Lithium-ion Battery's Electrolyte Solvent Market Size (2024 - 2029)

Lithium-Ion Battery Electrolyte Solvents Market Analysis

The lithium-ion battery's electrolyte solvent market is expected to record a CAGR of more than 21.5% during the forecast period.

The COVID-19 pandemic had a negative impact on the market, owing to the lockdown in various countries across the world led to supply chain constraints that significantly obstructed the expansion of the industry. Moreover, the production of automobiles and electronics observed a temporary halt which led to a decrease in demand for its major end-user industries. However, with improvement in the pandemic situation and the restart of automobile and electronic production operations, the market is now estimated to have reached pre-pandemic levels, and it is expected to grow steadily during the forecast period.

• The increasing demand from electric vehicle manufacturers and growing demand from smartphone manufacturers are likely to drive the demand for lithium-ion battery's electrolyte solvents.
• On the flip side, potential hazards caused by using impure electrolyte solvent is expected to hinder the growth of the market.
• Factors like emerging technologies in the production of non-flammable solvents and the increasing scope of lithium-ion batteries in aerospace applications are likely to offer numerous opportunities to the manufacturers during the forecast period.
• Asia-Pacific accounted for the largest share across the world, with China clearly dominating the global demand.

Lithium-Ion Battery Electrolyte Solvents Industry Segmentation

Electrolytes are vital components of an electrochemical energy storage device. They are usually composed of a solvent or mixture of solvents and a salt or a mixture of salts, which provide the appropriate environment for ionic conduction. The lithium-ion battery's electrolyte solvent market report is segmented by solvent type, application, and geography. By solvent type, the market is segmented into, ethylene carbonate, diethyl carbonate, dimethyl carbonate, ethyl methyl carbonate, propylene carbonate, and other solvent types. By application, the market is segmented into application power backups/UPS, mobile, laptops, and other commonly used consumer electronic goods, electric mobility/vehicles, energy storage systems, and other applications. The report also covers the size and forecasts for the lithium-ion battery's electrolyte solvent market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).