1. Home
  2. Chemical Material
  3. Battery Electrolyte Market

Battery Electrolyte Market

Battery Electrolyte Market Size, Share & Industry Analysis, By Type (Liquid Electrolyte, Solid Electrolyte, Gel Electrolyte), By Battery Type (Lead-Acid, Lithium-Ion, Nickel-Based, Others), By End-User (Automotive, Industrial, Consumer Electronics, Aerospace & Defense, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) -- Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Code: CHE00686
Report Format: PDF + PPT + Excel
Download PDF Buy Now
Report Description

Market Overview

The global battery electrolyte market is expected to grow at a CAGR of XX% during the forecast period (2024-2031), reaching a market value of USD XX million by 2024 and USD YY million by 2031. Asia-Pacific is projected to be the dominant region in the market. The growth of the battery electrolyte market is driven by the increasing demand for electric vehicles, grid energy storage systems, and portable electronics.

 

Market Dynamics

Growing adoption of electric vehicles fueling demand for advanced battery electrolytes The rapid growth of the electric car sector is a primary factor driving demand for high-performance battery electrolytes. Automakers are making significant investments in creating long-range, fast-charging electric vehicles, which necessitate new electrolyte compositions to improve battery performance, safety, and durability. The growing use of electric vehicles in passenger cars, commercial vehicles, and two-wheelers is likely to drive the growth of the battery electrolyte market throughout the forecast period.

 

Increasing demand for energy storage systems supporting renewable energy integration The growing use of renewable energy sources, such as solar and wind power, is increasing the demand for large-scale energy storage systems to balance their intermittent nature. Battery energy storage devices are critical for storing excess renewable energy during off-peak hours while still providing power during peak demand periods. The increased use of grid-scale and domestic energy storage systems is predicted to increase demand for innovative battery electrolytes that provide high energy density, long cycle life, and safe operation.

 

Safety concerns and regulatory challenges hindering market growth The battery The electrolyte market is constrained due to safety concerns connected with specific electrolyte chemistries, particularly in lithium-ion batteries. Incidents of battery fires and explosions have prompted concerns about electrolyte safety and compatibility with electrode materials. Governments and regulatory agencies enforce stringent safety standards and testing requirements, which can delay the commercialisation of innovative electrolyte compositions and raise the cost of battery research. Addressing safety concerns through enhanced electrolyte designs and materials is critical to the long-term success of the battery electrolyte market.

 

Segment Overview

Lithium-ion batteries dominate the market, driven by electric vehicles and consumer electronics

The lithium-ion battery sector dominates the battery electrolyte industry. Lithium-ion batteries are commonly used in electric vehicles, portable gadgets, and energy storage systems because of their high energy density, long cycle life, and low self-discharge rate. The growing use of lithium-ion batteries in various applications raises the need for new electrolyte formulations that improve performance, safety, and fast-charging capabilities. Recent advances in lithium-ion battery electrolytes include the creation of solid-state electrolytes, which provide greater safety and energy density than liquid electrolytes.

 

Regional Outlook

Asia-Pacific leads the battery electrolyte market, driven by EV adoption and manufacturing

Asia-Pacific dominates the battery electrolyte market, with the biggest share in terms of volume and value. The region's growth is being driven by the growing adoption of electric vehicles, particularly in China, the world's largest EV market. The presence of major battery manufacturers and automobile OEMs in China, Japan, and South Korea contributes to the growth of Asia-Pacific's battery electrolyte market. Governments in the area are introducing favourable regulations and incentives to encourage EV adoption and battery manufacture, fostering the growth of the battery electrolyte market.

Recent news and statistics demonstrate the region's dominance:

  • China's electric car sales increased by 154% in 2021, reaching 3.3 million units (source: China Association of Automobile Manufacturers)

  • Panasonic Corporation, a leading battery manufacturer, wants to invest $4.9 billion in vehicle batteries to serve global automakers (source: Nikkei Asia)

Country-specific developments highlight Asia-Pacific's dominance in the battery electrolyte market:

  • LG Chem plans to build a 60,000-ton electrolyte plant to accommodate demand from EV makers (source: Business Korea).

