Market Research Future (MRFR)
postulates that the global alkylene carbonates market is predicted to
demonstrate a healthy CAGR during the forecast period (2016-2023) as they
possess properties such as low toxicity and low volatile organic content.
Alkylene carbonates are referred to as cyclic esters of carbonic acid and are
used in several formulations comprising microemulsifiable concentrates,
emulsifiable concentrates, microemulsions, suspoemulsions, and concentrated emulsions.
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Market Potential and Pitfalls:
Alkylene carbonates possess
properties such as low toxicity, low volatile organic content (VOC), high
boiling point, biodegradable in nature, and low- odor, which makes them an
excellent solvent choice. Such benefits of alkylene carbonates are estimated to
propel the market growth throughout the estimated period. Alkylene carbonates
find applications in several end-use industries like cosmetics & personal
care, agriculture, textiles, and paints & coatings. Owing to the increasing
demand for agricultural products, accelerating consumerism, and growth in the
construction sector, the end-use industries are predicted to flourish.
Moreover, the emerging nations promise high growth of the market owing to the
increasing demand from end-use industry as a result of increasing disposable
income. Such factors are fueling the market growth throughout the assessment
period. Additionally, alkylene carbonates are extensively used in lithium
batteries, which is further expanding the market growth across the globe. As
alkylene carbonate is a compound with low emission and low toxicity, they are
environmental-friendly. The rising concern regarding the environment is highly
supporting the use of ecological solvents, thereby fostering the market growth
globally.
On the contrary, the global alkylene
carbonates market is presumed to experience a slowdown owing to the scarcity of
raw materials coupled with the regulations imposed by the regional government.
Segmental Analysis:
The global alkylene carbonates
market has been segmented on the basis of type and end-user industry.
By mode of type, the global alkylene
carbonates market has been segmented into propylene carbonate, ethylene
carbonate, and glycerine carbonate. Among these, the ethylene carbonate is
considered to occupy a significant market share and is extensively used in
lithium batteries.
By mode of end-user industry, the
global alkylene carbonates market has been segmented into agriculture, paints
& coatings, cosmetics & personal care, textiles & fabrics, and
others. Among these, the personal care and cosmetics segment occupies a
significant market share globally.
Competitive Dashboard
·
BASF
SE
·
Tongling
Jintai Chemical Industrial Co. Ltd
·
Alfa
Aesar
·
Sigma-Aldrich
Co. LLC.
·
Huntsman
International LLC
·
Mitsubishi
Chemical Corporation
·
Qingdao
Shinda Chemical Co. Ltd.
March 09, 2018: Huntsman Performance
Products has recently announced the availability of its brand-new specialty
carbonate, JEFFSOL(R) Glycerine Carbonate. Its is a bio-based specialty
chemical which is useful as a solvent and a reactive intermediate and can be
reacted or polymerized with isocyanates or acrylates and can be used in
adhesives, coatings, and lubricants.
Regional Insights
Geographically, the alkylene
carbonates market span across regions namely, Europe, North America, Latin
America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the Asia
Pacific region is considered to experience the fastest growth rate throughout
the appraisal period. The region is estimated to retain its dominance owing to
the accelerating demand for cosmetics and personal care products among the
population. Moreover, with the growing manufacturing bases for textile &
fabrics, paints & coatings, and personal care, the market in this region is
anticipated to propel. The market is anticipated to flourish especially in
economies like China and India owing to the increasing industrialization and
high disposable income among the population in this region.
Regions such as North America and
Europe are considered to experience a significant growth rate owing to the
strict mandates imposed by several nations of these regions in order to prevent
the emissions of volatile organic compounds in the atmosphere. Moreover, the
rising number of initiatives taken by the environmental agencies, especially in
economies like Germany, France, and the U.S., regarding the usage of
environmental-friendly solvents is propelling the market growth in these
regions.
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