Market Overview
to 2023:
Battery
additives are the key components of the batteries, which regulate the
functioning of the battery and boost their power performance. Battery additives
such as conductive additives, porous additives, and nucleating additives are
used in the batteries to increase the charge holding capacity and rate of
charging.
The battery
additives are used in different kinds of batteries such as lithium-ion
batteries (Li-ion) and Lead-Acid batteries. Lithium-ion batteries are largely
used in consumer electronics applications such as mobile phones, smart watches,
and rechargeable batteries. They consist of four components, namely electrode,
cathode, anode, and separator. Battery additives are used in the electrodes,
which act as conducting medium between the cathode and anode. The increasing
use of smartphones and rechargeable batteries are contributing to the growth of
lithium-ion batteries, which in turn is expected to boost the demand for and
sale of battery additives.
In addition, the rising
demand for rechargeable batteries for use in military & defense, in remote
areas and the areas with the absence of electricity are contributing to the
growth of the battery market. This factor is also expected to be the major
contributor to the growth of the global battery additives market. Additionally,
the increasing adoption of plug-in hybrid electric vehicles (PHEVs), hybrid
electric vehicles (HEVs), and electric vehicle (EVs) in the automotive industry
is expected to fuel the growth of the global battery additives market.
Furthermore, technological
advancements in the lithium-ion batteries are expected to create growth
opportunities for the players operating in the global battery additives market
during the forecast period. However, safety issues related to the battery
additives are slightly limiting their demand, which it is expected to retrain
the growth of the global battery additives market during the review period.
The global battery additives
market is projected to reach USD 1.9 billion by 2023, at a CAGR of 9.1%.
Market
Players:
- Cabot Corporation
- 3M
- Imerys
- Hammond
- SGL Carbon
- Borregaard
- HOPAX
- PENOX
- ALTANA
- US Research
Nanomaterials, Inc.
Segmental Analysis:
The global
battery additives market has been segmented on the basis of type, application,
and region.
By type,
the global battery additives market has been classified into conducting
additive, porous additive, and nucleating additive.
Based on
application, the global battery additives market has been divided into Li-ion
batteries and lead-acid batteries. The Li-ion batteries segment is further
sub-segmented into industrial application, portable devices, EVs, and others.
Regional
Analysis:
The global
battery additives market has been analyzed across five regions, namely
Asia-Pacific, North America, Europe, Latin America, and the Middle East &
Africa. The Asia-Pacific market accounted for largest share in the global
battery additives market. While the North American held the second-largest
share, owing to the increasing use of smartphones and EVs in the region. Europe
is expected to witness high demand for Li-ion batteries, owing to its portable
use and growing adoption in the manufacturing of smartphones. The Latin
American market is expected to witness remarkable growth during the forecast
period, due to the growing demand for lead acid batteries in the automotive
industry in the region. However, the Middle East & Africa is projected to
show sluggish growth during the review period.
Intended
Audience:
- Battery Additives
Manufacturers
- Raw Material Suppliers
- Li-Ion Battery
Manufacturers
- Lead-Acid Battery
Manufacturers
- Traders and Distributors
of Battery Additives
- Research and Development
Laboratories
- Nationalized
Laboratories
Get Complete Research Report @ https://www.marketresearchfuture.com/reports/battery-additives-market-7521
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