  • The Indian government approved the Production Linked Incentive (PLI) scheme for advanced chemistry cell (ACC) battery manufacture, drawing investments from both domestic and international enterprises (Source: Ministry of Heavy Industries, India).

 

Competitive Intelligence

The battery electrolyte market is fiercely competitive, with top competitors focussing on R&D, capacity expansions, and strategic alliances to obtain market share. Leading market players include Mitsubishi Chemical Corporation, LG Chem Ltd., UBE Industries Ltd., Soulbrain Co., Ltd., and Guangzhou Tinci Materials Technology Co., Ltd. These firms are investing in the development of novel electrolyte formulations, such as solid-state electrolytes and ionic liquids, to meet the changing needs of battery makers. Mergers, acquisitions, and collaborations with battery makers and automobile OEMs are important tactics for electrolyte suppliers to improve their market position. The battery electrolyte market is expected to grow in the next years, driven by rising demand for electric vehicles and energy storage systems.

 

Analyst Opinion

The battery electrolyte market is expected to grow significantly in the future years, owing to increased use of electric vehicles and deployment of energy storage systems. The development of improved electrolyte compositions that improve battery performance, safety, and fast-charging capabilities will be important to the market's expansion. Solid-state electrolytes are emerging as a promising solution for overcoming the limits of liquid electrolytes and developing high-energy-density batteries. The Asia-Pacific region, led by China, Japan, and South Korea, will continue to dominate the battery electrolyte industry, aided by government initiatives and the presence of large battery manufacturers and automakers.

 

Major Players

  • Mitsubishi Chemical Corporation

  • LG Chem Ltd.

  • UBE Industries Ltd.

  • Soulbrain Co., Ltd.

  • Guangzhou Tinci Materials Technology Co., Ltd.

  • GS Yuasa Corporation

  • CAPCHEM

  • Guotai Huarong Poland Sp. z o.o.

  • Shenzhen Capchem Technology Co., Ltd

  • TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD

 

Key Developments

  • LG Chem stated in January 2022 that it would invest $2.1 billion in the construction of a new electrolyte plant in Gumi, South Korea, to fulfil rising EV demand.

  • Mitsubishi Chemical Corporation and Nio, a leading Chinese EV producer, announced a strategic cooperation agreement in November 2021 to co-develop and provide high-performance electrolytes for Nio's next-generation EV batteries.

