Global Battery Electrolyte Market Report and Forecast 2024-2032

Global Battery Electrolyte Market Outlook

The global battery electrolyte market reached a value of nearly USD 6.21 billion in 2023. The market is further expected to witness a CAGR of 8.3% in the forecast period of 2024-2032 to reach an estimated value of USD 12.68 billion by 2032.            

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Asia Pacific is Expected to Grow at the Fastest Pace During the Forecast Period

The Asia Pacific led the global market for battery electrolyte in 2020 and is expected to maintain its supremacy in the coming years as well. End-use industries like electric vehicles, energy storage, and portable consumer electronics are the key demand generators within the regional market. Also, the Asia Pacific is likely to grow at a robust pace in the coming years due to the increasing number of electric vehicles on the road, which is a result of initiatives and targets set by various governments. China, which already accounts for more than 40% share of the world’s electric passenger cars, is likely to be a key growth engine for the region’s battery electrolyte industry.

Battery Electrolyte: Market Segmentation

A cell or a battery is composed of three essential components, namely anode, cathode, and an electrolyte. Electrolyte acts a catalyst by promoting the movement of ions between cathode and anode and makes a battery conductive. Generally, electrolytes are liquids, such as water/other solvents, that are dissolved with salts, acids, or alkalis, which are necessary for ionic conduction.  Electrolytes should have a strong ionic conductivity, should be non-reactive with electrode materials, and be safe in handling and resistant to fluctuations in temperature. Depending upon its extent to release ions, electrolytes can be categorised into strong and weak. Some of the commonly used electrolytes are sodium chloride, nitric acid, sulphuric acid, sodium acetate, and chloric acid.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The major battery types in the market are:

• Lead-Acid Battery
  • Liquid Electrolyte
  • Gel Electrolyte
• Lithium-Ion Battery
  • Liquid Electrolyte
  • Solid Electrolyte
• Flow Battery
  • Vanadium
  • Zinc Bromide
• Others

By end use, the market can be broadly segmented into:

• Electric Vehicle
• Energy Storage
• Consumer Electronics
• Others

The EMR report looks into the regional markets of battery electrolyte like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Increasing Demand of Batteries for Electric Vehicles and Consumer Electronics to Propel the Battery Electrolyte Industry

The electric vehicles market has gained huge traction over the past couple of years. Governments across the globe have taken multiple initiatives in order to promote manufacturing as well as sales of electric vehicles in their countries. The increasing adoption of electric vehicles is likely to create a big market for batteries and would ultimately provide good growth opportunities for the battery electrolyte manufacturers to prosper. Moreover, the cost of lithium-ion batteries has declined by more than 95% since the time of their introduction. Thus, the growing use of lithium-ion batteries in consumer electronics like laptops and smart phones is also anticipated to drive the battery electrolyte industry in the coming years.

Key Industry Players in the Global Battery Electrolyte Market

The report presents a detailed analysis of the following key players in the global battery electrolyte market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• BASF SE
• Guangzhou Tinci Materials Technology Co., Ltd
• Mitsubishi Chemical Corporation
• 3M Co.
• Ube Industries Ltd
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report