Global Battery Electrolytes Market Report 2022: Market to Reach $4.2 Billion by 2024 - Improvement in Lithium-Ion Battery Energizes Growth in Electrolyte Market

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Jun 03, 2022, 06:45 ET

DUBLIN, June 3, 2022 /PRNewswire/ -- The "Battery Electrolytes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Battery Electrolytes Market to Reach $4.2 Billion by 2024

The global market for Battery Electrolyte is projected to reach US$4.2 Billion by 2024, registering a compounded annual growth rate (CAGR) of 2.9% over the analysis period.

Europe represents the largest regional market for Battery Electrolyte, accounting for an estimated 18.5% share of the global total. The market is projected to reach US$816.9 Million by the close of the analysis period. Asia-Pacific is forecast to emerge as the fastest growing regional market with a CAGR of 4.8% over the analysis period.

Long term growth in the market is supported by factors such as increasing focus on electric vehicles, sales of automobiles, growing share of alternative energy in the energy mix, and strong demand from the replacement market. Available in liquid, solid and gel forms, battery electrolytes represent a medium to facilitate ion transfer for conductivity and store electrical charge. Electrolyte is a major component of the battery owing to its critical role in supporting overall functioning of the battery.

The increasing adoption of batteries in industries such as consumer electronics, automotive, manufacturing and aerospace & defense is providing a major impetus to the battery electrolyte market. Consumer electronics and automotive are the primary end-use industries for these batteries, while energy storage is a promising application area.

The increasing use of consumer electronic items along with availability of binder-free electrodes for lithium-ion batteries are driving the market growth, while the adoption of electric vehicles to curb carbon emissions is expected to help the market in exhibiting a fast growth in the long term.

Electric vehicles are garnering significant attention from governments and automobile giants to reduce vehicle emissions and protect the environment. In the coming years, leading players are anticipated to launch new and efficient versions of electric vehicles, which are slated to drive their adoption and push the battery electrolyte market.

Electric vehicles have been garnering considerable attention over the last few years on account of increasing focus of governments on reducing carbon footprint of the automobile sector. Various countries have set ambitious plans to embrace the concept and offering attractive incentives and subsidies for promoting electric cars.

These endeavors have resulted in significant investment in electric vehicles and battery technologies for increasing range and charging time to attract consumers. In the coming years, these vehicles are anticipated to replace a large number of traditional automobiles plying on roads.

Ongoing developments related to battery technology intended to improve energy density and reducing unit cost of batteries are anticipated to drive global adoption of the technology for electric vehicles. These developments along with growing demand for electric vehicles are anticipated to play a pivotal role in fueling the global battery electrolyte market.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Battery Electrolyte: An Introduction
Impact of Covid-19 and a Looming Recession
Long Term Market Outlook
Lithium-ion Battery Electrolyte to Register Strong Growth
Asia-Pacific to Experience Favorable Growth
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Battery Electrolytes - Global Key Competitors Percentage Market Share in 2022 (E)
Competition

2. FOCUS ON SELECT PLAYERS (Total 39 Featured)

Guangzhou Tinci Materials Technology Co., Ltd.
Shenzhen Capchem Technology Co., Ltd.
3M
American Elements
BASF SE
GS Yuasa Corporation
LG Chem
Mitsubishi Chemical Corporation
Ube Industries
Beijing Institute of Chemical Reagents
Central Glass
Guotai Huarong
Shantou Jinguang High-Tech
Soulbrain
Zhuhai Smoothway
Toshima Manufacturing Co. Ltd.
Advanced Electrolyte Technologies
Gelest
Targray
Ceramtec
Ohara Corporation
Daikin America
Nohms Technologies
Stella Chemifa
Tomiyama Pure Chemical Industries

3. MARKET TRENDS & DRIVERS

E-Mobility: An Expanding Market for Battery Electrolyte
Rise in Adoption of Renewable Energy and Growing Need for Battery Storage to Drive Demand for Battery Electrolyte
Rapid Growth of Renewable Energy Market: Opportunity for Battery Electrolyte Markets
Improvement in Lithium-Ion Battery Energizes Growth in Electrolyte Market
Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
Rising Adoption of IoT Devices to Increase the Demand for Battery Electrolytes
Investments on Rise in Development of Advanced Battery Technologies
Few Recent Advancements in Non-Flammable Electrolytes for Safer Lithium-Ion Battery Applications
New Generation Lithium-ion Batteries Could Store More Power as they are Nonflammable
Advances in Battery Technologies Stir Changes in Electrolyte Composition
Select Innovations
Dual Electrolyte Battery Technology: A New Development
Industry Seeks Rentable Electrolytes Model for Flow Batteries to Compete Against Lithium Ion Batteries
Strict Carbon Emission Regulations to Boost Demand in Lithium Ion Battery Electrolytes Market
Competing Disruptive Battery Technologies for Li-ion Batteries