Battery Additives Market Data, Industry Analysis, Size, Share Upto 2028
The report presents
important Battery
Additives Market statistics based on quantitative and
qualitative research conducted by our analysts. It offers an overview of the
materials & chemicals industry, highlighting the key dynamics including
industry growth drivers, restraints, opportunities, challenges, and threats.
The report further throws light on the leading products offered by the industry
players, and highlights the pricing structure, profit margins, sales
statistics, end-use industries, and distribution channels of these products.
The global Battery
Additives Market is forecast to reach USD 2,755.0 Million by 2028,
according to a new report by Reports and Data. Battery additives are specialty
chemicals that are utilized in the manufacturing and maintenance of batteries.
During the normal functioning of a battery, the electrodes accumulate crystals
also called sulfation. These crystals reduce the ability of the battery to
charge, discharge, and depreciates the output of the batteries over time.
Shading of battery plates occurs over time, which, in turn, causes
sedimentation at the bottom part of the batteries, causing a short circuit. The
additive treatments are mostly operational with old battery models, expanding
their life by a few months until a replacement is sought for. Current batteries
already contain additives that reduce sulfation and internal erosion.
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The previous-mentioned factors
collectively create drivers for the market growth while factors such as
unfavorable effects of battery additives pose limitations in the market. These
restricting factors include stringent policies regarding the use of hazardous
chemicals and the underdeveloped scenario of electric vehicles. Consistent
advancements in the electronics and batteries sector owing to innovative
efforts have enhanced the efficiency of battery additives.
The population of Asia
Pacific has shifted towards the youth, and the purchasing capacity of this
population is also increasing. The developing countries are looking at South
Korea and China as the global leaders in the battery additives market. These
countries consist of over 30% population across the globe, and the application
of batteries in this region will experience growth at a very high rate owing to
urbanization and demand for electronic products.
Key participants are:
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, among others.
Further key
findings from the report suggest
- The porous additive segment is set to
observe the highest CAGR of 10.2% during the forecast period. This is
owing to the high utility in electric vehicles and the cheap manufacturing
cost of this type of batteries.
- Lead-acid batteries held the largest
market share of 49.5% in the year 2018, owing to its increased utility in
the automotive segment. They are being utilized highly in regions where
the infrastructure for electric vehicles has developed in the previous
years. Usage of additives in this segment allows the batteries to last
longer against corrosion, self-discharging and overcharging.
- The conductive segment for battery
additives held the largest market share of 32.9% in the year 2018. This is
owing to the rapid research in the scope of this additive type. The
development of solid-state batteries is directly relatable to the
advancement in the conductive segment for batteries.
- Asia Pacific is forecasted to observe
the highest CAGR of 11.3% during the forecast period. Countries like India
and China are rapidly catching on with the growth in the battery additive
market. The advent of electric vehicles owing to their
environment-friendly nature is boosting the market growth in this region.
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For the purpose of this
report, Reports and Data have segmented into the global Battery Additives
Market on the basis of additive type, application type, end-users, and region:
Additive Type Outlook
(Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Conductive
- Porous
- Nucleating
- Others
Application Type Outlook
(Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Lithium ion
- Lead acid
- Nickel ion
- Others
End-Users Outlook
(Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Automotive
- Electronics
- Others
Regional Outlook (Volume,
Kilo Tons; Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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