Market Research Report
Battery Electrolyte - Global Market Outlook (2017-2026)
|Battery Electrolyte - Global Market Outlook (2017-2026)|
Published: June 1, 2018
Stratistics Market Research Consulting
Content info: 159 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Battery Electrolyte Market is accounted for $3.82 billion in 2017 and expected to grow at a CAGR of 9.3% to reach $8.53 billion by 2026. Rising adoption for smart devices & other consumer electronics, increasing demand for electric vehicle battery (EV) and increasing awareness for renewable energy storage are propelling the market growth. Lack of effective recycling technologies for battery materials and the insufficient charging infrastructure are hindering the market growth. The increasing research activities to develop new electrolytes and the rise in local electrolyte manufacturers in the emerging nations provide opportunities to the market.
A battery is known as a product which can pile up the electrical energy in the form of chemical energy and then transfer into electricity. It involves three major components that are anode, cathode and electrolyte. Electrolyte of a battery is consists of soluble salts, acids or other bases in liquid, gelled and or in dry formats which helps in the better performance of the battery by the transportation of the electrical charge between the anode and cathode.
Based on electrolyte, sulphuric acid having the H2SO4 as its molecular formula which is a diprotic acid, it posses diverse properties depending upon its concentration and it's high corrosion. It has the largest productivity of any chemical in the world with properties such as pungent-ethereal, colorless to slightly yellow viscous liquid which has great water solubility at all concentrations. As it is considered as the strongest acid with a variety of properties, it is primarily used as the electrolyte in the lead acid storage battery.
By battery type, the lithium-ion battery is driven by the increased production of lithium-ion battery for electric vehicles. The electric vehicles initiative (EVI) is a multi-government policy to accelerate the adoption of electric vehicles worldwide. Li-ion battery is a type of rechargeable battery in which lithium ions move from the negative electrode to the positive electrode during discharge and back when charging. Li-ion batteries use an intercalated lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery. The electrolyte, which allows for ionic movement, and the two electrodes are the constituent components of a lithium-ion battery cell.
Asia Pacific is expected to grow at a better pace for battery electrolyte market throughout the forecast period. The market for electrolyte is boosting due to the rising demand from various end-use industries, such as electric vehicles, energy storage, and portable consumer electronics. The demand is also triggered by the increasing number of telecom towers, rising awareness on clean energy generation, rising command for industrial storage, rising electrification drive in developing countries, increasing automobiles sales, falling solar energy costs, etc.
Some of the key players in the Battery Electrolyte Market include Advanced Electrolyte Technologies, LLC, 3M, Umicore, Toray, POSCO, Mitsubishi Chemical Holdings, Hitachi Chemical, American Elements, Gelest, Inc, Daikin America, Ceramtec, BASF SE, Shenzhen Capchem Technology Co., Ltd, Ohara Corporation and Nohms Technologies.
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