Electrolyte for Secondary Lithium Ion Battery Market Set to Surge - Key Insights You Must Know

Electrolyte for Secondary Lithium Ion Battery Market Size

The global market for Electrolyte for Secondary Lithium Ion Battery was valued at US$ 292 million in the year 2024 and is projected to reach a revised size of US$ 516 million by 2031, growing at a CAGR of 8.6% during the forecast period.

Electrolytes for secondary lithium-ion batteries are electrolytes used in secondary lithium batteries that can be repeatedly charged and discharged. Depending on the formulation composition, the applications of secondary lithium electrolytes can be categorized into electrolytes for: 3C digital devices, electronic cigarette batteries, electric power tools, automotive power batteries and energy storage applications.

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China"s policy on lithium-ion batteries mainly focuses on lithium-ion batteries. In 2015, in order to strengthen the management of lithium-ion battery industry and improve the development level of the industry, China formulated the Standard of Lithium-ion Battery Industry. the global sales of new energy vehicles reached 10.8 million units in 2022, with a year-on-year increase of 61.6%. In 2022, China new energy vehicle sales reached 6.8 million units, and the global share increased to 63.6%. In Q4 2022, sales penetration rate of China"s new energy vehicle reached 27%, while the global average penetration rate was only 15%. Europe penetration was 19%, and North America penetration rate was only 6%. Lithium batteries will fully benefit from the high growth of downstream demand. According to the Ministry of Industry and Information Technology, China"s lithium-ion battery production reached 750 GWh in 2022, up more than 130 percent year on year. Among them, the output of lithium energy storage battery exceeded 100 GWh, and the total output value of the industry exceeded 1.2 trillion yuan. The industrial application of lithium battery was also growing rapidly. In 2022, the loading capacity of new energy vehicle power battery was about 295 GWh, and the new energy vehicle power battery was about 295 GWh. According to our research, in 2022, the overall global lithium-ion battery shipments were 957GWh, a year-on-year increase of 70%. Global vehicle power battery (EV LIB) shipments were 684GWh, a year-on-year increase of 84%; Energy storage battery (ESS LIB) shipments were 159.3GWh, a year-on-year increase of 140%.

The electrolyte for secondary lithium-ion batteries is a critical component experiencing a continual expansion in applications across mobile electronic devices, electric vehicles, and energy storage systems. The market size has been consistently growing, fostering the development of the associated supply chains. Sales of electrolytes have shown steady growth, with their specific uses in enhancing battery energy density, extending cycle life, and improving safety becoming increasingly prominent. Looking ahead, with the continuous advancement of electric vehicles and renewable energy storage, the electrolyte for secondary lithium-ion batteries is poised for further optimization in formulation, increased charge-discharge efficiency, cost reduction, and a heightened focus on environmentally sustainable practices to meet the ever-growing market demands.

By Type
• Liquid Electrolyte
• Solid Electrolyte

By Application
• 3C Digital Device
• Electric Power Tool
• New Energy Vehicle
• Large Energy Storage System

Key Companies
Guangzhou Tinci, Shenzhen Capchem Technology, Zhangjiagang Guotai Huarong New Chemical Materials, MU Ionic Solutions Corporation (MUIS), Central Glass, Mitsui Chemicals, Ningbo Shanshan, Tianjin Jinniu, GuangDong JinGuang High-Tech, Zhuhai Smoothway Electronic Materials, Dongwha Electrolyte

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