Battery Additives Market by Application and Geography - Forecast and Analysis 2021-2025

The battery additives market is projected to grow by USD 769.18 million with a CAGR of 12%, during the forecast period 2020 to 2025.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (lead-acid, lithium-ion, and others) and geography (APAC, North America, Europe, MEA, and South America).

The battery additives market report also offers information on several market vendors, including ALTANA AG, Battery Equaliser USA LLC, Borregaard ASA, Cabot Corp., Hammond Group Inc., Imerys, Orion Engineered Carbons SA, PENOX Group GmbH, SGL Carbon SE, and Taiwan Hopax Chemicals Mfg. Co. Ltd. among others.

ALTANA AG - The company offers BYK additives. Through the BYK segment, the company offers additives and instruments to the global coatings, inks, and plastics industries.

What will the Battery Additives Market Size be During the Forecast Period?

Get the Battery Additives Market Size Forecast by Downloading the Report Sample

Parent Market Analysis

Technavio categorizes the global battery additives market as a part of the global speciality chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Battery Additives Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The declining price of li-ion batteries is notably driving the market growth, although factors such as cell chemistry failures may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Battery Additives Market Driver

• One of the key factors driving growth in the market is the declining price of Li-ion batteries.
• Li-ion batteries offer advantages such as higher current density and longer power-holding capacity and shelf life than other batteries. Such benefits drive the popularity of Li-ion batteries among end-users. Other than performance, the cost is a critical differentiating factor between Li-ion and other batteries. Li-ion batteries cost comparatively higher than lead-acid or NiMH batteries. However, the manufacturing expense of Li-ion batteries and the cost of battery packs have decreased substantially in the past few years, owing to improvements in the production scale and manufacturing efficiency of vendors.
• The decline in the cost of Li-ion batteries is expected to continue during the forecast period owing to the plunge in the price of battery-grade lithium carbonate and lithium hydroxide.

Key Battery Additives Market Challenge

• Cell chemistry failures will be a major challenge for the market during the forecast period.
• The failure in cell chemistry can adversely impact the performance of batteries. Certain cathode materials in the battery cells allow higher energy densities than others. The cells that are produced through such high energy densities are more prone to severe thermal runaway reactions.
• Although some of the researchers have reported effective retardants or non-flammable electrolytes, these have not become commercialized because of various concerns such as elevated toxicity hazards, poor performance, and poor cell lifetime. These factors are expected to hinder the growth of the market during the forecast period. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Battery Additives Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the battery additives market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Battery Additives Market?

Get a glance at the market share of various regions Requesting a PDF Sample now!

64% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for battery additives in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The market in APAC will grow at a rapid rate during the forecast period owing to the rise in the adoption of EVs and an increase in the demand for ESSs in utility and motive applications. In APAC, countries such as India, China, Indonesia, Malaysia, the Philippines, and Vietnam are expected to register strong annual growth in nominal disposable personal income. This will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Application Segment in the Battery Additives Market?

To gain insights on the market contribution of various segments Request a PDF Sample

The market share growth by the lead-acid segment will be significant during the forecast period. The segment is growing owing to the increase in industrial and construction activities across the world. The increase in the use of lead-acid batteries in motive applications such as forklifts and locomotives, as well as stationary applications, including UPS systems and energy storage, in renewable energy systems will drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment. 

Request PDF sample

What are the Key Data Covered in this Battery Additives Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the market industry across APAC, North America, Europe, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch