Product Code: GVR-4-68040-394-0
Propylene Carbonate Market Size & Trends:
The global propylene carbonate market size was estimated at USD 393.1 million in 2023 and is forecasted to grow at a CAGR of 5.6% from 2024 to 2030. This growth is attributed to the growing demand for lithium-ion batteries products. Propylene carbonate is used as an electrolyte solvent in lithium-ion batteries due to its high boiling point, stability, and low toxicity. Furthermore, the expanding electric vehicle (EV) market and increasing demand for portable electronic devices are expected to drive the product growth in battery applications.
The market is witnessing increased adoption of this product in industries like paints, coatings, and pharmaceuticals where environmental concerns are critical. Propylene carbonate is considered less hazardous compared to other solvents, making it attractive in industries facing stringent environmental regulations. In addition to this, the product is used as a solvent and carrier in cosmetics and personal care products due to its ability to enhance product stability and solubility. Therefore, rising disposable incomes and increasing consumer demand for premium personal care products are expected to fuel product growth over the coming years.
Furthermore, the development of eco-friendly production methods and sustainable sourcing of raw materials for propylene carbonate production is increasing its adoption by environmentally conscious consumers and industries seeking sustainable alternatives. Fluctuations in the prices of raw materials used in propylene carbonate production can impact production costs and profit margins, thereby creating challenges in maintaining stable pricing and profitability of manufacturers.
In addition to this, this product faces competition from alternative solvents and materials that may offer comparable or superior performance characteristics. Moreover, price competitiveness and technological advancements in substitutes could limit propylene carbonate market expansion in certain applications. Growing investments in renewable energy infrastructure create new opportunities for this product in energy storage applications. Propylene carbonate is used in renewable energy technologies such as wind and solar power systems for energy storage and efficiency enhancements. Furthermore, the development of more efficient and cost-effective production methods for the product can help in enhancing production capabilities leading to lower costs, improving product quality, and encouraging market growth.
Global Propylene Carbonate Market Report Segmentation
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global propylene carbonate market based on the application, end use, and region:
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Solvent
- Electrolyte
- Catalyst
- Additives
- Cleaners
- Other Applications
- End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Paints & Coatings
- Pharmaceuticals
- Cosmetics & Personal Care
- Textile
- Energy & Power
- Mining
- Other End Uses
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Middle East & Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Propylene Carbonate Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Propylene Carbonate Market - Value Chain Analysis
- 3.3. Propylene Carbonate Market - Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunity Analysis
- 3.3.4. Market Challenge Analysis
- 3.4. Regulatory Framework
- 3.5. Propylene Carbonate Market - Business Environment Analysis
- 3.5.1. PESTLE Analysis
- 3.5.2. Porter's Five Forces Analysis
- 3.6. Market Disruption Analysis
Chapter 4. Propylene Carbonate Market: Application Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Application Movement Analysis & Market Share, 2023 & 2030
- 4.3. Propylene Carbonate Market By Application, 2018 - 2030 (USD Million)
- 4.4. Solvent
- 4.4.1. Propylene Carbonate Market Estimates & Forecasts, by Solvent, 2018 & 2030 (USD Million)
- 4.5. Electrolyte
- 4.5.1. Propylene Carbonate Market Estimates & Forecasts, by Electrolyte, 2018 & 2030 (USD Million)
- 4.6. Catalyst
- 4.6.1. Propylene Carbonate Market Estimates & Forecasts, by Catalyst, 2018 & 2030 (USD Million)
- 4.7. Additives
- 4.7.1. Propylene Carbonate Market Estimates & Forecasts, by Additives, 2018 & 2030 (USD Million)
- 4.8. Cleaners
- 4.8.1. Propylene Carbonate Market Estimates & Forecasts, by Cleaners, 2018 & 2030 (USD Million)
- 4.9. Other Applications
- 4.9.1. Propylene Carbonate Market Estimates & Forecasts, by Other Applications, 2018 & 2030 (USD Million)
Chapter 5. Propylene Carbonate Market: End Use Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. End Use Movement Analysis & Market Share, 2023 & 2030
- 5.3. Propylene Carbonate Market By End Use, 2018 - 2030 (USD Million)
- 5.4. Paints & Coatings
- 5.4.1. Propylene Carbonate Market Estimates & Forecasts, by Paints & Coatings, 2018 & 2030 (USD Million)
- 5.5. Pharmaceuticals
- 5.5.1. Propylene Carbonate Market Estimates & Forecasts, by Pharmaceuticals, 2018 & 2030 (USD Million)
- 5.6. Cosmetics & Personal Care
- 5.6.1. Propylene Carbonate Market Estimates & Forecasts, by Cosmetics & Personal Care, 2018 & 2030 (USD Million)
- 5.7. Textile
- 5.7.1. Propylene Carbonate Market Estimates & Forecasts, by Textile, 2018 & 2030 (USD Million)
- 5.8. Energy & Power
- 5.8.1. Propylene Carbonate Market Estimates & Forecasts, by Energy & Power, 2018 & 2030 (USD Million)
- 5.9. Mining
- 5.9.1. Propylene Carbonate Market Estimates & Forecasts, by Mining, 2018 & 2030 (USD Million)
- 5.10. Other End Uses
- 5.10.1. Propylene Carbonate Market Estimates & Forecasts, by Other End Uses, 2018 & 2030 (USD Million)
Chapter 6. Propylene Carbonate Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2023 & 2030
- 6.3. Market Estimates & Forecasts by Region, 2018 - 2030 (USD Million)
- 6.4. North America
- 6.4.1. North America Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.2. North America Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.4.3. North America Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.4. U.S.
