Ethyl Methyl Carbonate (EMC) is a colorless and flammable liquid that finds applications in various industries, including pharmaceuticals, coatings, and electronics. With the growing demand for eco-friendly solvents and the development of new applications, the global EMC market is witnessing significant growth.
Here are some emerging applications of EMC and their market insights and opportunities:
- Lithium-ion batteries: EMC is used as a solvent in the production of lithium-ion batteries. The increasing demand for electric vehicles and portable electronic devices is expected to drive the growth of the lithium-ion battery market, which in turn is expected to drive the demand for EMC. According to a report by Grand View Research, the global lithium-ion battery market size is expected to reach USD 133.5 billion by 2027, growing at a CAGR of 18.0% from 2020 to 2027.
- Agrochemicals: EMC is used as a solvent for the production of agrochemicals, such as pesticides and herbicides. The increasing demand for food due to the growing population and shrinking agricultural land is expected to drive the growth of the agrochemical market, which in turn is expected to drive the demand for EMC. According to a report by Mordor Intelligence, the global agrochemicals market size is expected to reach USD 291.5 billion by 2026, growing at a CAGR of 3.3% from 2021 to 2026.
- Cosmetics: EMC is used as a solvent for the production of cosmetics, such as creams, lotions, and shampoos. The increasing demand for personal care products due to the growing awareness of personal hygiene and grooming is expected to drive the growth of the cosmetics market, which in turn is expected to drive the demand for EMC. According to a report by Allied Market Research, the global cosmetics market size is expected to reach USD 463.5 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
- Adhesives and sealants: EMC is used as a solvent for the production of adhesives and sealants. The increasing demand for adhesives and sealants due to their bonding and sealing properties in various industries, such as automotive, construction, and packaging, is expected to drive the growth of the adhesives and sealants market, which in turn is expected to drive the demand for EMC. According to a report by MarketsandMarkets, the global adhesives and sealants market size is expected to reach USD 63.5 billion by 2025, growing at a CAGR of 5.6% from 2020 to 2025.
The key players operating in the global EMC market are focusing on research and development activities to improve the quality and properties of EMC and expand their product portfolios to cater to the emerging applications. Some of the key players include BASF SE, Eastman Chemical Company, Mitsubishi Chemical Corporation, and Shandong Senjie Chemical Co., Ltd.
In conclusion, the emerging applications of EMC are expected to drive the growth of the global EMC market in the coming years. The lithium-ion battery, agrochemical, cosmetics, and adhesives and sealants industries are expected to offer significant market opportunities for EMC. The key players in the market are focusing on research and development activities to cater to the emerging applications and expand their market presence.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.