USD 1.58 billion
Battery Additives Market Size, Share, Growth Analysis, By Type(Conductive Additive, Porous Additive), By Application (Lead Acid, Li-ion)By End User(Automotive, consumer electronics, energy storage, and industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2320 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
77
Battery Additives Market Insights
Global Battery Additives Market size was valued at USD 1.72 billion in 2022 and is poised to grow from USD 1.82 billion in 2023 to USD 3.67 billion by 2031, growing at a CAGR of 8.8% during the forecast period (2024-2031).
The market for battery additives has experienced rapid growth in recent years and is predicted to keep growing in the years to come. Battery additives are chemical compounds used to enhance the performance and efficiency of batteries by improving their power output, cycle life, and safety.
The market is driven by several key factors, including the increasing demand for batteries in various end-use industries such as automotive, electronics, and renewable energy storage. The rapid growth of electric vehicles (EVs) and the need for advanced energy storage systems are major drivers of the battery additives market.
Battery additives play a crucial role in addressing key challenges faced by batteries, including capacity degradation, low thermal stability, and poor safety. By incorporating additives, manufacturers can improve battery performance, extend their lifespan, and enhance safety features.
Moreover, stringent regulations and environmental concerns have fueled the demand for high-performance, environmentally friendly battery solutions, further driving the adoption of battery additives.
The market is characterized by continuous research and development activities aimed at developing innovative additives that can improve battery performance, reduce costs, and support sustainable energy solutions.
Continuous research and development efforts, strategic collaborations, and technological advancements will further shape the market, making battery additives a critical component in addressing the evolving needs of energy storage and clean transportation.
US Battery Additives Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Conductive
Fastest Growth
Conductive
Growth Rate
8.8% CAGR
Global Battery Additives Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Battery Additives Market Segmental Analysis
Global Battery Additives Market is segmented by Type, by application, by End User and by Region. Based on component, the market is segmented into Conductive Additive, Porous Additive, Nucleating Additive. Based on application, the market is segmented into Lead Acid, Li-ion, Others (nickel-metal hydride and nickel-cadmium). Based on End User, the market is segmented into Electronics, Automotive, Energy storage, industrial, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Battery Additives Market Analysis by Type
The conductive additives segment is the dominant segment of the market, accounting for a market share of over 60% in 2022. The conductive additives segment is expected to continue to dominate the market in the coming years, driven by the increasing demand for batteries in portable electronic devices. There are a number of large companies that are active in the market. These companies are investing heavily in research and development, and are developing new battery additives that are driving the growth of the market.
The electrical additives segment is the fastest-growing segment of the market, and is expected to grow at a CAGR of 7.5%. The electrical additives segment is driven by the increasing demand for batteries in electric vehicles and energy storage systems.
Battery Additives Market Analysis by End User
The automotive segment is the dominant segment of the market, accounting for a market share of over 40% in 2022. The automotive segment is expected to continue to be the dominant segment of the market during the forecast period, driven by the increasing demand for electric vehicles.
The consumer electronics segment is the fastest-growing segment of the market, and is expected to grow at a CAGR of 7.5%. The consumer electronics segment is driven by the increasing demand for portable electronic devices, such as smartphones, tablets, and laptops.
Global Battery Additives Market By Type
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Battery Additives Market Regional Insights
Due to the growing usage of portable devices and automotive applications in developing countries like China, India, and Japan, the Asia Pacific region is considered to have the greatest market. Growing end-use sectors, rising disposable incomes, and a growing population have all encouraged innovation and development, which has helped the area to prosper. According to the International Energy Agency (IEA), China purchases more than half of the new electric vehicles sold worldwide, making it both the largest producer and the largest market for automobiles globally. However, according to the China Association of Automobile Manufacturers (CAAM), 601,000 NEVs were sold in the first three quarters of 2018 and China was responsible for nearly 35% of all electric vehicles sold globally.