- 6.4.4.1. U.S. Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.4.2. U.S. Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.4.4.3. U.S. Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.5. Canada
- 6.4.5.1. Canada Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.5.2. Canada Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.4.5.3. Canada Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.6. Mexico
- 6.4.6.1. Mexico Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.6.2. Mexico Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.4.6.3. Mexico Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5. Europe
- 6.5.1. Europe Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.2. Europe Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.3. Europe Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.4. Germany
- 6.5.4.1. Germany Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.4.2. Germany Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.4.3. Germany Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.5. UK
- 6.5.5.1. UK Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.5.2. UK Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.5.3. UK Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.6. France
- 6.5.6.1. France Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.6.2. France Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.6.3. France Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.7. Spain
- 6.5.7.1. Spain Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.7.2. Spain Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.7.3. Spain Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.8. Italy
- 6.5.8.1. Italy Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.8.2. Italy Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.5.8.3. Italy Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6. Asia Pacific
- 6.6.1. Asia Pacific Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.2. Asia Pacific Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.6.3. Asia Pacific Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.4. China
- 6.6.4.1. China Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.4.2. China Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.6.4.3. China Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.5. India
- 6.6.5.1. India Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.5.2. India Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.6.5.3. India Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.6. Japan
- 6.6.6.1. Japan Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.6.2. Japan Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.6.6.3. Japan Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.7. South Korea
- 6.6.7.1. South Korea Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.7.2. South Korea Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.6.7.3. South Korea Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7. Central & South America
- 6.7.1. Central & South America Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.2. Central & South America Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.7.3. Central & South America Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7.4. Brazil
- 6.7.4.1. Brazil Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.4.2. Brazil Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.7.4.3. Brazil Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7.5. Argentina
- 6.7.5.1. Argentina Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.5.2. Argentina Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.7.5.3. Argentina Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.8. Middle East & Africa
- 6.8.1. Middle East & Africa Propylene Carbonate Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.8.2. Middle East & Africa Propylene Carbonate Market Estimates & Forecasts, by Application, 2018 & 2030 (USD Million)
- 6.8.3. Middle East & Africa Propylene Carbonate Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
Chapter 7. Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
- 7.6. List of Raw Material Suppliers
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Heat Map Analysis
- 8.5. Company Listings
- 8.5.1. LyondellBasell Industries
- 8.5.1.1. Company Overview
- 8.5.1.2. Financial Performance
- 8.5.1.3. Product Benchmarking
- 8.5.1.4. Strategic Initiatives
- 8.5.2. Shandong Depu Chemical
- 8.5.2.1. Company Overview
- 8.5.2.2. Financial Performance
- 8.5.2.3. Product Benchmarking
- 8.5.2.4. Strategic Initiatives
- 8.5.3. BASF SE
- 8.5.3.1. Company Overview
- 8.5.3.2. Financial Performance
- 8.5.3.3. Product Benchmarking
- 8.5.3.4. Strategic Initiatives
- 8.5.4. Empower Materials
- 8.5.4.1. Company Overview
- 8.5.4.2. Financial Performance
- 8.5.4.3. Product Benchmarking
- 8.5.4.4. Strategic Initiatives
- 8.5.5. Huntsman International LLC.
- 8.5.5.1. Company Overview
- 8.5.5.2. Financial Performance
- 8.5.5.3. Product Benchmarking
- 8.5.5.4. Strategic Initiatives
- 8.5.6. Dhalop Chemicals
- 8.5.6.1. Company Overview
- 8.5.6.2. Financial Performance
- 8.5.6.3. Product Benchmarking
- 8.5.6.4. Strategic Initiatives
- 8.5.7. Tokyo Chemical Industry Co., Ltd. (TCI)
- 8.5.7.1. Company Overview
- 8.5.7.2. Financial Performance
- 8.5.7.3. Product Benchmarking
- 8.5.7.4. Strategic Initiatives
- 8.5.8. Linyi Evergreen Chemical Co., Ltd.
- 8.5.8.1. Company Overview
- 8.5.8.2. Financial Performance
- 8.5.8.3. Product Benchmarking
- 8.5.8.4. Strategic Initiatives
- 8.5.9. Central Drug House
- 8.5.9.1. Company Overview
- 8.5.9.2. Financial Performance
- 8.5.9.3. Product Benchmarking
- 8.5.9.4. Strategic Initiatives
- 8.5.10. Carl Roth
- 8.5.10.1. Company Overview
- 8.5.10.2. Financial Performance
- 8.5.10.3. Product Benchmarking
- 8.5.10.4. Strategic Initiatives