According to IMARC Group’s latest report, titled “Battery Electrolyte Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ The global battery electrolyte market reached a value of US$ 8.54 Billion in 2021. Electrolytes help produce electricity by transferring positively charged ions between the cathode and anode terminals inside the batteries. They are liquid or paste-like substances with different chemical compounds and are extensively used for different applications depending on the battery type. In zinc-air batteries, for instance, electricity is produced by oxidizing zinc with oxygen and lithium batteries that have lithium salt solution.
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The global battery electrolyte market is primarily driven by the rapidly expanding automotive sector and the rising demand for electric vehicles (EV) on account of the shifting focus on sustainability across the globe. Moreover, the adoption of smart devices, such as smartphones, digital cameras, and laptops, has significantly facilitated the demand for battery electrolyte, which is contributing to the market growth. The sedentary lifestyles and hectic working schedules have increased the demand for consumer household appliances, such as vacuum cleaners, which is further driving the sales of battery electrolytes, creating a positive outlook for the market. Looking forward, IMARC Group expects the market to reach US$ 13.48 Billion by 2027, exhibiting a CAGR of 7.9% during 2022-2027.
- 3M Company
- American Elements
- BASF SE
- GS Yuasa International Ltd.
- Guangzhou Tinci Materials Technology Co. Ltd.
- Johnson Controls
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc.
- Shenzhen Capchem Technology Co. Ltd.
- Targray and Ube Industries Ltd.
Key Market Segmentation:
Breakup by Battery Type:
- Lead Acid
- Flow Battery
Breakup by Electrolyte Type:
- Liquid Electrolyte
- Solid Electrolyte
- Gel Electrolyte
- Sodium Chloride
- Nitric Acid
- Sulphuric Acid
Breakup by End User:
- Electric Vehicle
- Energy Storage
- Consumer Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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