Non-Aqueous Electrolyte Market Size was valued at USD 3.67 Bn in 2023 and is predicted to reach USD 12.03 Bn by 2031, at a 15.9% CAGR during the forecast period for 2024-2031.
The non-aqueous electrolyte, such as lithium-ion, is underscored in applications where water’s chemical or physical properties could limit performance. In these applications, non-aqueous solvents provide superior electrochemical stability. This allows the battery to operate at greater temperatures and voltages, resulting in increased energy production with reduced waste. The global non-aqueous electrolyte market is anticipated to experience growing demand for organic and inorganic non-aqueous electrolytes, which is driving demand for lithium-ion batteries, which in turn is driven by a rise in vehicle manufacturing, which in turn has a significant impact on the non-aqueous electrolyte industry.
The worldwide trend towards electrification, renewable energy, and portable electronic gadgets is propelling the market’s expansion due to the rising need for high-performance batteries. The growth of the non-aqueous electrolyte industry is being driven by developments in battery technology, renewable energy policies implemented by governments, and advances in materials research.
However, the non-aqueous electrolytes industry is slowing down its growth due to concerns about the safety of non-aqueous electrolytes, such as those found in lithium-ion batteries, where overheating, leakage, and fires are possible outcomes, as well as the high cost of these materials, which can hinder their widespread use, especially in markets where price is a determining factor These issues are anticipated to impede the market’s progress. The global non-aqueous electrolytes industry is expected to continue rising in the coming years due to several factors, such as technological improvements, continuous research & development, and carbon emission reduction initiatives established by the government.
Competitive Landscape
Some of the Major Key Players in the Non-Aqueous Electrolyte Market are
- Ampcera
- Electrovaya
- GS Yuasa International Ltd.
- LG Chem
- POSCO
- American Elements
- NEI Corporation
- Targray
- Amprius Technologies
- Mitsubishi Gas Chemical Company, Inc.
- Solid Power
- CAPCHEM
- Mitsui Chemicals, Inc.
- UBE Corporation
- Contemporary Amperex Technology Co., Limited
Market Segmentation:
The non-aqueous electrolyte market is segmented based on application, end-use industry, and type. Based on the application, the market is segmented into lithium-ion batteries, sodium-ion batteries, solid-state batteries, and others. By end-use industry, the market is segmented into automotive, consumer electronics, energy storage, and others. By type, the market is segmented into organic and inorganic.
Based on the Application, The Lithium-Ion Battery Segment is Accounted as a Major Contributor to the Non-Aqueous Electrolyte Market
The lithium-ion battery non-aqueous electrolyte market is expected to hold a major global market share in 2023 because lithium-ion batteries are used and relied on by many different types of businesses. Electric vehicles, large-scale energy storage systems for renewable energy sources, and consumer electronics like laptops and smartphones all rely on these batteries. The need for lithium-ion batteries is being propelled by the worldwide trend towards electrification, especially in the automotive industry, due to the increasing popularity of electric vehicles. In addition, lithium-ion batteries are becoming increasingly attractive for a wider variety of uses as a result of continuous improvements in their energy density, safety, and endurance brought about by technological and material science developments.
Consumer Electronics Segment to Witness Growth at a Rapid Rate
Consumer electronics is growing because the business is constantly innovating, and its products are widely used. Lithium-ion batteries, which power many different types of consumer electronics, including computers, smartphones, wearable tech, and wireless headphones, rely on non-aqueous electrolytes. Technological progress, the digitization of more and more aspects of daily life, and an insatiable need for cutting-edge consumer electronics are all contributing to the explosion in demand for these items, growing this segment.
In The Region, The North American Non-Aqueous Electrolyte Market Holds a Significant Revenue Share
The North American non-aqueous electrolyte market is expected to register the highest market share in revenue in the near future. It can be attributed to the increasing integration of renewable energy sources. Prominent technological companies and battery manufacturers are meeting this demand. In addition, Asia Pacific is projected to grow rapidly in the global non-aqueous electrolyte market because of rising consumer interest in renewable fuels, consumer sustainability awareness, improvements in energy storage technology, supportive regulations, and incentives to boost renewable energy usage in the expanding markets of the Asia Pacific region.
Recent Developments:
- In January 2024, Ampcera Inc., a frontrunner in the development of next-generation solid-state batteries and solid-state electrolytes, announced that it had achieved a first: it can charge its all-solid-state battery (ASSB) technology to 80% SOC in under 15 minutes at a high C-rate of 4C.
- In February 2024, Extensive testing confirmed that Electrovaya’s batteries are compatible with wireless chargers. Tech and manufacturing company Electrovaya Inc., which focuses on lithium-ion batteries, announced that it has joined up with two major wireless charger providers to integrate and test its latest battery systems.
Non-Aqueous Electrolyte Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.67 Bn |
|
Revenue Forecast In 2031 |
USD 12.03 Bn |
|
Growth Rate CAGR |
CAGR of 15.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application, By End Use Industry, By Type and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Ampcera, Electrovaya, GS Yuasa International Ltd., LG Chem, POSCO, American Elements, NEI Corporation, Targray, Amprius Technologies, Mitsubishi Gas Chemical Company, Inc., Solid Power, CAPCHEM, Mitsui Chemicals, Inc., UBE Corporation, and Contemporary Amperex Technology Co., Limited. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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