Battery Additives Market 2020 Booming by Size, Share, Trends and Top Key Players 2028
According to the report by Quince Market Insights, the Global Battery Additives Market is expected to promise high growth owing to the increasing demand for li-ion batteries in consumer electronic applications in recent years. Increasing demand from applications including a lithium-ion battery, lead-acid battery, and other applications is expected to drive market growth.
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As batteries function, the chemical process causes the accumulation (sulfation) of crystals. These crystals slowly erode the ability of the battery to charge and discharge, and cause the output capacity of the battery to decrease over time. Also, shading of the battery plate coating occurs because of the chemical process in the battery. Sedimentation occurs at the bottom of the battery due to shading, which causes a short circuit of the battery. Battery additives enable normal batteries to achieve optimum performance and extend battery life by almost 100 percent for refurbished batteries. If the battery is kept well during its operating life, the effect of the additives will be greater and the battery life will be increased.
Segmentation for better understanding of this market and its growth prospects
The lead-acid segment accounted for the largest market share of battery additives, based on the application. Lead-acid batteries are traditional automotive batteries used to start the engine, telephone and computer center backup power supplies, grid energy storage, and household electric power systems off-grid. Lead-acid batteries are also used in emergency lighting and when a power failure occurs pumps are powered up. However, there is expected to be a significant increase in demand for lithium-ion batteries, as these batteries are widely used in various applications, including smartphones, tablets, laptops, wearable devices, and other home applications. Also, the market for Li-ion batteries is expected to expand with the rise in disposable income and the high penetration of smartphones globally. Battery additives used in the li-ion batteries enhance the storage stability, safety and improve battery performance.
Due to the high demand for battery additives in developing economies, such as China and India, the Asia Pacific is expected to lead the battery additives market during the forecast period. The growth of the market for battery additives in the Asia Pacific region can be attributed to their high demand in portable devices and apps for electric vehicles. Also, the increasing population and growing end-user industries have resulted in the region’s market for battery additives growing.
Due to the high adoption of electric vehicles to counter environmental degradation this market in North America and Europe is expected to witness growth.
Important Factors Impacting Market Growth:
o Increasing demand for li-ion batteries in consumer electronic applications
o High adoption of hybrid electric vehicles (HEV), plug-in electric vehicles (PHEV), and electric vehicles
o Increasing investments in renewable energy
o Underdeveloped support infrastructure for electric vehicles
o Stringent safety issues related to batteries
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Significant Developments:
o In October 2015, LG Chem Ltd (South Korea) completed the construction of its new battery manufacturing plant for electronic vehicles in Nanjing, China.
o In February 2016, Cabot Corporation (US) launched a new conductive additive, LITX 300, for Li-ion battery. This new additive is easy to disperse as well as incorporate in the Li-ion battery manufacturing process. It also improves conductivity, flexibility, and shelf life of Li-ion batteries.
o In October 2016, LG Chem (South Korea) inaugurated an automotive battery manufacturing plant in Poland to expand and strengthen its market presence.
o In January 2017, IMERYS (France) started manufacturing graphite in Namibia, 13 months after the new Otjiwarongo mine became operational. This was to cater to the increasing demand for graphite, as the sales of electric and hybrid vehicles increased significantly in the previous year.
o In November 2018, Orion Engineered Carbons (Luxembourg) acquired acetylene carbon black manufacturer, Socit du Noir d’Actylne de l’Aubette. This acquisition added acetylene carbon black to its product portfolio, which is used for Li-ion batteries and high-end electrical cables manufacturing.
Based on the region, the battery additives market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World.
Companies Covered: 3M Co., Cabot Corporation, Hammond Group, Colonial Chemical Corp., Orion Engineered Carbons, Altana AG, Zircon Industries, Atomized Products Group Inc., Prince International Corporation, and SGL Group
Market Segmentation:
By Type:
o Porous
o Conductive
o Nucleating
By Application:
o Lithium-ion Battery
o Lead-acid Battery
o Others
By End-use Industry:
o Automotive
o Electronics
o Others
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o By End-Use Industry
o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Type
o By Application
o By End-Use Industry
o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o By End-Use Industry
o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Type
o By Application
o By End-Use Industry
o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Type
o By Application
o By End-Use Industry
o Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Type
o By Application
o By End-Use Industry
Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 – 9850603687 / 7972869557
Email: [email protected]
Web: www.quincemarketinsights.com
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