Press release
Battery Electrolyte Market Expecting Huge Demand in Upcoming Years 2024 - 2031 | Mitsubishi Chemical Corporation, BASF SE
Battery Electrolyte Market
Global battery electrolyte market is estimated to be valued at USD 11.79 Bn in 2024 and is expected to reach USD 26.22 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.
Market Dynamics:
The battery electrolyte market is witnessing high growth driven by increasing adoption of electric vehicles globally. Rising environmental concerns have boosted the sales of electric vehicles leading to higher demand for advanced lithium-ion batteries which in turn is propelling the battery electrolyte market growth. Further, growing demand for portable consumer electronics such as smartphones, tablets, and laptops owing to the digitalization trend is another factor fueling the battery electrolyte industry expansion over the forecast period.
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Battery Electrolyte Market Drivers, Restrains, Opportunities & Trends
Increasing Demand for Lithium-ion Batteries for Electric Vehicles
The demand for lithium-ion batteries is growing exponentially as their use in electric vehicles is rising. More and more automakers are launching electric vehicles each year to shift to cleaner energy. This increase in electric vehicle sales is directly boosting the demand for lithium-ion batteries which use electrolytes. According to various reports, electric vehicle sales are expected to grow over 25% each year till 2030. As the battery capacity requirements for electric vehicles are also increasing, battery electrolyte manufacturers are poised to benefit from this growing electric vehicle industry.
Growing Investments in Solid State Battery Technology
Research on next-generation solid state batteries is attracting substantial investments from companies and governments globally. Solid state batteries are safer than conventional lithium-ion batteries as they use solid electrolytes instead of flammable liquid electrolytes. They also promise higher energy density and faster charging. Many automobile and battery giants have announced multi-million dollar funding for solid state battery projects. Successful commercialization of solid state batteries can undermine the existing liquid electrolyte battery market in the long run. However, it also opens up an opportunity for electrolyte manufacturers to develop new solid electrolyte materials.
Advancements in Electrolyte Formulations
Continuous research and development is helping improve the performance of battery electrolytes. Electrolyte manufacturers are working on new formulations that can enhance properties like ionic conductivity, thermal stability, safety, and cycle life of batteries. Some areas witnessing progress include solid, quasi-solid and composite gel polymer electrolytes. Development of such advanced electrolytes enables higher energy density batteries and improved safety. The innovations in electrolyte chemistry will allow battery developers to make further gains, driving the growth of the overall electrolyte market.
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Top Companies Featured in This Report:
β Mitsubishi Chemical Corporation
β BASF SE
β Solvay SA
β LG Chem Ltd.
β UBE Industries Ltd.
β Sumitomo Chemical Co., Ltd.,
β Kogyo Corp.
β Shenzhen Capchem Technology Co., Ltd.,
β TOMIYAMA Pure Chemical Industries Ltd.
β Merck KGaA
β Targray Industries Inc.
β 3M Co.
β Advanced Electrolyte Technologies LLC
β Umicore
β Toray Industries Inc.
β POSCO
β Hitachi Chemical
β American Elements
β Gelest
β Inc
β Daikin America Inc.
Market Segmentation:
By Product Type:
β By Battery Type: Lithium-Ion, Lead Acid, Flow Battery, Nickel Metal, Others
β By Electrolyte Type: Liquid Electrolyte, Solid Electrolyte, Gel Electrolyte, Others
β By End User: Industrial, Transportation, Energy Storage, Consumer Electronic , Electric Vehicle Battery (EVs), Residential, Others
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
π What was the size of the Battery Electrolyte Market in 2024, and what is the projected value by 2031?
π What is the present global market landscape for the Battery Electrolyte Market?
π What strategies offer optimal opportunities for growth maximization in the business?
π What recent trends are shaping the Battery Electrolyte Market?
π How does the market share of Battery Electrolyte Market revenue, sales, and size vary across specific geographical regions?
π Who are the prominent industry players in the Battery Electrolyte Market?
π Which segment of the Battery Electrolyte Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Battery Electrolyte sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
π Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/6847
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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