A report on “Propylene Carbonate Market” has been appended into the market research report database of Reports and Insights, in recent times, that promises to offer a complete analysis to its readers on the growth forecasts and development prospects of the market, together with the potential business opportunities in the industry. The study, which emphasizes the most recent business dynamics, trends, growth drivers and opportunities that are impacting the market growth, also comprises the market size and the compounded average growth rate (CAGR) for the projected period 2022 and 2030. The report on Propylene Carbonate Market also incorporates an in-depth assessment on both the macro- and micro-environmental factors that are likely to impact the market growth over the forecast period. In addition to that, analytical tools such as Porter’s five forces analysis and PESTEL analysis are utilized to reckon and gather the factors that are playing the role of the driving force for the growth of the market.
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Propylene Carbonate Overview
Propylene carbonate can be understood as a polar aprotic solvent that majorly serves as a “green” sustainable substitute solvent for chemical alterations. It is a biodegradable, less toxic, colorless and non-corrosive liquid with an eminent boiling point, low vapor pressure, and EPA VOC exemption. In addition to that, with regard to its low vapor pressure and results of insignificant photochemical reactivity, propylene carbonate is considered an efficient alternative for more dangerous solvents such a methylene chloride, MEK, acetone, toluene, perchloroethylene and NMP. Owing to such beneficial properties, the propylene carbonate is witnessing higher demand across the global markets.
Other than that, propylene carbonate is also congruous with other solvents offering an effective constituent in co-solvent preparations. Attributing to which, It is comprehensively employed in the making of adhesives, paints, surface cleaners, coatings, strippers, degreasers, and inks formulas as well as in lithium-ion batteries, as electrolytic solvent, and also plays a role in the withdrawal of carbon dioxide from natural gas. Such a wide range of applications across various industries all around the world is majorly boosting the demand of propylene carbonate worldwide. Thus, the global propylene carbonate market is anticipated to grow significantly over the coming years.
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Propylene Carbonate Market Segmentation
The propylene carbonate market is segmented on the basis of form, application, and region.
By Form
- Pellet
- Aqueous
- Film
By Application
- Lithium Battery Electrolyte Component
- Solvent
- Cosmetic Solvent
- Adhesive Solvent
- VOC Exempt Solvent
- Others
- Cleaning & Degreasing
- Isocyanate Diluent
- Paint Stripper
- Plasticizer
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Propylene Carbonate Market Key Players
Some of the key participating players in 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
- Lixing Chemical
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