethyl methyl carbonate is exempted from regulations imposed on volatile organic compounds in the U.S., which is promoting North America market revenue. Ethyl methyl carbonate market participants are making strategic investments in R&D and battery cell manufacturers are increasing their production capacity to improve their market standing and achieve economies of scale.

Ethyl Methyl Carbonate Market Report Attributes
Report Attribute	Details
Base Year:	2022
Ethyl Methyl Carbonate Market Size in 2022:	USD 1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	17.5%
2032 Value Projection:	USD 6 Billion
Historical Data for:	2018 to 2022
No. of Pages:	185
Tables, Charts & Figures:	211
Segments covered:	Application and Region
Growth Drivers:	North America: The growth of the lithium battery posts the economic slowdown boosts the market growth in the region Europe: The rising demand for electric vehicles and ethyl methyl carbonate applications in the pharmaceutical intermediates sector fuels the growth Asia Pacific: Incrementing usage of ethyl methyl carbonate as a chemical solvent in various end use industries of agrochemicals, and paints & coatings favor the market growth Latin America: Rising electronics sales and increasing consumer spending propensity will propel the market growth
Pitfalls & Challenges:	Complexities in production process

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Production complexities to limit market progression

The production of an azeotropic system through transesterification between ethanol and high-purity dimethyl carbonate (DMC) makes energy consumption and separation more challenging, which is hindering market expansion. However, several companies are taking initiative to develop new manufacturing processes, which is likely to positively influence business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of ethyl methyl carbonate exceeded USD 1 billion in 2022 and is forecast to grow at over 17.5% CAGR from 2023 to 2032 driven by the rising demand for lithium batteries.

The chemical solvent segment is projected to observe nearly 17% growth rate through 2032, attributed to the high demand for paints & coatings from the construction, automotive, shipbuilding, and aerospace industries.

Europe market is set to reach USD 2 billion by 2032 owing to the growing inclination towards electric vehicles and the presence of major automotive manufacturers across the region.

Tangshan Solvents Trading Co., Ltd., TCI America, Inc., Mitsui Fine Chemicals, Mitsui Fine Chemicals, Shandong Lixing Chemicals Co., Ltd., Merck, Liaoning Huifu Chemical Co., Ltd., Vizag Chemical, and Wego Chemical Group, among others, are some key enterprises operating in the global market.