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Global Battery Electrolyte Market to reach USD 26.98 billion by the end of 2030

Global Battery Electrolyte Market Size Study & Forecast, By Battery Type (Lead Acid, Lithium-ion), by Electrolyte Type (Liquid Electrolyte, Solid Electrolyte, Gel Electrolyte), By End User (Electric Vehicle, Consumer Electronics, Energy Storage, Others) and Regional Analysis, 2023-2030

Product Code: CMAM-97908617
Publish Date: 20-10-2023
Page: 200

Global Battery Electrolyte Market is valued at approximately USD 7.63 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.1% over the forecast period 2023-2030. Battery electrolyte refers to the conductive solution or medium that facilitates the movement of ions between the electrodes in a battery. It is an essential part of many different kinds of batteries, including lead-acid and lithium-ion batteries. The performance, stability, and general effectiveness of the battery are fundamentally influenced by the electrolyte. Battery electrolyte is essentially a solution of water and sulfuric acid. An anode, cathode, and electrolyte are the three main parts of a battery. The Battery Electrolyte market is expanding because of factors such as the rising consumer acceptance of smart gadgets and other electronics, and rising interest in renewable energy storage.

In addition, the primary driver for the battery electrolyte industry is reportedly a rise in demand for electric vehicles as a means of reducing carbon footprint. The India Energy Storage Alliance (IESA) estimates that the Indian EV sector is expected to grow at a CAGR of 36%. Also, NITI Aayog anticipates that sales of electric cars would have reached 70% for all commercial vehicles, 30% for private automobiles, 40% for buses, and 80% for two- and three-wheelers by 2030. Moreover, as per the International Energy Agency (IEA), in 2020, the number of electric vehicles were sold in United States was 295000 and the number increased significantly and reached 631000 in 2021. As a result, the rising demand for the EVs is anticipated to propel the market growth. EVs experienced strong growth in the global market, which was aided by the government’s adoption of beneficial laws and initiatives. The primary factors influencing the growth of the battery electrolyte market are the quick expansion of the automotive sector, high demand from the battery replacement segment, and rising share of alternative energy sources in the energy mix. However, the industry’s growth is hampered by the lack of effective recycling methods for battery goods and by the inadequate infrastructure for charging, throughout the forecast period of 2023-2030.

The key regions considered for the Global Battery Electrolyte Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the factors such as increasing demand from numerous end-use sectors, including electric vehicles, energy storage, and portable consumer electronics. Additionally, the growing number of telecom towers, rising awareness of renewable energy production, increased demand for industrial storage, and declining solar energy costs, are the key factors that are driving up the demand. Latin America is expected to grow significantly during the forecast period, due to the expansion of the automotive industry in Brazil and Mexico as a result of the US-Mexico NAFTA. Also, increased electrification efforts in developing nations, as well as rising auto sales are the key factors that are contributing to the growth of the regional market during the estimated period.

Major market players included in this report are:
Advanced Electrolyte Technologies
Toray Industries Inc.
Pohang Iron and Steel Company (POSCO)
Mitsubishi Chemical Holdings
Hitachi Chemical
American Elements
Daikin America Inc.
Shenzhen Capchem Technology Co., Ltd
Ohara Corporation
Nohms Technologies Inc.
Recent Developments in the Market:
Ø In April 2021, Hitachi, Ltd. created an organic solid electrolyte with lower volatility and greater chemical resistance utilizing materials informatics technology, and successfully constructed a long-life LIB prototype utilizing this electrolyte.
Ø In November 2021, GS Yuasa International Ltd. released a new product that focused on improving the primary technology utilized in battery electrolytes. The company improved ionic conductivity and strengthened water resistance by creating solid electrolytes made of sulfides that contain nitrogen.
Ø In April 2020, Mitsubishi Chemical Corporation and UBE Industries, Ltd. announced that the companies create a joint venture firm through a joint incorporation-type split in order to handle the electrolyte business for lithium-ion rechargeable batteries. The aim of this initiative is to meeting the world’s rising demand for battery materials.
Global Battery Electrolyte Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Battery Type, Electrolyte Type, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Battery Type:
Lead Acid

