Battery Electrolyte Market by Battery Type and State of Electrolyte [Lead-acid (Liquid Electrolyte, and Gel Electrolyte), Lithium-ion (Liquid Electrolyte)], and Region(APAC, North America, Europe, South America, and MEA)- Global Forecast to 2023

The battery electrolyte market was valued at USD 3.70 Billion in 2017 and is projected to reach USD 6.18 Billion by 2023, at a CAGR of 8.1% during the forecast period.

The objectives of this study are:

• To define, describe, and forecast the battery electrolyte market, in terms of value and volume, based on battery type and its state of electrolyte and region
• To forecast the size of the battery electrolyte market, in terms of value, for five key regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America, along with their key countries
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
• To analyze opportunities in the battery electrolyte market for stakeholders and provide competitive landscape of the market
• To strategically profile key players operating in the battery electrolyte market and comprehensively analyze their core competencies
• To analyze competitive developments such expansions, acquisitions, and joint ventures adopted by leading players in the battery electrolyte market

The years that have been considered for the study are as follows:

• Base Year—2017
• Estimated Year—2018
• Projected Year—2023
• Forecast Period—2018 to 2023
• For the companies profiled in the report, 2017 has been considered the base year. In certain cases, wherein information is unavailable for the base year, the years prior to it have been considered.

Research Methodology

The research methodology used to estimate and forecast the size of the battery electrolyte market begins with capturing data from the revenues of key vendors. This data has been obtained from various secondary sources such as Hoovers, Bloomberg, Factiva, and various other government and private websites. The offerings of vendors have been taken into consideration to determine the segmentation of the battery electrolyte market. After arriving at the overall market size, it has been split into several segments and subsegments, which have been later verified through primary research by conducting extensive interviews with key personnel such as chief executive officers, vice presidents, directors, and executives of leading companies operating in the battery electrolyte market. Data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the battery electrolyte market. The breakdown of profiles of primaries has been depicted in the figure below.

To know about the assumptions considered for the study, download the pdf brochure

The battery electrolyte market has a diversified ecosystem of upstream players, which includes raw material suppliers, along with downstream stakeholders, vendors of battery electrolyte, end users, and government organizations. Mitsubishi Chemical Corporation (Japan), Ube Industries (Japan), Shenzhen Capchem Technology Co., Ltd. (China), Johnson Controls (US), Guangzhou Tinci Materials Technology Co., Ltd. (China), GS Yuasa Corporation (Japan), 3M (US), BASF SE (Germany), LG Chem (South Korea), and American Elements (US) are the key players operating in the battery electrolyte market.

Target Audience

• Manufacturers of Battery Electrolyte
• Traders, Distributors, and Suppliers of Battery Electrolyte
• Government and Research Organizations
• Associations and Industrial Bodies
• R&D Institutions
• Environment Supporting Agencies
• End-use Industries
• Investment Banks & Private Equity Firms

This study answers several questions for the stakeholders, primarily the market segments that they need to focus upon during the next two to five years, so that they can prioritize their efforts and investments accordingly.

Scope of the Report:

This research report categorizes the battery electrolyte market based on battery type and its state of electrolyte and region. It forecasts revenues as well as analyzes trends in each of the following submarkets.

Battery Electrolyte Market, By Battery Type and Its State of Electrolyte

• Lead-acid Battery Electrolyte
  • Liquid Electrolyte
  • Gel Electrolyte
• Lithium-ion Battery Electrolyte
  • Liquid Electrolyte

Battery Electrolyte Market, By Region

• Asia Pacific
• North America
• Europe
• Middle East & Africa
• South America

The following customization options are available for the report

With the given market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for the report:

• Further breakdown of Rest of Asia Pacific, Rest of Europe, and Rest of Middle East & Africa
• Detailed analysis and profiling of the additional market players (up to five)
• Market analysis for solid-state lithium-ion battery electrolyte

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders
    1.6 Limitations

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 28)
    3.1 Introduction

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities for Players in the Battery Electrolyte Market
    4.2 Battery Electrolyte Market, By Battery Type and Its State of Electrolyte
    4.3 Battery Electrolyte Market, By Region

