Electrolyte Additives for Lithium Ion Battery Market | 2031
Global Electrolyte Additives for Lithium-Ion Battery Market
Segments - by Types (Vinylene Carbonate (VC), Fluorinated Ethylene Carbonate (FEC), 1,3-Propane Sultone (1,3-PS), Vinyl Ethylene Carbonate (VEC), Biphenyl Carbonate, and Ethyl Methyl Carbonate), By Application (Power Electrolyte, Consumer Electrolyte, and Energy Storage Electrolyte), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
Segments - by Types (Vinylene Carbonate (VC), Fluorinated Ethylene Carbonate (FEC), 1,3-Propane Sultone (1,3-PS), Vinyl Ethylene Carbonate (VEC), Biphenyl Carbonate, and Ethyl Methyl Carbonate), By Application (Power Electrolyte, Consumer Electrolyte, and Energy Storage Electrolyte), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
Electrolyte Additives For Lithium Ion Battery Market Outlook 2031:
The global electrolyte additives for lithium-ion battery market was valued at USD 1.85 Billion in 2020 and is projected to reach USD 6.66 Billion by 2030, expanding at a CAGR of 15.3% during the forecast period. The Electrolyte Additives for Lithium-Ion Battery market is expected to expand significantly over the forecast period, due to its use in numerous applications such as mobile phones, laptops, electric vehicles, watches, toys, and others.
Many market players are focusing on performance improvement based on high voltage and high temperature. Moreover, they are developing additives which are capable of forming a kinetically stabilizing layer on the electrode surface at low concentrations in electrolytes.
Electrolyte Additives For Lithium Ion Battery Market Dynamics
Experts are working to develop innovative electrolytes that ensure good battery performance, durability, and safety, high-energy anode materials such as silicon and cathode materials, due to growing need of lithium-ion batteries in electric cars. Lithium-ion batteries (LIBs) for electric vehicles (EVs) benefit from high energy density and long lifetime.
Energy-storage technologies such as electrical double-layer capacitors and rechargeable batteries gained ample attention, due to their potential applications in portable electronic devices, electric vehicles, bulk electricity storage at power plants, and “load levelling” of renewable energy sources such as solar and wind. Electrolyte additives for lithium-ion batteries require a paradigm shift in the science that underpins them, including the discovery of new materials, electrochemistry, and high understanding of the processes that these devices rely on.
Electrolyte additives are extensively employed for extending the cycle life of lithium-ion batteries, while preventing electrolyte decomposition at the electrodes. Fluorine-containing compounds have good temperature stability, which improves the safety of lithium-ion batteries. Additionally, some fluoroesters have good flame retardancy and high temperature stability, which improves the safety of lithium-ion batteries.
Individual cell and battery design are structural factors that determine the performance of batteries. At the cell level, electrode design comes with an inherent trade-off between the discharge rate and the electrical capacity of the cell.
PF5 in LiPF6-containing electrolytes, resulting in the generation of corrosive and gaseous species such as CO2 which causes severe deterioration of storage performance of LIBs at high-temperature conditions. Lithium-ion batteries using non-aqueous liquid organic electrolytes pose safety concerns, which limits their application for large-scale energy storage.
Decreasing cost of solar photovoltaic modules and associated systems, supportive worldwide activities to reduce carbon emissions and encourage renewables, and technological advancements in the battery electrolyte additives industry are expected to provide opportunities to the market players. Cells are the primary component of a battery and account for a sizeable share in the final battery value.
They are composed of several sub-components, which require technologies to manufacture from different sets of raw materials such as base metals, polymers, alloys, and salts. These raw materials need to be sourced from different countries, endowed with the natural resource, forming global supply chains.
Electrolyte Additives For Lithium Ion Battery Market Segment Insights
By Type
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.
Electrolyte additives help in improving the performance of lithium-ion batteries. The vinylene carbonate (VC) segment is expected to expand at a significant CAGR during the forecast period, as VC improves the cycling stability of high capacity alloy/conversion type anode.
By Application
Based on applications, the global electrolyte additives for lithium-ion battery market are segmented into power electrolyte, consumer electrolyte, and energy storage electrolyte. The power electrolyte segment holds a considerable market share during the forecast period, due to the increasing demand for lithium-ion batteries in portable energy equipment such as tablets, laptops, and mobile phones.
By Region
Based on regions, the global electrolyte additives for lithium-ion battery market are segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the market during the forecast period, due to the presence of multiple domestic players in the region. Increasing investment and advancement in technologies is anticipated to propel the market during the forecast period.
