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Global Battery Electrolyte Market size was valued at US$ 3.7 Bn in 2017 and is expected to reach US$ 7.0 Bn by 2026 to exhibit a CAGR of 8.3 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global battery electrolyte market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global battery electrolyte market.
An electrode is an electrical conductor used to create contact with a nonmetallic part of a circuit. Electrodes are usually made of metals like platinum and zinc. As great conductors of current, they are found in electrical devices such as batteries and electrolytic cells. In a lithium-ion battery, high purity electrolytes are a core component. Electrolytes are necessary to have high ionic conductivity, negligible electronic conductivity, and superior chemical & electrochemical stability.
Rising demand for electric vehicles, growing awareness about renewable energy storage, and increasing acceptance of consumer electronics are boosting the growth of the market. Growth in the demand for smart devices and other consumer electronics are also propelling the growth of the market. Rising research activities to develop new electrolytes and growth in local electrolyte manufacturers for lead & lithium-ion batteries in the Asia Pacific region are key opportunities of the market. However, the dearth of government subsidies & incentives for lithium-ion battery manufacturers in emerging markets is the major challenge of the market. Insufficient charging infrastructure is limiting the growth of the market.
The lithium-ion battery electrolyte type segment is projected to grow at a higher CAGR in the global battery electrolyte market during the forecast period, owing to the growing adoption of electric vehicle battery (Evs) and the electric vehicles initiative (EVI). Lead acid batteries are highly inefficient for both charge & discharge and a fast voltage drop during discharge that decreases the total capacity of the battery. Lithium-ion batteries nearly solve the efficiency issue and the lithium-ion solar battery achieve almost a 100% discharge while utilizing a lead-based battery, you'll see it never releases over 80%. Lithium-ion batteries are one-third the weight of lead-acid batteries, and in terms of voltage, they maintain their voltage throughout the entire discharge cycle. Lithium-ion batteries are cleaner technology and are safer for the environment.
Solid-state electrolytes are the next-generation safer alternative in the lithium-ion battery because it prevents the dendrites formation and avoids short circuits. Solid electrolyte has a longer life cycle as compared to liquid electrolyte. The solid electrolyte is safer to use as risks such as spilling, boiling, and gassing does not exist. Solid-state batteries are expected to gain adoption mainly in automotive and energy storage applications.
Asia Pacific region is expected to the largest market for battery electrolyte in the world. The market for battery electrolyte is increasing owing to the increased demand from various end-use industries, such as electric vehicle battery (Evs), energy storage, and portable consumer electronics. The demand for battery electrolyte is also rising in the Asia Pacific region, due to the growing number of telecom towers, increasing alertness on clean energy generation. Rising electrification drive in developing countries, increasing automobiles sales, and growing demand for industrial storage & dropping solar energy prices, etc. are expected to drive the battery electrolyte in the world during the forecast period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The Scope of Global Battery Electrolyte Market
Global Battery Electrolyte Market, By Electrolyte Type
• Liquid Electrolyte
• Solid Electrolyte
• Gel Electrolyte
Global Battery Electrolyte Market, By Battery Type
Global Battery Electrolyte Market, By End-Users
• Electric Vehicle Battery (EVs)
• Portable Devices
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