The North American battery additives business is expanding as a result of the contributions made by the industrialized economies of the United States and Canada. Due to the improved performance and longevity of lead-acid batteries, regional powerhouses like Battery Equalizer help to increase the number of cars sold in these two nations. Since batteries are used as a form of energy storage in solar off-grid power systems, the region's market for lead-acid batteries will be driven by the region's growing installation of such systems.
Global Battery Additives Market By Geography
- Largest
- Fastest
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Battery Additives Market Dynamics
Battery Additives Market Drivers
Advancements In Battery Technologies
- The growing demand for batteries across various industries, including automotive, electronics, and renewable energy, is a major driver for the battery additives market. The rising adoption of electric vehicles (EVs), portable electronics, and grid energy storage systems fuels the need for high-performance batteries, driving the demand for additives to enhance battery efficiency and performance.
- Continuous advancements in battery technologies, such as lithium-ion batteries, have expanded the applications and requirements of batteries. Battery additives play a crucial role in addressing the limitations of batteries, such as capacity degradation, low thermal stability, and safety concerns. The development of additives that improve battery performance, cycle life, and safety has become a key focus for manufacturers.
Battery Additives Market Restraints
Environmental Concerns
- Some battery additives may have environmental implications, particularly when it comes to disposal and recycling processes. Proper management of waste and recycling of batteries containing additives require adherence to regulations and sustainability practices. Environmental concerns associated with certain additives can pose challenges to market growth.
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Battery Additives Market Competitive Landscape
These players operate globally and are actively involved in the production and supply of battery additives. They strive to develop innovative solutions that enhance battery performance, improve safety, and support sustainable energy storage. The competitive landscape of the market is characterized by intense competition, product advancements, strategic collaborations, and mergers and acquisitions as companies seek to strengthen their market presence and expand their customer base.
Battery Additives Market Top Player’s Company Profiles
- Cabot Corporation
- 3M Company
- Hammond Group, Inc.
- Imerys Graphite & Carbon
- HEC Group
- Asahi Kasei Corporation
- Arkema Group
- BASF SE
- Clariant AG
- Mitsubishi Chemical Corporation
- Solvay SA
- TOYOBO Co., Ltd.
- Dow Inc.
- Zeon Corporation
- Umicore SA
- Eastman Chemical Company
- Lion Corporation
- Toray Industries, Inc.
- Johnson Matthey PLC
- Huntsman Corporation
Battery Additives Market Recent Developments
- In March 2023, The Chemours Company announced the launch of its new battery additive, Chemours Everlast. Chemours Everlast is a high-performance additive that is designed to improve the performance and lifespan of lithium-ion batteries.
- In February 2023, Clariant AG announced the launch of its new battery additive, Clariant E-Flow. Clariant E-Flow is a low-cost additive that is designed to improve the performance and lifespan of lithium-ion batteries.
- In January 2023, BASF SE announced the launch of its new battery additive, BASF HybRecell. BASF HybRecell is a high-performance additive that is designed to improve the performance and lifespan of lithium-ion batteries.
Battery Additives Key Market Trends
Shift Towards Sustainable And Eco-Friendly Additives
- Environmental sustainability is gaining prominence in the battery industry. There is a growing focus on developing battery additives that are eco-friendly, non-toxic, and recyclable. The market is witnessing a shift towards bio-based additives, as well as additives that minimize the use of harmful chemicals. This trend aligns with the broader sustainability goals of the battery industry and regulatory requirements regarding the disposal and recycling of batteries.
Battery Additives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the global battery additives market has experienced significant growth in recent years and is expected to continue expanding at a steady pace. Battery additives are chemical compounds used to enhance the performance, efficiency, and safety of batteries. Several factors contribute to the growth of the market, including the increasing demand for batteries in various industries such as automotive, electronics, and renewable energy storage. Continuous research and development, strategic collaborations, and technological advancements will further shape the market, making battery additives a vital component in meeting the evolving needs of energy storage and sustainable transportation.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.72 billion |
| Market size value in 2031 | USD 3.67 billion |
| Growth Rate | 8.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Battery Additives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Battery Additives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Battery Additives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Battery Additives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Battery Additives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Battery Additives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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