Carbonate Market to Surge from $3.5 billion in 2020 to $7.1 billion by 2030, at 7.2% CAGR

Carbonates market driven by rising demand for dimethyl carbonate in the textile sector & surging use of organic carbonate in solvent & electrolyte applications WIN SIVERS DRIVE, OR, UNITED STATES, November 21, 2024 /EINPresswire.com/ -- According to research report published by Allied Market Research, the global carbonate market size was valued at $3.5 billion in 2020, and is expected to reach $7.1 billion by 2030, witnessing a CAGR of 7.2% from 2021 to 2030.

Escalation in demand for dimethyl carbonate in the textile industry and surge in use of organic carbonates in solvent & electrolyte applications drive the growth of the global carbonates market. However, side effects associated with use of organic carbonates hinder the market growth. On the other hand, growth of the pharmaceutical sector presents new opportunities in the coming years.

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The global carbonate market analysis is done on the basis of type, application, end use, and region. Depending on type, the market is divided into dimethyl, propylene, ethylene, glycerol, 1,2-epoxydodecane, 1,2-hexadecene, styrene, epichlorohydrin, and others. The applications covered in the study include solvents, catalysts, electrolytes, additives, cleaners, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on end use, the paints & coatings segment accounted for the largest share in 2020, contributing to nearly one-third of the global carbonate market, and is projected to maintain its lead position during the forecast period. This is due to polar characteristic and mineral wetting property of propylene carbonate that makes it suitable to be used in the coating industry for applications such as wire enamels, polyurethane production, and epoxies. However, the polymer segment is expected to portray the largest CAGR of 8.2% from 2021 to 2030, owing to rise in demand for packaging products.

Based on type, the glycerol segment held the highest market share in 2020, accounting for nearly one-third of the global carbonate market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to rise in concerns about sustainability and versatility of glycerol carbonates. Moreover, the dimethyl segment is projected to manifest the highest CAGR of 8.1% from 2021 to 2030, owing to its environmentally friendly characteristics.

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Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global carbonate market. Moreover, the same region is expected to witness the fastest CAGR of 8.0% during the forecast period, owing to rapid technological development and rise in demand for environment friendly coating products.

Leading Market Players

1. BASF SE

2. Huntsman International LLC

3. LyondellBasell Industries Holdings B.V.

4. Empower Materials

5. Anmol Chemicals Group

6. Kowa Company Ltd.

7. Shandong Lixing Chemical Co. Ltd.

8. ReactChem Co. Ltd.

9. SMC Global

10. TOAGOSEI Co. Ltd

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Key benefits for stakeholders

Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current carbonate market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.

By Type
Dimethyl
Propylene
Ethylene
Glycerol
1,2-Epoxydodecane
1,2-Hexadecene
Styrene
Epichlorohydrin
Others
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By Application
Solvents
Catalysts
Electrolytes
Additives
Cleaners
Others
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By End Use
Cosmetics & personal care
Paints & coatings
Pharmaceuticals
Textile
Energy & power
Polymer
Others

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David Correa
Allied Market Research
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