PUBLISHER: 360iResearch | PRODUCT CODE: 1496745
PUBLISHER: 360iResearch | PRODUCT CODE: 1496745
[186 Pages Report] The Battery Additive Market size was estimated at USD 2.45 billion in 2023 and expected to reach USD 2.69 billion in 2024, at a CAGR 9.92% to reach USD 4.76 billion by 2030.
Battery additives are chemical compounds introduced into a battery's electrolytic solution or electrode materials to enhance the battery's performance, efficiency, and longevity. Battery additives can impact a range of battery characteristics, including charge capacity, cycle life, rate capability, safety, and storage stability. Significant investments in the production of lead-acid and lithium-ion batteries have improved the demand for battery additives in recent years. In addition, the elevated demand for electric vehicles (EVs) and renewable energy storage systems is propelling the demand for battery additives. Stricter environmental regulations and a heightened global focus on sustainability are accelerating the shift towards more efficient and long-lasting batteries. However, the fluctuating availability and cost of raw materials due to supply chain disruptions can negatively affect the battery additives market. Disposal and recycling of batteries pose environmental and health risks, potentially resulting in stringent regulations that could slow down the penetration of battery additives. Nevertheless, technological advancements in battery design and energy densities, along with the declining cost of lithium-ion batteries, also catalyze the usage of battery additives. Furthermore, the growing proliferation of portable electronics contributes to a sustained demand for advanced battery additives.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 2.45 billion |
Estimated Year [2024] | USD 2.69 billion |
Forecast Year [2030] | USD 4.76 billion |
CAGR (%) | 9.92% |
Regional Insights
The battery additives market in the Americas is rapidly developing due to the strong focus on electric vehicle production and renewable energy storage systems. Customer purchasing behavior is primarily driven by the demand for high-performance and long-lasting batteries, fueling research and investment in advanced additive technologies in the Americas. European Union (EU) countries exhibit a high demand for battery additives, propelled by stringent environmental regulations and the push for a green economy. Consumer needs in the EMEA are geared towards eco-friendly and recyclable battery components in alignment with the EU's Circular Economy Action Plan. The demand for battery additives is emerging in the Middle East, with solar energy storage systems and the nascent electric mobility sector. The Asia Pacific region represents a significant share of the global battery additives market due to the establishment of the battery manufacturing sector, substantial investments in EV infrastructure, and the burgeoning renewable energy sector. The rapid adoption of electric vehicles, portable electronics, and large-scale energy storage solutions drives consumer needs for battery additives in Asia-Pacific.
Market Insights
The market dynamics represent an ever-changing landscape of the Battery Additive Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Battery Additive Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Battery Additive Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Aether Industries Partners With Global Lithium Ion Battery Producer to Foray Into Electrolyte Additives Segment
Aether Industries made a strategic advancement in the battery technology sector, announcing a significant venture into the electrolyte additives domain through a pivotal contract with a global lithium-ion battery manufacturer. This partnership solidifies the commercial supply of a specific electrolyte additive and sets the stage for further negotiations regarding three additional substances. This move further diversifies Aether's distinguished portfolio, already well-established in pharmaceuticals, agrochemicals, material sciences, and more, emphatically following their technological collaboration with Saudi Aramco Tech in convergent polyols. [Published On: 2023-12-19]
Orion Launches Conductive Additive for EV Batteries & Consumer Applications
Orion introduced PRINTEX kappa 10, an advanced conductive additive tailor-made to support the burgeoning lithium-ion battery market, especially in the electric vehicle and energy storage sectors. Developed with cutting-edge furnace technology in Europe, with future production planned for Asia, this new variant enhances Orion's diverse lineup of conductive materials. [Published On: 2023-10-27]
Cabot Corporation Plans to Invest in U.S. Conductive Carbon Additives Capacity for Electric Vehicle Lithium-ion Battery Applications
Cabot Corporation unveiled an ambitious strategy to bolster the battery additive sector by significantly enhancing its conductive carbon additives (CCA) production capability in the United States. With a decisive USD 200 million investment over the next five years, Cabot is setting the stage for amplified CCA output at its Pampa, Texas, facility. This initiative aligns with growing governmental support for a domestic EV battery supply chain and presents an opportunity to leverage various funding incentives. [Published On: 2023-01-26]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Battery Additive Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Battery Additive Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Battery Solution International Ltd., Borregaard ASA, BYK-Chemie GmbH, Cabot Corporation, Daikin Industries, Ltd., Evonik Industries AG, Hammond Group, Inc., Hitachi, Ltd., Hollingsworth & Vose Company, Huawei Technologies Co., Ltd., IMERYS S.A., LG Chem Ltd., Manish Enterprises, OCSiAl, Orion Engineered Carbons S.A., PENOX Group GmbH, Prostaff Co. Ltd., Samsung SDI Co., Ltd., SGL Carbon SE, SK Chemicals, Solvay S.A., Sumitomo Seika Chemicals Company, Limited, Taiwan Hopax Chemicals Mfg. Co., Ltd., Talga Group Ltd., Tokyo Chemical Industry Co., Ltd., Toray Industries, Inc., US Research Nanomaterials, Inc., and Vibrantz Technologies.
Market Segmentation & Coverage
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