Top 10 Companies in the Propylene Carbonate (PC) Market (2026): Market Leaders Powering Global Demand

MARKET INSIGHTS

Global Propylene Carbonate (PC) market size was valued at USD 1.02 billion in 2025 and is projected to reach USD 1.63 billion by 2034, exhibiting a CAGR of 5.3% during the forecast period.

Propylene carbonate (PC) is a colorless to yellowish, VOC‑exempt polar solvent characterized by its high boiling and flash points, low toxicity, and excellent chemical stability. It is a cyclic carbonate ester primarily used as a high‑purity electrolyte solvent in lithium‑ion batteries and as a versatile, biodegradable industrial solvent in applications such as paints, coatings, and adhesives.

The market is experiencing steady growth, primarily driven by the rapidly expanding electric vehicle (EV) sector, which fuels demand for lithium‑ion batteries. The global push for renewable energy storage solutions further bolsters this application. While the market faces challenges from raw material price volatility and competition from alternative solvents like ethylene carbonate, its eco‑friendly profile and regulatory support for VOC‑free products present significant opportunities. Key industry players, including BASF SE, Huntsman Corporation, and LyondellBasell, are actively engaged in capacity expansions and technological innovations to strengthen their market positions.

Propylene Carbonate (PC) Market – View in Detailed Research Report

1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High‑purity lithium‑battery grade PC, industrial‑grade PC for coatings and adhesives

BASF’s integrated R&D network and long‑standing relationships with battery manufacturers enable it to deliver solvent streams that meet evolving electrolyte performance requirements. The company’s focus on precision purification processes keeps moisture and impurities below industry thresholds, ensuring electrolyte stability and extended cycle life for EV batteries.

Sustainability & Growth Initiatives:

• Investments in CO₂‑derived feedstocks to reduce carbon intensity
• Expansion of low‑toxicity production lines to support VOC‑free solvent markets
• Collaboration with battery OEMs to co‑develop next‑generation electrolytes

2. Huntsman Corporation

Headquarters: New York, USA
Key Offering: Battery‑grade PC and industrial‑grade PC for paints, coatings, and pharmaceutical intermediates

Huntsman leverages its global manufacturing footprint to supply high‑purity PC to battery manufacturers while maintaining competitive pricing for industrial applications. The company’s emphasis on scalable purification technologies positions it to meet rising demand from both the automotive and consumer electronics sectors.

Sustainability & Growth Initiatives:

• Implementation of closed‑loop water systems to reduce freshwater usage
• Targeted R&D into bio‑based PC synthesis pathways
• Partnerships with electric‑vehicle manufacturers to secure long‑term supply contracts

3. LyondellBasell

Headquarters: Rotterdam, Netherlands & Houston, USA
Key Offering: Dual‑grade PC portfolio covering battery‑grade and industrial‑grade solvents

LyondellBasell’s advanced catalytic processes enable consistent production of low‑moisture PC suitable for high‑energy‑density electrolytes. The company’s strategic investments in downstream integration allow it to offer tailored solvent solutions for coatings, adhesives, and specialty chemicals.

Sustainability & Growth Initiatives:

• Carbon capture integration at key production sites
• Optimization of energy consumption across the supply chain
• Expansion of battery‑grade PC capacity to support global EV roll‑out

4. Shida Shenghua Chemical

Headquarters: Shenzhen, China
Key Offering: Cost‑effective PC for battery and industrial applications

Shida Shenghua has rapidly scaled its production capacity to meet the surging demand from China’s domestic EV supply chain. The firm’s focus on efficient reactor technology and rapid purification has reduced lead times and enabled competitive pricing.

Sustainability & Growth Initiatives:

• Investment in modular production units for flexible scale‑up
• Adoption of renewable energy sources for plant operations
• Collaboration with local battery manufacturers to co‑develop high‑purity PC formulations

5. Daze Group

Headquarters: Beijing, China
Key Offering: Industrial‑grade PC for paints, coatings, and cleaning solutions

Daze Group’s extensive feedstock network and advanced distillation units allow it to produce high‑purity PC at competitive margins. The company is actively expanding its presence in Southeast Asia to capture growing industrial solvent markets.