Key Benefits for Industry Participants & Stakeholders
In-Depth Analysis of the Electrolyte additives for lithium-ion battery Market.
Historical, Current and Projected Market Size in Terms of Value.
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on From Electrolyte additives for lithium-ion battery Market Performance
Key players in the electrolyte additives for lithium-ion battery market are Halocarbon, LLC, Stella Chemifa Corporation, Targray Technology International Inc., DAIKIN INDUSTRIES, Ltd., Koura, HOPAX, 3M, and Mitsubishi Chemical Corporation.
The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition, and many other strategies to cater the increasing demand for electrolyte additives for lithium-ion battery. For instance, in December 2019, DAIKIN INDUSTRIES, Ltd. announced the launch of the refrigerant, Creard R-448A (R-448A) in Japan from January 2020. With more than 64% less GWP of R-404A, R-448A is sold as a substitute refrigerant to R-404A, which is mostly used in industrial and commercial refrigeration.
In August 2021, Mitsubishi Chemical Corporation is engaged in the construction of a new sugar ester manufacturing facility at its Fukuoka Plant. The sugar ester is used in a variety of products including chocolate, processed foods such as coffee and canned drinks, confectionery, dairy products such as whipped cream, and cakes.
Video Summary for Electrolyte Additives for Lithium-Ion Battery Market
Chapter 1 Executive Summary Chapter 2 Assumptions and Acronyms Used Chapter 3 Research Methodology Chapter 4 Electrolyte Additives for Lithium-Ion Battery Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Electrolyte Additives for Lithium-Ion Battery Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Electrolyte Additives for Lithium-Ion Battery Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Electrolyte Additives for Lithium-Ion Battery Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Electrolyte Additives for Lithium-Ion Battery Market Size & Forecast, 2018-2030 4.5.1 Electrolyte Additives for Lithium-Ion Battery Market Size and Y-o-Y Growth 4.5.2 Electrolyte Additives for Lithium-Ion Battery Market Absolute $ Opportunity 4.6 Pricing Analysis 4.7 Key Regulations 4.8 Technological Advancement 4.9 Investment Scenario 4.10 Comparative Analysis 4.11 Key Trends Analysis Chapter 5 Global Electrolyte Additives for Lithium-Ion Battery Market Analysis and Forecast By Type 5.1 Introduction 5.1.1 Key Market Trends & Growth Opportunities By Type 5.1.2 Basis Point Share (BPS) Analysis By Type 5.1.3 Absolute $ Opportunity Assessment By Type 5.2 Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 5.2.1 Vinylene Carbonate (VC) 5.2.2 Fluorinated Ethylene Carbonate (FEC) 5.2.3 1,3-Propane Sultone (1,3-PS) 5.2.4 Vinyl Ethylene Carbonate (VEC) 5.2.5 Biphenyl Carbonate 5.2.6 Ethyl Methyl Carbonate 5.3 Market Attractiveness Analysis By Type Chapter 6 Global Electrolyte Additives for Lithium-Ion Battery Market Analysis and Forecast By Application 6.1 Introduction 6.1.1 Key Market Trends & Growth Opportunities By Application 6.1.2 Basis Point Share (BPS) Analysis By Application 6.1.3 Absolute $ Opportunity Assessment By Application 6.2 Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 6.2.1 Power Electrolyte 6.2.2 Consumer Electrolyte 6.2.3 Energy Storage Electrolyte 6.3 Market Attractiveness Analysis By Application Chapter 7 Global Electrolyte Additives for Lithium-Ion Battery Market Analysis and Forecast by Region 7.1 Introduction 7.1.1 Key Market Trends & Growth Opportunities by Region 7.1.2 Basis Point Share (BPS) Analysis by Region 7.1.3 Absolute $ Opportunity Assessment by Region 7.2 Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Region 7.2.1 North America 7.2.2 Europe 7.2.3 Asia Pacific 7.2.4 Latin America 7.2.5 Middle East & Africa (MEA) 7.3 Market Attractiveness Analysis by Region Chapter 8 Coronavirus Disease (COVID-19) Impact 8.1 Introduction 8.2 Current & Future Impact Analysis 8.3 Economic Impact Analysis 8.4 Government Policies 8.5 Investment Scenario Chapter 9 North America Electrolyte Additives for Lithium-Ion Battery Analysis and Forecast 