Press release
Battery Electrolyte Market : Global Forecast over 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:
Growing concerns regarding environmental pollution caused by increasing vehicular emissions is expected to drive the growth of the biofuel market over the forecast period. Rising oil prices and limited reserves of fossil fuels have encouraged research and development of biofuels. Moreover, biofuels provide better air quality as their combustion results in lower levels of harmful emissions such as carbon monoxide, particulate matter, and hydrocarbons. Additionally, government subsidies and tax benefits on biofuels are encouraging their adoption. For instance, the U.S. government provides a tax credit of USD1 per gallon of ethanol blended gasoline to oil refiners, blenders, and marketers. These factors are expected to boost the growth of the biofuel market.
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Battery Electrolyte Market Drivers
Demand for Li-ion Batteries from Consumer Electronics and Automotive Industries is Driving the Growth of Battery Electrolyte Market
The growing demand for lithium-ion batteries from consumer electronics industry such as smartphones, laptops, and other handheld devices is a major factor boosting the growth of the global battery electrolyte market. Lithium-ion batteries are extensively used in consumer electronics owing to their advantages such as lightweight, high energy density, long shelf life, and minimal memory effect. The expanding consumer electronics industry globally has resulted in increased consumption of Li-ion batteries during the past few years. According to a research, the sales of consumer electronics are projected to reach over USD 2 trillion by 2022.
Growing Focus on Developing Advanced Battery Electrolytes with Improved Properties is Supporting Market Growth
Battery manufacturers and electrolyte suppliers are continuously focusing on developing advanced electrolytes with improved properties and performance to meet the evolving requirements of various battery applications. Electrolytes play a critical role in determining key battery characteristics such as energy density, power density, voltage, safety, and cycle life. Therefore, research efforts are underway to engineer battery electrolytes with features such as high conductivity, thermal stability, electrochemical stability, and environmental friendliness.
Battery Electrolyte Market Opportunity
Increased R&D in Specialty Battery Electrolytes for Energy Storage Applications Presents Growth Prospects
Beyond consumer electronics and electric mobility, battery electrolytes are also witnessing increasing demand from the rapidly growing energy storage sector comprising applications such as stationary energy storage systems and microgrids, residential solar+storage systems, and grid-connected electricity storage networks. These energy storage solutions require batteries that are not only reliable and safe but also suitable for large-scale stationary operations to enable effective energy management.
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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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