PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1172557
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1172557
Battery Electrolyte Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018-2028, Segmented By Type of Battery ; Type of Electrolyte ; End User By Region
Global Battery Electrolyte Market to Reach USD 19.6 Billion by 2028.
The global battery electrolyte market is expected to grow at a higher CAGR due to a significant increase in demand for batteries, which is the primary driver of the global battery electrolyte market. Furthermore, increased research and development (R&D) to develop new electrolytes is anticipated to cater to the new sectors and boost sales. Furthermore, as the majority of consumer electronics such as smartphones, remote controls use batteries and the rise in sales of electric vehicles that use batteries, will result in long-term sustainable growth during the forecast period.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global battery electrolyte market was worth USD 6.7 billion in the year 2021. The market is projected to grow at a CAGR of 16.9% from 2022-2028 (forecast period), earning revenues of around USD 19.6 billion by the end of 2028. The market is booming owing to the growing need for microsatellites across a wide range of industries, which is expected to drive market growth. Additionally, the rising research activities and higher investments in developing new battery electrolyte technology innovations are expected to boost the global battery electrolyte market forward in the coming years. Furthermore, with the significant increase in demand for batteries in major sectors and the acceptability of electric vehicles, the demand for the global battery electrolyte market will greatly accelerate and boost the growth throughout the forecast period.
Rising Demand for Batteries in Key Industries Set to Boost Global Battery Electrolyte Industry
Demand for batteries has increased dramatically in recent years, and this is projected to continue for at least the next few years. Globally, there is an emphasis on reducing the use of traditional energy sources in several areas, such as automotive and power. As a result, overall output and demand for lead-acid and lithium-ion batteries have increased. Electric vehicles, energy storage, and consumer electronics are among the primary areas that have seen the expansion of these batteries. Rapid innovation and increased spending on Research & Development(R&D) for new and innovative applications have increased the demand for battery electrolytes in the global market.
Restraint
Inadequate recycling technologies for battery materials hindering growth
Recycling of the raw materials needed to make lithium-ion batteries is encouraged by their high cost of production. However, recycling technologies for these batteries are lacking. Countries such as India lack adequate legislation to prevent the unlawful disposal of expended lithium batteries. The country lacks a unified set of guidelines for the safe disposal of EV batteries. This could be a concern for India in the future, as the country could become a lithium trash dumpsite for both homegrown EVs and imported wasted batteries. As a result, the lack of efficient recycling solutions for battery materials may have an impact on the growth of the global battery electrolyte market, negatively impacting demand for battery electrolytes.
Segmental Coverage
Global Battery Electrolyte Market- By Type of Battery
Based on the type of Battery, the market is classified into Lead Acid, Lithium-ion, Flow Battery, and Others. The lithium-ion battery sector is the fastest expanding market by battery type over the projection period- In terms of value, the lithium-ion battery segment was the largest in 2021. Lithium-ion batteries have gained popularity over the years due to their high energy and power density in terms of volume, as well as their high charge/discharge efficiency and weight. These batteries are used in a variety of applications, including electric vehicles, consumer electronics, and energy storage systems. As a result of the expansion of these industries and the fast industrialization of developing countries, demand for this segment is predicted to rise throughout the forecast period.
Global Battery Electrolyte Market- Regional Insights
The geographical regions of the global battery electrolyte market include North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), the Middle East, and Africa (MEA). Asia Pacific had the largest market share in 2021, followed by Europe. The dense population of the region boosts energy requirements, and several countries in this region's governments are working hard to decrease the harmful environmental effects of the energy sector. Furthermore, in Asia Pacific, some of the main battery-based energy storage system manufacturers include Samsung SDI Co., Ltd., LG Energy Solutions Co., Ltd., and Hitachi Ltd. This will increase demand for lead-acid and lithium-ion batteries while also propelling the region's battery electrolyte market forward.
Impact of COVID-19 on Global Battery Electrolyte Market
Almost every business has been affected by the unparalleled global public health emergency known as COVID-19, and the long-term effects are expected to have an impact on industry growth throughout the forecast period. In order to ensure that core COVID-19 concerns and potential future directions are taken into consideration when assessing future growth, there is a need to recognize that the Global Battery Electrolyte market has been affected by the global restrictions caused by the pandemic. As restrictions are withdrawn in the majority of countries where a larger part of the population is vaccinated, it is expected that the global battery electrolyte industry will achieve the compound annual growth rate (CAGR) as a project in the forecast period owing to the need of the consumer to entertain themselves after such a long period of being locked in their households.
