Global Lithium Ion Battery Electrolyte Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lithium Ion Battery Electrolyte Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Electrolyte plays a key role in transporting the positive lithium ions between the cathode and anode. High purity electrolytes are a core component of Li-ion batteries. The most commonly used electrolyte is comprised of lithium salt, such as LiPF6 in an organic solution. Li-ion batteries use an intercalated lithium compound as one electrode material, compared to the metallic lithium used in a non-rechargeable lithium battery.

Market Overview:

The latest research study on the global Lithium Ion Battery Electrolyte market finds that the global Lithium Ion Battery Electrolyte market reached a value of USD 2403.44 million in 2022. It’s expected that the market will achieve USD 5876.99 million by 2028, exhibiting a CAGR of 16.07% during the forecast period.

Product technical defect

The liquid organic electrolyte is less polluted and can provide a stable source of lithium ions, so that it can be developed rapidly, but the liquid organic electrolyte is compatible with the positive and negative electrodes and decomposes under harsh conditions such as abuse to generate gas, resulting in destruction of the battery structure. In severe cases, even explosions and fires occur. Therefore, it is necessary to improve on the basis of the liquid organic electrolyte.

Alternative threat

Lithium-ion batteries are a type of lithium battery. In the long run, the gradual improvement and mass production of new battery performance will also pose a certain threat to lithium-ion batteries. For example, the lithium amino battery being developed uses silicon-substituted graphite as the anode material, which greatly increases battery capacity, performance and service life. At the same time, Japanese and American scientists are still improving the performance of batteries such as aluminum, magnesium and sodium. Therefore, for manufacturers of lithium-ion battery electrolytes, the threat of alternatives cannot be ignored.

Downstream demand continues to grow

The battery storage market has broad prospects. On the one hand, the demand for lithium battery energy storage functions in electronic products is not diminished. On the other hand, energy storage is increasingly expanding the demand for lithium battery energy storage. For example, the California 45MW/180MWh lithium battery energy storage project is scheduled to be put into operation in 2021, and the largest industrial energy storage facility in Europe is opened in Belgium, EDF. The company plans to develop 10GW energy storage projects on a global scale in 2035. Therefore, as one of the necessary conditions for the normal operation of lithium batteries, the market prospects and market demand for lithium battery electrolytes are very broad.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (42.82% in 2022).

Company Overview:

Mitsubishi Chemical is one of the major players operating in the Lithium Ion Battery Electrolyte market, holding a share of 13.2% in 2023.

Mitsubishi Chemical

Mitsubishi Chemical Corporation manufactures chemical products. The Company develops, produces, and sells performance products, health care products, industrial materials, and other chemicals. Mitsubishi Chemical provides services for construction, medical, energy, and petrochemical fields.

Shenzhen Capchem

Shenzhen Capchem Technology Co., Ltd. (CAPCHEM) is a company specializing in electronic chemicals and functional materials. CAPCHEM products mainly include lithium battery chemicals, capacitor chemicals, organic fluorine chemicals, semiconductor chemicals and LED sealants.

Segmentation Overview:

By type, Organic Solvent segment accounted for the largest share of market in 2022.

Organic Solvent

Since the potential of the negative electrode of the lithium ion battery is close to that of lithium, it is relatively active and unstable in an aqueous solution system, and it is necessary to use a non-aqueous, aprotic organic solvent as a carrier of lithium ions. Organic solvent used in lithium ion battery 1. Carbonate 2. Carboxylate 3. Ether organic solvent 4. Sulfur-containing organic solvent.

Lithium Salt

The electrolyte lithium salt is a source of lithium ions, which ensures that the battery has enough lithium ions to travel back and forth between the positive and negative electrodes during the charge and discharge cycle, thereby achieving a reversible cycle. Therefore, it is necessary to ensure that no side reaction occurs between the electrode and the electrolyte.

Organic Additive

Additives generally have the following characteristics:
1. Less dosage can improve one or several properties of the battery 2. No side effects on battery performance 3. Good compatibility with organic solvents 4. Relatively low price 5. Non-toxic or less toxic Does not react side by side with other materials in the battery

Application Overview:

By application, the Consumer Electronics segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Lithium Ion Battery Electrolyte market covered in Chapter 3:

Guangzhou Tinci Materials
Xianghe Kunlun Chemical
Shantou Jinguang High-Tech
Dongguan Shanshan Battery Materials
UBE Industries
Tianjin Jinniu Power Sources Material
Panax-Etec
Shenzhen Capchem
Zhuhai Smoothway Electronic Materials
Zhangjiagang Guotai Huarong Chemical New Material
Mitsubishi Chemical
Beijing Institute of Chemical Reagents

In Chapter 4 and Chapter 14.2, on the basis of types, the Lithium Ion Battery Electrolyte market from 2018 to 2029 is primarily split into:

Organic Solvent
Lithium Salt
Organic Additive
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lithium Ion Battery Electrolyte market from 2018 to 2029 covers:

Consumer Electronics
Electric Vehicle
Industrial Energy-storage
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) 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)