Propylene Carbonate Market Outlook:
Propylene Carbonate Market size was valued at USD 459.36 Million in 2025 and is likely to cross USD 784.65 Million by 2035, expanding at more than 5.5% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of propylene carbonate is assessed at USD 482.1 Million.
The growth of the market can be attributed to the rising demand for lithium-ion batteries owing to the high demand from end-user industries. Propylene carbonate is used as a key component in the battery’s electrolyte solutions owing to its high dielectric constant. For instance, the lithium-ion battery pack cost reached around USD 150 in 2018 globally. Hence, it is one of the major factors expected to enlarge the market size over the forecast period.
Higher penetration of laptops, smartphones is further expected to propel the propylene carbonate market over the forecast period. As of 2021, around 275 million laptops were noticed to be shipped worldwide while around 150 million tablets were sold out in a similar year across the globe. Hence, all these factors are projected to flourish the growth of the market over the forecast period.
Key Propylene Carbonate Market Insights Summary:
Regional Highlights:
- North America’s propylene carbonate market will secure around 37% share by 2035, attributed to increasing natural gas storage and demand from various industries.
- Asia Pacific market will account for 22% share by 2035, driven by rising demand for plasticizers due to plastic waste regulations.
Segment Insights:
- The paint & coating segment in the propylene carbonate market is projected to secure a 40% share by 2035, driven by the high utilization of propylene carbonate as a film-forming auxiliary in paints.
Key Growth Trends:
- Growing Consumption and Production of Natural Gas
- Spiking Demand for Benzene across the Globe
Major Challenges:
- Requirement for Higher Initial Investment
- Restrictions on the Export and Import of Chemicals
Key Players: TCI Chemicals Pvt. Ltd., Haihang Group, Carl Roth GmbH & Company KG, BASF SE, Tedia Company, LLC, LyondellBasell Industries N.V., Empower Materials, Inc., SMS Corporation, Huntsman Corporation, Linyi Evergreen Chemical Co., Ltd.
Global Propylene Carbonate Market Forecast and Regional Outlook:
Market Size & Growth Projections:
- 2025 Market Size: USD 459.36 Million
- 2026 Market Size: USD 482.1 Million
- Projected Market Size: USD 784.65 Million by 2035
- Growth Forecasts: 5.5% CAGR (2026-2035)
Key Regional Dynamics:
- Largest Region: North America (37% Share by 2035)
- Fastest Growing Region: Asia Pacific
- Dominating Countries: China, United States, Germany, Japan, South Korea
- Emerging Countries: China, India, Japan, South Korea, Brazil
Last updated on : 9 September, 2025
Propylene Carbonate Market Growth Drivers and Challenges:
Growth Drivers
- Growing Consumption and Production of Natural Gas - Propylene carbonate is generally utilized as a solvent that removes CO2 and H2S in oil pyrolysis gas and natural gas treatment along with applications of synthetic ammonia conversion gas. Based on the statistics provided by the U.S. Energy Information Administration (EIA), it was stated that in 2019 the total production of natural gas was 142,687,000 million cubic feet while the consumption was estimated to be 141,353,000 million cubic feet.
- Spiking Demand for Benzene across the Globe - As of 2022, the demand for benzene is estimated to reach about 50 million metric tons worldwide. Propylene carbonate is used as a solvent for many organic compounds, including benzene.
- Higher Requirements of the Product in the Dyes and Pigments Production - In 2021, the volume of pigment and dye production was noticed to be around 360 thousand metric tons solely in India. Propylene carbonate is used in the production of dyes and pigments as it comprises of a wide range of syntheses and applications.
Challenges
- Requirement for Higher Initial Investment - The high costs included in the initial stage is expected to pose a challenge as it becomes difficult for the population with middle-income startups to incorporate pressure-sensitive adhesives in the use of varied processes. Therefore, this factor is estimated to hamper the growth of the market over the forecast period.
- Restrictions on the Export and Import of Chemicals
- Competition from Other Alternatives
Propylene Carbonate Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
5.5% |
|
Base Year Market Size (2025) |
USD 459.36 Million |
|
Forecast Year Market Size (2035) |
USD 784.65 Million |
|
Regional Scope |
|
Propylene Carbonate Market Segmentation:
Application Segment Analysis
The paint & coating segment is estimated to hold 40% share of the global propylene carbonate market during the projected time frame. The growth of the segment can be attributed to the higher utilization of propylene carbonate in the paint & coating industry in construction and manufacturing processes. It is heavily used in the production of paint since propylene carbonate is a high-boiling solvent along with a film-forming auxiliary. It is primarily used in polyvinylidene fluoride and polyvinyl fluoride systems. For instance, the total value of the paint & coating industry was estimated to be about USD 150 billion in 2020.
Form Type Segment Analysis
Propylene carbonate market from the aqueous segment is expected to garner a significant share. Higher utilization of aqueous forms of propylene carbonate across several industries such as cosmetics and personal care is anticipated to drive the segment growth over the forecast period. Aqueous solutions are also highly popular in which water is the solvent and it is known to be great electricity conductors. Some of the common types of aqueous solutions are acid & base solutions, cola, rain, salt, and salt water.
Our in-depth analysis of the global propylene carbonate market includes the following segments:
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Form Type |
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Application |
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Vishnu Nair
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Propylene Carbonate Market Regional Analysis:
North American Market Insights
The propylene carbonate market in North America is projected to be the largest with a share of about 37% by the end of 2035. The growth of the market can be attributed majorly to the growing natural gas storage. Additionally, the presence of major key players and growing various industries with an up-surged demand for propylene carbonate is also expected to hike the growth of the market in the region over the forecast period.
APAC Market Insights
The Asia Pacific propylene carbonate market is estimated to be the second largest, registering a share of about 22% by the end of 2035. The growth of the market can be attributed majorly to the increasing restriction on the use of single-use plastic for improving plastic waste management, which in turn increases the demand for plasticizers made up of propylene carbonate for the production of better plastic and increases its processing quality.
Propylene Carbonate Market Players:
- TCI Chemicals Pvt. Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Haihang Group
- Carl Roth GmbH & Company KG
- BASF SE
- Tedia Company, LLC
- LyondellBasell Industries N.V.
- Empower Materials, Inc.
- SMS Corporation
- Huntsman Corporation
- Linyi Evergreen Chemical Co., Ltd.
Recent Developments
- BASF SE to provide product carbon footprints (PCFs) to its plastic additives customers. PCFs are offered by the company for various antioxidants and light stabilizers which are also a premium service of the VALERAS portfolio. Through this online customer portal, consumers would be able to apply for product carbon footprints.
- Tedia Company, LLC to collaborate with Newbold Enterprises Fairfield. The collaboration is based upon the provision of capital and industry expertise to enhance the capacity and capabilities of Tedia, a manufacturer of OEM high-purity solvents.
- Report ID: 4340
- Published Date: Sep 09, 2025
- Report Format: PDF, PPT
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