Competitive Landscape
The key players in the market are: Advanced Electrolyte Technologies, 3M, Umicore, Toray Industries Inc., POSCO, Mitsubishi Chemical Holdings, Hitachi Chemical, American Elements, Gelest Inc., Daikin America Inc., Cermatec, BASF SE, Shenzhen Capchem Technology Co. among other prominent players in the market. Major market competitors use a variety of techniques, including mergers and acquisitions, innovative therapies, and others, to stay competitive and gain an advantage over rivals. The Global Battery Electrolyte Market is consolidated with the presence of several manufacturing companies globally. The market leaders retain their supremacy by spending on research and development(R&D), incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are utilized in order to maintain their market share.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Battery Electrolyte Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Nanosatellite and Microsatellite Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Global Battery Electrolyte Market Variable Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increased Research & Development(R&D) To Develop New Electrolytes
- 3.2.1.2. Growing Need for battery-operated material handling equipment in industries due to automation
- 3.2.1.3. Increasing Demand for Electric and Hybrid Electric Vehicles
- 3.2.1.4. Growing Adoption of Battery Technology in the Renewable Energy Industry
- 3.2.1.5. Rising Demand for Battery-Operated Material-Handling Equipment and Automation in Various Industries
- 3.2.1.6. Increasing Installation of Batteries in the Utility Sector
- 3.2.1.7. Increasing Advancements in Smart Electronic Devices
- 3.2.2. Restraints
- 3.2.2.1. Lithium-ion battery manufacturers in emerging markets lack government incentives and subsidies
- 3.2.2.2. Rising concern regarding storage & transportation of Spent Batteries
- 3.2.3. Opportunities
- 3.2.3.1. Rising Demand for Batteries in Key Industries Set to Boost Global Battery Electrolyte Industry
- 3.2.3.2. Rising Requirement for Advanced Batteries in Data Centres
- 3.2.3.3. Increasing Research and Development for Advancement in Batteries
- 3.2.4. Challenges
- 3.2.4.1. Inadequate recycling technologies for battery material
- 3.2.4.2. High Cost of Battery-Operated Industrial Vehicles
- 3.2.1. Growth Drivers
- 3.3. Technological Advancement/Recent Development
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Global Battery Electrolyte Market Overview
- 4.1. Market Size & Forecast by Value, 2020-2028
- 4.1.1. By Value (USD Million)
- 4.1.2. By Volume (Million Units)
- 4.2. Market Share & Forecast
- 4.2.1. By Type of Battery
- 4.2.1.1. Lead Acid
- 4.2.1.2. Lithium-ion
- 4.2.1.3. Flow Battery
- 4.2.1.4. Others
- 4.2.2. By Type of Electrolyte
- 4.2.2.1. Liquid Electrolyte
- 4.2.2.2. Solid Electrolyte
- 4.2.2.3. Gel Electrolyte
- 4.2.2.4. Sodium Chloride
- 4.2.2.5. Nitric Acid
- 4.2.2.6. Sulphuric Acid
- 4.2.2.7. Others
- 4.2.3. By End User
- 4.2.3.1. Electric Vehicle
- 4.2.3.2. Energy Storage
- 4.2.3.3. Consumer Electronics
- 4.2.3.4. Others
- 4.2.4. By Region
- 4.2.4.1. North America
- 4.2.4.2. Europe
- 4.2.4.3. The Asia-Pacific
- 4.2.4.4. Latin America
- 4.2.4.5. The Middle East and Africa
- 4.2.1. By Type of Battery
5. North America Battery Electrolyte Market
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.1.2. By Volume (Million Units)
- 5.2. Market Share & Forecast
- 5.2.1. By Type of Battery
- 5.2.2. By Type of Electrolyte
- 5.2.3. By End User
- 5.2.4. By Country
- 5.2.4.1. United States
- 5.2.4.2. Canada
6. Europe Battery Electrolyte Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.1.2. By Volume (Million Units)
- 6.2. Market Share & Forecast
- 6.2.1. By Type of Battery
- 6.2.2. By Type of Electrolyte
- 6.2.3. By End User
- 6.2.4. By Region
- 6.2.5. By Country
- 6.2.5.1. Germany
- 6.2.5.2. United Kingdom
- 6.2.5.3. Italy
- 6.2.5.4. France
- 6.2.5.5. Spain
- 6.2.5.6. Rest of Europe
7. The Asia-Pacific Battery Electrolyte Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.1.2. By Volume (Million Units)
- 7.2. Market Share & Forecast
- 7.2.1. By Type of Battery
- 7.2.2. By Type of Electrolyte
- 7.2.3. By End User
- 7.2.4. By Region
- 7.2.5. By Country
- 7.2.5.1. China
- 7.2.5.2. India
- 7.2.5.3. Japan
- 7.2.5.4. South Korea
- 7.2.5.5. Australia
- 7.2.5.6. Indonesia
- 7.2.5.7. Malaysia
- 7.2.5.8. Philippines
- 7.2.5.9. Singapore
- 7.2.5.10. Rest of Asia-Pacific
8. Latin America Battery Electrolyte Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.1.2. By Volume (Million Units)
- 8.2. Market Share & Forecast
- 8.2.1. By Type of Battery
- 8.2.2. By Type of Electrolyte
- 8.2.3. By End User
- 8.2.4. By Region
- 8.2.5. By Country
- 8.2.5.1. Brazil
- 8.2.5.2. Mexico
- 8.2.5.3. Argentina
- 8.2.5.4. Chile
- 8.2.5.5. Peru
