Propylene Carbonate Market Size, Share, Growth Analysis, By Form(Aqueous, Pellet, and Others), By Application(Paints & Coatings, Cleaning & Degreasing, Personal Care & Cosmetics, Textile Dyeing), By Region - Industry Forecast 2024-2031

The Asia Pacific region is estimated to account for a dominant share of the global propylene carbonate marketplace. The presence of a robust paints and coatings industry coupled with robust manufacturing activity in this region drives propylene carbonate demand. Growing electronics production and rising demand for lithium-ion batteries are also forecasted to favor propylene carbonate sales across the forecast period and beyond. South Korea, China, Taiwan, Japan, and India are slated to be the most investment-worthy markets in the Asia Pacific region for propylene carbonate manufacturers and distributors in the long run.

Europe is estimated to witness a notable hike in demand for propylene carbonate over the coming years owing to a rising focus on sustainability and the high adoption of lithium-ion batteries. Increasing awareness regarding emission reduction among consumers in Europe has resulted in quick adoption of electric vehicles, which in turn, favors demand for lithium-ion batteries. Growing use of renewable energy sources to generate electricity is also estimated to favor lithium-ion battery sales thereby driving propylene carbonate market growth as well. Germany and the United Kingdom are estimated to be the key markets in Europe.