According to IMARC Group’s latest report, titled “Battery Electrolyte Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global battery electrolyte market reached a value of US$ 8.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.48 Billion by 2027, exhibiting a CAGR of 7.9% during 2022-2027.
A battery electrolyte is a substance present in batteries that acts as a chemical source for electricity production. It consists of soluble salts, acids, or bases in liquid, gel, or dry formats that allow the electric current to flow between the anode and the cathode on charge and in reverse on discharge. Electrolytes are also available in polymer, sodium chloride, sulphuric acid, and nitric acid forms generally used in solid ceramic, molten salts, and solid-state batteries. As a result, it is widely used in the industrial, transportation, energy storage, consumer electronics, automotive, and residential sectors.
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Global Battery Electrolyte Market Trends:
The global battery electrolyte market is primarily being driven by the increasing demand for electric vehicles (EVs) due to the growing environmental concerns among the masses. Additionally, the introduction of solid electrolyte interphase (SEI) layer on battery electrolytes that offers superior mechanical properties and electrical insulation and aids in preventing electrolyte decomposition is providing an impetus to market growth. Other factors, including the rising demand for high-end consumer electronics with better battery backups and extensive research and development (R&D) activities toward the launch of inexpensive batteries, are anticipated to drive the market toward growth.
Global Battery Electrolyte Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the battery electrolyte market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 3M Company
- American Elements
- BASF SE
- GS Yuasa International Ltd.
- Guangzhou Tinci Materials Technology Co. Ltd.
- Johnson Controls
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc.
- Shenzhen Capchem Technology Co. Ltd.
- Targray and Ube Industries Ltd.
Key Market Segmentation:
Breakup by Battery Type:
- Lead Acid
- Flow Battery
Breakup by Electrolyte Type:
- Liquid Electrolyte
- Solid Electrolyte
- Gel Electrolyte
- Sodium Chloride
- Nitric Acid
- Sulphuric Acid
Breakup by End User:
- Electric Vehicle
- Energy Storage
- Consumer Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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