- 8.2.5.6. Rest of Latin America
9. The Middle East & Africa Battery Electrolyte Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.1.2. By Volume (Million Units)
- 9.2. Market Share & Forecast
- 9.2.1. By Type of Battery
- 9.2.2. By Type of Electrolyte
- 9.2.3. By End User
- 9.2.4. By Region
- 9.2.5. By Country
- 9.2.5.1. Saudi Arabia
- 9.2.5.2. UAE
- 9.2.5.3. Qatar
- 9.2.5.4. South Africa
- 9.2.5.5. Iran
- 9.2.5.6. Nigeria
- 9.2.5.7. Kenya
- 9.2.5.8. Egypt
- 9.2.5.9. Algeria
- 9.2.5.10. Morocco
- 9.2.5.11. Turkey
- 9.2.5.12. Rest of Middle East & Africa
10. Competitive Landscape
- 10.1. List of Key Players and Their offerings
- 10.2. Market Share Analysis, 2021
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Covid-19 on Global Battery Electrolyte Market
12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 12.1. Advanced Electrolyte Technologies
- 12.2. 3M
- 12.3. Umicore
- 12.4. Toray Industries Inc.
- 12.5. POSCO
- 12.6. Mitsubishi Chemical Holdings
- 12.7. Hitachi Chemical
- 12.8. American Elements
- 12.9. Gelest Inc.
- 12.10. Daikin America Inc.
- 12.11. Cermatec
- 12.12. BASF SE
- 12.13. Shenzhen Capchem Technology Co.
- 12.14. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
- 14.1. Qualitative Research
Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumption & Limitation
Note:
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1: Global Battery Electrolyte Market Segmentation
- Figure 2: Global Battery Electrolyte Market Industry Value Chain Analysis
- Figure 3: Global Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 4: Global Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 5: Global Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 6: Global Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 7: Global Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 8: Global Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 9: North America Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 10: North America Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 11: North America Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 12: North America Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 13: North America Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 14: North America Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 15: North America Battery Electrolyte Market Share (%), By Country, By Value, 2018-2028
- Figure 16: Europe Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 17: Europe Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 18: Europe Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 19: Europe Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 20: Europe Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 21: Europe Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 22: Europe Battery Electrolyte Market Share (%), By Country, By Value, 2018-2028
- Figure 23: The Asia-Pacific Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 24: The Asia-Pacific Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 25: The Asia-Pacific Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 26: The Asia-Pacific Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 27: The Asia-Pacific Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 28: The Asia-Pacific Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 29: The Asia-Pacific Battery Electrolyte Market Share (%), By Country, By Value, 2018-2028
- Figure 30: Latin America Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 31: Latin America Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 32: Latin America Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 33: Latin America Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 34: Latin America Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 35: Latin America Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 36: Latin America Battery Electrolyte Market Share (%), By Country, By Value, 2018-2028
- Figure 37: The Middle East & Africa Battery Electrolyte Market Size, By Value (USD Million), 2018-2028
- Figure 38: The Middle East & Africa Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Figure 39: The Middle East & Africa Battery Electrolyte Market Share (%), By Type of Battery, By Value, 2018-2028
- Figure 40: The Middle East & Africa Battery Electrolyte Market Share (%), By Type of Electrolyte, By Value, 2018-2028
- Figure 41: The Middle East & Africa Battery Electrolyte Market Share (%), By End User, By Value, 2018-2028
- Figure 42: The Middle East & Africa Battery Electrolyte Market Share (%), By Region, By Value, 2018-2028
- Figure 43: The Middle East & Africa Battery Electrolyte Market Share (%), By Country, By Value, 2018-2028
- Figure 44: Global Battery Electrolyte Market Share Analysis, 2021
List of Tables
