According to a recent market study published by Growth Market Reports titled, "Global Electrolyte Additives for Lithium-Ion Battery Market by Type, Application, and Regions: Size, Share, Trends and Opportunity Analysis, 2018-2030", the market was valued at USD 1,392.4 Million in 2020 and is expected to grow at a moderate growth rate of 15.3% by the year 2030. The global electrolyte additives for lithium-ion battery market are anticipated to grow significantly during forecast period.

Electrolyte additives improve the performance of lithium-ion cells. Lithium-ion batteries act as power sources for mobile phones, laptop computers, digital cameras, electric vehicles, and hybrid electric vehicles, due to the desire for light, thin, and small products among consumers. Electrolytes play a key role in transporting positive lithium ions between the cathode and anode. Commonly used electrolytes comprise lithium salt. High-voltage and high-capacity electrode materials are developed for high-power applications.

The qualities of electrolytes have an impact on battery performance and safety. Small amounts of other components, called as electrolyte additives, are added to improve the qualities of the electrolytes. High growth of the Electrolyte Additives for Lithium-Ion Battery market is attributed to increasing exports and rising domestic demand along with growing volume of shipments.

The electric tools market has been shifted to China by foreign industrial market players. The Electrolyte Additives for Lithium-Ion Battery market in China is projected to expand at a significant CAGR over the forecast period due to increasing sales of new-energy vehicles, rising exports, replacement of lead-acid by lithium batteries, and upgrades in batteries.

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Global Electrolyte Additives for Lithium-Ion Battery Market has been segmented based on type, applications, and regions. Based on types, the global electrolyte additives for lithium-ion battery market are segmented into vinylene carbonate (VC), fluorinated ethylene carbonate (FEC), 1,3-propane sultone (1,3-PS), vinyl ethylene carbonate (VEC), biphenyl carbonate, and ethyl methyl carbonate.

Based on applications, the global electrolyte additives for lithium-ion battery market are segmented into power electrolyte, consumer electrolyte, and energy storage electrolyte. By region global electrolyte additives for lithium-ion battery is segmented as into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Vinylene Carbonate (VC) is mostly used in LIBs, as VC is beneficial for cathode and anode electrolyte interfaces. In lithium-ion batteries, vinylene carbonate (VC) is a widely used electrolyte additive. 1,3-dioxol-2-one is known as vinylene carbonate (VC). Vinylene carbonate is used to form solid electrolyte interphase (SEI) on anodes. It prevents metal-ion leaching from high voltage cathodes.

Vinylene carbonate is electrochemically reactive, due to which polymeric SEIs are formed. In adverse conditions such as high temperature, vinylene carbonate help in preventing further reaction of electrolyte material with electrolyte solution, as VC is electrochemical reactive. Vinylene carbonate improves the cycling stability of high capacity alloy/conversion type anode. SEI formed by VC includes rigid ploy (VC) species.

The spread of COVID-19 has had a positive impact on the microfluidics market players on many fronts and outside factors. The COVID-19 pandemic is causing economic hardships for businesses, consumers, and communities across the world. Manufacturers of electrolyte additives were affected during the pandemic, due to restrictions and closure of global industries.

Import and export of raw materials were affected majorly, due to transport restrictions globally. This, in turn, impeded the growth of the market. COVID-19 hampered the R&D of new and innovative additives, as a majority of research activities have been halted, due to social distancing regulations during the pandemic. Demand for electrolyte additives for lithium-ion batteries decreased during the pandemic, as manufacturing units are closed and lockdowns are imposed. This, in turn, impeded the growth of the market.

Governments imposed various restrictions on trade and commerce, which affected various sectors negatively. Globally, the government imposed social distancing, remote working, and the shutdown of economic operations, which negatively affected the Electrolyte Additives for Lithium-Ion Battery market. In the second half of the year, the epidemic in China was gradually brought under control, and the market's recovery speed was faster than expected, which results, in increasing the lithium battery shipments and also increase in electrolyte shipments.

Key Takeaways from the Study

  • Fluorinated ethylene carbonate (FEC) improves the capability and performance of graphite electrodes and soft carbons, due to its low temperature, driving the market during the forecast period.
  • Lithium-ion batteries are used in consumer electronics products such as watches, toys, smartphones, and smoke detectors which is driving the market during the forecast period.
  • Continuous advancement of technology is projected to increase the demand for lithium-ion batteries in countries such as China, Japan, and India. Demand for lithium-ion batteries is rising, due to the increasing production of consumer electronics in countries such as China and Japan.

Report Scope

Report Metric

Details

Market Value in 2020

USD 1,392.4 Million

Market Growth Rate (from 2021 to 2028)

15.3%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2030

Market Segments

Type, Application, and Regions

Region Scope

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Key Companies Profiled

Halocarbon, LLC, Stella Chemifa Corporation, Targray Technology International Inc., DAIKIN INDUSTRIES, Ltd., Koura, HOPAX, 3M, and Mitsubishi Chemical Corporation

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Commercial, Residential, and Industrial End-users.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: International Trade Centre.