Electrolyte is a substance which releases ions when dissolved in solvent or liquid. The battery electrolyte market is progressing at a good rate in recent years and anticipated to register significant growth during the forecast years. The growth is majorly attributed to the increasing adoption of electric vehicles, an increase in automobile sales, and increase the share of alternative energy sources in the energy mix.
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The battery electrolyte market is further classified on the basis of the state of electrolyte; where the lead-acid battery is categorized into the liquid electrolyte, gel electrolyte. Lithium-ion category is further classified into the liquid electrolyte.
The increasing adoption of electric vehicles, increases in automotive sales, increasing demand from replacement market of batteries are among the major factors driving the battery electrolyte market growth. Various countries are the members of EVI, including China, Canada, Finland, Germany, France, India, Mexico, Japan, the Netherlands, Sweden, Norway, the UK, and the US.
Expensive electric vehicles as compared to conventional crude vehicles and lack of efficient recycling technologies for battery materials are the major challenges that are expected to hinder the battery electrolyte market growth.
Some of the key players operating in the global battery electrolyte industry are Mitsubishi Chemical Corporation, Shenzhen Capchem Technology Co., Ltd., Ube Industries, Johnson Controls, Guangzhou Tinci Materials Technology Co., Ltd., 3M Company, BASF SE, LG Chem, American Elements, and GS Yuasa Corporation.
The battery electrolyte market is further classified on the basis of the state of electrolyte; where the lead-acid battery is categorized into the liquid electrolyte, gel electrolyte. Lithium-ion category is further classified into the liquid electrolyte.
The increasing adoption of electric vehicles, increases in automotive sales, increasing demand from replacement market of batteries are among the major factors driving the battery electrolyte market growth. Various countries are the members of EVI, including China, Canada, Finland, Germany, France, India, Mexico, Japan, the Netherlands, Sweden, Norway, the UK, and the US.
Expensive electric vehicles as compared to conventional crude vehicles and lack of efficient recycling technologies for battery materials are the major challenges that are expected to hinder the battery electrolyte market growth.
Some of the key players operating in the global battery electrolyte industry are Mitsubishi Chemical Corporation, Shenzhen Capchem Technology Co., Ltd., Ube Industries, Johnson Controls, Guangzhou Tinci Materials Technology Co., Ltd., 3M Company, BASF SE, LG Chem, American Elements, and GS Yuasa Corporation.
Source: VynZ Research
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