Northbrook, IL -- (SBWIRE) -- 04/05/2022 -- The report "Battery Additives Market by Type (Conductive Additive, Porous Additive, and Nucleating Additive), Application (Lead Acid and Li-ion), and Region (APAC, Europe, North America, South America, and the Middle East & Africa) - Global Forecast to 2023" The battery additives market is projected to grow from USD 1.2 billion in 2018 to USD 1.8 billion by 2023, at a CAGR of 9.0%. There is an increase in the demand for battery additives in Li-ion batteries in the consumer electronics application. Li-ion batteries are used in various consumer electronics applications such as smartphones, laptops, fitness bands, smartwatches, Bluetooth headsets, and handheld games. Li-ions are used in these devices as they are compact, small in size, offer high energy capacity, and can be easily fit into the device to be powered. Underdeveloped support infrastructure for EVs and stringent safety issues related to batteries are restraining the growth of the battery additives market.
Browse 63 market data Tables and 34 Figures spread through 112 Pages and in-depth TOC on "Battery Additives Market by Type (Conductive Additive, Porous Additive, and Nucleating Additive), Application (Lead Acid and Li-ion), and Region (APAC, Europe, North America, South America, and the Middle East & Africa) - Global Forecast to 2023"
On the basis of application, the lead acid segment is estimated to lead the battery additives market in 2018.
Lead acid is the largest application of battery additives. This industry is growing across various sectors, such as consumer electronics, automotive, and industrial due to the increasing use of batteries in these industries. Lead acid battery possesses various characteristics such as better electrochemical performance, high power and efficiency, low self-discharge, and long shelf life. The demand for lead acid batteries is increasing with the growing technological innovations in the EVs market.
Download PDF Brochure https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=35523966
On the basis of sub application, the EVs segment in the Li-ion application is projected to lead the battery additives market during the forecast period.
EVs is projected to lead the battery additives market, globally. EVs is expected to account for the larger share, as they are reliable, cost-efficient, and have good torque and lower emission control. The two major types of EVs include all-electric vehicles (AEVs) and plug-in hybrid electric vehicles (PHEVs). EVs is also projected to be the fastest-growing segment in the Li-ion application during the forecast period. This is due to government initiatives and regulations related to environmental concerns and increasing awareness about clean and sustainable fuel.
On the basis of region, APAC is estimated to lead the battery additives market in 2018.
APAC is estimated to be the largest battery additives market owing to its high consumption in portable devices and automotive applications. Growing population, increasing disposable incomes, urbanization, and changing lifestyles are driving the battery additives market. China, India, Japan, Taiwan, Malaysia, and South Korea are some of the key battery additives markets. Recent infrastructure developments and industrialization activities in the emerging countries have opened new avenues and opportunities for OEMs. The increasing purchasing power of the population has stimulated the demand for consumer electronics and automobile, which is fueling the market growth in APAC.
The key players in the battery additives market include Cabot Corporation (US), 3M (US), IMERYS (France), Orion Engineered Carbons (Luxembourg), Hammond Group (US), SGL Carbon (Germany), Borregaard (Norway), HOPAX (Taiwan), PENOX (Germany), and ALTANA (Germany)..These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, and acquisition.
About MarketsandMarkets
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441