Dublin, June 28, 2018 (GLOBE NEWSWIRE) -- The "Battery Electrolyte Market by Battery Type and State of Electrolyte [Lead-acid (Liquid Electrolyte, and Gel Electrolyte), Lithium-ion (Liquid Electrolyte)], and Region(APAC, North America, Europe, South America, and MEA)- Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The battery electrolyte market is projected to grow from USD 4.2 billion in 2018 to USD 6.18 billion by 2023, at a CAGR of 8.1% from 2018 to 2023.
Increasing adoption of EV to reduce the carbon footprint, rapid increase in automotive sales, high demand from replacement market of batteries, and increasing share of alternative energy sources in the energy mix are the key factors driving the growth of the battery electrolyte market.
Stringent environmental regulations in Europe are expected to keep demand for lead-acid batteries low. However, this region is witnessing increasing demand for EVs which is expected to provide growth opportunities to the battery electrolyte market.
The lithium-ion battery electrolyte type segment of the battery electrolyte market is projected to grow at a higher CAGR during the forecast period. Increasing adoption of EVs and the Electric Vehicles Initiative (EVI) are expected to accelerate the adoption of electric vehicles worldwide. This is expected to keep the demand for lithium-ion battery electrolyte high during the forecast period. The Asia Pacific region is estimated to account for the largest share of the battery electrolyte market in 2018. The region is home to leading battery manufacturers globally. Some of the leading lithium-ion battery manufacturers, including Panasonic, LG Chem, Samsung SDI, CATL, and BYD are based in APAC. Increased investments by the lithium-ion battery electrolyte manufacturers is expected to fuel the growth of the Asia Pacific battery electrolyte market between 2018 and 2023.
Mitsubishi Chemical Corporation (Japan), Ube Industries (Japan), Shenzhen Capchem Technology Co., Ltd. (China), Johnson Controls (US), Guangzhou Tinci Materials Technology Co., Ltd. (China), GS Yuasa Corporation (Japan), 3M (US), BASF SE (Germany), LG Chem (South Korea), and American Elements (US) are among the leading players operating in the battery electrolyte market. These companies have adopted various strategies such as expansions, acquisitions, and joint ventures to meet the growing demand for battery electrolyte as well as increase their market presence.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.3.1 Years Considered for the Study 1.4 Currency 1.5 Stakeholders 1.6 Limitations 2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Key Data From Secondary Sources 2.1.2 Primary Data 2.1.2.1 Key Data From Primary Sources 2.1.2.2 Key Industry Insights 2.1.2.3 Breakdown of Primary Interviews 2.2 Market Size Estimation 2.3 Data Triangulation 2.4 Assumptions 3 Executive Summary 3.1 Introduction 4 Premium Insights 4.1 Attractive Opportunities for Players in the Battery Electrolyte Market 4.2 Battery Electrolyte Market, By Battery Type and Its State of Electrolyte 4.3 Battery Electrolyte Market, By Region 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Growing Demand for Electric Vehicles 5.2.1.2 Increasing Awareness About Renewable Energy Storage 5.2.1.3 Increasing Adoption of Consumer Electronics 5.2.2 Restraints 5.2.2.1 High Cost of Electric Vehicles as Compared to Conventional Crude Vehicles 5.2.2.2 Lack of Efficient Recycling Technologies for Battery Materials 5.2.3 Opportunities 5.2.3.1 Increasing Research Activities to Develop New Electrolytes 5.2.3.2 Rise in Local Electrolyte Manufacturers for Lead and Lithium-Ion Batteries in APAC 5.2.4 Challenges 5.2.4.1 Lack of Government Subsidies and Incentives for Lithium-Ion Battery Manufacturers in Emerging Markets 5.3 Porter's Five Forces Analysis 5.3.1 Threat of New Entrants 5.3.2 Threat of Substitutes 5.3.3 Bargaining Power of Suppliers 5.3.4 Bargaining Power of Buyers 5.3.5 Intensity of Competitive Rivalry 5.4 Economic Indicators 5.4.1 Industry Outlook 5.4.1.1 Electric Vehicles (Evs) 5.4.1.2 Electricity Storage 6 Battery Electrolyte Market, By Battery Type and Its State of Electrolyte 6.1 Introduction 6.2 Lead-Acid Battery 6.2.1 Liquid Electrolyte 6.2.2 Gel Electrolyte 6.3 Lithium-Ion Battery 6.3.1 Liquid Electrolyte 6.3.2 Solid Electrolyte 7 Battery Electrolyte Market, By Region 7.1 Introduction 7.2 Asia Pacific 7.2.1 China 7.2.2 India 7.2.3 Japan 7.2.4 South Korea 7.2.5 Rest of Asia Pacific 7.3 Europe 7.3.1 Germany 7.3.2 France 7.3.3 UK 7.3.4 Netherlands 7.3.5 Italy 7.3.6 Rest of Europe 7.4 North America 7.4.1 US 7.4.2 Canada 7.4.3 Mexico 7.5 Middle East & Africa 7.5.1 Saudi Arabia 7.5.2 Israel 7.5.3 UAE 7.5.4 Rest of Middle East & Africa 7.6 South America 7.6.1 Brazil 7.6.2 Argentina 7.6.3 Rest of South America 8 Competitive Landscape 8.1 Overview 8.2 Market Ranking of Key Players 8.3 Competitive Scenario 8.3.1 Expansions 8.3.2 Acquisitions 8.3.3 Joint Ventures 9 Company Profiles 9.1 Mitsubishi Chemicals Corporation 9.2 UBE Industries 9.3 Shenzhen Capchem Technology Co., Ltd. 9.4 Johnson Controls 9.5 Guangzhou Tinci Materials Technology Co., Ltd. 9.6 GS Yuasa 9.7 3M 9.8 BASF SE 9.9 LG Chem 9.10 American Elements 9.11 Other Key Players 9.11.1 Tokyo Chemical Industry (TCI) 9.11.2 Toshima Manufacturing Co. Ltd. 9.11.3 Advanced Electrolyte Technologies LLC 9.11.4 Soulbrain Mi 9.11.5 Gelest, Inc. 9.11.6 Targray 9.11.7 Ceramtec 9.11.8 Ohara Corporation 9.11.9 Daikin America 9.11.10 Nohms Technologies 9.11.11 Panax Etec 9.11.12 Stella Chemifa Corporation 9.11.13 Guangdong Jinguang High-Tech Co., Ltd. 9.11.14 Zhangjiagang Guotai Huarong Chemical New Material Co., Ltd. 9.11.15 Tomiyama Pure Chemical Industries
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