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Battery Electrolyte - Global Market Trajectory & Analytics

  • ID: 4804363
  • Report
  • September 2020
  • Region: Global
  • 367 pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • 3M COMPANY
  • AMERICAN ELEMENTS
  • BASF SE
  • CERAMTEC GMBH
  • DAIKIN AMERICA
  • GELEST
  • MORE
A Busy Battery Assembly Line to Create a $4.6 Billion Global Opportunity for Battery Electrolyte

The global market for Battery Electrolyte is forecast to reach US$4.6 Billion by 2025, trailing a 2.9% CAGR over the analysis period. Batteries represent an indispensable power source for profusion of power-hungry equipment and electronic devices that gadget-savvy consumers apparently can't do without. Driven by changing portable energy needs, battery makers have been developing newer and more powerful battery chemistries for today's high-tech devices. Battery, as defined is a single cell or a collection of cells encased in continuity, having terminals that produce electricity from chemical energy. It is a stand-alone power source that provides electrical energy without a generator, power socket or a cord. All batteries are made up of cathode, anode, and an electrolyte. The electrodes, comprising anode and cathode are submerged into the electrolytic solution, while externally connecting through a conducting wire. When dissolved into the solvent, ions are released by these electrolytes, eventually producing electric current through the movement of released ions. The two electrodes, namely the negative and the positive, allow the current flow while an electrolyte chemically acts on them as conductor of electrons. Electrolyte is defined as a chemical composition of salts and solvents that dissociates into ions to transport electric charge. Based on the state of electrolyte, battery electrolytes are categorized into solid and liquid electrolyte. Liquid electrolytes are basically found in batteries used in laptops and cell phones.

The most common classification of batteries is acid, mildly acidic, and alkaline. The electrolyte used in mildly acidic batteries is less concentrated than the one used in ordinary acid-based batteries, and generally comprises a wide range of salts, which produce the required acidity level. Less expensive batteries, which are usually used in households, are mildly acidic batteries. On the other hand, alkaline battery uses an alkaline electrolyte in place of the mildly acidic electrolyte in an ordinary zinc-carbon battery. Based upon the type of battery, various chemical compounds are used as electrolytes. Some commonly used compounds include Chloric acid, Sodium Acetate, Sulphuric Acid, Nitric Acid, and Sodium Chloride among others. In the year 1799, an Italian physicist, Alessandro Volta invented the first battery by using voltaic piles for generating electric current continuously. Since then, the basic concept of the battery is same till today, though there were some noteworthy changes in the battery form. Electrolytes take the role of a catalyst, by enabling ionic movement from cathode to the anode during charging, and reversing this process while discharging, and make the battery conductive. Ions are charged atoms, possessing gained or lost electrons. The electrolytes in the battery possess soluble salts, acids or various bases in dry, gelled, and liquid formats. While electrolytes available in polymer form find application in solid state batteries, molten salts and solid ceramic are used in sodium-sulfur batteries.

Renewable energy, in particular solar and wind energy, is emerging as the main focus for investments in the electricity generation sector. By 2040, about $10 trillion is forecast to be spent globally on new power generation, of which a mammoth 70% will be directed at new solar and wind power plants. With energy markets moving away from traditional energy generation towards sustainable alternatives, there will be challenges presented in the form on unstable electricity grids due to high reliance on wind and solar energy technologies. This is because of the fact that there is considerable fluctuation in the output of solar and wind farms based on cloud coverage and wind speeds. Due to the intermittency of renewable power generation, there is potential for damage to power grids by voltage jolts that can also damage to electronic devices. The usual solution to this issue is through maintenance of spinning reserves, referring to a backup network comprising fossil fuel generators designed mainly to meet the demand peaks. However, energy storage technologies, specifically advanced battery technology, are emerging as a more efficient alternative solution. Batteries have the potential to maintain balance in renewable-dominant power grids, since they are capable of injecting power into the grid at a rapid pace and in accurate amounts required to even out fluctuations. The scenario provides opportunities for growth of the battery electrolyte market.

Competitors identified in this market include, among others:
3M, American Elements, BASF SE, Guangzhou Tinci Materials Technology Co., Ltd., Shenzhen Capchem Technology Co., Ltd., GS Yuasa Corporation, LG Chem, Mitsubishi Chemical Corporation, Ube Industries, Guotai Huarong, Shantou Jinguang High-Tech, Ceramtec, Ohara Corporation, among others.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • 3M COMPANY
  • AMERICAN ELEMENTS
  • BASF SE
  • CERAMTEC GMBH
  • DAIKIN AMERICA
  • GELEST
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Battery Electrolyte: An Introduction
  • Impact of Covid-19 and a Looming Recession
  • Long Term Market Outlook
  • Lithium-ion Battery Electrolyte to Register Strong Growth
  • Asia-Pacific to Experience Favorable Growth
  • Competition
  • Global Liquid Battery Electrolyte Market: Percentage Breakdown of Shares by Leading Playersfor 2019
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • E-Mobility: An Expanding Market for Battery Electrolyte
  • Global EV Sales (In Million Units) by Region for the Years 2019, 2025 & 2030
  • Rise in Adoption of Renewable Energy and Growing Need for Battery Storage to Drive Demand for Battery Electrolyte
  • Rapid Growth of Renewable Energy Market: Opportunity for Battery Electrolyte Markets
  • Renewable Energy Consumption by Region (in Million tonnes oil equivalent): 2008-2018
  • Global Energy Generation Mix (in %) for 2019
  • Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
  • Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
  • Improvement in Lithium-Ion Battery Energizes Growth in Electrolyte Market
  • Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
  • Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
  • Global Motorcycles Market (In Million US$) for the Years 2018, 2021, 2023 & 2025
  • Rising Adoption of IoT Devices to Increase the Demand for Battery Electrolytes
  • Global Consumer Electronics Market (In US$ Billion) for the Years 2018 through 2024
  • Worldwide Smartphone Sales (in Million Units) by Geographic Region/Countryfor the Years 2018 & 2022
  • Global Wearable Device Shipments in Million Units for the Years 2017, 2019 and 2021
  • Investments on Rise in Development of Advanced Battery Technologies
  • Few Recent Advancements in Non-Flammable Electrolytes for Safer Lithium-Ion Battery Applications
  • New Generation Lithium-ion Batteries Could Store More Power as they are Nonflammable
  • Advances in Battery Technologies Stir Changes in Electrolyte Composition
  • Select Innovations
  • Dual Electrolyte Battery Technology: A New Development
  • Industry Seeks Rentable Electrolytes Model for Flow Batteries to Compete Against Lithium Ion Batteries
  • Strict Carbon Emission Regulations to Boost Demand in Lithium Ion Battery Electrolytes Market
  • Competing Disruptive Battery Technologies for Li-ion Batteries
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 39
Note: Product cover images may vary from those shown
3 of 3
  • 3M COMPANY
  • ADVANCED ELECTROLYTE TECHNOLOGIES LLC
  • AMERICAN ELEMENTS
  • BASF SE
  • CERAMTEC GMBH
  • DAIKIN AMERICA
  • GS YUASA CORPORATION
  • GELEST
  • GUANGDONG JINGUANG HIGH-TECH
  • GUANGZHOU TINCI MATERIALS TECHNOLOGY
  • JOHNSON CONTROLS, INC..
Note: Product cover images may vary from those shown
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