PUBLISHER: Value Market Research | PRODUCT CODE: 1547791
PUBLISHER: Value Market Research | PRODUCT CODE: 1547791
The global demand for Propylene Carbonate Market is presumed to reach the market size of nearly USD 822.74 Million by 2032 from USD 430.93 Million in 2023 with a CAGR of 7.45% under the study period 2024-2034.
Propylene carbonate is an electrochemical solvent that is polar and aprotic. It is considered eco-friendly and is best suited for applications that require a solvent with high purity. This solvent is less toxic, VOC exempt, has a low evaporation rate, high dielectric constant, non-corrosive, and high chemical stability. It is used in cosmetics and electronics, where recycling is a common phenomenon. Other applications include painting, coating, a cleaning agent in industrial and consumer cleaner, plasticizer, pesticide formulations, lithium battery, natural gas purification, an auxiliary in the pigment and dyes, and synthetic fiber spinning solvent, photosensitive chemicals, and transportation equipment. It plays a crucial role in the medical field by developing nano-based drug delivery systems.
The surge in demand for lithium-ion batteries in modern-day electrical systems and this chemical labeled as green energy will be the main factors leading to this market's growth. Increased use of this chemical in industrial processes, paints, coatings, and pharmaceuticals will propel market growth. Metamorphic cultural transformation and the growing demand for organic personal care products will create lucrative market growth opportunities. The high demand for electric vehicles, along with the ever-expanding electronics industry, will be a market booster. The barriers hurting this market's growth are higher costs of raw materials, flammable characteristics, and stringent government regulations.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Propylene Carbonate. The growth and trends of Propylene Carbonate industry provide a holistic approach to this study.
This section of the Propylene Carbonate market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Propylene Carbonate market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Propylene Carbonate market include Huntsman International LLC., BASF SE, Empower Materials, LyondellBasell Industries Holdings B.V., Anmol Chemicals Group, Kowa India Pvt. Ltd., Shenghua Group Holdings Co. Ltd., ReactChem Co. Ltd., Taixing Fengming Chemical, Lixing Chemical. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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