Use of Lithium Ion Batteries in Electrical Vehicles
Driving the Lithium and Lithium Ion Battery Electrolytes
Market. An In-depth Study of the Lithium and Lithium Ion
Battery Electrolytes Market with Focus on China, Japan,
South Korea, Germany, and the
United States.
NEWARK, Del., June 27, 2024 /PRNewswire/ -- The lithium
and lithium-ion battery electrolyte market value for 2024 is put
forward to be USD 5,281.6
million. By 2034, the industry value is expected to
nearly triple, reaching USD 16,628.9
million. The market is forecast to progress at a CAGR of
12.2% over the next decade.
The surge in lithium-ion battery sales is driven by growing
sustainability concerns and supportive government policies. The
automotive sector is experiencing a green revolution with
increasing sales of electric vehicles (EVs), which in turn
accelerates the demand for lithium-ion battery electrolytes.
Governments worldwide are playing a crucial role in fostering
this demand. With a strong commitment to reducing fuel emissions,
many governments are promoting the adoption of lithium-ion
batteries and electric vehicles. This favorable stance is
propelling the sector forward and contributing to booming sales of
both EVs and lithium-ion batteries.
Request Your Sample Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-5474
Electricity has become indispensable in daily life, and the
power demand continues to rise. Efforts to extend electricity
access to remote and rural areas are further driving this demand.
As energy needs grow, so does the need for effective energy storage
solutions. Lithium-ion batteries are proving to be invaluable in
this regard, providing an efficient means to store excess energy
and significantly boosting demand for lithium and lithium-ion
battery electrolytes.
While traditional liquid lithium-ion batteries have long been
popular, solid-state lithium-ion batteries are gaining traction
among consumers. Their lightweight nature is a key factor driving
their growing popularity, offering a promising alternative for
various applications.
The rise in lithium-ion battery sales is fueled by a combination
of environmental concerns, supportive government policies, and
increasing demand for electricity and consumer electronics. As
technology continues to evolve, lithium-ion batteries are set to
play an even more critical role in powering a sustainable
future.
Lithium and Lithium Ion Battery Electrolyte Market
Trends
- The use of lithium ion battery electrolytes is not limited to
vehicles on the ground, as aircraft are also turning towards the
electric route. Thus, the market for lithium and lithium ion
battery electrolytes is taking flight in the aircraft sector.
- Lithium ion batteries energy storage capabilities are extending
to the solar sector. By storing surplus energy, lithium batteries
are making sure solar-powered equipment does not run out of use
even in the absence of the sun.
- Pacemakers rely on lithium ion batteries for their long battery
life and suitable voltage capabilities. Thus, the market is also
seeing accelerating demand in the healthcare sector.
- With home security as a vital concern for people, in light of
waves of home invasions and an increase in robberies, security
alarm systems' adoption in homes is also increasing. These systems
use lithium ion batteries for their functionality, and thus, the
home security sector is contributing to the growth of the
market.
- To combat the risk of power outages and instability, lithium
battery use in uninterrupted power supply or emergency power backup
systems is increasing.
- Aside from traditional mobility vehicles, the likes of golf
carts and trolleys are also heading the electric route, thus
increasing the application of lithium ion batteries and in turn,
benefitting the market.
- Liquid lithium ion batteries' bulky nature makes electric
vehicle manufacturers hesitant about their use, which restricts the
scope of the market.
Key Takeaways from the Lithium and Lithium Ion Battery
Electrolyte Market
- The lithium and lithium-ion battery electrolyte market is set
to total USD 5,281.6 million
in 2024.
- By product type, the lithium-based segment is estimated to hold
84.8% of the market share in 2024.
- Consumer electronics segment by end-use is estimated to account
for 10.8% of the market share in 2024.
- India is set to be a lucrative
country, with a CAGR of 18.1% forecasted for the next ten
years.
- China is anticipated to
provide significant opportunities, with a CAGR of 13.6% over
the forecast period.
- The United States is projected
to witness a CAGR of 6.8% through 2034.
"Consumer electronics such as smartphones, laptops, and
digital cameras are increasingly reliant on lithium-ion batteries.
As these devices become more integral to people's daily lives, the
demand for lithium batteries is reaching unprecedented
levels," Says Nikhil Kaitwade, Associate Vice
President at Future Market Insights (FMI).
