Fluoroethylene carbonate (114435-02-08) is also known as 4-Fluoro-1,3-dioxolan-2-one is used as an electrolyte in lithium ion batteries. It permits the formation of stable, thin and smooth passive solid electrolyte layer making it insoluble in the electrolyte ultimately increasing the cycling efficiency and discharge capacity retention of the battery. As a film forming additive the structure of fluoroethylene carbonate (FEC) is very much similar ethylene carbonate. FEC has been very successful at extending the life cycle of the battery. Its unique performance has made it a standard additive in the chemical market for almost all silicon electrodes. The demand of lithium ion batteries form the consumer electronics and electronic vehicle industry, which is anticipated to witness a healthy CAGR over the forecast period is expected to fuel the demand for the global FEC market over the forecast period.
Global Fluoroethylene Carbonate (FEC) Market: Drivers & Restraints
The global FEC market is witnessing a healthy growth, particularly driven by its application in lithium ion batteries. Lithium ion batteries have widely been used for portable electronics and more recently finding usage in transportation applications owing to their high energy densities, long cycle life and environmental friendliness. The growth of FEC is driven by high demand for lithium ion batteries which is expected to witness a double digit CAGR over the forecast period. The increasing demand for electric vehicles requires the development of lithium ion batteries with high energy densities. The global market for lithium ion batteries is fast growing and is expected to be around US$ 30 Bn by the end of 2020. Most of the lithium ion batteries are useful in consumer electronics devices like mobile phone and notebook PCs. However expansion in automotive products used in electric vehicles and in storage application is expected to drive the demand of FEC by the end of 2026.
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Global Fluoroethylene Carbonate (FEC) Market: Segmentation
On the basis of end use,the global FEC market is segmented into
- Consumer Electronics
- Electronic Vehicles
Global Fluoroethylene Carbonate (FEC) Market: Region-wise Outlook
In terms of geography, the global FEC market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. North America is anticipated to endure its control on the global FEC market. Western Europe, followed by Japan a key market for consumer electronics is expected to register high growth rate in the global FEC market. The European countries are also expected to contribute a prominent share in the global FEC market over the forecast period. Growth in the Western Europe region is anticipated to be driven by the demand from the electric vehicle market making use of lithium ion lead acid batteries is one of the key factors to fuel the demand for FEC over the forecast period. Japan is one of the key markets for consumer electronics followed by Asia Pacific and are anticipated to showcase promising growth in terms of consumption of FEC over the forecast period.
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Global Fluoroethylene Carbonate (FEC) Market: Key Players
Key players in the global FEC market report include Foosung, FKoreaOL Material, Zhanggiagang Hankang Chemical, HSC Corporation, Rongcheng Qing Mu High-Tech Materials, FuJianChuangXin Science and Develops, Anhui Filltime Special Solvent, Changshu Changel Chemical and Hangzhou Silong Material Technology, Shifeng Technology.