Propylene Carbonate Market Volume Worth 1600.22 Kilo Tons by 2035

According to Towards Chemical and Materials, the global propylene carbonate market volume was valued at 750.11 kilo tons in 2025 and is expected to be worth around 1600.22 kilo tons by 2035, exhibiting at a compound annual growth rate (CAGR) of 7.87% over the forecast period from 2026 to 2035.

Ottawa, Jan. 28, 2026 (GLOBE NEWSWIRE) -- The global propylene carbonate market size was estimated at USD 448.69 million in 2025 and is expected to increase from USD 474.36 million in 2026 to USD 782.56 million by 2035, growing at a CAGR of 5.72%. In terms of volume, the market is projected to grow from 750.11 kilo tons in 2025 to 1600.22 kilo tons by 2035. exhibiting at a compound annual growth rate (CAGR) of 7.87% over the forecast period 2026 to 2035. The Asia Pacific dominated propylene carbonate market with the largest volume share of 46% in 2025. A study published by Towards Chemical and Materials a sister firm of Precedence Research.

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Propylene Carbonate: Versatile Industrial Solvent

The clear and odourless liquid, which is primarily made from propylene oxide and carbon dioxide, is called propylene carbonate. Also, propylene carbonate has been used as solvents in coatings, paints, and cleaners, enhancing the industry readiness and future industry capabilities.

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 Propylene Carbonate Market Report Highlights

The Asia Pacific dominated the global propylene carbonate market with the largest volume share of 46% in 2025.
The propylene carbonate market in North America is expected to grow at a substantial CAGR of 9.81% from 2026 to 2035.
The Europe sustainable propylene carbonate market segment accounted for the major volume share of 20.11% in 2025.
By grade, the industrial grade segment dominated the market and accounted for the largest volume share of 45% in 2025.
By grade, the battery grade segment is expected to grow at the fastest CAGR of 10.86% from 2026 to 2035 in terms of volume.
By synthesis technology, the propylene oxide carbonation segment led the market with the largest revenue volume share of 92% in 2025.
By application, the lithium-ion battery electrolyte segment dominated the market and accounted for the largest volume share of 54% in 2025.
By end-use industry, the automotive & transportation segment led the market with the largest revenue volume share of 51% in 2025.

Propylene Carbonate Market Report Scope

Report Attribute	Details
Market Size Value in 2026	USD 474.36 Million / 809.15 Kilo Tons
Revenue Forecast in 2035	USD 782.56 Million / 1600.22 Kilo Tons
Growth Rate	CAGR 5.72%
Forecast Period	2026 - 2035
Base Year	2025
Units Considered	Value (Billion / Million), Volume (KiloTons)
Dominant Region	Asia Pacific
Segments covered	Application, end use, region
Segment Covered	By Grade, By Synthesis Technology, By Application, By End-Use Industry, By Region
Key companies profiled	BASF SE, Huntsman Corporation, LyondellBasell Industries N.V., Shida Shenghua Chemical Group Co., Ltd. Lotte Chemical Corporation Shandong Wells Chemicals Co., Ltd. Haike Chemical Group Liaoning Ganglong Chemical Co., Ltd. Shandong Depu Chemical Co., Ltd. Shandong Shuntong Chemical Co., Ltd. Mitsubishi Chemical Group Corporation Zibo Haihua Chemical Co., Ltd. Tokyo Chemical Industry Co., Ltd. (TCI) Empower Materials Panax Etec Co., Ltd. Ube Corporation Wanhua Chemical Group Co., Ltd. Kowa Company, Ltd. Mega Specialty Chemicals

Private Industry Investments for Propylene Carbonate:

BASF SE: In 2023, BASF launched commercial production of bio-based propylene carbonate to meet the growing consumer demand for sustainable and biodegradable solvents, particularly in the cosmetics and paints and coatings markets.
LG Chem: LG Chem expanded its collaboration with Hyundai Motor Group in 2023 and increased its production capacity for battery-grade propylene carbonate to meet the rising demand for electric vehicle (EV) batteries.
Huntsman Corporation: Huntsman Corporation announced in 2024 it would be expanding its production facilities in Asia-Pacific (China and India) to cater to the growing regional demand for eco-friendly coatings and solvents.
SK Innovation: SK Innovation secured funding in 2023 to expand its battery manufacturing capabilities in South Korea, increasing the production of lithium-ion batteries that rely on propylene carbonate as a key electrolyte component.
Manali Petrochemicals Limited (MPL): MPL has expanded its propylene glycol plant capacity in India (announced in 2025) to reduce the nation's reliance on imported raw materials for various applications, including propylene carbonate production.

