The lithium and lithium-ion battery electrolytes market is anticipated to create an absolute dollar opportunity during the forecast period from 2022 to 2029. The market is expected to grow with a year-on-year growth of 11.7%, reaching a valuation of about US$ 4,215.2 Million by the end of 2022.
The global market is predicted to witness a reasonable CAGR of 13.2% touching a valuation of about US$ 10,054.4 Million in 2029. According to the FMI studies, the BPS values shown in the market for lithium and lithium-ion battery electrolytes in the first half of 2022 have decreased by 20 units.
However, according to the forecast the market is expected to grow by 40 BPS in H1 2022 compared to H1 2021. According to the historical analysis, the sales of lithium and lithium-ion battery electrolytes surged at a robust CAGR of 9.9% between 2014 and 2021. The rise in its application is predicting substantial growth in the global market.
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Key Takeaways
- One of contemporary electrochemistry’s most successful inventions is Lithium-ion batteries. These batteries are all set to conquer markets and industries in every sphere with their broader range of uses. These batteries have recently come out to be a commercial reality and they have been garnering impeccable success over recent years.
- Owing to the rise in electronic cars, emerging economies are predicting skyrocketing sales in Li & LiB electrolyte derivative applications such as automotive. This will have a significant impact on the market across the estimation period.
- The surge in the adoption of electric vehicles and a nimble consumer shift toward EVs is expected to be the primary factor pushing the demand for lithium and lithium-ion battery electrolytes over the forecast period.
- A reasonable increase in the government initiatives such as financial support, and regulatory schemes, among many others, are expected to play a vital role in fueling up the sales of lithium-ion battery electrolytes over the upcoming evaluation period of 2022–2032. In addition to that, the rising demand for energy storage attributed to the increasing power generation is also expected to benefit the market growth.
- The market is majorly driven by end-use industries such as the consumer electronics market and the automotive market. These two industries in particular made extensive use of batteries and electrolytes.
- In the coming forecast years, the market is expected to witness phenomenal growth owing to the higher consumption from end-use industries, which is expected to boost the demand for lithium and lithium-ion battery electrolytes.
Competitive Landscape
Over the past several years, a significant shift among manufacturers is witnessed towards the emerging regions in order to meet the rising demand for lithium and lithium-ion battery electrolytes. Various dominant players in the market are also focusing on expanding their production capacities, new launches, R & D, and increasing their mergers and acquisition activities.
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Lithium and Lithium Ion Battery Electrolytes Market by Category
By Form:
- Liquid
- Solid
- Gel
By Product Type:
- Lithium Based
- Sulfide Based
- Polymer Based
- Oxide Based
- Others
By End Use:
- Automotive
- Consumer Electronics
- Power & Energy
- General Industrial
By Region:
- China
- Japan
- South Korea
- U.S.
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More Insights into the Lithium and Lithium-Ion Battery Electrolytes Market
As per the FMI analysis, the U.S. is projected to account for a big chunk of the global lithium and lithium-ion battery electrolytes market in the global landscape. The region is expected to showcase a steady pace owing to the increased consumption of electronic items.
The rise in population and rapid urbanization are some of the primary features influencing the growth of the electronics and automotive industries. The consumer electronics industry is likely to propel at a rapid pace, boosting the market for electrolyte makers. The U.S is expected to garner a revenue of US$ 289.9 Million by the year 2029.
Due to the rising demand for electric motorcycles in Japan and other Asia-Pacific countries, lithium-ion batteries have a fortunate future in the Asia-Pacific region. There is a surge witnessed in the number of four-wheeled electric cars powered by lithium-ion batteries which are propelling its demand in the automotive industries of China, South Korea, and Japan. Due to these factors, Japan and South Korea are collectively expected to reach about US$ 2,878.9 Million by the year 2029.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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