Market Research Report
Carbonate Market by Type, Application, and End Use : Global Opportunity Analysis and Industry Forecast, 2021-2030
|Carbonate Market by Type, Application, and End Use : Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: December 22, 2021
Allied Market Research
Content info: 370 Pages
Delivery time: 2-3 business days
The global carbonate market was valued at $3.5 billion in 2020, and is projected to reach $7.1 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030.
Carbonates are salts of carbonic acids that are characterized by the presence of carbonate ions and polyatomic ions. Dimethyl, propylene, ethylene, glycerol, and styrene are types of carbonates that are used in applications such as solvents, catalysts, and cleaner.
The growth of the global carbonate market is attributed to rise in use of propylene carbonate in the cosmetics & personal care industry. Propylene carbonate is used in formulation of cosmetics & personal care products for dissolving or suspending other ingredients into cosmetic products. In addition, it is used to minimize thickness of cosmetic and personal care formulations. Majorly propylene glycol was used as an active ingredient in cosmetics & personal care products. In addition, it can also be employed during formulation of skin cleaning products. Texture consistency is the most important factor in cosmetic formulation or products. Propylene carbonate allows even distribution of ingredients that are used in cosmetic formulation that further improves product texture consistency. Viscosity is another considerable factor for formulation of personal care products. Personal care products with minimal thickness spreads easily on application to hair or skin. Thickness of products depend upon viscosity. Thus, propylene carbonate is used to minimize viscosity and thin out or reduce thickness of personal care formulation. All these factors drive growth of the global market.
However, major raw materials that are used for production of industrial use organic carbonates include bisphenol A and diphenyl carbonate. These raw materials are toxic in nature and further lead to environmental degradation, which is predicted to hamper the market growth.
Ethylene carbonate is widely used in production of polycarbonate diols and this diol is further used in production of polyurethane coating products. Dimethyl carbonate is widely used as volatile organic compound (VOC)-exempt solvent in the paints & coating industry. Esters, glycol ethers, and ketones are also used in the paints & coating industry. However, fast evaporating property of dimethyl carbonate makes it suitable to be used as polar solvent during formulation of paint & coating products. Other applications of dimethyl carbonate in the paints & coating industry include manufacturing of protective coating products, solvent-borne paints & coatings, and water-borne paints & coating products. In addition, it can also be used for production of phenol resin, polyester polyols, and polyesterimides that are used in the coating industry. The major application of propylene carbonate in the paint industry is during formulation of paint strippers. This factor is anticipated to offer remunerative opportunities for the carbonate market in the future.
The carbonate market analysis is done on the basis of type, application, end use, and region. Depending on type, the market is divided into dimethyl, propylene, ethylene, glycerol, 1,2-epoxydodecane, 1,2-hexadecene, styrene, epichlorohydrin, and others. The applications covered in the study include solvents, catalysts, electrolytes, additives, cleaners, and others. On the basis of end use, it is divided into cosmetics & personal care, paints & coatings, pharmaceuticals, textile, energy & power, polymer, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The carbonate market profiles leading players that include BASF SE, Huntsman International LLC, LyondellBasell Industries Holdings B.V., Empower Materials, Anmol Chemicals Group, Kowa Company Ltd., Shandong Lixing Chemical Co. Ltd., ReactChem Co. Ltd., SMC Global, and TOAGOSEI Co. Ltd.
The global carbonate market report provides in-depth competitive analysis as well as profiles of these major players.
Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future estimations of the market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
By End Use
Cosmetics and Personal Care
Paints and Coatings
Energy and Power
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Key Players in the Global Water-soluble films Market are: