Orion Engineered Carbons (Luxembourg) and Cabot Corporation (US) are the Key Players in the Battery Additives Market

According to recent market research "Battery Additives Market by Type (Conductive Additive, Porous Additive, and Nucleating Additive), Application (Lead Acid and Li-ion), and Region (APAC, Europe, North America, South America, and the Middle East & Africa) - Global Forecast to 2023", The battery additives market is projected to grow from USD 1.2 billion in 2018 to USD 1.8 billion by 2023, at a CAGR of 9.0%. There is an increase in the demand for battery additives in Li-ion batteries in the consumer electronics application. Li-ion batteries are used in various consumer electronics applications such as smartphones, laptops, fitness bands, smartwatches, Bluetooth headsets, and handheld games. Li-ions are used in these devices as they are compact, small, offer high energy capacity, and can be easily fit into the device to be powered. Underdeveloped support infrastructure for EVs and stringent safety issues related to batteries are restraining the growth of the battery additives market.

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The battery additives market size is estimated at USD 1.2 billion in 2018 and is projected to reach USD 1.8 billion by 2023, at a CAGR of 9.0%. One of the major restraints of the battery additives market is the regulations and safety issues related to lead acid batteries. Lead has been recognized as hazardous, as they are highly toxic, and exposure to which can lead to adverse health effects. These effects include neurological damage, delayed mental and physical development, attention and learning deficiencies, and hearing problems.

Innovation and technology advancements in battery additives have led to various improvements in batteries in terms of higher power output and energy density, quick charging, more safety, and longer shelf life. Recently, Japan developed a transparent Li-ion battery that charges itself using sunlight, without using any solar cell. There are plans to integrate this battery as a smart window. On the exposure to sunlight, the battery becomes tinted and transmits 30% light. Currently, the battery offers an output of nearly 3.6 volts and has been successfully tested to complete 20 charges/discharge cycle. Therefore, manufacturers are investing in R&D of battery additives to attain the excellent properties of battery additives.

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The growth of the automotive and consumer electronics industries in developing countries and increasing investments in renewable energy are expected to drive the demand for battery additives during the forecast period. The key players in the battery additives market include Cabot Corporation (US), 3M (US), IMERYS (France), Orion Engineered Carbons (Luxembourg), Hammond Group (US), SGL Carbon (Germany), Borregaard (Norway), HOPAX (Taiwan), PENOX (Germany), and ALTANA (Germany). The battery additives market report analyzes the key growth strategies, such as expansion, new product launch, and acquisition, adopted by the leading market players between 2015 and 2019.

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Orion Engineered Carbons is among the key players in the battery additives market. The company has adopted the strategy of acquisition to strengthen its competitiveness in the global battery additives market. For instance, in November 2018, Orion Engineered Carbons acquired acetylene carbon black manufacturer Société du Noir d'Acétylène de l'Aubette, which was initially a part of LyondellBasell Industries Holdings B.V. This acquisition added acetylene carbon black to its product portfolio which is used in Li-ion batteries and high-end electrical cables manufacturing. This will strengthen the company's reach in the battery additives market in the US.

Cabot Corporation is one of the leading manufacturers of battery additives; the company has adopted new product launch as one of its key business strategies. For example, in February 2016 the company launched a new conductive additive, LITX 300, for Li-ion battery applications. This new additive is easy to disperse as well as incorporate in the Li-ion battery manufacturing process. It also improves conductivity, flexibility, and shelf life of Li-ion batteries. This strategy is expected to strengthen Cabot’s position in the battery additives business.

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