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Battery Additives Market Growth Analysis
Battery Additives Market Size, Share, Trend, Forecast, & Industry Analysis
Battery additives market was estimated to grow from USD 1.1 billion in 2021 to USD 2.06 billion by 2028 at a CAGR of over 9.27% during the forecast period.
The factors that are contributing to the demand for battery additives in the market are the increasing demand for Lithium-ion batteries used in consumer electronics, high adoption of high electric vehicles, plug-in hybrid electric vehicles, and electric vehicles by the automotive industry, and the increasing investments in renewable energy.
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Battery Additives Market - Snapshot |
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|---|---|
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Growth (2022-2028) |
CAGR of 9.27% for the next five years |
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Major Application Type |
Lead Acid Battery |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Cabot Corporation, Hammond Group, Orion Engineered Carbons, Imerys S.A., The 3M Company, Altana AG, Borregaard, Hopax, Penox GmbH, and SGL Group. |
Battery additives are used in batteries to enhance their performance and improve their service life. Further, these additives also enhance a battery’s charge holding capacity.
Battery additives are of different types, such as conductive additive, porous additive, and nucleating additive that are used in various applications, such as lithium-ion batteries and lead acid batteries.
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The market is segmented as lithium-ion battery, lead acid battery, and others. The lead acid battery segment held the largest share of the market in 2021, whereas lithium-ion battery is expected to be the fastest-growing application type during the forecast period. Lithium-ion batteries are majorly used in various applications, such as smartphones, tablets, laptops, wearable devices, and other home applications. The performance of lithium-ion batteries is enhanced by the presence of additives which possess various properties such as increased storage stability and offer safety.
Asia-Pacific is estimated to be the largest as well as the fastest-growing battery additives market during the forecast period, with China and India being the major countries with lucrative growth opportunities.
The growth of the market is driven by factors such as increasing demand for battery additives as they are used in various applications such as portable devices and electric vehicles, increasing population, the presence of a large number of battery additive manufacturers, and growing end-use industries, which have led to innovation and development, generating a huge demand for battery additives in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
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Some of the major players in the market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
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Battery Additives Market Research Report - Features |
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|---|---|
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Market Segmentation |
3 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
Battery additives market is likely to grow at a CAGR of over 9.27% during the forecast period.
Lithium-ion battery is expected to be the fastest growing application type in the market in the coming years.
Cabot Corporation, The 3M Company, IMERYS S.A., Orion Engineered Carbons, Hammond Group, SGL Group, and Borregaard are among the key players in the market.
Asia-Pacific is expected to remain the largest market for battery additives during the next five years.
Increasing demand for Lithium-ion batteries used in consumer electronics, high adoption of high electric vehicles, plug-in hybrid electric vehicles, and electric vehicles by the automotive industry, and the increasing investments in renewable energy are the factors driving the market growth.
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