Electrolyte is a chemical solution of salts and solvents in fixed ratio to enhance the flow of ions and create a conductive medium. In case of lithium ion it is 1:4. Lithium batteries are batteries which have lithium at the anode and also stated as lithium-metal batteries. They have electrolyte which is not rechargeable, on the other hand Lithium ion battery (LIB) is a rechargeable battery. Lithium Ion Battery Electrolytes have flammable solvents and rechargeable property, which play an important role in transfer of cations (positive ions) between the anode and cathode. Lithium Ion Battery Electrolytes provide high power even at under low temperatures, high voltage, high durability etc.
Market Size and Forecast
The global lithium and lithium ion battery electrolytes market is anticipated to grow at a CAGR around 12% during 2017-2027. The growth in demand from various industries such as consumer and automotive coupled with strict government regulations is anticipated to increase the market size of global lithium and lithium ion battery electrolytes market in the upcoming years.
The global lithium and lithium ion battery electrolytes market is segmented on the basis of Lithium salts, Physical form and End-Use industry. Moreover, on the basis of End-Use industry it is sub segmented into industrial equipment, consumer electronic goods and automotive industry. Consumer electronics in 2017, accounted for over 37% of global market share. Importance on utilization of movable medical devices along with increasing demand for mobile phones across various developing economies will definitely influence the business scenario. Decreasing cost of smart devices, growing adoption of IoT and increasing disposable income are some of the prominent factors which will boost the product demand in consumer electronics sub segment.
By region, global Lithium and Lithium Ion Battery Electrolytes Market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. In Asia-Pacific region especially China is anticipated to witness the robust growth in the Lithium and Lithium Ion Battery Electrolytes Market during the forecast period as manufactures of Lithium and Lithium Ion Battery Electrolytes are increasing their manufacturing units which is a positive sign for the growing consumption of Lithium and Lithium Ion Battery Electrolytes. North America, Europe and Japan are expected to witness the substantial increase in the Lithium and Lithium Ion Battery Electrolytes consumption during the forecast period on the account of the launch of electric vehicles in this region which in turn is anticipated to lead the lithium and lithium ion battery electrolytes consumption.
Our in-depth analysis segmented the Global Lithium and Lithium Ion Battery Electrolytes Market in the following segments:
By Lithium Salts:
By Physical Form:
By End-Use Industry:
Global Lithium and Lithium Ion Battery Electrolytes Market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Automotive manufactures are more focused on manufacturing vehicles which utilize plug-in hybrid electric vehicles, including hybrid electric vehicles and battery electric vehicles and electric drivetrains, which is leading to the growth of lithium and lithium ion battery electrolytes market. Growing use of consumer laptops, smart phones, computers and other electronic goods is increasing the consumption of Lithium and Lithium ion batteries which in turn is driving the lithium and lithium ion battery electrolyte market. Stringent government guidelines on industrial sector and automotive sector for carbon emission forcing manufacturers to incline towards lithium ion battery for industrial applications and automobiles which is anticipated to lead to the growth of lithium and lithium ion battery electrolytes market during the forecast period of time.
LiBF4 is difficult to handle on the negative side LiClO4 is explosive etc. and on the account of this nature displayed by electrolytes it is expected that it can pose restraint in the growth of Lithium and Lithium Ion Battery Electrolytes Market during the forecast period. The high cost Lithium and Lithium Ion batteries prompting the use of substitute materials in end use sectors is also expected to restrain the battery electrolyte market.
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