Lithium and Lithium Ion Battery Electrolytes Market to Amp Up with Significant Inclination towards Electric Mobility

A new research by Future Market Insights on the lithium and lithium ion battery electrolytes market includes global industry analysis for 2014-2021 and opportunity assessment for 2022-2029.

The report explores the lithium and lithium ion battery electrolytes market and provides the reader analytical insights for the forecast period of 2022-2029. As per the findings of the report, the global lithium and lithium ion battery electrolytes market is projected to experience steady growth over the forecast period, due to multiple driving factors, such as increasing battery applications in automotive and consumer electronic manufacturing activities across geographies.

Ascending sales of electric vehicles in recent times has been working to the advantage of the lithium and lithium ion battery electrolytes market players. In order to win in the innovation game, manufacturers are continuously leveraging newer materials and novel technologies, according to the FMI’s analysis.

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The global lithium and lithium ion battery electrolytes market value in 2022 is estimated at US$ 4,215.2 Mn, and is expected to increase at a CAGR of 13.2% over the forecast period of 2022-2029. This progress in the market is majorly propelled by the growing consumption of lithium and lithium ion battery electrolytes as battery material for electric vehicles and electronics such as laptops, cameras, and personal digital assistants, among others. The power and energy industry has started using electrolytes for energy storage plants in multiple areas, increasing the usage of electrolytes for powering general industrials such as forklift, cement mixers, and air filters, among others.

China’s Market Attractiveness Rising

Although regions such Europe and North America are anticipated to hold significant market shares in the future, currently, the lithium and lithium ion battery electrolytes market growth is expected to be spearheaded by China, Japan, and South Korea.

Moreover, macroeconomic factors such as increment in GDP, consumer electronics, and automotive fleet as well as new production, increasing specialty chemical industry, and overall growth in the manufacturing sector are expected to reflect significant increase in opportunities in Asia Pacific. As a consequence, the growing automotive and consumer electronics industry is expected to increase the usage of lithium and lithium ion battery electrolytes significantly.

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Extensive Usage in Consumer Electronics and Automotive Industries

The lithium and lithium ion battery electrolytes market is segmented in four different segments, which are product, form, end use, and region.

  • By form, the liquid electrolytes are expected to hold a prominent share over the forecast period of 2022-2029.
  • By product, lithium-based electrolytes are consumed on a greater scale as compared to their counterparts including sulfide-, polymer-, and oxide-based electrolytes.
  • In terms of end-use, consumption of lithium and lithium ion battery electrolytes by the automotive industry is expected to account for relatively high sales, due to its growing application in batteries for electric vehicles. Increasing preference for greener modes of transportation, i.e., electric vehicles, has led to increasing production of electrolyte-powered batteries for these electric vehicle, thereby fueling the growth of the lithium and lithium ion battery electrolytes market.

Key Segment

Form

  • Liquid
  • Solid
  • Gel

Product

  • Lithium-Based
  • Sulfide-Based
  • Polymer-Based
  • Oxide-Based
  • Others

End Use

  • Automotive
  • Consumer Electronics
  • Power & Energy
  • General Industrial

Region

  • China
  • Japan
  • South Korea
  • U.S.
  • Rest of the World

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Lithium and Lithium Ion Battery Electrolytes Market: Key Players’ Insights

This lithium and lithium ion battery electrolytes report focuses on few key market players, some of these have come out as market leaders. Few examples of such manufacturers in the lithium and lithium ion battery electrolytes market are as follows:

Shenzhen Capchem Technology Co Ltd, Shanshan Technology, Soulbrain MI, Guangzhou Tinci Materials Technolgy Co., TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD., GuangDong JinGuang High-Tech Co., Ltd, PANAX-ETEC, UBE Industries, and Zhangjiagang Guotai-Huarong New Chemical Materials Co., Ltd.

The global lithium and lithium ion battery electrolytes market is highly consolidated with few players being prominent in the lithium and lithium ion battery electrolytes market under their trademarked names such as Sol-Rite™, POWERLYTE®, NANOMYTE® Series, and LMP® battery, among others.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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