Table of Content

1. INTRODUCTION

   1.1. Market Definitions & Study Assumptions

   1.2. Market Research Scope & Segment 

   1.3. Research Methodology

2. EXECUTIVE SUMMARY

   2.1. Market Overview & Insights

   2.2. Segment Outlook

   2.3. Region Outlook

3. COMPETITIVE INTELLIGENCE

   3.1. Companies Financial Position

   3.2. Company Benchmarking -- Key Players

   3.3. Market Share Analysis -- Key Companies

   3.4. Recent Companies Key Activities

   3.5. Pricing Analysis

   3.6. SWOT Analysis

4. COMPANY PROFILES (Key Companies list by Country) (Premium)*

5. COMPANY PROFILES

   5.1. Mitsubishi Chemical Corporation

   5.2. LG Chem Ltd.  

   5.3. UBE Industries Ltd.

   5.4. Soulbrain Co., Ltd.

   5.5. Guangzhou Tinci Materials Technology Co., Ltd.

   5.6. GS Yuasa Corporation

   5.7. CAPCHEM

   5.8. Guotai Huarong Poland Sp. z o.o.

   5.9. Shenzhen Capchem Technology Co., Ltd

   5.10. TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD*

6. MARKET DYNAMICS

   6.1. Market Trends

      6.1.1. Growing adoption of electric vehicles fueling demand for advanced battery electrolytes

      6.1.2. Increasing demand for energy storage systems supporting renewable energy integration

      6.1.3. Development of solid-state electrolytes for enhanced safety and performance

   6.2. Market Drivers

      6.2.1. Rising adoption of electric vehicles across automotive segments

      6.2.2. Government initiatives promoting sustainable energy and battery manufacturing 

      6.2.3. Technological advancements in battery chemistries and electrolyte formulations

   6.3. Market Restraints 

      6.3.1. Safety concerns and regulatory challenges hindering market growth

      6.3.2. High cost of advanced electrolyte materials and production processes

   6.4. Market Opportunities

   6.5. Porter's Five Forces Analysis

      6.5.1. Threat of New Entrants

      6.5.2. Bargaining Power of Buyers/Consumers

      6.5.3. Bargaining Power of Suppliers

      6.5.4. Threat of Substitute Products

      6.5.5. Intensity of Competitive Rivalry 

   6.6. Supply Chain Analysis

   6.7. Value Chain Analysis

   6.8. Trade Analysis

   6.9. Pricing Analysis

   6.10. Regulatory Analysis

   6.11. Patent Analysis

   6.12. SWOT Analysis 

   6.13. PESTLE Analysis

7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   7.1. Liquid Electrolyte

      7.1.1. Aqueous electrolytes

      7.1.2. Non-aqueous electrolytes

   7.2. Solid Electrolyte  

      7.2.1. Inorganic solid electrolytes

      7.2.2. Polymer electrolytes

   7.3. Gel Electrolyte

      7.3.1. Polymer gel electrolytes

      7.3.2. Ionic liquid gel electrolytes

8. BY BATTERY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   8.1. Lead-Acid

      8.1.1. Flooded lead-acid batteries

      8.1.2. Valve-regulated lead-acid (VRLA) batteries

   8.2. Lithium-Ion

      8.2.1. Lithium cobalt oxide (LCO) batteries    

      8.2.2. Lithium nickel manganese cobalt oxide (NMC) batteries

      8.2.3. Lithium iron phosphate (LFP) batteries

      8.2.4. Lithium titanate (LTO) batteries

   8.3. Nickel-Based

      8.3.1. Nickel-cadmium (NiCd) batteries

      8.3.2. Nickel-metal hydride (NiMH) batteries

   8.4. Others

      8.4.1. Sodium-sulfur (NaS) batteries

      8.4.2. Flow batteries

9. BY END-USER (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   9.1. Automotive

      9.1.1. Electric vehicles (EVs)

      9.1.2. Hybrid electric vehicles (HEVs) 

      9.1.3. Plug-in hybrid electric vehicles (PHEVs)

   9.2. Industrial

      9.2.1. Energy storage systems

      9.2.2. Uninterruptible power supply (UPS)

      9.2.3. Telecom backup power

   9.3. Consumer Electronics

      9.3.1. Smartphones and tablets

      9.3.2. Laptops and notebooks

      9.3.3. Wearable devices

   9.4. Aerospace & Defense

      9.4.1. Satellite systems

      9.4.2. Military vehicles and equipment

   9.5. Others

      9.5.1. Medical devices

      9.5.2. Power tools

10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)    

    10.1. North America

        10.1.1. United States

        10.1.2. Canada

        10.1.3. Mexico  

    10.2. South America

        10.2.1. Brazil

        10.2.2. Argentina 

        10.2.3. Rest of South America

    10.3. Europe

        10.3.1. Germany

        10.3.2. United Kingdom

        10.3.3. France

        10.3.4. Italy

        10.3.5. Spain

        10.3.6. Russia

        10.3.7. Rest of Europe

    10.4. Asia-Pacific

        10.4.1. China

        10.4.2. Japan

        10.4.3. India

        10.4.4. Australia

        10.4.5. South Korea

        10.4.6. Rest of Asia-Pacific

    10.5. Middle-East  

        10.5.1. UAE

        10.5.2. Saudi Arabia

        10.5.3. Turkey

        10.5.4. Rest of Middle East

    10.6. Africa

        10.6.1. South Africa

        10.6.2. Egypt

        10.6.3. Rest of Africa

 

*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

Scope of the Report

By Type:

  • Liquid Electrolyte

  • Solid Electrolyte

  • Gel Electrolyte

By Battery Type:

  • Lead-Acid

  • Lithium-Ion

  • Nickel-Based

  • Others

By End-User:

  • Automotive

  • Industrial

  • Consumer Electronics

  • Aerospace & Defense

  • Others

By Region:

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

Frequently Asked Questions

We at Aurorawave Intellects Market Report gives total market analysis that suit our customer business need and permit decision maker to run organizations without any problem. We have accomplished greatness in giving start to finish market research arrangements. Our detachment of industry specialists accumulate key data and get ready substance that lines up with our customer's business/specialty.