9.1 Introduction 9.2 North America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Country 9.2.1 U.S. 9.2.2 Canada 9.3 Basis Point Share (BPS) Analysis by Country 9.4 Absolute $ Opportunity Assessment by Country 9.5 Market Attractiveness Analysis by Country 9.6 North America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 9.6.1 Vinylene Carbonate (VC) 9.6.2 Fluorinated Ethylene Carbonate (FEC) 9.6.3 1,3-Propane Sultone (1,3-PS) 9.6.4 Vinyl Ethylene Carbonate (VEC) 9.6.5 Biphenyl Carbonate 9.6.6 Ethyl Methyl Carbonate 9.7 Basis Point Share (BPS) Analysis By Type 9.8 Absolute $ Opportunity Assessment By Type 9.9 Market Attractiveness Analysis By Type 9.10 North America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 9.10.1 Power Electrolyte 9.10.2 Consumer Electrolyte 9.10.3 Energy Storage Electrolyte 9.11 Basis Point Share (BPS) Analysis By Application 9.12 Absolute $ Opportunity Assessment By Application 9.13 Market Attractiveness Analysis By Application Chapter 10 Europe Electrolyte Additives for Lithium-Ion Battery Analysis and Forecast 10.1 Introduction 10.2 Europe Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Country 10.2.1 Germany 10.2.2 France 10.2.3 Italy 10.2.4 U.K. 10.2.5 Spain 10.2.6 Russia 10.2.7 Rest of Europe 10.3 Basis Point Share (BPS) Analysis by Country 10.4 Absolute $ Opportunity Assessment by Country 10.5 Market Attractiveness Analysis by Country 10.6 Europe Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 10.6.1 Vinylene Carbonate (VC) 10.6.2 Fluorinated Ethylene Carbonate (FEC) 10.6.3 1,3-Propane Sultone (1,3-PS) 10.6.4 Vinyl Ethylene Carbonate (VEC) 10.6.5 Biphenyl Carbonate 10.6.6 Ethyl Methyl Carbonate 10.7 Basis Point Share (BPS) Analysis By Type 10.8 Absolute $ Opportunity Assessment By Type 10.9 Market Attractiveness Analysis By Type 10.10 Europe Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 10.10.1 Power Electrolyte 10.10.2 Consumer Electrolyte 10.10.3 Energy Storage Electrolyte 10.11 Basis Point Share (BPS) Analysis By Application 10.12 Absolute $ Opportunity Assessment By Application 10.13 Market Attractiveness Analysis By Application Chapter 11 Asia Pacific Electrolyte Additives for Lithium-Ion Battery Analysis and Forecast 11.1 Introduction 11.2 Asia Pacific Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Country 11.2.1 China 11.2.1.1 By Type 11.2.1.2 By Application 11.2.2 Japan 11.2.3 South Korea 11.2.4 India 11.2.5 Australia 11.2.6 South East Asia (SEA) 11.2.7 Rest of Asia Pacific (APAC) 11.3 Basis Point Share (BPS) Analysis by Country 11.4 Absolute $ Opportunity Assessment by Country 11.5 Market Attractiveness Analysis by Country 11.6 Asia Pacific Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 11.6.1 Vinylene Carbonate (VC) 11.6.2 Fluorinated Ethylene Carbonate (FEC) 11.6.3 1,3-Propane Sultone (1,3-PS) 11.6.4 Vinyl Ethylene Carbonate (VEC) 11.6.5 Biphenyl Carbonate 11.6.6 Ethyl Methyl Carbonate 11.7 Basis Point Share (BPS) Analysis By Type 11.8 Absolute $ Opportunity Assessment By Type 11.9 Market Attractiveness Analysis By Type 11.10 Asia Pacific Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 11.10.1 Power Electrolyte 11.10.2 Consumer Electrolyte 11.10.3 Energy Storage Electrolyte 11.11 Basis Point Share (BPS) Analysis By Application 11.12 Absolute $ Opportunity Assessment By Application 11.13 Market Attractiveness Analysis By Application Chapter 12 Latin America Electrolyte Additives for Lithium-Ion Battery Analysis and Forecast 12.1 Introduction 12.2 Latin America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Country 12.2.1 Brazil 12.2.2 Mexico 12.2.3 Rest of Latin America (LATAM) 12.3 Basis Point Share (BPS) Analysis by Country 12.4 Absolute $ Opportunity Assessment by Country 12.5 Market Attractiveness Analysis by Country 12.6 Latin America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 12.6.1 Vinylene Carbonate (VC) 12.6.2 Fluorinated Ethylene Carbonate (FEC) 12.6.3 1,3-Propane Sultone (1,3-PS) 12.6.4 Vinyl Ethylene Carbonate (VEC) 12.6.5 Biphenyl Carbonate 12.6.6 Ethyl Methyl Carbonate 12.7 Basis Point Share (BPS) Analysis By Type 12.8 Absolute $ Opportunity Assessment