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Demand for Electric Vehicles
                    5.2.1.2 Increasing Awareness About Renewable Energy Storage
                    5.2.1.3 Increasing Adoption of Consumer Electronics
           5.2.2 Restraints
                    5.2.2.1 High Cost of Electric Vehicles as Compared to Conventional Crude Vehicles
                    5.2.2.2 Lack of Efficient Recycling Technologies for Battery Materials
           5.2.3 Opportunities
                    5.2.3.1 Increasing Research Activities to Develop New Electrolytes
                    5.2.3.2 Rise in Local Electrolyte Manufacturers for Lead and Lithium-Ion Batteries in APAC
           5.2.4 Challenges
                    5.2.4.1 Lack of Government Subsidies and Incentives for Lithium-Ion Battery Manufacturers in Emerging Markets
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Economic Indicators
           5.4.1 Industry Outlook
                    5.4.1.1 Electric Vehicles (Evs)
                    5.4.1.2 Electricity Storage

6 Battery Electrolyte Market, By Battery Type and Its State of Electrolyte (Page No. - 42)
    6.1 Introduction
    6.2 Lead-Acid Battery
           6.2.1 Liquid Electrolyte
           6.2.2 Gel Electrolyte
    6.3 Lithium-Ion Battery
           6.3.1 Liquid Electrolyte
           6.3.2 Solid Electrolyte

7 Battery Electrolyte Market, By Region (Page No. - 52)
    7.1 Introduction
    7.2 Asia Pacific
           7.2.1 China
           7.2.2 India
           7.2.3 Japan
           7.2.4 South Korea
           7.2.5 Rest of Asia Pacific
    7.3 Europe
           7.3.1 Germany
           7.3.2 France
           7.3.3 UK
           7.3.4 Netherlands
           7.3.5 Italy
           7.3.6 Rest of Europe
    7.4 North America
           7.4.1 Us
           7.4.2 Canada
           7.4.3 Mexico
    7.5 Middle East & Africa
           7.5.1 Saudi Arabia
           7.5.2 Israel
           7.5.3 UAE
           7.5.4 Rest of Middle East & Africa
    7.6 South America
           7.6.1 Brazil
           7.6.2 Argentina
           7.6.3 Rest of South America

8 Competitive Landscape (Page No. - 106)
    8.1 Overview
    8.2 Market Ranking of Key Players
    8.3 Competitive Scenario
           8.3.1 Expansions
           8.3.2 Acquisitions
           8.3.3 Joint Ventures

9 Company Profiles (Page No. - 111)
    9.1 Mitsubishi Chemicals Corporation
    9.2 UBE Industries
    9.3 Shenzhen Capchem Technology Co., Ltd.
    9.4 Johnson Controls
    9.5 Guangzhou Tinci Materials Technology Co., Ltd.
    9.6 GS Yuasa
    9.7 3M
    9.8 BASF SE
    9.9 LG Chem
    9.10 American Elements
    9.11 Other Key Players
           9.11.1 Tokyo Chemical Industry (TCI)
           9.11.2 Toshima Manufacturing Co. Ltd.
           9.11.3 Advanced Electrolyte Technologies LLC
           9.11.4 Soulbrain Mi
           9.11.5 Gelest, Inc.
           9.11.6 Targray
           9.11.7 Ceramtec
           9.11.8 Ohara Corporation
           9.11.9 Daikin America
           9.11.10 Nohms Technologies
           9.11.11 Panax Etec
           9.11.12 Stella Chemifa Corporation
           9.11.13 Guangdong Jinguang High-Tech Co., Ltd.
           9.11.14 Zhangjiagang Guotai Huarong Chemical New Material Co., Ltd.
           9.11.15 Tomiyama Pure Chemical Industries

10 Appendix (Page No. - 138)
     10.1 Discussion Guide
     10.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     10.3 Introducing RT: Real-Time Market Intelligence
     10.4 Available Customizations
     10.5 Related Reports
     10.6 Author Details

List of Tables (132 Tables)

