Ethyl Cyanoacetate Market worth $ 184 million by 2029 Globally, at a CAGR of 4.9% says MarketsandMarkets™

Chicago, June 24, 2024 (GLOBE NEWSWIRE) -- The Global Ethylene Carbonate Market size is projected to grow from USD 145 million in 2024 to USD 184 million by 2029, registering a CAGR of 4.9% during the forecast period, as per the recent study by MarketsandMarkets™. The Ethyl cyanoacetate market is poised for substantial growth, propelled due to its versatile applications across various industries, including pharmaceuticals, agrochemicals, and specialty chemicals. It serves as a crucial intermediate in organic synthesis and fundamental building block for a wide range of compounds.

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Browse in-depth TOC on “Ethyl Cyanoacetate Market”.

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List of Key Players in Ethyl Cyanoacetate Market:

• Merck KGaA KGaA (Germany)
•  Shandong Xinhua Pharmaceutical Co. Ltd. (China)
•  Tiande Chemical Holdings Limited (China)
•  Tokyo Chemical Industry Co. Ltd. (TCI) (Japan)
•  HeBei ChengXin (China)
•  TATEYAMA KASEI Co.Ltd (Japan)
•  Triveni Chemicals (India)
•  EMCO Dyestuff (India)
•  Loba Chemie Pvt. Ltd. (India)
•  and Sisco Research Laboratories Pvt. Ltd. (India)

Drivers, Restraints, and Opportunities in Ethyl Cyanoacetate Market:

• Driver: Growing demand from pharmaceutical and agrochemical sectors
• Restraint: Stringent regulatory compliances
• Opportunity: Research and development for new applications and formulations
• Challenge: Disruptions in supply chain

Key Findings of the Study:

• Based on grade, industrial grade is projected to account for the second largest share of the Ethyl Cyanoacetate market.
• Based on application, pharmaceutical is projected to account for the second largest share of the Ethyl Cyanoacetate market.
• Based on function, cross-linking agents are projected to account for the second largest share of the Ethyl Cyanoacetate market.
• North America is expected to be the fastest growing market during the forecast period.

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Based on form, the ethylene carbonate market is segmented into solid and liquid. The liquid segment is projected to grow at the highest growth rate owing to increasing demand for ethylene carbonate as a lithium battery electrolyte due to the increase in demand for electric vehicles.

Based on end-use industry, the ethylene carbonate market is segmented into automotive, oil & gas, industrial, medical, personal & hygiene, and others. The automotive segment is projected to grow at the highest growth rate owing to the rising demand for a sustainable energy source for electric vehicles along with lightweight plastic materials with improved durability.

By application, the ethylene carbonate market is segmented into lubricants, lithium battery electrolytes, plasticizers, surface coating, and others. The lithium battery electrolyte segment is expected to grow at a significant rate during the forecast period, due to the increasing use of ethylene carbonate in battery electrolytes for lithium-ion batteries and the dynamic shift of the automotive industry toward the use of sustainable and clean fuels.

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APAC is the largest and fastest-growing market for ethylene carbonate. The growth in the region can be attributed to the increasing consumption of ethylene carbonate. The growing demand for lithium battery electrolytes, plasticizers, and surface coating-based products from China, South Korea, Taiwan, and Japan is a key driver of the market in the region. The rapidly growing demand for ethylene carbonate in applications, competitive manufacturing costs, and high economic growth rates are the favorable forces driving the market of ethylene carbonate in this region.

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