At aurorawaveintellects.com, we believe that every industry is important to us. Our extensive team of analysts give equal focus to various industries in order to cater to our client needs, some of them being – Healthcare & Pharma, Medical, Automotive, Electric, Chemical, Manufacturing, Energy & Power, Consumer Goods etc.
Our core expertise lies in gaining deeper insights from reliable and trusted voices in the market. We always analyse market trends over the course of multiple years and examine which topics are most relevant to our clients. We pay a great deal of attention to emerging trends, niche technologies, and the latest innovations and research to bring out the best that we can offer.
We understand that every client is different and so is their requirement. While we try to gauge our clients’ needs, we are unable to cover every possible angle of a market in an off-the-shelf report. Hence, we also provide customization options to our reports to suit your needs. If you would like to know what information we can provide about a particular topic, please get in touch with us at info@aurorawaveintellects.com.
Our Research Reports give insights into a gamut of qualitative and quantitative topics. Every Research Report contains the following: • Market landscape • Market size • Market segmentation • Market drivers, challenges, and trends • Vendor landscape For more detail on what a specific report contains, click on report details to know more. If you would like to know what information we can provide about a particular topic, please get in touch with us at info@aurorawaveintellects.com
Our Research Reports are frequently updated with new data and predictions. We also have reports from previous years for specific topics. If you need help, contact us at info@aurorawaveintellects.com and we will be happy to assist you for your query.

We at aurorawaveintellects.com offer mainly 3 types of licenses:

• Single User: Research Report copy can be distributed to a single user only

• Multi User: Research Report distribution is restricted up to 5 users.

• Corporate License :Research Report can be distributed across the company.

Based on the nature of the topic or research, the formats vary. The different formats of the report are as following:

• PDF

• Word Document

• PPT

To purchase a research report, you can browse through various categories, industries or topics and choose a particular report. Next, choose a license type and add the report to your cart. Then simply check out and complete the payment transaction and your report will be delivered to your inbox via email..

Following modes are available for making the payment:

• Online Payment (Visa Card, Master Card, Stripe)

• Razorpay

• Net Banking

• Bank Wire Transfer

At Research Reports Inc., we believe in providing the best value and offering competitive pricing to our customers to reflect that value. However, if you would still like to find out about discounts and offers, please get in touch with us at info@aurorawaveintellects.com.
Yes, you can purchase individual sections of the report. Please get in touch with us at info@aurorawaveintellects.com with your specific request, and we will support you accordingly.
As soon as the purchase process is over and the payment transaction is complete, you will receive the receipt via email.
The purchased Research Report is delivered to your registered email address within 48 hours of receipt of payment. If in case you did not, please check your spam folder. If you still haven’t received it, please get in touch with us at info@aurorawaveintellects.com
If you would like to receive a hard copy of the report, please get in touch with us at info@aurorawaveintellects.com with details about your purchase and we will process the same.
At aurorawaveintellects.com, we offer strong after-sales support with every purchase. Feel free to call us or email us with your queries and we will ensure they are addressed appropriately.
The Research Reports we provide are designed to cater to all market participants across the value chain. However, we do understand that every report may or may not meet the exact client requirement. For any specific change or customization in the report, please get in touch with us at info@aurorawaveintellects.com with your specific request, and we will support you accordingly.

Our customer service and research specialist team are available by phone and by email. Customer service hours are 24X7 Indian Standard Time (IST). You may reach us at:

• Email: info@aurorawaveintellects.com

• United Kingdom: ++91 7382742511