Sustainability & Growth Initiatives:

• Implementation of zero‑liquid‑discharge processes
• Development of biodegradable solvent blends for coatings
• Strategic partnerships with regional battery suppliers

6. Shandong Depu Chemical

Headquarters: Jinan, China
Key Offering: Battery‑grade PC for EV and energy‑storage applications

Shandong Depu’s state‑of‑the‑art purification facilities ensure low‑moisture PC suitable for high‑energy‑density electrolytes. The company’s focus on continuous process improvement has lowered production costs while maintaining quality.

Sustainability & Growth Initiatives:

• Adoption of energy‑efficient reactors
• Integration of waste‑heat recovery systems
• Expansion of capacity to support regional EV manufacturing hubs

7. Hi‑tech Spring Chemical

Headquarters: Shanghai, China
Key Offering: Industrial‑grade PC for cleaning and specialty chemical applications

Hi‑tech Spring Chemical leverages advanced distillation technologies to produce PC with minimal impurities, catering to demanding industrial processes. The firm’s focus on product differentiation has positioned it as a preferred supplier for high‑purity solvent needs.

Sustainability & Growth Initiatives:

• Implementation of water‑recycling systems
• Development of low‑VOC solvent formulations
• Collaboration with chemical processors for joint R&D

8. Linyi Evergreen Chemical

Headquarters: Linyi, China
Key Offering: Battery‑grade PC and industrial‑grade PC for coatings

Linyi Evergreen’s scalable production lines enable rapid response to market demand spikes. The company’s commitment to process optimization has resulted in lower energy consumption and higher product yield.

Sustainability & Growth Initiatives:

• Use of renewable energy for plant operations
• Development of bio‑derived PC feedstock processes
• Partnerships with battery manufacturers to secure long‑term supply agreements

9. Shandong Feiyang Chemical

Headquarters: Qingdao, China
Key Offering: Industrial‑grade PC for paints and adhesives

Shandong Feiyang’s focus on high‑purity distillation ensures compliance with stringent solvent specifications required by the coatings industry. The firm’s investment in advanced purification technologies has positioned it as a reliable supplier for global OEMs.

Sustainability & Growth Initiatives:

• Implementation of waste‑water treatment systems
• Adoption of low‑energy distillation processes
• Expansion of capacity to serve emerging markets in Southeast Asia

10. Sinopec

Headquarters: Beijing, China
Key Offering: Battery‑grade PC and industrial‑grade PC for a range of chemical applications

Sinopec’s extensive petrochemical network provides a stable feedstock base for PC production. The company’s focus on integrated manufacturing and quality control has enabled it to secure a growing share of the battery and industrial solvent markets.

Sustainability & Growth Initiatives:

• Investment in CO₂‑to‑chemical conversion projects
• Implementation of energy‑efficient production lines
• Collaboration with battery OEMs to co‑develop high‑performance electrolytes

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OUTLOOK

• Battery‑grade PC demand will continue to rise as EV adoption accelerates across North America, Europe, and Asia‑Pacific.
• Industrial‑grade PC consumption will grow in the coatings and adhesives sector, driven by low‑VOC regulatory mandates.
• Regional supply chains will adapt to meet the higher purity and safety standards required for next‑generation electrolytes.
• Competitive pressure from emerging Chinese manufacturers will push incumbents to innovate and streamline operations.
• Investments in bio‑based synthesis routes will reduce reliance on petrochemical feedstocks and enhance market appeal.

FUTURE TRENDS

• Development of solid‑state battery electrolytes will create new high‑purity PC requirements.
• Advances in catalytic CO₂ utilization will open alternative production pathways.
• Expansion of renewable energy storage projects will increase PC demand in grid‑scale applications.
• Regulatory shifts toward stricter VOC limits will accelerate the transition to PC‑based solvents.
• Digitalization of supply chains will improve traceability and quality control across the PC value chain.