BATTERY ELECTROLYTE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global battery electrolyte market is estimated to be valued at USD 11.79 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.Global battery electrolyte market has been witnessing significant growth over the past few years. Battery electrolyte refers to the medium that allows the flow of electrical current between the cathode and anode of a battery. It plays a crucial role in determining characteristics like conductivity, shelf-life and safety of the battery. Key factors driving the market growth include growing adoption of electric vehicles that require advanced lithium-ion batteries. Moreover, increasing demand for battery backups across various end-use industries like consumer electronics, automotive and energy storage is driving the global battery electrolyte market growth. With technological advancements, various new types of electrolytes like solid-state, polymer and gel electrolytes are being developed to improve performance and safety of batteries. Global battery electrolyte market is expected to witness growth substantially in the near future.

 Market Dynamics:

Global battery electrolyte market is projected to witness growth at a steady pace during the forecast period. Rising demand for electric vehicles around the world has emerged as a key growth driver. According to various estimates, electric car sales are expected to grow over 25% annually till 2030. However, high raw material costs of lithium, fluctuations in crude oil prices and availability of substitutes like capacitors are expected to restrain the market growth. Increasing R&D in the field of solid-state batteries presents lucrative opportunities.

 Key Features of the Study:

• This report provides in-depth analysis of the global battery electrolyte market, and provides market size (US$ Bn & KT) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global battery electrolyte market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Mitsubishi Chemical Corporation, BASF SE, Solvay SA, LG Chem Ltd., UBE Industries Ltd., Sumitomo Chemical Co., Ltd., Toda Kogyo Corp., Shenzhen Capchem Technology Co., Ltd., TOMIYAMA Pure Chemical Industries, Ltd., Merck KGaA, Targray Industries Inc., 3M Co., Advanced Electrolyte Technologies, LLC, Umicore, Toray Industries Inc., POSCO, Hitachi Chemical, American Elements, Gelest, Inc, and Daikin America Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global battery electrolyte market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global battery electrolyte market.

Market Segmentation

• Battery Type:
  • Lithium-Ion
  • Lead Acid
  • Flow Battery
  • Nickel Metal
  • Others
• Electrolyte Type:
  • Liquid Electrolyte
  • Solid Electrolyte
  • Gel Electrolyte
  • Others
• End User:
  • Industrial
  • Transportation
  • Energy Storage
  • Consumer Electronics
  • Electric Vehicle Battery (EVs)
  • Residential
  • Others
• Regional:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Mitsubishi Chemical Corporation
  • BASF SE
  • Solvay SA
  • LG Chem Ltd.
  • UBE Industries Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Toda Kogyo Corp.
  • Shenzhen Capchem Technology Co., Ltd.
  • TOMIYAMA Pure Chemical Industries, Ltd.
  • Merck KGaA
  • Targray Industries Inc.
  • 3M Co.
  • Advanced Electrolyte Technologies, LLC
  • Umicore
  • Toray Industries Inc.
  • POSCO
  • Hitachi Chemical
  • American Elements
  • Gelest, Inc
  • Daikin America Inc.