Market Size of Lithium-ion Battery's Electrolyte Solvent Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 21.50 % |
Fastest Growing Market | Europe |
Largest Market | Asia-Pacific |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Lithium-Ion Battery Electrolyte Solvents Market Analysis
The lithium-ion battery's electrolyte solvent market is expected to record a CAGR of more than 21.5% during the forecast period.
The COVID-19 pandemic had a negative impact on the market, owing to the lockdown in various countries across the world led to supply chain constraints that significantly obstructed the expansion of the industry. Moreover, the production of automobiles and electronics observed a temporary halt which led to a decrease in demand for its major end-user industries. However, with improvement in the pandemic situation and the restart of automobile and electronic production operations, the market is now estimated to have reached pre-pandemic levels, and it is expected to grow steadily during the forecast period.
- The increasing demand from electric vehicle manufacturers and growing demand from smartphone manufacturers are likely to drive the demand for lithium-ion battery's electrolyte solvents.
- On the flip side, potential hazards caused by using impure electrolyte solvent is expected to hinder the growth of the market.
- Factors like emerging technologies in the production of non-flammable solvents and the increasing scope of lithium-ion batteries in aerospace applications are likely to offer numerous opportunities to the manufacturers during the forecast period.
- Asia-Pacific accounted for the largest share across the world, with China clearly dominating the global demand.
Lithium-Ion Battery Electrolyte Solvents Industry Segmentation
Electrolytes are vital components of an electrochemical energy storage device. They are usually composed of a solvent or mixture of solvents and a salt or a mixture of salts, which provide the appropriate environment for ionic conduction. The lithium-ion battery's electrolyte solvent market report is segmented by solvent type, application, and geography. By solvent type, the market is segmented into, ethylene carbonate, diethyl carbonate, dimethyl carbonate, ethyl methyl carbonate, propylene carbonate, and other solvent types. By application, the market is segmented into application power backups/UPS, mobile, laptops, and other commonly used consumer electronic goods, electric mobility/vehicles, energy storage systems, and other applications. The report also covers the size and forecasts for the lithium-ion battery's electrolyte solvent market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
Solvent Type | |
Ethylene Carbonate (EC) | |
Diethyl Carbonate (DEC) | |
Dimethyl Carbonate (DMC) | |
Ethyl Methyl Carbonate (EMC) | |
Propylene Carbonate (PC) | |
Other Solvent Types |
Application | |
Power Backups/UPS | |
Mobile, Laptops, and Other Commonly Used Consumer Electronic Goods | |
Electric Mobility/Vehicles | |
Energy Storage Systems | |
Other Applications |
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Lithium-ion Battery's Electrolyte Solvent Market Size Summary
The lithium-ion battery electrolyte solvent market is poised for significant growth, driven by the increasing demand from electric vehicle and smartphone manufacturers. The market, which faced challenges during the COVID-19 pandemic due to supply chain disruptions and a temporary decline in production across key industries, has rebounded to pre-pandemic levels. The resurgence in automobile and electronics production has spurred demand, with Asia-Pacific leading the charge, particularly China, which dominates global demand. The market's expansion is further supported by advancements in non-flammable solvent technologies and the growing application of lithium-ion batteries in aerospace, presenting numerous opportunities for manufacturers.
Electric mobility vehicles represent the fastest-growing application within this market, attributed to the high power-to-weight ratio and energy efficiency of lithium-ion batteries, which enhance vehicle performance. The solvent's role in adjusting electrolyte concentration and improving lithium-ion mobility is crucial for optimizing battery performance in vehicles. Despite potential hazards from impure solvents posing challenges, the market is expected to benefit from government policies promoting electric vehicles and investments in eco-friendly materials. Major industry players, including UBE Corporation and Lotte Chemical, are actively expanding production capabilities to meet the rising demand for high-purity organic solvents essential for lithium-ion battery electrolytes.
Lithium-ion Battery's Electrolyte Solvent Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Electric Vehicle Manufacturers
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1.1.2 Growing Demand from Smartphone Manufacturers
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1.2 Restraints
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1.2.1 Potential Hazards Caused by Using Impure Electrolyte Solvents
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Solvent Type
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2.1.1 Ethylene Carbonate (EC)
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2.1.2 Diethyl Carbonate (DEC)
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2.1.3 Dimethyl Carbonate (DMC)
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2.1.4 Ethyl Methyl Carbonate (EMC)
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2.1.5 Propylene Carbonate (PC)
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2.1.6 Other Solvent Types
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2.2 Application
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2.2.1 Power Backups/UPS
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2.2.2 Mobile, Laptops, and Other Commonly Used Consumer Electronic Goods
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2.2.3 Electric Mobility/Vehicles
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2.2.4 Energy Storage Systems
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 France
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2.3.3.3 United Kingdom
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Lithium-ion Battery's Electrolyte Solvent Market Size FAQs
What is the current Lithium-ion Battery's Electrolyte Solvent Market size?
The Lithium-ion Battery's Electrolyte Solvent Market is projected to register a CAGR of greater than 21.5% during the forecast period (2024-2029)
Who are the key players in Lithium-ion Battery's Electrolyte Solvent Market?
UBE Corporation, Kindun Chemical Co., Limited, OUCC, Dongwha Electrolyte and Shenzhen Capchem Technology Co. Ltd. are the major companies operating in the Lithium-ion Battery's Electrolyte Solvent Market.