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The market size of battery electrolyte is estimated to grow from USD 7.6 billion in 2022 to USD 16.8 billion by 2027, at a CAGR of 17.1%
during the forecast period. The battery electrolyte market is expected to grow at a moderate rate over the next five years, owing to rapid technological advancements and expansion in the energy storage and electric vehicle industry.
New York, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Battery Electrolyte Market by Battery Type, Electrolyte Type, End-Use and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05436669/?utm_source=GNW
Energy storage is the fastest growing segment of battery electrolyte market by end-use
The battery electrolyte market by end-use is segmented into electric vehicle, comsumer electronics, energy storage and others.The energy storage segment is estimated to grow at the fastest rate owing to the increase in demand for batteries in energy storage industry.
There are various initiatives taken by government of different countries such as India and China to enhance the demand for energy storage. This will propel the demand for batteries, creating the market for battery electrolyte.
By electrolyte type, liquid electrolyte segment is expected to account for the largest market share during the forecast period
By electrolyte type, liquid electrolyte segment accounted for the largest segment in the battery electrolyte market, in 2021, in terms of value.Liquid electrolyte is used in lead acid as well as lithium-ion batteries.
These batteries are generally used in energy storage and electric vehicles. Owining to increasing demand for electric vehicles and energy storage systems, the liquid battery electrolyte market is expected to have the largest market share during the forecasted period.
Asia Pacific has largest market share region for battery electrolyte market in 2021
Asia Pacific is one of the major market for battery electrolyte, in terms of value.The region accounted for the largest market for battery electrolyte in 2021, and this dominance is expected to continue during the forecast period as well.
Key countries in the Asia Pacific battery electrolyte market include China, Japan, South Korea, and India, which dominated the region’s overall market in terms of value in 2021. The growing demand for electric vehicle, and consumer electronics in emerging countries of Asia Pacific are expected to drive the growth of the battery electrolyte market in the region.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level – 25%, Director Level – 30%, and Others– 45%
• By Region: Asia Pacific – 40%, North America – 30%, Europe – 20%, South America – 3%, Middle East & Africa – 7%
Major companies in the battery electrolyte market include Mitsubishi Chemical Corporation (Japan), UBE Corporation (Japan), 3M (US), GS Yuasa International Ltd. (Japan), and Capchem (China) ,among others.
Research Coverage:
The report defines, segments, and projects the battery electrolyte market based on battery type, electrolyte type, end-use, and region. It provides detailed information regarding the major factors influencing the market’s growth, such as drivers, restraints, opportunities, and challenges.It analyzes competitive developments, such as product launches and expansions, undertaken by the players in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the battery electrolyte market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the market’s competitive landscape, gain insights to improve the position of their businesses and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05436669/?utm_source=GNW
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