Global Battery Additives Market: Introduction
Electricity consumption and storage is continuously increasing over the forecast period leading to the requirement of batteries as energy storage devices. To enhance the increased demand from end-users and to develop efficient batteries, battery additives play a crucial role. Battery additives are non-corrosive and non-flammable compounds, extending both life expectancy and performance of batteries. On the basis of materials, battery additives can be classified as – boron-containing battery additives, electrolyte battery additives, ionic liquid battery additives, sulfur-containing battery additives, etc. The chief purpose of battery additives to enhance conductivity levels in the battery electrolyte as well as prolong the functioning of electrodes
Battery additives are widely used in numerous type of batteries including – lithium ion batteries, nickel metal hydride batteries, nickel ion batteries etc. Moreover, it finds a wide range of applications in various end-use industries such as electronics, automotive, and other industrial applications.
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Global Battery Additives Market: Market Dynamics
The battery additives market will evolve over the forecasted years due to its multiple advantages of safety, durability, portability, indispensable for cell performance, and comfort liability. These superior properties of battery additives anticipated to fuel the global market by the end of the forecast period.
The sudden boost in demand for electricity generation and capacity addition by deploying green energy solutions such as solar, hydropower, etc. will be estimated to give a push to the battery additives market at the regional level. Moreover, high growth in end-use applications such as automotive, smartphones, communication devices capable of incorporating the use of multiple devices, such as cameras, MP3s, DVDs, GPS navigators, etc.
This factor will positively impact on the global battery additives market. For instance, global smartphone consumption is expected to grow with a CAGR of 7% during 2015–2018 and sales of smartphone is expected to account for 97% of the total mobile sales by the end of 2018
In October 2015, the LG Chem Ltd. – a South Korea based firm providing electronic materials has completed the construction of its new battery manufacturing plant for electronic vehicles in Nanjing, China. Further, In October 2016, LG Chem inaugurated an automotive battery manufacturing plant in Poland to expand and strengthen its market presence. This kind of organic growth across the battery manufacturers will act as key trend for global battery additives market over forecasted period
Global Battery Additives Market: Market Segmentation
Global battery additives market can be segmented on the basis of product type, applications, end-use, and regions. On the basis of product type, global battery additives market can be segmented as mentioned below:
- Boron-Containing Additives
- Carbonate Additives
- Ionic Liquid Additives
- Electrolyte Additives
- Sulfur-Containing Additives
- Others
On the basis of application, global battery additives market can be segmented as mentioned below:
- Industrial Batteries
- Portable Batteries
- Automotive Batteries
On the basis of end-use, global battery additives market can be segmented as mentioned below:
- Electronics
- Automotive
- Others
Global Battery Additives Market: Regional Outlook
Geographically, battery additives market is depend upon the production of batteries produced in the particular region. North America booming at high growth rate in term of global automotive market from past few years. The increasing automotive production rate expected to rise demand for the calendar life batteries, in turn, battery additives market is continue to grow at healthy growth rate in North America region.
Further, Europe and Middle East & Africa have enormous amount of disposable income, thus there is continuous investment in smart home technologies in these regions. Owing to this, the battery additives market expected to achieve new heights in Europe and MEA. Furthermore, increasing urbanization in South Asia and East Asia Pacific regions will anticipated to upsurge the demand for battery additives market over the forecast period
Global Battery Additives Market: Industry Participants
Few key players are identified across the value chain of global battery additives market which is as mentioned below:
- Prince International Corporation
- Re-Tron Technologies
- MSC Industrial Supply
- GetSome Products LLC
- PENOX GmbH
- Atomized Products Group, Inc.
- OCSiAl
- Zircon Industries
- Cabot Corporation
- 3M
- SGL Group
- Tab-pro LLC
- US Research Nanomaterials, Inc.
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