Propylene Carbonate Industry Size, Share, Demand & Growth by 2034
The global propylene carbonate industry is anticipated to expand at a steady 5.9% CAGR
over the forecast period between 2024 and 2034, finds Future Market Insights (FMI).
Propylene carbonate is largely utilized as a solvent for the production of paints and coatings,
cleaning solvent in the cleaning and degreasing industry, and as an electrolyte in Li-Ion
batteries.
In recent years, companies have focused on developing new materials with high purity levels
at competitive prices. Propylene carbonate is utilized as a long-lasting and ‘green’ alternative
for various chemical industrial solvents.
While due to its lower vapor pressure and negligible photochemical reactivity, it is an
effective substitute for toluene, acetone, NMP, and methyl chloride. Such aforementioned
properties of propylene carbonate are expected to increase consumption concerning
environmental regulations.
The worldwide propylene carbonate market is being driven by factors such as increased
usage of propylene carbonate in industrial processes as solvents, increased demand for paints
& coatings, and personal care.
Also, growing usage as a cleaning solvent in gas treating and petrochemical applications to
boost the market. Propylene carbonate is extensively used in lithium-ion batteries to improve
polarity by forming a solvation shell around lithium ions. It is also used in the production of
cosmetics like lipsticks, mascara, eye shadow, and other similar items.
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The propylene carbonate market is following an inclining at a CAGR of 5.9% through 2034.
The industry is set to reach a valuation of around USD 275.8 million in 2024, increasing to
USD 488.3 million by 2034.
“Over the forecasted period, sales of propylene carbonates are expected to be driven by the
increased utilization in Li-ion batteries and paints & coatings. Meanwhile, propylene
carbonate is environmentally friendly and has the potential to effectively replace other
hazardous chemical solvents,” says an FMI analyst.
Key Takeaways:

By product form, demand for aqueous propylene carbonate is expected to surge at a
6.4% CAGR over the forecast period.

The lithium-ion batteries & electronics segment is anticipated to grow at 7.5% CAGR
during the forecasted period.

The personal care & cosmetics segment of the propylene carbonate market is
anticipated to grow at a 6.7% CAGR through 2032.

The propylene carbonate market in the US is anticipated to reach a 5.6% CAGR by
the end of 2032.

China will emerge as the most lucrative propylene carbonate market, with sales
growing at a 7.2% CAGR over the forecast period
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and
pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and
renewable technology developments, and supply-demand-trade assessment. Our research
studies serve as referencing market guidelines for chemical manufacturers, research
institutions, channel partners, and government bodies for developing — ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a
member of the Greater New York Chamber of Commerce) offers profound insights into the
driving factors that are boosting demand in the market. FMI stands as the leading global
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expertise on diverse domains and industry trends across more than 110 countries.
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