Lithium and Lithium Ion Battery Electrolytes Market Size, Share, Demand & Trends by 2029
The global market is predicted to witness a reasonable CAGR of 13.2% touching a valuation of about US$ 10,054.4 Mn in 2029. 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 Mn by the end of 2022.
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.
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
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 Mn 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 Mn by the year 2029.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Market Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Development Trends
To Continue TOC…
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