Table 1 Battery Electrolyte Market Snapshot
Table 2 Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 3 Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 4 Lead-Acid Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 5 Lead-Acid Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 6 Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (USD Million)
Table 7 Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (Kilotons)
Table 8 Liquid Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (USD Million)
Table 9 Liquid Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (Kilotons)
Table 10 Gel Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (USD Million)
Table 11 Gel Lead-Acid Battery Electrolyte Market, By Region, 2016–2023 (Kilotons)
Table 12 Lithium-Ion Battery Electrolyte Market, By Region, 2016–2023 (USD Million)
Table 13 Lithium-Ion Battery Electrolyte Market, By Region, 2016–2023 (Kilotons)
Table 14 Battery Electrolyte Market, By Region, 2016–2023 (USD Million)
Table 15 Battery Electrolyte Market, By Region, 2016–2023 (Kilotons)
Table 16 Asia Pacific Battery Electrolyte Market, By Country, 2016–2023 (USD Million)
Table 17 Asia Pacific Battery Electrolyte Market, By Country, 2016–2023 (Kilotons)
Table 18 Asia Pacific Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 19 Asia Pacific Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 20 Asia Pacific Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 21 Asia Pacific Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 22 China Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 23 China Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 24 China Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 25 China Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 26 India Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 27 India Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 28 India Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 29 India Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 30 Japan Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 31 Japan Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 32 Japan Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 33 Japan Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 34 South Korea Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 35 South Korea Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 36 South Korea Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 37 South Korea Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 38 Rest of Asia Pacific Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 39 Rest of Asia Pacific Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 40 Rest of Asia Pacific Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 41 Rest of Asia Pacific Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 42 Europe Battery Electrolyte Market, By Country, 2016–2023 (USD Million)
Table 43 Europe Battery Electrolyte Market, By Country, 2016–2023 (Kilotons)
Table 44 Europe Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 45 Europe Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 46 Europe Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 47 Europe Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 48 Germany Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 49 Germany Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 50 Germany Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 51 Germany Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 52 France Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 53 France Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 54 France Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 55 France Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 56 UK Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 57 UK Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 58 UK Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 59 UK Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 60 Netherlands Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 61 Netherlands Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 62 Netherlands Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 63 Netherlands Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 64 Italy Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 65 Italy Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 66 Italy Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 67 Italy Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 68 Rest of Europe Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 69 Rest of Europe Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 70 Rest of Europe Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 71 Rest of Europe Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 72 North America Battery Electrolyte Market, By Country, 2016–2023 (USD Million)
Table 73 North America Battery Electrolyte Market, By Country, 2016–2023 (Kilotons)
Table 74 North America Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 75 North America Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 76 North America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 77 North America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 78 US Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 79 US Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 80 US Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 81 US Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 82 Canada Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 83 Canada Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 84 Canada Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 85 Canada Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 86 Mexico Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 87 Mexico Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 88 Mexico Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 89 Mexico Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 90 Middle East & Africa Battery Electrolyte Market, By Country, 2016–2023 (USD Million)
Table 91 Middle East & Africa Battery Electrolyte Market, By Country, 2016–2023 (Kilotons)
Table 92 Middle East & Africa Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 93 Middle East & Africa Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 94 Middle East & Africa Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 95 Middle East & Africa Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 96 Saudi Arabia Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 97 Saudi Arabia Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 98 Saudi Arabia Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 99 Saudi Arabia Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 100 Israel Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 101 Israel Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 102 Israel Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 103 Israel Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 104 UAE Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 105 UAE Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 106 UAE Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 107 UAE Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 108 Rest of Middle East & Africa Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 109 Rest of Middle East & Africa Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 110 Rest of Middle East & Africa Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 111 Rest of Middle East & Africa Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 112 South America Battery Electrolyte Market, By Country, 2016–2023 (USD Million)
Table 113 South America Battery Electrolyte Market, By Country, 2016–2023 (Kilotons)
Table 114 South America Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 115 South America Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 116 South America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 117 South America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 118 Brazil Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 119 Brazil Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 120 Brazil Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 121 Brazil Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 122 Argentina Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 123 Argentina Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 124 Argentina Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 125 Argentina Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 126 Rest of South America Battery Electrolyte Market, By Battery Type, 2016–2023 (USD Million)
Table 127 Rest of South America Battery Electrolyte Market, By Battery Type, 2016–2023 (Kilotons)
Table 128 Rest of South America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (USD Million)
Table 129 Rest of South America Battery Electrolyte Market, By State of Electrolyte, 2016–2023 (Kilotons)
Table 130 Expansions, January 2013-March 2018
Table 131 Acquisitions, January 2013-March 2018
Table 132 Joint Ventures, January 2013-March 2018

List of Figures (36 Figures)

