Battery Electrolyte Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Battery Electrolyte Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • April 2022 •
  • 143 pages •
  • Report ID: 6269408 •
  • Format: PDF
The global battery electrolyte market reached a value of US$ 8.54 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 13.48 Billion by 2027, exhibiting a CAGR of 7.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Electrolytes are liquid or paste-like substances that transport positively charged ions between the cathode and anode terminals inside batteries to produce electricity. Their different chemical compounds find application depending on the type of battery. For instance, lead-acid batteries use sulfuric acid to create the intended reaction, while household alkaline batteries contain potassium hydroxide as electrolytes. Similarly, zinc-air batteries rely on oxidizing zinc with oxygen and lithium batteries have lithium salt solution, such as lithium hexafluorophosphate (LiPF6).

Battery Electrolyte Market Trends:
The emerging trend of high-end consumer electronics, such as smartphones, laptops, digital cameras, gaming consoles, and torches, represents one of the major factors driving the demand for electrolyte-based lithium-ion batteries worldwide. Moreover, the escalating demand for electric vehicles (EVs) on account of the growing focus on sustainable development and the awareness about the adverse effects of using petroleum-based automobiles is impelling the market growth. Additionally, governing agencies of numerous countries are offering subsidies and implementing favorable initiatives to promote the adoption of EVs, which, in turn, is contributing to market growth. Apart from this, increasing sales of vacuum cleaners due to sedentary lifestyles, hectic working schedules, inflating income levels, and rapid urbanization are driving the sales of battery electrolytes around the world. This can also be accredited to the growing popularity of smart homes and the rising demand for automated products that can perform household activities in a time-efficient manner. Furthermore, the application of battery electrolytes is expanding in the manufacturing of alkaline zinc–manganese oxide batteries. As a result, the escalating demand for these batteries in still digital cameras, portable liquid crystal televisions (TVs), shavers, office-use appliances, and game equipment is anticipated to drive the market.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global battery electrolyte market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on battery type, electrolyte type and end user.

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
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 Questions Answered in This Report:
How has the global battery electrolyte market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global battery electrolyte market?
What are the key regional markets?
What is the breakup of the market based on the battery type?
What is the breakup of the market based on the electrolyte type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global battery electrolyte market and who are the key players?
What is the degree of competition in the industry?