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Global Battery Electrolyte Market Size, Share, Forecast: By Battery Type: Lead-Acid Battery, Lithium-Ion Battery, Flow Battery, Others; By End Use: Electric Vehicle, Energy Storage, Consumer Electronics, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Battery Electrolyte Market Outlook
The global battery electrolyte market reached a value of nearly USD 6.21 billion in 2023. The market is further expected to witness a CAGR of 8.3% in the forecast period of 2024-2032 to reach an estimated value of USD 12.68 billion by 2032.
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The Asia Pacific is Expected to Grow at the Fastest Pace During the Forecast Period
The Asia Pacific led the global market for battery electrolyte in 2020 and is expected to maintain its supremacy in the coming years as well. End-use industries like electric vehicles, energy storage, and portable consumer electronics are the key demand generators within the regional market. Also, the Asia Pacific is likely to grow at a robust pace in the coming years due to the increasing number of electric vehicles on the road, which is a result of initiatives and targets set by various governments. China, which already accounts for more than 40% share of the world’s electric passenger cars, is likely to be a key growth engine for the region’s battery electrolyte industry.
Battery Electrolyte: Market Segmentation
A cell or a battery is composed of three essential components, namely anode, cathode, and an electrolyte. Electrolyte acts a catalyst by promoting the movement of ions between cathode and anode and makes a battery conductive. Generally, electrolytes are liquids, such as water/other solvents, that are dissolved with salts, acids, or alkalis, which are necessary for ionic conduction. Electrolytes should have a strong ionic conductivity, should be non-reactive with electrode materials, and be safe in handling and resistant to fluctuations in temperature. Depending upon its extent to release ions, electrolytes can be categorised into strong and weak. Some of the commonly used electrolytes are sodium chloride, nitric acid, sulphuric acid, sodium acetate, and chloric acid.
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The major battery types in the market are:
- Lead-Acid Battery
- Liquid Electrolyte
- Gel Electrolyte
- Lithium-Ion Battery
- Liquid Electrolyte
- Solid Electrolyte
- Flow Battery
- Vanadium
- Zinc Bromide
- Others
By end use, the market can be broadly segmented into:
- Electric Vehicle
- Energy Storage
- Consumer Electronics
- Others
The EMR report looks into the regional markets of battery electrolyte like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand of Batteries for Electric Vehicles and Consumer Electronics to Propel the Battery Electrolyte Industry
The electric vehicles market has gained huge traction over the past couple of years. Governments across the globe have taken multiple initiatives in order to promote manufacturing as well as sales of electric vehicles in their countries. The increasing adoption of electric vehicles is likely to create a big market for batteries and would ultimately provide good growth opportunities for the battery electrolyte manufacturers to prosper. Moreover, the cost of lithium-ion batteries has declined by more than 95% since the time of their introduction. Thus, the growing use of lithium-ion batteries in consumer electronics like laptops and smart phones is also anticipated to drive the battery electrolyte industry in the coming years.
Key Industry Players in the Global Battery Electrolyte Market
The report presents a detailed analysis of the following key players in the global battery electrolyte market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BASF SE
- Guangzhou Tinci Materials Technology Co., Ltd
- Mitsubishi Chemical Corporation
- 3M Co.
- Ube Industries Ltd
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Battery Type |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Battery Electrolyte Market Analysis
8.1 Key Industry Highlights
8.2 Global Battery Electrolyte Historical Market (2018-2023)
8.3 Global Battery Electrolyte Market Forecast (2024-2032)
8.4 Global Battery Electrolyte Market by Battery Type
8.4.1 Lead-Acid Battery
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by State of Electrolyte
8.4.1.3.1 Liquid Electrolyte
8.4.1.3.1.1 Historical Trend (2018-2023)
8.4.1.3.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Gel Electrolyte
8.4.1.3.2.1 Historical Trend (2018-2023)
8.4.1.3.2.2 Forecast Trend (2024-2032)
8.4.2 Lithium-Ion Battery
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by State of Electrolyte
8.4.2.3.1 Liquid Electrolyte
8.4.2.3.1.1 Historical Trend (2018-2023)
8.4.2.3.1.2 Forecast Trend (2024-2032)
8.4.2.3.2 Solid Electrolyte
8.4.2.3.2.1 Historical Trend (2018-2023)
8.4.2.3.2.2 Forecast Trend (2024-2032)
8.4.3 Flow Battery
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Breakup by State of Electrolyte
8.4.3.3.1 Vanadium
8.4.3.3.1.1 Historical Trend (2018-2023)
8.4.3.3.1.2 Forecast Trend (2024-2032)
8.4.3.3.2 Zinc Bromide
8.4.3.3.2.1 Historical Trend (2018-2023)
8.4.3.3.2.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Battery Electrolyte Market by End Use
8.5.1 Electric Vehicle
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Energy Storage
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Consumer Electronics
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Battery Electrolyte Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Battery Electrolyte Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Battery Electrolyte Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Battery Electrolyte Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Battery Electrolyte Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Battery Electrolyte Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Guangzhou Tinci Materials Technology Co., Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Mitsubishi Chemical Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 3M Co.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Ube Industries Ltd
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Battery Electrolyte Market: Key Industry Highlights, 2018 and 2032
2. Global Battery Electrolyte Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
3. Global Battery Electrolyte Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
4. Global Battery Electrolyte Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Battery Electrolyte Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Battery Electrolyte Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Battery Electrolyte Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Battery Electrolyte Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Battery Electrolyte Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Battery Electrolyte Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Battery Electrolyte Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Battery Electrolyte Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Battery Electrolyte Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Battery Electrolyte Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Battery Electrolyte Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Battery Electrolyte Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Battery Electrolyte Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Battery Electrolyte Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 6.21 billion.
The market is projected to grow at a CAGR of 8.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 12.68 billion by 2032.
The major drivers of the market are the increasing demand for energy storge in the various end-use sectors, the introduction of favourable government initiatives aimed at the increasing number of solar power projects, and technological advancements and innovations.
The increasing adoption of electric vehicles and the growing use of lithium-ion batteries in consumer electronics are the key trends propelling the market demand.
The major regions in the battery electrolyte market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various product types considered in the market report are lead-acid battery, lithium-ion battery, and flow battery, among others.
The several end uses of battery electrolyte are electric vehicle, energy storage, and consumer electronics, among others.
The key players in the market include BASF SE, Guangzhou Tinci Materials Technology Co., Ltd, Mitsubishi Chemical Corporation, 3M Co., and Ube Industries Ltd, among others.
Analyst Review
The global battery electrolyte market attained a value of nearly USD 6.21 billion in 2023, driven by the increasing adoption of electric vehicles and growing use of lithium-ion batteries in consumer electronics. Aided by the initiatives and targets set by various governments, and technological innovations, the market is expected to grow at a CAGR of 8.3% in the forecast period of 2024-2032 to attain a value of USD 12.68 billion by 2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the battery electrolyte industry can be segmented into lead-acid battery which includes liquid electrolyte and gel electrolyte, second is lithium-ion battery which includes liquid electrolyte and solid electrolyte, third is flow battery which includes vanadium and zinc bromide. The end uses of the market are electric vehicle, energy storage, and consumer electronics, among others. The major regional markets for battery electrolyte market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above market include BASF SE, Guangzhou Tinci Materials Technology Co., Ltd, Mitsubishi Chemical Corporation, 3M Co., and Ube Industries Ltd, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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