The propylene carbonate market has garnered considerable traction over time owing to its increasing applications in lithium-ion batteries. Propylene carbonate, which is colorless, volatile, and almost odorless, has gained widespread usage as an electrolyte solvent in rechargeable lithium-ion batteries used in smartphones, laptops, electric vehicles, and more. Apart from having a high dielectric constant and wide electrochemical window that allows its stable decomposition, propylene carbonate boasts beneficial properties like low toxicity, stability, and non-flammability.

The propylene carbonate market is estimated to be valued at USD 423.78 Bn in 2024 and is expected to reach USD 621.5 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.62% from 2024 to 2031.

The growing Propylene Carbonate Market  Demand for propylene carbonate from the lithium-ion battery industry has had a positive impact on the overall market growth. Its increased usage in battery electrolytes for electric vehicles, portable electronics, and energy storage is favoring the business dynamics.

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