What Are the Major Trends in the Propylene Carbonate Market?

Carbon Capture Technologies: The emergence of carbon capture technologies has positively impacted the revenue potential in recent years. Also, the manufacturers are actively seen in using this carbon dioxide to make propylene carbonate.
Next Generation Batteries: The increasing demand for lithium-ion batteries and next-generation batteries is supporting capital growth and economic activity in the sector. The polypropylene carbonate is known as the critical component in this battery-making process.
Speciality Formulations: Increasing demand for the speciality formulation from the major industries where the companies are seen in using propylene carbonate in adhesives, lubricants, and cleaning solutions instead of generic solvent which is observed to improve film formation and clarity.

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Propylene Carbonate Market Dynamics

Driver

High Performance Electrolyte Fuel Battery Growth

The increasing shift towards advanced battery applications is heavily providing the better financial performance and sector attractiveness in the current period. Also, by improving temperature stability and ionic conductivity in batteries, propylene carbonate has gained major industry attention in the current battery blends. Moreover, the propylene carbonate has been meeting the manufacturers' needs who seek reliable and high-performance electrolyte compounds in recent years.

Restraint

Raw Material Volatility Treatments Profit Margins

The price volatility of raw materials is likely to hamper the industry's growth in the coming years. Also, the raw materials such as carbon dioxide and propylene oxide have seen under the heavy price fluctuations, which are closely related to crude oil and natural gas prices, as per the observation.

Market Opportunity  

What is the Most Significant Opportunity for the Propylene Carbonate Industry?

The expansion into emerging economies' manufacturing sectors is expected to create significant opportunities during the forecast period. Also, the countries' increasing investment in electronics, automotive assembly, and advanced materials requires reliable solvent supplies. Propylene carbonate's role in high-performance formulations and battery components makes it a natural fit for these developing markets

From Batch to Continuous Precision

The move toward the adoption of continuous flow reactors for synthesis. Traditional batch processes can be slower and harder to control, leading to variability in product quality. Continuous flow technology enables precise temperature and reaction time control, improving yield consistency and reducing energy consumption.

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Propylene Carbonate Market Segmentation Insights

Grade Insights

How Did the Industrial Grade Segment Dominate the Propylene Carbonate Market?

Industrial grade dominates due to its wide usage in adhesives, solvents, and chemical intermediates. Moreover, factors such as the large-scale availability and affordability have strengthened the bottom line for production firms in recent years, as per the observation.

The battery grade segment is anticipated to grow fastest during the projected period, owing to the rising lithium-ion battery production globally. Also, the segment requires a high-purity solvent with precise electrochemical properties to ensure efficient ion transport. Its use improves battery life, stability, and safety in electric vehicles and energy storage systems.

Synthesis Technology Insights

Which Propylene Oxide Carbonation Segment Dominates the Propylene Carbonate Market?

The propylene oxide carbonation segment dominated the market, due to its combination of efficiency, scalability, and environmental advantages. Using carbon dioxide and propylene oxide, producers achieve high conversion rates with minimal waste. This technology is cost-effective for industrial-grade and specialty applications. It allows integration into existing chemical processes, reducing infrastructure investments.

The phosgene-based synthesis segment offers significant growth during the forecast period, akin to it produces ultra-pure propylene carbonate suitable for high-performance applications like battery electrolytes and electronics. Phosgene reacts with propylene oxide to generate a high-quality, consistent product with minimal impurities.

Application Insights

How did the Lithium-Ion Battery Electrolyte Segment Dominate the Propylene Carbonate Market?

The lithium-ion battery electrolyte segment dominates the market, mainly due to performance and reliability. It enables efficient ion movement and prevents electrode degradation. The shift toward electric vehicles and grid storage drives large-scale demand. Battery-grade propylene carbonate must meet stringent purity and moisture control standards, which industrial-grade carbonate cannot achieve.

The solvent for paints and coatings segment is an emerging segment projected to grow at a CAGR between 2026 and 2035, akin to its excellent solvency and thermal stability. It enables smooth application, proper drying, and minimal defects in finished films. Rising global demand for durable, high-quality coatings in automotive, construction, and industrial sectors supports growth.