By Type 12.9 Market Attractiveness Analysis By Type 12.10 Latin America Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 12.10.1 Power Electrolyte 12.10.2 Consumer Electrolyte 12.10.3 Energy Storage Electrolyte 12.11 Basis Point Share (BPS) Analysis By Application 12.12 Absolute $ Opportunity Assessment By Application 12.13 Market Attractiveness Analysis By Application Chapter 13 Middle East & Africa (MEA) Electrolyte Additives for Lithium-Ion Battery Analysis and Forecast 13.1 Introduction 13.2 Middle East & Africa (MEA) Electrolyte Additives for Lithium-Ion Battery Market Size Forecast by Country 13.2.1 Saudi Arabia 13.2.2 South Africa 13.2.3 UAE 13.2.4 Rest of Middle East & Africa (MEA) 13.3 Basis Point Share (BPS) Analysis by Country 13.4 Absolute $ Opportunity Assessment by Country 13.5 Market Attractiveness Analysis by Country 13.6 Middle East & Africa (MEA) Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Type 13.6.1 Vinylene Carbonate (VC) 13.6.2 Fluorinated Ethylene Carbonate (FEC) 13.6.3 1,3-Propane Sultone (1,3-PS) 13.6.4 Vinyl Ethylene Carbonate (VEC) 13.6.5 Biphenyl Carbonate 13.6.6 Ethyl Methyl Carbonate 13.7 Basis Point Share (BPS) Analysis By Type 13.8 Absolute $ Opportunity Assessment By Type 13.9 Market Attractiveness Analysis By Type 13.10 Middle East & Africa (MEA) Electrolyte Additives for Lithium-Ion Battery Market Size Forecast By Application 13.10.1 Power Electrolyte 13.10.2 Consumer Electrolyte 13.10.3 Energy Storage Electrolyte 13.11 Basis Point Share (BPS) Analysis By Application 13.12 Absolute $ Opportunity Assessment By Application 13.13 Market Attractiveness Analysis By Application Chapter 14 Competition Landscape 14.1 Electrolyte Additives for Lithium-Ion Battery Market: Competitive Dashboard 14.2 Global Electrolyte Additives for Lithium-Ion Battery Market: Market Share Analysis, 2020 14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 14.3.1 Halocarbon, LLC 14.3.2 Stella Chemifa Corporation 14.3.3 3M 14.3.4 HOPAX 14.3.5 Targray Technology International Inc. 14.3.6 DAIKIN INDUSTRIES, Ltd. 14.3.7 Koura 14.3.8 Mitsubishi Chemical Corporation
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Lithium-ion batteries are largely used in many applications including electric vehicles, mobile phones, hybrid electric vehicles, laptops, and computers, due to the requirement of small, light, and thin products.
According to this Growth Market Reports, the market from electrolyte additives for lithium-ion battery market is likely to register a CAGR of 15.3% during period 2021-2030, with an anticipated valuation of USD 5,259.9 million by the end of the 2030.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2020), other data such Macro-economic factors, Pricing Analysis, Key Regulations, Technological Advancement, Investment Scenario, Comparative Analysis, Key Trends Analysis, and COVID-19 Impact on the electrolyte additives for lithium-ion battery market is available in final report.
Demand for lithium-ion batteries is increasing, due to its wide applications. Demand for electrolyte additives is simultaneously growing to increase the battery performance. The rise in Consumer Electronics and portable devices increases, henceforth electrolyte additives demand also increases as to maintain temperature.
The consumer electrolyte segment is expected to expand at a significant CAGR during the forecast period, owing to the increasing demand for rechargeable lithium-ion batteries.
The market is expected to witness decreased in terms of demand during 2019-2020 owing to the negative impact of COVID-19 pandemic on the electrolyte additives for lithium-ion battery market.
The base year considered for the Electrolyte additives for lithium-ion battery market report is 2020. The complete analysis period is 2018 to 2030, wherein, 2018 & 2019 are the historic years, and the forecast is provided from 2021 to 2030.
Major Manufactures include Halocarbon, LLC, Stella Chemifa Corporation, Targray Technology International Inc., DAIKIN INDUSTRIES, Ltd., Koura, HOPAX, 3M, and Mitsubishi Chemical Corporation.
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