Figure 1 Battery Electrolyte Market: Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Battery Electrolyte Market: Data Triangulation
Figure 5 The Lithium-Ion Battery Segment is Expected to Grow at A Higher Cagr During the Forecast Period
Figure 6 APAC Accounted for Largest Share of the Battery Electrolyte Market in 2017
Figure 7 Emerging Economies to Offer Lucrative Growth Opportunities to Key Players
Figure 8 Lead-Acid Battery Segment is Expected to Lead the Battery Electrolyte Market Between 2018 and 2023
Figure 9 Battery Electrolyte Market in Asia Pacific is Projected to Grow at the Highest Cagr During the Forecast Period
Figure 10 Drivers, Restraints, Opportunities, and Challenges for the Battery Electrolyte Market
Figure 11 Porter’s Five Forces Analysis
Figure 12 Electric Vehicle Sales, 2013-2016 (In Million)
Figure 13 Decline in Lithium-Ion Battery CAPACity Prices, 2010-2016 (USD/Kwh)
Figure 14 Lead-Acid Battery is Expected to Be the Largest Segment of the Battery Electrolyte Market During the Forecast Period
Figure 15 Liquid Electrolytes Segment is Expected to Lead the Lead-Acid Battery Electrolyte Market in 2018
Figure 16 Lead-Acid Battery Segment in Asia Pacific is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 17 Asia Pacific is Expected to Be the Largest and the Fastest-Growing Market for Liquid Electrolyte During the Forecast Period
Figure 18 Europe is Expected to Be the Second-Largest Market for Gel Electrolyte in 2018
Figure 19 Lithium-Ion Battery Segment in Asia Pacific is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 20 China is Expected to Be the Fastest-Growing Market for Battery Electrolyte
Figure 21 Asia Pacific Battery Electrolyte Market Snapshot
Figure 22 Europe Battery Electrolyte Market Snapshot
Figure 23 North America Battery Electrolyte Market Snapshot
Figure 24 Middle East & Africa Battery Electrolyte Market Snapshot
Figure 25 South America Battery Electrolyte Market Snapshot
Figure 26 Companies Primarily Adopted Both Organic and Inorganic Growth Strategies Between January 2013 and March 2018
Figure 27 Market Share of Key Players, 2017
Figure 28 Mitsubishi Chemicals Corporation: Company Snapshot
Figure 29 UBE Industries: Company Snapshot
Figure 30 Shenzhen Capchem: Company Snapshot
Figure 31 Johnson Controls: Company Snapshot
Figure 32 Guangzhou Tinci Materials Technology Co., Ltd.: Company Snapshot
Figure 33 GS Yuasa: Company Snapshot
Figure 34 3M: Company Snapshot
Figure 35 BASF SE: Company Snapshot
Figure 36 LG Chem: Company Snapshot

The battery electrolyte market is projected to grow from USD 4.20 Billion in 2018 to USD 6.18 Billion by 2023, at a CAGR of 8.1 % from 2018 to 2023. Increasing adoption of EV to reduce carbon footprint, rapid increase in automotive sales, high demand from replacement market of batteries, and increasing share of alternative energy sources in the energy mix are the key factors driving the growth of the battery electrolyte market.

Based on battery type, the lithium-ion battery electrolyte segment of the battery electrolyte market is projected to grow at a higher CAGR from 2018 to 2023. Increased production of lithium-ion battery for EVs is the main reason for the growth of this segment. The Electric Vehicles Initiative (EVI) is a multi-government policy to accelerate the adoption of electric vehicles worldwide. The current EVI members list includes Canada, China, Finland, France, Germany, India, Japan, Mexico, the Netherlands, Norway, Sweden, the UK, and the US. These countries have set an ambitious target to change 30% of its total vehicles fleet to electric vehicles. Investments are being done in the lithium-ion battery electrolyte market owing to the increasing production of lithium-ion batteries.

The Asia Pacific region is the largest market for battery electrolyte in the world. The market for electrolyte is growing due to the increased demand from various end-use industries, such as EVs, energy storage, and portable consumer electronics. The demand is also driven by the increasing number of telecom towers, increasing awareness on clean energy generation, rising electrification drive in developing countries, growing automobiles sales, rising demand for industrial storage, dropping solar energy prices, etc.

The high capital cost of EVs as compared to conventional vehicles is restraining the growth of the lithium-ion battery electrolyte market. There is a lack of recycling technologies for lithium-ion batteries. In addition, these technologies are not profitable and require subsidies to make them commercially viable.

Mitsubishi Chemical Corporation (Japan), Ube Industries (Japan), Shenzhen Capchem Technology Co., Ltd. (China), Johnson Controls (US), Guangzhou Tinci Materials Technology Co., Ltd. (China), GS Yuasa Corporation (Japan), 3M (US), BASF SE (Germany), LG Chem (South Korea), and American Elements (US) are among the leading players operating in the battery electrolyte market. These companies have adopted various strategies such as expansions, acquisitions, and joint ventures to meet the growing demand for battery electrolyte as well as increase their market presence.

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