Lithium and Lithium Ion Battery Electrolytes Market Share 2021 Strategic Plans by Globally Industry Demand, Regional Overview, Business Growth and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Lithium and Lithium Ion Battery Electrolytes Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lithium and Lithium Ion Battery Electrolytes Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Lithium and Lithium Ion Battery Electrolytes Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Product Overview
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.

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Market Segmentation
Our in-depth analysis segmented the Global Lithium and Lithium Ion Battery Electrolytes Market in the following segments:

By Lithium Salts:
LiTFSI
LiPF6
LiBF4
LiClO4

By Physical Form:
Liquid
Gel

By End-Use Industry:
Industrial Equipment
Consumer Electronic Goods
Automotive Industry

By Region
Global Lithium and Lithium Ion Battery Electrolytes Market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis

Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.

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.

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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.

Key Players
Mitsubishi Chemical
Honeywell UOP
BASF SE
Shandong Shida Shenghua Chemical Group Co., Ltd.
Zhejiang Yongtai Technology Co., Ltd.
Bicon Pharmaceutical Listed Company (Bicon)
Do-Fluoride Chemicals Co Ltd. (Do-Fluoride Chemicals)
Guangzhou Tinci Materials Technology Co., Ltd. (Tinci)
Parad Corporation Pvt Ltd.
Mitsui Chemical
Merck KGaA.

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