Market Industry Reports (MIR) has published a new report titled “Ethylene Carbonate Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.” According to the report, the global ethylene carbonate market is anticipated to grow at a CAGR of 4.5% from 2020 to 2030.
The significant market growth can be attributed to the high demand for ethylene carbonate across various industries. The growing demand for lithium batteries stands to be one of the major market drivers. Owing to favorable government regulations, there is a rising demand for electric vehicles globally, which is further expected to boost the demand for ethylene carbonate, a key ingredient in lithium ion battery production. Furthermore, its utilization in the plastic manufacturing process where it is used as a solvent for polymers, such as polyacrylonitrile and other resins, is further expected to propel market growth. Additionally, the increasing applications of ethylene carbonate as a pharmaceutical intermediate and its utilization in the textile industry as solvent, reactant, and plasticizer will also supplement market growth.
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