DUBLIN--(BUSINESS WIRE)--Jun 6, 2018--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.

Market Dynamics

Drivers

Growing Demand for Electric Vehicles Increasing Awareness About Renewable Energy Storage Increasing Adoption of Consumer Electronics

Restraints

High Cost of Electric Vehicles as Compared to Conventional Crude Vehicles Lack of Efficient Recycling Technologies for Battery Materials

Opportunities

Increasing Research Activities to Develop New Electrolytes Rise in Local Electrolyte Manufacturers for Lead and Lithium-Ion Batteries in APAC

Challenges

Lack of Government Subsidies and Incentives for Lithium-Ion Battery Manufacturers in Emerging Markets

Major Players

3M Advanced Electrolyte Technologies LLC American Elements BASF SE Ceramtec Daikin America Gelest Inc. GS Yuasa Guangdong Jinguang High-Tech Co. Ltd. Guangzhou Tinci Materials Technology Co. Ltd. Johnson Controls LG Chem Mitsubishi Chemicals Corporation Nohms Technologies Ohara Corporation

Other Key Players

Panax Etec Shenzhen Capchem Technology Co. Ltd. Soulbrain Mi Stella Chemifa Corporation Targray Tokyo Chemical Industry (TCI) Tomiyama Pure Chemical Industries Toshima Manufacturing Co. Ltd. UBE Industries Zhangjiagang Guotai Huarong Chemical New Material Co. Ltd.

Key Topics Covered 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Battery Electrolyte Market, By Battery Type and Its State of Electrolyte 7 Battery Electrolyte Market, By Region 8 Competitive Landscape 9 Company Profiles For more information about this report visit https://www.researchandmarkets.com/research/tvwfzr/global_battery?w=4

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Related Topics:Battery Technology

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INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR

SOURCE: Research and Markets

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PUB: 06/06/2018 08:36 AM/DISC: 06/06/2018 08:36 AM

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