By Electrolyte Type:
Liquid Electrolyte
Solid Electrolyte
Gel Electrolyte

By End User:
Electric Vehicle
Consumer Electronics
Energy Storage
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Battery Electrolyte Market, by region, 2020-2030 (USD Billion)
1.2.2. Battery Electrolyte Market, by Battery Type, 2020-2030 (USD Billion)
1.2.3. Battery Electrolyte Market, by Electrolyte Type, 2020-2030 (USD Billion)
1.2.4. Battery Electrolyte Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Battery Electrolyte Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Battery Electrolyte Market Dynamics
3.1. Battery Electrolyte Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising consumer acceptance of smart gadgets and other electronics Growing interest in renewable energy storage
3.1.2. Market Challenges Lack of effective recycling methods for battery goods Inadequate infrastructure for charging facility
3.1.3. Market Opportunities Increasing application in the automotive sector Rising demand from the battery replacement market
Chapter 4. Global Battery Electrolyte Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Battery Electrolyte Market, by Battery Type
5.1. Market Snapshot
5.2. Global Battery Electrolyte Market by Battery Type, Performance – Potential Analysis
5.3. Global Battery Electrolyte Market Estimates & Forecasts by Battery Type 2020-2030 (USD Billion)
5.4. Battery Electrolyte Market, Sub Segment Analysis
5.4.1. Lead Acid
5.4.2. Lithium-ion
Chapter 6. Global Battery Electrolyte Market, by Electrolyte Type
6.1. Market Snapshot
6.2. Global Battery Electrolyte Market by Electrolyte Type, Performance – Potential Analysis
6.3. Global Battery Electrolyte Market Estimates & Forecasts by Electrolyte Type 2020-2030 (USD Billion)
6.4. Battery Electrolyte Market, Sub Segment Analysis
6.4.1. Liquid Electrolyte
6.4.2. Solid Electrolyte
6.4.3. Gel Electrolyte
Chapter 7. Global Battery Electrolyte Market, by End User
7.1. Market Snapshot
7.2. Global Battery Electrolyte Market by End User, Performance – Potential Analysis
7.3. Global Battery Electrolyte Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Battery Electrolyte Market, Sub Segment Analysis
7.4.1. Electric Vehicle
7.4.2. Consumer Electronics
7.4.3. Energy Storage
7.4.4. Others
Chapter 8. Global Battery Electrolyte Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Battery Electrolyte Market, Regional Market Snapshot
8.4. North America Battery Electrolyte Market
8.4.1. U.S. Battery Electrolyte Market Battery Type breakdown estimates & forecasts, 2020-2030 Electrolyte Type breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Battery Electrolyte Market
8.5. Europe Battery Electrolyte Market Snapshot
8.5.1. U.K. Battery Electrolyte Market
8.5.2. Germany Battery Electrolyte Market
8.5.3. France Battery Electrolyte Market
8.5.4. Spain Battery Electrolyte Market
8.5.5. Italy Battery Electrolyte Market
8.5.6. Rest of Europe Battery Electrolyte Market
8.6. Asia-Pacific Battery Electrolyte Market Snapshot
8.6.1. China Battery Electrolyte Market
8.6.2. India Battery Electrolyte Market
8.6.3. Japan Battery Electrolyte Market
8.6.4. Australia Battery Electrolyte Market
8.6.5. South Korea Battery Electrolyte Market
8.6.6. Rest of Asia Pacific Battery Electrolyte Market
8.7. Latin America Battery Electrolyte Market Snapshot
8.7.1. Brazil Battery Electrolyte Market
8.7.2. Mexico Battery Electrolyte Market
8.8. Middle East & Africa Battery Electrolyte Market
8.8.1. Saudi Arabia Battery Electrolyte Market
8.8.2. South Africa Battery Electrolyte Market
8.8.3. Rest of Middle East & Africa Battery Electrolyte Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Advanced Electrolyte Technologies Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Toray Industries Inc.
9.3.3. Pohang Iron and Steel Company (POSCO)
9.3.4. Mitsubishi Chemical Holdings
9.3.5. Hitachi Chemical
9.3.6. American Elements
9.3.7. Daikin America Inc.
9.3.8. Shenzhen Capchem Technology Co., Ltd
9.3.9. Ohara Corporation
9.3.10. Nohms Technologies Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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