Propylene carbonate (PC) is a colourless, liquid organic compound produced by carbon dioxide and propylene oxide reactions. According to BlueQuark Research & Consulting, the global Propylene carbonate Market is expected to grow significantly during the forecasted period. Factors such as the surge in the use of propylene carbonate in industrial processes are expected to drive the need for the Propylene carbonate market in the forecasted period. Further, an increase in demand from paints & coatings & personal care industries is expected to drive the need for the Propylene carbonate market in the forecasted period. Furthermore, the rise in infrastructure development projects in emerging economies is propelling the growth of the global propylene carbonate market. However, high cost, low mechanical properties, flammable characteristics, and implementation of stringent regulations for the usage & manufacture of flammable liquids are restraining the growth of the Propylene carbonate market.

The growth in the global propylene carbonate market is mainly propelled by the increasing use of lithium-ion batteries in different types of electric vehicles, such as electric buses, bikes, trucks, and passenger vehicles, due to the properties of lithium-ion batteries, such as lightweight and higher energy density compared to nickel-cadmium and nickel-metal hydride batteries. The expanding automotive industry, with increased production of electric vehicles to minimize carbon emissions, is driving the demand for lithium-ion batteries and, thus, propylene carbonate. Besides Li-ion batteries, the global demand for paints & coatings will also be a key growth driver in the propylene carbonates market. Government regulations about the levels of VOC content in paints & coatings shall offer growth avenues for low-VOC solvents like propylene carbonate. Being a VOC tree, this can be a potential hot spot for Propylene carbonate in this sector Propylene carbonate is also used in the synthesis of polyether polyols, which is further used in the manufacturing of polyurethanes and polyurethane foams. The growing demand for propylene carbonate in lithium-ion battery electrolytes is mainly due to the widespread use of lithium-ion batteries in electric vehicles. There is a significant dependence on oil as fuel in the transportation system. Almost 70% of the oil is being used in transport vehicles. This dependency has led to rising concerns among both environmentalists and economists. Growing awareness about environmental issues has led to the adoption of electric cars. The global producing capacity of lithium-ion cells for electric vehicles and energy storage is about 150 GWh annually. Lithium-ion batteries are utilized in mobile phones, laptops, tabs, and other electronic devices, and the demand for these devices is multiplying. Thus, the growing demand for Propylene carbonate in Li-ion battery electrolytes drives the market.

Asia- Pacific accounted for the highest share of the market in recent years. The region is home to some of the fastest-growing economies in the world, like India, China, and Japan, which have observed significant growth in various end-use industries, including electronics, automotive, and renewable energy. The surging demand for lithium-ion batteries and other energy storage solutions and the electronics and automotive industries' growth have led to a significant rise in the need for propylene carbonate in the region. In addition, the rising focus on environmental sustainability and the assumptions of new regulations aimed at decreasing greenhouse gas emissions have also contributed to the growth of the market in Asia-Pacific. Propylene carbonate is an organic compound gained from. It is a polar, aprotic solvent in paints & coatings and cosmetic and personal care products. Propylene carbonate also removes carbon dioxide from natural gas and volatile organic compound from paints & coatings. Propylene is widely used in lithium-ion batteries to enhance polarity by creating a solvation shell for lithium ions. In addition, it is used to manufacture cosmetic products such as lipsticks, mascara, eye shadow, and others. Storage of propylene carbonate is easy, as it is stable under normal storage conditions. Propylene carbonate has a low evaporation rate, toxicity, and VOC exemption. Thus, it is a solvent in many industries, such as cosmetics. It is not corrosive. Therefore, it can be utilized as a solvent for lipsticks, eye shadows, skin cleansing products, and mascara. Propylene carbonate is suitable for cosmetics use since it can dissolve substances. It is also a colourless, odourless liquid. Thus, the rise in demand for organic beauty products is predicted to create lucrative opportunities for producers of propylene carbonate. The increase in the application of PC in paints & coatings as an organic solvent, led by the increase in consumption of propylene carbonate in the building and construction sector, is also expected to augment the global propylene carbonate market soon. The development of construction activities in developing countries like China and India is fueling the need for paints and coatings in these countries. This is predicted to boost the consumption of paints and coatings, thereby augmenting the usage of propylene carbonate during the forecast period.

The market's key players are BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings BV, Empower Materials, and Anmol Chemicals Group.

In Sept 2022, BASF SE will provide product carbon footprints (PCFS) to its customers of plastic additives. The company offers PCFs for various antioxidants and light stabilizers, a premium service of the VALERAS portfolio. Through this online customer portal, consumers could apply for product carbon footprints.

In March 2022, 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.

The Global Propylene Carbonate Market report provides deep insight into the market's current and future state across various regions. The study comprehensively analyses the market by segmenting it based on By Form Type (Aqueous, Emulsion, Film, Pellet), Applications (Li- Batteries, Paint & Coating, Personal Care, Textile Dying, Others) and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report examines the market drivers and restraints and the impact of COVID-19 on market growth in detail. The research examines emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched sections on the competitive landscape with prominent companies and profiles, including their market shares and projects.