End Use Insights

Which End-use Segment Dominates the Propylene Carbonate Market?

The automotive and transportation segment dominates the market, with its versatility in adhesives, paints, coatings, and battery electrolytes. Automotive manufacturers require materials that meet stringent durability, temperature, and chemical performance standards. The rise of electric vehicles further increases demand for battery-grade propylene carbonate.

The paints, coatings, and inks segment is experiencing the fastest growth in the market during the projected period, akin to its versatility and high-performance characteristics. It dissolves various resins, provides thermal and chemical stability, and improves flow and adhesion in inks and paints. Rising demand for eco-friendly, low-VOC coatings in automotive, industrial, and decorative applications drives adoption.

Regional Insights

How did the Asia Pacific hold the Largest Share of the Propylene Carbonate Market? 

The Asia Pacific propylene carbonate market size was valued at USD 206.89 million in 2025 and is expected to be worth around USD 360.84 million by 2035, exhibiting at a compound annual growth rate (CAGR) of 5.74% over the forecast period from 2026 to 2035. The Asia Pacific propylene carbonate market volume was estimated at 345.88 kilo tons in 2025 and is projected to reach 707.62 kilo tons by 2035, growing at a CAGR of 8.28% from 2026 to 2035. Asia Pacific dominated the market with approximately 46% share in 2025.

The Asia-Pacific region leads the global market due to the increasing shift towards lithium-ion batteries and heavy infrastructure projects, where propylene carbonate is known as the ideal component. Also, the government's push towards cleaner energy adoption is creating profitable pathways for the sector participants over the years.

China Propylene Carbonate Market Trends

China's market is expanding as rapid growth in lithium-ion battery production, driven by the electric vehicle and energy storage sectors, significantly increases demand for high-purity PC electrolytes. Domestic production and consumption are rising, supported by strong electronics, automotive, and chemical manufacturing bases that position China as a leading regional market.

Why is the Propylene Carbonate Industry Growing Rapidly in North America? 

The North America region is the fastest-growing region, akin to companies that are linking it with clean energy growth in a new way. Instead of just selling it as a solvent, North American producers are embedding propylene carbonate into next-gen battery test hubs, EV pilot plants, and carbon capture projects that feed directly into local factories.

U.S. Propylene Carbonate Market Trends

The U.S. market is growing steadily, driven by increasing demand for lithium-ion battery electrolytes used in electric vehicles and energy storage systems. Its use as a low-toxicity, environmentally friendly solvent in coatings, adhesives, and industrial applications is also expanding.

More Insights in Towards Chemical and Materials:

Biaxially Oriented Polypropylene (BOPP) Market Size to Hit USD 224.40 Billion by 2035

U.S. Biopolypropylene Market Size to Hit USD 698.38 Mn by 2034

Bio-Based Polypropylene Market Size to Hit USD 6,977.54 Mn by 2034

Green Polypropylene Market Size to Hit USD 72.70 Billion by 2034

Renewable Polypropylene Market Size to Surge USD 133.67 Billion by 2034

Polypropylene Compounds Market Size to Surge USD 50.86 Billion by 2034

U.S. Polypropylene Market Size to Reach USD 29.11 Billion by 2034

Sustainable EPDM Market Volume to Reach 2,61,364.2 Tons by 2034

Polypropylene Market Volume to Reach 135.05 Million Tons by 2034

Bio-based Propylene Glycol Market Volume to Hit 215.45 Mn Tons by 2034

Propylene Glycol Market Size to Hit USD 9.61 Billion by 2034

Ethylene Propylene Diene Monomer Market Size to Reach USD 8.87 Billion by 2034

Polypropylene Market Volume to Reach 135.05 Million Tons by 2034

U.S. Polypropylene Market Size to Reach USD 29.11 Billion by 2034

PAN-based Carbon Fiber Market Size to Hit USD 10.16 Bn by 2035

Lay-up Composites Market Size to Hit USD 120.15 Bn by 2035

Asia Pacific Polymer Foam Market Size to Hit USD 131.7 Bn by 2035

Bio-polyols Market Size to Hit USD 21.47 Bn by 2035

Steel Wire Rope Market Size to Hit USD 19.79 Bn by 2035

Renewable Diesel Market Size to Hit USD 60.43 Billion by 2035

What is Going Around the Global Propylene Carbonate Industry?

