The lithium and lithium-ion battery electrolytes induatry is anticipated to create an absolute dollar opportunity during the forecast period from 2022 to 2029. The market is predicted to expand 11.7% year on year, reaching a worth of around US$ 4,215.2 million by the end of 2022. The global market is expected to grow at a healthy CAGR of 13.2%, reaching a valuation of approximately US$ 10,054.4 million by 2029.
According to FMI research, the market BPS values for lithium and lithium-ion battery electrolytes in the first half of 2022 have declined by 20 units. However, the market is predicted to rise by 40 BPS in H1 2022 compared to H1 2021, according to the forecast.
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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Top Key Player in the Global Industry
- Mitsubishi Chemical Corp.
- Shenzhen Capchem Technology Co Ltd
- Shanshan Technology
- Soulbrain MI
- Guangzhou Tinci Materials Technology Co.
- TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD.
- GuangDong JinGuang High-Tech Co., Ltd
- PANAX-ETEC
- UBE Industries
- Zhangjiagang Guotai-Huarong New Chemical Materials Co., Ltd.
- NEI Corporation
- Mitsui Chemical Inc.
Key Segmentation
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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