Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Global Battery Electrolyte Market by Battery Type (Lead-Acid and Lithium-Ion), Electrolyte Type (Liquid, Gel, Solid), End-Use (EV, Consumer Electronics, Energy Storage) and Region (APAC, North America, Europe, South America, and MEA) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The market size of battery electrolyte is estimated to grow from USD 7.6 billion in 2022 to USD 16.8 billion by 2027, at a CAGR of 17.1% during the forecast period. The battery electrolyte market is expected to grow at a moderate rate over the next five years, owing to rapid technological advancements and expansion in the energy storage and electric vehicle industry.
Energy storage is the fastest growing segment of battery electrolyte market by end-use
The battery electrolyte market by end-use is segmented into electric vehicle, comsumer electronics, energy storage and others. The energy storage segment is estimated to grow at the fastest rate owing to the increase in demand for batteries in energy storage industry. There are various initiatives taken by government of different countries such as India and China to enhance the demand for energy storage. This will propel the demand for batteries, creating the market for battery electrolyte.
By electrolyte type, liquid electrolyte segment is expected to account for the largest market share during the forecast period
By electrolyte type, liquid electrolyte segment accounted for the largest segment in the battery electrolyte market, in 2021, in terms of value. Liquid electrolyte is used in lead acid as well as lithium-ion batteries. These batteries are generally used in energy storage and electric vehicles. Owining to increasing demand for electric vehicles and energy storage systems, the liquid battery electrolyte market is expected to have the largest market share during the forecasted period.
Asia Pacific has largest market share region for battery electrolyte market in 2021
Asia Pacific is one of the major market for battery electrolyte, in terms of value. The region accounted for the largest market for battery electrolyte in 2021, and this dominance is expected to continue during the forecast period as well. Key countries in the Asia Pacific battery electrolyte market include China, Japan, South Korea, and India, which dominated the region's overall market in terms of value in 2021. The growing demand for electric vehicles, and consumer electronics in emerging countries of Asia Pacific are expected to drive the growth of the battery electrolyte market in the region.
Premium Insights
- Battery Electrolyte Market to Witness Moderate Growth During Forecast Period
- Asia-Pacific to Account for Largest Share of Battery Electrolyte Market During Forecast Period
- Lead-Acid Battery Accounted for Larger Market Share in 2021
- Liquid Electrolyte Accounted for Larger Market Share in 2021
- Electric Vehicles Segment Accounted for Largest Market Share in 2021
Market Dynamics
Drivers
- Growth in Demand for Batteries in Key Industries
- Growing Need for Battery-Operated Material-Handling Equipment in Industries due to Automation
Restraints
- Lack of Efficient Recycling Technologies for Battery Materials
Opportunities
- Increasing Research Activities to Develop New Electrolytes
Challenges
- Lack of Government Subsidies and Incentives for Lithium-Ion Battery Manufacturers in Emerging Markets
- Safety Related to Battery Usage
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Battery Electrolyte Patent Analysis
7 Battery Electrolyte Market, by Battery Type
8 Battery Electrolyte Market, by Electrolyte Type
9 Battery Electrolyte Market, by End Use
10 Battery Electrolyte Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- 3M
- American Elements
- Basf Corporation
- Capchem
- Daikin America, Inc.
- Enchem Co., Ltd.
- Gs Yuasa International Ltd.
- Guangdong Jinguang High-Tech Co., Ltd.
- Guangzhou Tinci Materials Technology Co., Ltd.
- Hitachi, Ltd.
- Hopax
- Lg Chem
- Mitsubishi Chemical Corporation
- Morita Chemical Industries Co., Ltd.
- Nei Corporation
- Nohms Technologies, Inc.
- Ohara Inc.
- Shanshan Co., Ltd.
- Stella Chemifa Corporation
- Tokyo Chemical Industry Co., Ltd.
- Ube Corporation
- Zhangjiagang Guotai Huarong New Chemical Materials Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/njohht
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