In April 2025, Anhui Putan New Materials Technology introduced its enlarged establishment of the CO2-based polycarbonate production line in China. Also, this newly launched plant has an annual production capacity of around 3000000 tons as per the published report.

Propylene Carbonate Market Top Key Companies:

Top Companies in the Propylene Carbonate Market & Their Offerings:

Shandong Wells Chemicals Co., Ltd.: Produces industrial and battery-grade propylene carbonate with a focus on flexible packaging and global logistics.
Haike Chemical Group: Operates as a major large-scale manufacturer, supplying high-purity propylene carbonate used extensively in lithium-ion battery electrolytes.
Liaoning Ganglong Chemical Co., Ltd.: Functions as a specialized producer focusing on the domestic Chinese market for chemical intermediates and solvents.
Shandong Depu Chemical Co., Ltd.: Maintains a significant production footprint with an annual capacity of 50,000 tons, serving as a primary supplier for the resins and coatings industries.
Shandong Shuntong Chemical Co., Ltd.: Provides cost-competitive propylene carbonate primarily utilized as a solvent in synthesis and extraction processes.
Mitsubishi Chemical Group Corporation: Offers high-specification propylene carbonate characterized by extremely low moisture content for high-performance electronics.
Zibo Haihua Chemical Co., Ltd.: Manufactures propylene carbonate for use in the production of polyurethanes and as a high-quality solvent in pesticide formulations.
Tokyo Chemical Industry Co., Ltd. (TCI): Supplies high-purity propylene carbonate specifically as a laboratory-grade reagent for research and development applications.
Empower Materials: Distributes propylene carbonate often used in conjunction with their specialized binder systems and polymer technologies.
Panax Etec Co., Ltd.: Focuses on the production of electrolyte-grade propylene carbonate specifically tailored for the secondary battery industry.
Ube Corporation: Leverages proprietary synthesis technology to provide high-quality propylene carbonate for the global energy storage market.
Wanhua Chemical Group Co., Ltd.: Utilizes large-scale industrial integration to supply propylene carbonate for use in paints, coatings, and the automotive sector.
Kowa Company, Ltd.: Operates as a global distributor and trading house, sourcing and supplying various grades of propylene carbonate for international markets.
Mega Specialty Chemicals: Offers specialized chemical solutions including propylene carbonate for niche industrial cleaning and solvent applications.

 Propylene Carbonate Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2035. For this study, Towards Chemical and Materials has segmented the global  Propylene Carbonate Market

By Grade

Battery Grade (Ultra-High Purity >99.99%)
Industrial Grade (Purity 99.5% - 99.9%)
Electronic Grade

By Synthesis Technology

Propylene Oxide Carbonation (CO2 Insertion)
Phosgene-based Synthesis
Transesterification

By Application

Lithium-Ion Battery Electrolyte
Solvent for Paints and Coatings
Cleaning and Degreasing Agent
Foundry Core Binder
Plasticizer and Polymer Modifier
Chemical Intermediate (Synthesis of Polycarbonates/Carbamates)
Personal Care and Cosmetics (Solvent/Viscosity Modifier)
Gas Treatment (CO2 and H2S Removal)
Textile and Fabric Treatment

By End-Use Industry

Automotive and Transportation (EV Batteries)
Electronics and Electricals
Paints, Coatings, and Inks
Personal Care and Healthcare
Oil and Gas (Refining)
Agriculture (Pesticide Formulations)
Industrial Manufacturing

By Region  

    North America:  

U.S.  
Canada  
Mexico  
Rest of North America

   South America:    

Brazil  
Argentina  
Rest of South America

    Europe:  

Western Europe

Germany  
Italy  
France  
Netherlands  
Spain  
Portugal  
Belgium  
Ireland  
UK  
Iceland  
Switzerland  
Poland  
Rest of Western Europe

  Eastern Europe   

Austria  
Russia & Belarus  
Türkiye  
Albania  
Rest of Eastern Europe

  Asia Pacific:    

China  
Taiwan  
India  
Japan  
Australia and New Zealand,    
ASEAN Countries (Singapore, Malaysia)  
South Korea  
Rest of APAC

  MEA:   

GCC Countries  
Saudi Arabia  
United Arab Emirates (UAE)  
Qatar  
Kuwait  
Oman  
Bahrain  
South Africa  
Egypt  
Rest of MEA

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