Battery Electrolyte Market is expected to generate a revenue of USD 7.6 Billion by 2030, Globally, at 7.42% CAGR: Verified Market Research®
The electrolyte brings the reaction's components into contact with the anode and cathode, converting stored energy into usable electrical energy, which serves as the targeted Battery Electrolyte Market's primary growth driver.
JERSEY CITY, N.J., Sept. 20, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Battery Electrolyte Market" By Battery Type (Lead-acid, Lithium-ion, Nickel Metal), By Electrolyte Type (Sodium Chloride, Nitric Acid, Sulphuric Acid), and By Geography.
Battery Electrolyte Market size was valued at USD 4.3 Billion in 2021 and is projected to reach USD 7.6 Billion by 2030, growing at a CAGR of 7.42% from 2022 to 2030, according to the most recent study from Verified Market Research.
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Browse in-depth TOC on "Battery Electrolyte Market"
202 - Pages
126 – Tables
37 – Figures
Report Scope
Global Battery Electrolyte Market Overview
The electrolyte is the medium that allows ions to move between the cathode and anode of a cell. Furthermore, lithium-ion batteries use a liquid, gel, or dry polymer electrolyte. Instead of an aqueous form, the flammable organic variation is a solution of lithium salts in organic solvents similar to ethylene carbonate. Mixing the solutions with various carbonates results in higher conductivity and a wider temperature range. Electrolytes are typically thought of as liquids that include dissolved salts, acids, or alkalis required for ionic conduction.
The main factor driving growth in the global battery electrolyte market is an increase in disposable income. The majority of vehicle batteries contain a liquid substance known as battery electrolyte. It is frequently referred to as battery acid due to its high acidity. In actuality, a mixture of water and sulfuric acid makes up the battery electrolyte. Different types of batteries employ various chemical processes and electrolytes. For instance, sulfuric acid is frequently used in lead-acid batteries to provide the necessary reaction. Zinc oxidation with oxygen is the basis of the chemistry of zinc-air batteries. Potassium hydroxide serves as the electrolyte in the majority of household alkaline batteries. The most typical electrolyte used in lithium batteries is a lithium salt solution, such as lithium hexafluorophosphate.
The market is divided into lead-acid, lithium-ion, nickel metal, and other categories depending on the type of battery. The largest market share is held by the lithium-ion segment. On the other hand, the market is divided into Sodium Chloride, Nitric Acid, Sulphuric Acid, and Others based on the type of electrolyte. The largest market share is held by the sulphuric acid category. The Global Battery Electrolyte Market is divided into four regions based on geography: North America, Europe, Asia Pacific, and the Rest of the World. The highest CAGR is anticipated to be seen in the Asia-Pacific region throughout the forecast period.
Key Developments
- In 2020, Mitsubishi Chemicals Corporation had announced a Joint Incorporation Agreement with Ube Industries. The parties have been jointly operating the business in China through Changshu UM Battery Materials Co., Ltd. in the form of a joint venture.
- In October 2019, Hitachi Chemical had announced to establish a new consolidated subsidiary in Thailand (hereinafter "new Thai Company") and to transfer the automotive lead-acid battery business of Hitachi Chemical Asia (Thailand) Co., Ltd. (hereinafter "HCTD") to the new Thai Company for the purpose of reorganizing and integrating lead-acid battery business in Southeast Asia.
Key Players
The "Global Battery Electrolyte Market" study report will provide a valuable insight with an emphasis on the global market. The major players in the market are
- Mitsubishi Chemicals Corporation
- UBE Industries
- Shenzhen Capchem Technology Co., Ltd.
- 3M
- Advanced Electrolyte Technologies
- Hitachi Chemical
- BASF SE
- Umicore
- Johnson Controls
- American Elements
Based on the research, Verified Market Research has segmented the global Battery Electrolyte Market into Battery Type, Electrolyte Type, and Geography.
- Battery Electrolyte Market, By Battery Type
- Lead-acid
- Lithium-ion
- Nickel Metal
- Others
- Battery Electrolyte Market, By Electrolyte Type
- Sodium Chloride
- Nitric Acid
- Sulphuric Acid
- Others
- Battery Electrolyte Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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