- Table 1: Global Battery Electrolyte Market Size, By Type of Battery, By Value (USD Million), 2018-2028
- Table 2: Global Battery Electrolyte Market Size, By Type of Battery, By Volume (Million Units), 2018-2028
- Table 3: Global Battery Electrolyte Market Size, By Type of Electrolyte, By Value (USD Million), 2018-2028
- Table 4: Global Battery Electrolyte Market Size. By End User, By Value (USD Million), 2018-2028
- Table 5: Global Battery Electrolyte Market Size. By Region, By Value (USD Million), 2018-2028
- Table 6: North America Battery Electrolyte Market Size, By Type of Battery, By Value (USD Million), 2018-2028
- Table 7: North America Battery Electrolyte Market Size, By Volume (Million Units), 2018-2028
- Table 8: North America Battery Electrolyte Market Size, By Type of Electrolyte, By Value (USD Million), 2018-2028
- Table 9: North America Battery Electrolyte Market Size, By End User, By Value (USD Million), 2018-2028
- Table 10: North America Battery Electrolyte Market Size, By Region, By Value (USD Million), 2018-2028
- Table 11: Europe Battery Electrolyte Market Size, By Volume (Million Units), By Value 2018-2028
- Table 12: Europe Battery Electrolyte Market Size, By Type of Electrolyte, By Value (USD Million), By Value 2018-2028
- Table 13: Europe Battery Electrolyte Market Size (USD Million), By End User, By Value 2018-2028
- Table 14: Europe Battery Electrolyte Market Size (USD Million), By Region, By Value 2018-2028
- Table 15: Europe Battery Electrolyte Market Size (USD Million), By Country, By Value 2018-2028
- Table 16: The Asia-Pacific Battery Electrolyte Market Size, By Type of Battery, By Value (USD Million), By Value 2018-2028
- Table 17: The Asia-Pacific Battery Electrolyte Market Size, By Volume (Million Units), By Value 2018-2028
- Table 18: The Asia-Pacific Battery Electrolyte Market Size (USD Million), By Type of Electrolyte, By Value 2018-2028
- Table 19: The Asia-Pacific Battery Electrolyte Market Size (USD Million), By End User, By Value 2018-2028
- Table 20: The Asia-Pacific Battery Electrolyte Market Size (USD Million), By Region, By Value 2018-2028
- Table 21: The Asia-Pacific Battery Electrolyte Market Size (USD Million), By Country, By Value 2018-2028
Table 22: Latin America Battery Electrolyte Market Size, By Type of Battery, By Value (USD Million), By Value 2018-2028
- Table 23: Latin America Battery Electrolyte Market Size, By Type of Battery, By Volume (Million Units), By Value 2018-2028
- Table 24: Latin America Battery Electrolyte Market Size, By Type of Electrolyte, By Value (USD Million), 2018-2028
- Table 25: Latin America Battery Electrolyte Market Size (USD Million), By End User, By Value 2018-2028
- Table 26: Latin America Battery Electrolyte Market Size (USD Million), By Region, By Value 2018-2028
- Table 27: Latin America Battery Electrolyte Market Size (USD Million), By Country, By Value 2018-2028
- Table 28: The Middle East & Africa Battery Electrolyte Market Size, By Type of Battery, By Value (USD Million), 2018-2028
- Table 29: The Middle East & Africa Battery Electrolyte Market Size, By Type of Battery, By Volume (Million Units), 2018-2028
- Table 30: The Middle East & Africa Battery Electrolyte Market Size, By Type of Electrolyte, By Value (USD Million), 2018-2028
- Table 31: The Middle East & Africa Battery Electrolyte Market Size (USD Million), By End User, By Value 2018-2028
- Table 32: The Middle East & Africa Battery Electrolyte Market Size (USD Million), By Region, By Value 2018-2028
- Table 33: The Middle East & Africa Battery Electrolyte Market Size (USD Million), By Country, By Value 2018-2028
- Table 34: List of Key Players and Their offerings
- Table 35: Competitive Benchmarking, by Operating Parameters
- Table 36: Advanced Electrolyte Technologies Company Overview
- Table 37: Advanced Electrolyte Technologies Financial Overview
- Table 38: 3M Company Overview
- Table 39: 3M Financial Overview
- Table 40: UmicoreToray Industries Inc. Company Overview
- Table 41: UmicoreToray Industries Inc. Overview
- Table 42: POSCO Company Overview
- Table 43: POSCO Financial Overview
- Table 44: Mitsubishi Chemical Holdings Company Overview
- Table 45: Mitsubishi Chemical Holdings Financial Overview
- Table 46: Hitachi Chemical Company Overview
- Table 47: Hitachi Chemical Financial Overview
- Table 48: American Elements Company Overview
- Table 49: American Elements Financial Overview
- Table 50: Gelest Inc. Company Overview
- Table 51: Gelest Inc. Financial Overview
- Table 52: Daikin America Inc. Company Overview
- Table 53: Daikin America Inc. Financial Overview
- Table 54: Cermatec Company Overview
- Table 55: Cermatec Financial Overview
- Table 56: BASF SE
- Table 57: BASF SE
- Table 58: Shenzhen Capchem Technology Co.
- Table 59: Shenzhen Capchem Technology Co.
- Table 60: Other Prominent Players
