Global Battery Additives Market

Battery Additives Market Size, Share, Growth Analysis, By Type(Antibody Conductive, Porous), By End User(Automotive, consumer electronics) - Industry Forecast 2024-2031

Report ID: SQMIG15A2320 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 77

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FAQs

Battery Additives Market size was valued at USD 1.58 billion in 2021 and is poised to grow from USD 1.72 billion in 2022 to USD 3.10 billion by 2030, at a CAGR of 8.8% during the forecast period (2023-2030).

These players operate globally and are actively involved in the production and supply of battery additives. They strive to develop innovative solutions that enhance battery performance, improve safety, and support sustainable energy storage. The competitive landscape of the market is characterized by intense competition, product advancements, strategic collaborations, and mergers and acquisitions as companies seek to strengthen their market presence and expand their customer base. 'Cabot Corporation (United States)', '3M Company (United States)', 'Hammond Group, Inc. (United States)', 'Imerys Graphite & Carbon (Switzerland)', 'HEC Group (China)', 'Asahi Kasei Corporation (Japan)', 'Arkema Group (France)', 'BASF SE (Germany)', 'Clariant AG (Switzerland)', 'Mitsubishi Chemical Corporation (Japan)', 'Solvay SA (Belgium)', 'TOYOBO Co., Ltd. (Japan)', 'Dow Inc. (United States)', 'Zeon Corporation (Japan)', 'Umicore SA (Belgium)', 'Eastman Chemical Company (United States)', 'Lion Corporation (Japan)', 'Toray Industries, Inc. (Japan)', 'PolyOne Corporation (United States)', 'Johnson Matthey PLC (United Kingdom)', 'Huntsman Corporation (United States)', 'Wacker Chemie AG (Germany)'

The growing demand for batteries across various industries, including automotive, electronics, and renewable energy, is a major driver for the battery additives market. The rising adoption of electric vehicles (EVs), portable electronics, and grid energy storage systems fuels the need for high-performance batteries, driving the demand for additives to enhance battery efficiency and performance.

Environmental sustainability is gaining prominence in the battery industry. There is a growing focus on developing battery additives that are eco-friendly, non-toxic, and recyclable. The market is witnessing a shift towards bio-based additives, as well as additives that minimize the use of harmful chemicals. This trend aligns with the broader sustainability goals of the battery industry and regulatory requirements regarding the disposal and recycling of batteries.

Due to the growing usage of portable devices and automotive applications in developing countries like China, India, and Japan, the Asia Pacific region is considered to have the greatest market. Growing end-use sectors, rising disposable incomes, and a growing population have all encouraged innovation and development, which has helped the area to prosper. According to the International Energy Agency (IEA), China purchases more than half of the new electric vehicles sold worldwide, making it both the largest producer and the largest market for automobiles globally. However, according to the China Association of Automobile Manufacturers (CAAM), 601,000 NEVs were sold in the first three quarters of 2018 and China was responsible for nearly 35% of all electric vehicles sold globally.

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Global Battery Additives Market

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