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Electrolyte is a solution that helps in the transfer of electrical charge from one electrode to the other in an electrolytic cell or a battery. The electrolytes can also be found in solid or in molten state. Electrolytic solutions are formed by combining water and any ionic compound, especially salts that dissociate into cations and anions, which actually act as a carrier of charge. Thus, an electrolyte is a primary constituent of a battery and is also responsible for its overall performance. Batteries have a wide array of applications in different electrical appliances as a source of energy including consumer electronics, automobile, aerospace, healthcare and others, among which the automobile and consumer electronics sectors are the major end-users.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Battery Type, Electrolyte Type, Industry Vertical, and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
Companies covered | Mitsubishi Chemical Corporation, Shenzhen Capchem Technology Co. Ltd., Johnson Controls, BASF SE, LG Chem, Ube Industries, Guangzhou Tinci Materials Technology Co. Ltd., GS Yuasa Corporation, Advanced Electrolyte Technologies and American Elements. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global battery electrolyte market.
The rapid technological advancement such as introduction of semi-solid lithium ion battery by Kyocera in January 2020 across the globe, and the increasing applications of electrical appliances and gadgets have played a major role in the growth of the battery electrolyte market. There are numerous applications of batteries in almost all the sectors of businesses. The lithium ion batteries are the most commonly used in almost all electrical gadgets such as mobile phones, laptops and others. There is also an extensive use of batteries and battery electrolytes in the automobile industry, since several features in an automobile work on the electrical energy provided by the battery. Moreover, the introduction of electric vehicles has also resulted in a massive increase in demand for batteries in the automobile industry. On the other hand, the increasing use of solar photovoltaic (PV) modules has also worked in favor of the global battery electrolyte market. The solar energy trapped in the PV panels is stored in the batteries for further uses. Growing environmental concerns have caused a noticeable shift of a significant portion of the consumers towards using renewable sources of energy such as solar energy, which has increased the demand for batteries in the market. However, the high cost of electric vehicles and the unavailability of recycling technologies for the materials used in the batteries might act as restraining factors for the market. Nonetheless, the massive investments in the lithium ion battery segment, especially in China is expected to boost the battery electrolyte market in the forecast period.
In terms of market share, the Asia-Pacific region is leading the global battery electrolyte market due to the presence of massive electronics sector in the region, especially in China. The market in the North America region is also expected to experience lucrative growth, owing to high demand for electronics and automobile in the developed nations such as the U.S. and also the increasing applications of renewable sources of energy in the developed nations of the region.
Key segments covered:
Segments | Sub-segments |
Battery Type | • Lead-acid • Lithium-ion • Nickel Metal • Others |
Electrolyte Type | • Sodium Chloride • Nitric Acid • Sulfuric Acid • Others |
Industry Vertical | • Industrial • Automobile • Energy Storage • Consumer Electronics • Others |
Key benefits of the report:
Key Market Segments
Key Market Players