Propylene Carbonate Industry Size, Share, Demand & Growth by 2034
The global propylene carbonate industry is anticipated to expand at a steady 5.9% CAGR over the forecast period between 2024 and 2034, finds Future Market Insights (FMI). Propylene carbonate is largely utilized as a solvent for the production of paints and coatings, cleaning solvent in the cleaning and degreasing industry, and as an electrolyte in Li-Ion batteries. In recent years, companies have focused on developing new materials with high purity levels at competitive prices. Propylene carbonate is utilized as a long-lasting and ‘green’ alternative for various chemical industrial solvents. While due to its lower vapor pressure and negligible photochemical reactivity, it is an effective substitute for toluene, acetone, NMP, and methyl chloride. Such aforementioned properties of propylene carbonate are expected to increase consumption concerning environmental regulations. The worldwide propylene carbonate market is being driven by factors such as increased usage...