Get a free sample of Propylene Carbonate Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Propylene Carbonate Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Propylene Carbonate Market Size
The global propylene carbonate market was valued at USD 415.4 million in 2024 and is estimated to grow at a CAGR of over 5.7% from 2025 to 2034. Propylene carbonate is a biodegradable organic solvent with excellent solvency power and low volatility, widely used in industrial applications. Its chemical stability and eco-friendly profile make it valuable in various sectors.
The rising demand for propylene carbonate as a solvent in lithium-ion batteries for electric vehicles (EVs) is a major driver of market growth. EV adoption is increasing globally due to the shift towards greener transportation. Propylene carbonate, used in battery electrolytes, ensures effective ion conductivity and thermal stability, enhancing battery performance and lifespan. This aligns with the market's push for reliable and efficient energy storage solutions. In the cosmetics industry, the move towards sustainable and eco-friendly formulations has increased the use of propylene carbonate. As a solvent and viscosity regulator, it helps develop non-toxic, high-performance cosmetic products. The growing consumer preference for environmentally conscious personal care items is driving demand.
Similarly, the oil and gas sector benefits from propylene carbonate's use in removing CO? and sulphur compounds from natural gas. Its effectiveness in gas treatment aligns with growing environmental regulations requiring cleaner fuel processing. These applications highlight the solvent's adaptability across industries, driving the market forward.
Who are some of the prominent players in the propylene carbonate industry?
Key players in the industry include 3N composites, BASF SE, CDH Fine Chemical, Dhalop Chemicals, Empower Materials, Huntsman Corporation, LyondellBasell, Merck, Shandong Depu Chemical, SMC-Global, and Tokyo Chemical Industry.
What is the size of the U.S. propylene carbonate market?
The U.S. market achieved a revenue of USD 89.1 million in 2023, largely due to its extensive use in solvents, lithium-ion batteries, and coatings.
Why is the "more than 99%" purity segment leading the market?
The "more than 99%" purity segment generated USD 201.1 million in revenue in 2024, driven by its high demand in lithium-ion battery electrolytes, high-performance coatings, and advanced pharmaceutical formulations.
How big is the propylene carbonate market?
The global propylene carbonate industry was valued at USD 415.4 million in 2024 and is estimated to grow at a CAGR of over 5.7% from 2025 to 2034, driven by its biodegradable nature and excellent solvency power.