Battery Electrolyte Market by Battery Type and Geography - Forecast and Analysis 2020-2024

The global battery electrolyte market size has the potential to grow by USD 2.43 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by battery type (lead-acid batteries, Li-ion batteries, and other batteries) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 3M Co., BASF SE, Daikin Industries Ltd., GS Yuasa Corp., Johnson Controls International Plc, LG Chem Ltd., Mitsubishi Chemical Holdings Corp., OHARA Inc., Stella Chemifa Corp., and UBE Industries Ltd.

Market Overview

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Market Competitive Analysis

The battery electrolyte market is fragmented, and the degree of fragmentation will remain the same during the forecast period. To expand their geographical reach, the key players in the market are focusing on various growth strategies, including capacity expansions and commencement of new battery manufacturing plants. OHARA Inc., Stella Chemifa Corp., and UBE Industries Ltd. are some of the major market participants. Although the increasing adoption of consumer electronic gadgets will offer immense growth opportunities, the lack of infrastructure to charge EVs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this battery electrolyte market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this battery electrolyte market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading battery electrolyte companies, including:

• 3M Co.
• BASF SE
• Daikin Industries Ltd.
• GS Yuasa Corp.
• Johnson Controls International Plc
• LG Chem Ltd.
• Mitsubishi Chemical Holdings Corp.
• OHARA Inc.
• Stella Chemifa Corp.
• UBE Industries Ltd.

Battery Electrolyte Market: Segmentation by Region

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APAC was the largest battery electrolyte market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high demand for various batteries, such as lead-acid, Li-ion, nickel-cadmium, and nickel hydride batteries, from the automotive, consumer electronics, and power and energy industries, are some of the significant factors that will influence the market growth in APAC. Moreover, the rising demand for tablets and smartphones and the presence of favorable government initiatives will also significantly contribute to the growth of battery electrolyte market size in the region.

Over 45% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for battery electrolytes in APAC. Market growth in this region will be faster than the growth of the market in other geographies.

Battery Electrolyte Market: Segmentation by Battery Type

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Lead-acid batteries are the most common type of large-capacity rechargeable batteries. They are widely used in conventional automobiles, EVs, forklifts, and UPS. These are used to start the engines and lights of motor vehicles and in various other applications, such as communications devices, emergency lighting systems, and power tools owing to their low cost and reliability, established supply chain, and high performance.

However, market growth in this segment will be slower than the growth of the market in the Li-ion batteries segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the battery electrolyte market size.

Battery Electrolyte Market: Key Drivers and Trends

The advent of advanced technologies, such as IoT and cloud-based storage, has increased the sales of consumer electronic products. The demand for consumer electronic products, such as battery-powered audio and video systems, electronic accessories, multimedia players, digital media, and camcorders, has also increased. Moreover, the rising penetration of smart devices, such as smartphones, laptops, and tablets, will increase the demand for batteries. Furthermore, the advances in wireless mobile telecommunications technologies, including 3G and 4G, have increased the adoption of smart devices. The rising sales of smart devices and consumer electronic products will influence the growth of the global battery electrolyte market during the forecast period.

• Li-ion batteries are an efficient and effective source of power for portable consumer electronic appliances and devices because of their high energy density, flexibility, low weight, and long life.
• With advances in wearable technologies results in the widening of the applications in professional sports, healthcare, fashion, and others.
• Reliable batteries are essential for wearable devices, which generate precise and continuous records of vital data, thereby increasing the demand for Li-ion batteries.
• Battery electrolyte market trends, such as improvements in technology and innovation in product development, will improve the stability of the discharging and charging cycle of Li-ion batteries.
• During 2020-2024, the market will grow at a CAGR of almost 9%.

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Battery Electrolyte Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the battery electrolyte market growth during the next five years
• Precise estimation of the global battery electrolyte market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the battery electrolyte industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of battery electrolyte vendors 

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