A lithium-ion battery or Li-ion battery is a kind of rechargeable battery in which lithium ions move from the anode (negative electrode) to the cathode (positive electrode) during release and back when charging. The global lithium and lithium ion battery electrolytes market can be segmented on the basis of lithium salts, physical form and end-use industry. On the basis of lithium salts, it is sub segmented into LiTFSI, LiPF6, LiBF4 and LiClO4. On the basis of physical form, it is sub segmented into liquid and gel. The electrolyte is primarily available in liquid form and is used in batteries. Moreover, on the basis of end-use industry it is sub segmented into Industrial Equipment, Consumer Electronic Goods and Automotive Industry. Consumer electronics segment was largest segment back in 2016 which constitute 37% of the total market share. The increase use of laptops, computer, smart phones and other portable equipment will foster the demand of lithium ion battery in the market.
The CAGR of global lithium and lithium ion battery electrolytes market is anticipated to be around 12% during 2017-2027. The robust growth in CAGR can be accredited to increase in demand from various end-user industries.
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By region, North American countries especially U.S.A accounted for 11% increase in sales of electric vehicle from 2015 levels. Growing adoption of smart devices coupled with shift toward digitization across industrial and healthcare sector will augment the U.S. market. With favorable government policies the demand for electric vehicles will increase substantially, which will parallely fuel the growth in lithium and lithium Ion Battery market.
Technological developments and stringent government regulations is anticipated to increase the market size
Increasing adoption of the electric vehicles such as plug-in hybrid electric vehicles (PHEVs) with satisfactory guidelines including subsidies and tax rebate will augment lithium ion battery market share. Automotive sector are notable application areas. The increased supply of raw materials at reasonable prices has stimulated high production volume making them the ideal technology in industry and commercial sector.
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Strict regulations to encourage the use non-hazardous material will boost the market share over forecast period. For instance, according to a directive of The Department of Energy and National Renewable Energy Laboratory (NREL) it is mandatory for various industries to encourage the adoption of environmentally safe batteries. The regulation also enlists the battery safety standards that need to be followed to by electric vehicle manufacturers.
The report titled “Lithium and Lithium Ion Battery Electrolytes Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global lithium and lithium ion battery electrolytes market in terms of market segmentation by application type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global lithium and lithium ion battery electrolytes market which includes company profiling of key companies such as Mitsubishi Chemical, Honeywell UOP, BASF SE, Shandong Shida Shenghua Chemical Group Co., Ltd. , Zhejiang Yongtai Technology Co., Ltd., Bicon Pharmaceutical Listed Company (Bicon), Do-Fluoride Chemicals Co Ltd. (Do-Fluoride Chemicals), Guangzhou Tinci Materials Technology Co., Ltd. (Tinci), Parad Corporation Pvt Ltd., Mitsui Chemical and Merck KGaA.
The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global lithium and lithium ion battery electrolytes market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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