Get Full Report Now!
https://www.futuremarketinsights.com/checkout/5474
Competition Analysis of the Lithium and Lithium Ion Battery
Electrolyte Market
The lithium and lithium-ion battery electrolyte market is
controlled primarily by a few market giants. However, medium and
small-scale enterprises are finding a way around through the means
of public and private investment. Some of the prominent companies
in the market include Mitsubishi Chemical Corp., and Shenzhen
Capchem Technology Co. Ltd.
Recent Development-
In April 2023, the Faraday
Institution planned to invest more than USD 36.5 million in the development of
solid-state batteries for electric vehicles.
Leading Lithium and Lithium Ion Battery Electrolyte
Players
- Mitsubishi Chemical Corp.
- Shenzhen Capchem Technology Co. Ltd.
- Shanshan Technology
- Soulbrain MI
- Guangzhou Tinci Materials Technology Co.
- TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD.
- GuangDong JinGuang High-Tech Co., Ltd.
- PANAX-ETEC
- UBE Industries
- Zhangjiagang Guotai-Huarong New Chemical Materials Co.,
Ltd.
- NEI Corporation
- Mitsui Chemical Inc.
Key Segments of Market Report
By Product Type: Based on product type, the industry is
segmented into lithium-based, sulfide-based, polymer-based,
oxide-based, and others.
By Form: Based on form, the industry is divided into
liquid, solid, and gel.
By End-use: Based on end-use, the industry is segregated
into automotive, consumer electronics, power and energy, and
general industrial.
By Region: North
America, Latin America,
Europe, South Asia, East
Asia, Oceania, and the Middle
East and Africa.
Report Preview:
https://www.futuremarketinsights.com/reports/lithium-and-lithium-ion-battery-electrolytes-market
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports of Chemicals
& Materials
From 2022-2032, the lithium mining market is projected
to exhibit a CAGR of 7.43% while garnering a market value
worth USD 3.4 Billion.
The lithium silicon battery market is projected to be
valued at USD 22.2 billion in 2024
and rise to USD 1150.0 billion by
2034. It is expected to grow at a CAGR of 48.4 % from 2024 to
2034.
The lithium ion battery material market is anticipated
to be worth USD 43.4 billion in 2024.
The market is projected to reach USD 371.0
billion by 2034. The market is further expected to surge at
a CAGR of 23.9% during the forecast period 2024 to 2034.
The lithium ion battery dispersant market was valued
at USD 713.9 million in 2023. During
the forecast period, the market is expected to garner a 12.4% CAGR.
By 2034, the gold metalized market is expected to reach a valuation
of USD 3,045 million.
Global battery material sales are projected to increase at 5.9%
CAGR during the assessment period, taking the overall market
valuation to around USD 102.8 billion
by 2033.
The global direct methanol fuel cell market size is
anticipated to be worth USD 12.2
billion by 2034. According to the estimates, the market is
projected to clock a 13.8% CAGR until 2034.
The lithium compound market is anticipated to be worth
USD 11.8 billion in 2024. The market
is expected to grow at an astounding rate from 2024 to 2034, with a
CAGR of 21.3%. By 2034, the market value is predicted to hit
USD 81.5 billion.
The worldwide silicon anode lithium-ion battery
market reached US$ 721 million
in 2023. The industry is set to surge at a CAGR of 49.2% through
the forecast period. The market is projected to reach USD 1,052.8 million in 2024 and USD 57,653.4 million in 2034.
The thermal management market is set to embark on a
positive growth trajectory. Current projections for the thermal
management landscape indicate a valuation of USD 12.8 billion in 2024.
From 2024 to 2034, sales of stationary battery storage systems
are anticipated to augment at a CAGR of 32.4%.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
New York Chamber of Commerce) offers profound insights into
the driving factors that are boosting demand in the market. FMI
stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and
Chemicals markets. With a vast team of ~400 analysts worldwide, FMI
provides global, regional, and local expertise on diverse domains
and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware -
19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube
Logo:
https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/lithium-and-lithium-ion-battery-electrolyte-market-to-advance-at-a-12-2-cagr-by-2034-as-electric-vehicle-sales-are-hitting-the-roof--future-market-insights-inc-302184365.html