Global Battery Additives Market by Type (Conductive Additive , Porous Additive and Nucleating Additive), Application (Lithium-Ion Battery, Lead Acid Battery, and Others), and Region (North- America, Europe, Asia-Pacific, Middle East & Africa, South America) –is expected to reach US$ 2.77 Bn by 2027, at a CAGR of 9.7 %.
The battery additives are the substances which are added in small quantities during the manufacturing process of the battery. The additives help to improve the quality of the products. They offer enhanced capacity, cold cranking performance, cycle life, charge acceptance, and partial-state-of-charge cycling.
Growing adoption of electric vehicles propelling global lithium-ion battery, rising investments in renewable energy, increasing demand for Li-ion batteries in consumer electronics applications and high adoption of hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and electric vehicle (Ev) in the automotive industry are boosting the growth of the battery additives market.
However, the factors which restrict the growth of the battery additives market underdeveloped support infrastructure for EVs and strict safety concerns associated with batteries. The key challenge to the growth of this market is regulations and safety concerns associated with lead-acid batteries. Technological advancements in Li-ion batteries are expected to generate opportunities for the global battery additives market.
Lithium-ion battery application segment holds the largest market share
Lithium-ion battery application segment has been segmented into EVs, portable devices, industrial, and others. The electric vehicle is the largest and fastest rising application of lithium-ion battery because it provides benefits such as reliable, cost-efficient, and good torque and lower emission control characteristics. These factors drive the growth of the global battery additives market.
The Asia Pacific is projected to dominate the market
The Asia Pacific is expected to hold the major share of the global battery additives market owing to high growth and invention, besides with industry alliances. High demand for battery additives in emerging economies like China and India and high demand in portable devices and electric vehicles applications are expected to lead to the rapid growth of the market in the region.
This report contains a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Cabot Corporation, Cambridge Ltd, Orion Engineered Carbons, IMERYS, 3M, ALTANA, Borregaard, HOPAX, PENOX, SGL Group, Colonial Chemical Corp, MSC Industrial Supply, GETSOME Products, Tab-Pro LLC, Atomized Products Group, Fastenal, Battery Equaliser USA, OCSiAl and Zircon Industries.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the market. Report encompasses the Market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the Market, further giving an insight into the market dynamics, and future opportunities that might exist in the global battery additives market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing Market know-how of our clients and at the same time explain the market positioning of competitors.
Browse the Market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Battery Additives Market”.
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