The lubricants segment is projected to lead ethylene carbonate market till 2022
The ethylene carbonate market has been segmented on the basis of application, end-use industry, and region. The lithium battery electrolytes segment is projected to witness a high growth due to the need for high power and energy density, which has increased the demand for reliable and safe batteries for industries, such as automotive and consumer electronics. Some major driving factors for the growth of this market include an increase in demand for Electric Vehicles (EV), stringent government mandates on fuel economy, rise in demand for smart devices and other consumer electronics, and developments to enhance Li-ion batteries.
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