Propylene Carbonate Market Size

Propylene Carbonate Market size was over USD 281.79 million in 2024 and is poised to exceed USD 593.71 million by 2037, growing at over 5.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of propylene carbonate is evaluated at USD 295.09 million.. The growth of the market can be attributed to the rising demand for lithium-ion batteries owing to the high demand from end-user industries. Propylene carbonate is used as a key component in the battery’s electrolyte solutions owing to its high dielectric constant. For instance, the lithium-ion battery pack cost reached around USD 150 in 2018 globally. Hence, it is one of the major factors expected to enlarge the market size over the forecast period.

Higher penetration of laptops, smartphones is further expected to propel the propylene carbonate market over the forecast period. As of 2021, around 275 million laptops were noticed to be shipped worldwide while around 150 million tablets were sold out in a similar year across the globe. Hence, all these factors are projected to flourish the growth of the market over the forecast period.