From GlobeNewswire: 2024-11-12 10:00:00

A battery is a chemical energy reserve that can be converted into electrical energy. Battery electrolyte is a combination of water and sulfuric acid that serves as the liquid component of most automotive batteries. The global battery electrolyte market is expected to reach USD 31.65 billion by 2033, growing at a CAGR of 11.69%.

The increasing demand for electric vehicles is driving the battery market. Electric vehicles have a lower environmental impact than conventional vehicles, leading to subsidies and regulations promoting their adoption. By 2025, Norway, France, and the UK plan to ban the sale of internal combustion engine vehicles.

Technological advancements, like solid-state batteries, are creating opportunities in the market. Solid-state batteries use a solid material instead of liquid electrolyte, making them safer and more efficient. This innovation allows for denser, lighter batteries with longer shelf lives.

North America leads the global battery market due to increased use of electric vehicles and consumer electronics. In Europe, lithium-ion batteries dominate due to their versatility in various applications. The market for lithium-ion batteries in Europe is expected to reach EUR 250 billion by 2025.

The global battery electrolyte market size was valued at USD 11.70 billion in 2024 and is projected to grow significantly by 2033. The market is segmented by battery types (lead-acid, lithium-ion, flow batteries) and end-users (electric vehicles, energy storage, consumer electronics). Key players in the market include 3M Co., Mitsubishi Chemical Corporation, and Targray Industries Inc.

Recent developments include NCKU Researchers developing a Nickel-Plated Sulfur Cathode for high-capacity, low-cost batteries. NEI Corporation offers a variety of cathode, anode, and solid electrolyte materials for lithium-ion and sodium-ion batteries.

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