Battery Additives Market Overview
The global battery additives market 2020 is slated to acquire USD 1.9 billion by 2023, at a CAGR of 9.1% over the review period.
Battery Additives Market highlights
The growing usage of smartphones and rechargeable batteries is leading to the growth of lithium-ion batteries, which are projected to raise battery additive demand and sales.
In addition, the growing need for rechargeable batteries for military and defence use in rural areas and in areas where there is no electricity, adds to the development of the market for batteries. This element is also projected to be the main contributor to the development of the global demand for battery additives. In addition, the growth of the global market for battery additives is projected to be fuelled by the the adoption of plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and electric vehicles (EVs) in the automotive industry.
Additionally, technical developments in lithium-ion batteries are projected to generate growth prospects during the forecast timeframe for players operating in the global market for Battery Additives Market. The growth is attributed to the increasing use of lead-acid batteries in the automotive and electronics industries. The growing interest in electronic appliances such as smartphones and other electronics appliances has resulted in an increase in the use of lead acid batteries. Thus, the increasing demand for lead-acid batteries is projected to fuel the global battery additives market's growth during the review period.
Protection concerns surrounding battery additives, however are marginally reducing their production, which is expected to strengthen the development of the global market for battery additives during the review period.
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Battery Additives Market Segmentation
On the basis of type, application, and region, the global battery additives market has been segmented.
The global demand for battery additives has been divided by form into conducting additives, porous additives, and nucleating additives. Owing to its rising usage in the manufacture of lead acid batteries, the conductive additive segment held the largest share of the global demand for battery additives in 2017, and was the fastest growing segment.
The global battery additives industry has been separated into Li-ion batteries and lead-acid batteries depending on use. Among both, the worldwide lead-acid battery market had the largest share, while Li-ion batteries were the fastest developing segment in 2017.
Battery Additives Market Regional Overview
Five countries, including Asia-Pacific, North America, Europe, Latin America and the Middle East Africa, have been covered by the global battery additives industry.
The Asia-Pacific battery additives market had the greatest share in 2017. The expanding automotive industry is the primary factor responsible for the regional sector's growth. The use of these batteries is growing in the automotive industry due to advances and advantages, such as the mobility and storage properties of Li-ion and lead-acid batteries.
In 2017, the North American industry held the second-largest share of the global battery additives market due to the abundant use of rechargeable batteries and Li-ion and lead-acid batteries in the electronics and automotive industries. The regional market is expected to see considerable growth during the assessment period.
Increasing sales of automobiles and technical advances in the automotive industry are driving the growth of the European economy. The increasing use of PHEVs, HEVs and EVs in the automotive industry is expected to drive the Latin American market's growth. Another factor accountable for the growth of the region's battery additives market is the shift in interest towards power cars and power storage batteries. During the assessment period, the Latin American market is expected to demonstrate moderate growth.
Due to increasing demand for smartphones and other electronic devices in the region, the Middle East Africa is projected to experience steady growth during the forecast period.
Battery Additives Market Compeittive Dashboard
Imerys (France)
3M (US)
Hammond (US)
SGL Carbon (Germany)
HOPAX (Taiwan)
PENOX (Germany)
ALTANA (Germany)
Borregaard (Norway)
Cabot Corporation (US)
and US Research Nanomaterials
Inc (US)
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