DUBLIN, March 1, 2019 /PRNewswire/ -- The "Battery Additives Market by Type (Conductive Additive, Porous Additive, and Nucleating Additive), Application (Lead Acid and Li-ion), and Region (APAC, Europe, North America, South America, and the Middle East & Africa) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The battery additives market size is estimated at USD 1.2 billion in 2018 and is projected to reach USD 1.8 billion by 2023
The growth of this market is attributed to the increasing investments in renewable energy. Another factor driving the battery additives market is the growing demand for Li-ion batteries in consumer electronics and high adoption of HEV, PHEV, and EV in the automotive industry. However, underdeveloped support infrastructure for EVs and stringent safety issues related to batteries are restraining the growth of the battery additives market. Technological advancements in Li-ion batteries are providing growth opportunities for battery additives manufacturers.
Lead acid application to be the largest segment of the battery additives market, in terms of value.
The lead acid segment was the largest application of battery additives in 2017. It is the most widely used application in industries such as automotive, consumer electronics, and industrial. The most common use of lead acid batteries is for starting, lighting, and ignition (SLI) in automobiles and other vehicles with internal combustion engines. They are also used in standby applications such as telecommunication, burglar, fire alarms, and emergency lighting.
The Electric Vehicles sub-application is projected to register a higher CAGR during the forecast period.
The EVs segment is projected to be the fastest-growing sub-application in the Li-ion segment of the battery additives market during the forecast period. The demand for EVs in the automotive industry is rising as it offers better efficiency and clean and sustainable fuel. In addition, governments are promoting the adoption of alternative fuel vehicles to reduce the dependence on oil imports. Additionally, innovation and technology advancements in Li-ion batteries are the key opportunities for the market players. All major players are investing in R&D of battery additives. This has led to various improvements in batteries in terms of higher power output and energy density, quick charging, more safety, and longer shelf life, which is increasing the demand for EVs, globally.
APAC is projected to be the largest battery additives market, in terms of value, during the forecast period.
The APAC battery additives market is projected to register the highest CAGR during the forecast period. This growth is mainly driven by high demand in portable devices and electric vehicles applications. Rising population and growing end-use industries have led to innovation and development, making APAC an important industrial hub, globally. High growth and innovation along with industry consolidations are expected to lead to the rapid growth of the market in APAC.
The key players in this market are Cabot Corporation (US), 3M (US), IMERYS (France), Orion Engineered Carbons (Luxembourg), Hammond Group (US), SGL Carbon (Germany), Borregaard (Norway), HOPAX (Taiwan), PENOX (Germany), and ALTANA (Germany).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Battery Additives Market
4.2 Battery Additives Market, By Application
4.3 Battery Additives Market, By Major Countries
4.4 APAC Battery Additives Market, By Application and Country
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Increasing Demand for Li-Ion Batteries in Consumer Electronics Applications
22.214.171.124 High Adoption of Hev, Phev, and Ev in the Automotive Industry
126.96.36.199 Increasing Investments in Renewable Energy
188.8.131.52 Underdeveloped Support Infrastructure for EVs
184.108.40.206 Stringent Safety Issues Related to Batteries
220.127.116.11 Technological Advancements in Li-Ion Batteries
18.104.22.168 Regulations and Safety Issues Related to Lead Acid Batteries
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Battery Additives Market, By Type
6.2 Conductive Additive
6.3 Porous Additive
6.4 Nucleating Additive
7 Battery Additives Market, By Application
7.2 Lithium-Ion Battery
7.2.1 Portable Devices
22.214.171.124 Better Performance and Durability of Li-Ion Battery to Drive the Demand in the Portable Devices Application
7.2.2 Electric Vehicles
126.96.36.199 Increasing Environmental Awareness About the Use of Li-Ion Battery in EVs to Increase the Demand for Battery Additives
188.8.131.52 Improved Efficiency of Li-Ion Batteries in Construction and Mining Equipment to Fuel the Demand for Battery Additives
7.3 Lead Acid Battery
184.108.40.206 Growing Production of Automobiles to Drive the Battery Additives Market
220.127.116.11 Improved Mechanical and Electrical Properties of Lead Acid Battery are Boosting the Battery Additives Market
8 Battery Additives Market, By Region
9 Competitive Landscape
9.2 Competitive Leadership Mapping
9.3 Competitive Benchmarking
9.4 Ranking of Key Players, 2018
9.5 Competitive Scenario
10 Company Profiles
- Cabot Corporation
- Hammond Group
- Orion Engineered Carbons
- SGL Group
For more information about this report visit https://www.researchandmarkets.com/research/tx5ns5/1_8_bn_battery?w=5
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