The growth of the automotive and consumer electronics industries in developing countries and increasing investments in renewable energy are expected to drive the demand for battery additives during the forecast period. The key players in the battery additives market include Cabot Corporation (US), 3M (US), IMERYS (France), Orion Engineered Carbons (Luxembourg), Hammond Group (US), SGL Carbon (Germany), Borregaard (Norway), HOPAX (Taiwan), PENOX (Germany), and ALTANA (Germany). The battery additives market report analyzes the key growth strategies, such as expansion, new product launch, and acquisition, adopted by the leading market players between 2015 and 2019.
Orion Engineered Carbons is among the key players in the battery additives market. The company has adopted the strategy of acquisition to strengthen its competitiveness in the global battery additives market. For instance, in November 2018, Orion Engineered Carbons acquired acetylene carbon black manufacturer Société du Noir d'Acétylène de l'Aubette, which was initially a part of LyondellBasell Industries Holdings B.V. This acquisition added acetylene carbon black to its product portfolio which is used in Li-ion batteries and high-end electrical cables manufacturing. This will strengthen the company's reach in the battery additives market in the US.
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Cabot Corporation is one of the leading manufacturers of battery additives; the company has adopted new product launch as one of its key business strategies. For example, in February 2016 the company launched a new conductive additive, LITX 300, for Li-ion battery applications. This new additive is easy to disperse as well as incorporate in the Li-ion battery manufacturing process. It also improves conductivity, flexibility, and shelf life of Li-ion batteries. This strategy is expected to strengthen Cabot’s position in the battery additives business.
Battery Additives Market by Type (Conductive Additive, Porous Additive, and Nucleating Additive), Application (Lead Acid and Li-ion), and Region (APAC, Europe, North America, South America, and the Middle East & Africa) - Global Forecast to 2023
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