Report ID: SQMIG15E2491
Report ID:
SQMIG15E2491 |
Region:
Global |
Published Date: December, 2024
Pages:
184
|
Tables:
120 |
Figures:
77
In 2022, Asia Pacific emerged as the dominant region in the global ethylene carbonate market, capturing a revenue share of over 35.0%. This regional dominance can be attributed to several factors, including a strong industrial base, favorable government policies, and the availability of low labor costs. These factors attract major players in the ethylene carbonate market to invest in the region and establish their operations. Additionally, Asia Pacific leads in the production of lithium-ion battery electrolytes, as well as the manufacturing of electric vehicle (EV) lithium-ion batteries. The increasing demand for EVs and the growing focus on renewable energy sources in the region further drive the demand for ethylene carbonate.
North America is also a significant market for ethylene carbonate, primarily due to the presence of large corporations in the automotive and chemical sectors. The consistent rise in vehicle usage in North America over the past decade has contributed to the growing demand for ethylene carbonate in the region. Furthermore, the high demand for EV vehicles in the U.S. market during the first quarter of 2022 is expected to have a positive impact on the global ethylene carbonate market.
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Report ID: SQMIG15E2491