Global Electrolyte Additives Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030
Battery performance and safety concerns are related to the characteristics of the electrolyte used. To improve the performance of the electrolyte, small amounts of other ingredients are added, called electrolyte additives. The use of electrolyte additives is one of the most economical and efficient ways to tune the performance of Li-ion batteries according to the desired function. Usually, the amount of electrolyte additives is generally less than 10% by weight or volume. A low content of electrolyte additives can adapt to various usage situations without sacrificing energy density and effectively improve the long-term cycle performance of lithium-ion batteries.
Market Overview:The latest research study on the global Electrolyte Additives market finds that the global Electrolyte Additives market reached a value of USD 987.85 million in 2023. It’s expected that the market will achieve USD 2715.03 million by 2029, exhibiting a CAGR of 18.35% during the forecast period.
Importance and benefits of electrolyte additives
Lithium-ion battery electrolyte is generally prepared from high-purity organic solvents, electrolytes, additives and other materials in a certain proportion under certain conditions. The role of the lithium-ion battery electrolyte is to form a good ion-conducting channel between the positive and negative electrodes inside the battery. Its indicators directly determine the energy density, power density, cycle life, safety performance, and wide-temperature application of the lithium-ion battery. Lithium-ion batteries are guaranteed with advantages such as high voltage and high specific energy. Electrolyte additive is one of the important raw materials of electrolyte. Electrolyte additives help to improve the energy density, cycle performance, rate performance, low-temperature performance and safety performance of lithium batteries. Additives have various formulas and are mainly customized products, which are the key link in the differentiation of electrolytes. With the development of lithium batteries in the direction of high voltage and high nickel, the formulation of the required electrolyte, especially the use of additives, is becoming more and more complicated. Electrolyte additives have become the core raw materials for improving the performance of high-nickel battery electrolytes, and their importance has become increasingly significant. In the current application, the penetration rate of VC and FEC is relatively high, and the two together account for more than 60% of the electrolyte additives, which is the focus of the vertical industrial chain layout of various enterprises. In recent years, with the continuous expansion of downstream industries such as the lithium battery industry and new energy vehicles, and the improvement of safety, cycle life and energy density requirements of lithium batteries, the demand for additives has increased year by year.
Increased downstream demand
The downstream of electrolyte additives is the lithium-ion battery electrolyte production industry. According to the application field, lithium-ion batteries are mainly divided into three categories: power batteries, consumer batteries, and energy storage batteries. The sales of new energy vehicles affect the installed capacity of power batteries, thereby affecting the market demand for power battery electrolytes. In recent years, the trend of global automobile electrification has accelerated, and the penetration rate of new energy vehicles has continued to increase, driving the rapid increase in the installed capacity of power batteries. Electric bicycles and low-speed electric vehicles will also increasingly use lithium-ion batteries to replace traditional lead-acid batteries. The cost of batteries is one of the main factors affecting the penetration rate of electric vehicles in the short term. Although the current subsidy declined and the demand for cost reduction increased, the growth rate of power batteries has declined slightly. However, under the advantages of future technological progress and large-scale production, the cost of new energy vehicles and batteries will continue to decline. In the field of consumer electronics, although the current smartphone market is gradually becoming saturated, with the rise of emerging electronic products such as wearable devices, electronic cigarettes, drones, and wireless Bluetooth speakers, consumer batteries still have a wide range of application scenarios. In addition, the development of 5G technology and large-scale commercial applications also put forward new requirements for the battery life and charging speed of consumer batteries, which are expected to stimulate the replacement demand in the consumer battery market. At present, the energy storage electrolyte market is relatively small, but the growth rate is fast. The energy storage battery is one of the important means to solve the intermittent fluctuation of wind power and photovoltaic power generation. Grid energy storage, base station backup power supply, home optical storage system, electric vehicle optical storage charging station, etc. all have a large room for growth. Therefore, the huge potential of the downstream application market will promote the vigorous development of the lithium-ion battery material industry, which also includes the development of the electrolyte additive industry.
Region Overview:In 2022, the share of the Electrolyte Additives market in China stood at 45.63%.
Company Overview:The major players operating in the Electrolyte Additives market include HSC, CAPCHEM, Suzhou huayi new energy technology Co. LTD, NIPPON SHOKUBAI CO., LTD, Shanghai Chemspec Corporation, etc. Among which, HSC ranked top in terms of sales and revenue in 2023.
The HSC company is a high-tech enterprise focusing on the R&D, production and sales of electrolyte additives for lithium-ion batteries. The company's products mainly include two series of electronic chemicals and special organic silicone, which have highly covered China's domestic market and are exported to Japan, South Korea, the United States, Europe, Southeast Asia and other countries and regions. In the field of electronic chemicals, our company is one of the leading suppliers of vinylene carbonate (VC) and fluoro ethylene carbonate (FEC) in the market. Its products are widely used in new energy vehicles, electric two wheeled vehicles, electric tools, UPS power supply, the power supply of mobile base stations, photovoltaic power stations, 3C products and other fields. In the field of special organic silicone, the company is one of the few manufacturers with the technology of isocyanate silane with non-phosgene production . With its leading technical advantages, excellent product quality and excellent after-sales service, our company has enjoyed a good reputation among customers at home and abroad.
Segmentation Overview:By type, Vinyl Carbonate (VC) segment accounted for the largest share of market in 2022.
Application Overview:By application, the Power Electrolyte segment occupied the biggest share from 2018 to 2022.
Key Companies in the global Electrolyte Additives market covered in Chapter 3:HSC
Shanghai Chemspec Corporation
BroaHony
Tinci Materials Technology Co., Ltd
Chunbo Fine Chem Co., Ltd
Qing Mu High-Tech Materials Co., Ltd
FuJianChuangXin Science and Develops Co., LTD
CAPCHEM
NIPPON SHOKUBAI CO., LTD
Suzhou huayi new energy technology Co. LTD
In Chapter 4 and Chapter 14.2, on the basis of types, the Electrolyte Additives market from 2019 to 2030 is primarily split into:Vinyl Carbonate (VC)
Fluorinated Ethylene Carbonate (FEC)
1,3-Propanesultone (1,3-PS)
Vinylethylene Carbonate (VEC)
Lithium Difluorophosphate (LiPO2F2)
Lithium tetrafluoroborate (LiBF4)
Lithium bis(oxalato)borate (LiBOB)
Lithium bis(fluorosulfonyl)imide (LiFSI)
1,3,6-hexanetricarbonitrile (HTCN)
Poly(sulfur-random-triallylamine) (PST)
1,3,2-dioxathiolane 2,2-dioxide (DTD)
Others
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electrolyte Additives market from 2019 to 2030 covers:Power Electrolyte
Consumer Electrolyte
Energy Storage Electrolyte
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)