Report Code: A05330 | Nov 2023 | Pages: NA | ||
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Request Now !Propylene carbonate (PC) is a colorless, liquid organic compound produced by the reaction of carbon dioxide and propylene oxide. It is a polar solvent with a molecular weight of 102.089 g/mol and molecular formula C4H6O3. Its IUPAC name is 4-methyl-1,3-dioxolan-2-one and boiling point ranges between 235°C and 245 0°C. It possesses properties such as non-corrosiveness, low decomposition temperature, and superior adhesion. Moreover, it has high flash points and serves as a superior oxygen barrier. For asymmetric hydrogenation of nonfunctionalized olefins, propylene carbonate is used as a solvent. By using transesterification process, propylene carbonate can be converted into carbonate esters.
Propylene is widely used in lithium-ion batteries to offer enhanced polarity by creating a solvation shell for lithium ions. In addition, it is used for manufacturing of cosmetic products such as lipsticks, mascara, eye shadow, and others. Storage of propylene carbonate is easy, as it is stable under normal storage conditions. As propylene carbonate is listed in the Environment Protection Agency Safer Chemicals Ingredients List, it can be used in various end-use industries such as personal care, pharmaceuticals, paints & coatings, and others.
Factors such as surge in use of propylene carbonate in industrial processes, increase in demand from paints & coatings & personal care industries, and rise in infrastructure development projects in emerging economies are driving the growth of the global propylene carbonate market. However, high cost, low mechanical property, flammable characteristics, and implementation of stringent regulations for usage & manufacture of flammable liquids are restraining the growth of the market. Conversely, surge in demand for lithium batteries and increase in demand for green energy are expected to offer remunerative opportunity or market expansion in the near future.
Global propylene carbonate market is segmented into application, end-use industry, and region. By application, the market is classified into solvent, catalyst, electrolyte, additives, cleaner, and others. According to end-use industry, it categorized into cosmetic & personal care, paints & coatings, pharmaceuticals, textile, energy & power, mining, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Â
The key players operating in the global propylene carbonate market are BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings B.V., Empower Materials, Anmol Chemicals Group, Kowa India Pvt. Ltd., ReactChem Co. Ltd., Shenghua Group Holdings Co. Ltd., Taixing Fengming Chemical, and Lixing Chemical. These players have adopted various strategies such as acquisitions, partnerships, collaboration, joint ventures, agreements, expansions, and new product launches to create a strong consumer base in the market.
Propylene Carbonate Market Report Highlights
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Key Market Players | BASF SE, Taixing Fengming Chemical, Huntsman International LLC., Kowa India Pvt.Ltd., Anmol Chemicals Group, Empower Materials, LyondellBasell Industries Holdings B.V., Lixing Chemical, ReactChem Co. Ltd., Shenghua Group Holdings Co. Ltd. |
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