Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The battery additives market size is estimated at USD 1.2 billion in 2018 and is projected to reach USD 1.8 billion by 2023. The growth of this market is attributed to the increasing investments in renewable energy.
Another factor driving the battery additives market is the growing demand for Li-ion batteries in consumer electronics and high adoption of HEV, PHEV, and EV in the automotive industry. However, underdeveloped support infrastructure for EVs and stringent safety issues related to batteries are restraining the growth of the battery additives market. Technological advancements in Li-ion batteries are providing growth opportunities for battery additives manufacturers.
Battery additives are used for protection and to increase the shelf life of batteries. Alumina-silicate ceramic, calcium sulfate, graphite, sodium sulfate, metallic oxides, and carbon materials are some of the types of additives widely used in batteries. The need for high power and energy density has created demand for reliable and safe batteries for industries such as automotive and consumer electronics. This stimulates the demand for battery additives which have high performance, improved durability, as well as protects against overcharging.
The demand for battery additives is increasing owing to the large production of batteries and the growing demand majorly for automobile and portable devices. Lead acid was the largest application of battery additives; its market size was USD 682.0 million in 2017. The demand for these batteries is mainly from the automotive and industrial applications.
The increasing demand for Li-ion batteries in consumer electronics, high adoption of HEV, PHEV, and EV in the automotive industry, and increasing investments in renewable energy are driving the market. Technological advancements in Li-ion batteries are providing growth opportunities for battery additives manufacturers. Underdeveloped support infrastructure for EVs and stringent safety issues related to batteries are restraining growth of the battery additives market.
The battery additives market is witnessing significant growth with fast-growing demand from APAC, especially from China, India, and South Korea. There is an increasing demand for battery additives with the rising demand for sustainable vehicles and energy storage systems. Major battery additives manufacturers are expanding production capacity and shifting manufacturing bases to the emerging countries of APAC to cater to the increased demand for batteries used in motor vehicles, smartphones, and various industrial applications.
The key players in this market are 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).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Battery Additives Market
4.2 Battery Additives Market, By Application
4.3 Battery Additives Market, By Major Countries
4.4 APAC Battery Additives Market, By Application and Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Li-Ion Batteries in Consumer Electronics Applications
5.2.1.2 High Adoption of Hev, Phev, and Ev in the Automotive Industry
5.2.1.3 Increasing Investments in Renewable Energy
5.2.2 Restraints
5.2.2.1 Underdeveloped Support Infrastructure for EVs
5.2.2.2 Stringent Safety Issues Related to Batteries
5.2.3 Opportunities
5.2.3.1 Technological Advancements in Li-Ion Batteries
5.2.4 Challenges
5.2.4.1 Regulations and Safety Issues Related to Lead Acid Batteries
5.3 Porter's Five Forces Analysis
6 Battery Additives Market, By Type
6.1 Introduction
6.2 Conductive Additive
6.3 Porous Additive
6.4 Nucleating Additive
7 Battery Additives Market, By Application
7.1 Introduction
7.2 Lithium-Ion Battery
7.2.1 Portable Devices
7.2.1.1 Better Performance and Durability of Li-Ion Battery to Drive the Demand in the Portable Devices Application
7.2.2 Electric Vehicles
7.2.2.1 Increasing Environmental Awareness About the Use of Li-Ion Battery in EVs to Increase the Demand for Battery Additives
7.2.3 Industrial
7.2.3.1 Improved Efficiency of Li-Ion Batteries in Construction and Mining Equipment to Fuel the Demand for Battery Additives
7.2.4 Others
7.3 Lead Acid Battery
7.3.1 Automotive
7.3.1.1 Growing Production of Automobiles to Drive the Battery Additives Market
7.3.2 Industrial
7.3.2.1 Improved Mechanical and Electrical Properties of Lead Acid Battery are Boosting the Battery Additives Market
7.4 Others
8 Battery Additives Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping
9.3 Competitive Benchmarking
9.4 Ranking of Key Players, 2018
9.5 Competitive Scenario
10 Company Profiles
- 3M
- ALTANA
- Borregaard
- Cabot Corporation
- Hammond Group
- HOPAX
- IMERYS
- Orion Engineered Carbons
- PENOX
- SGL Group
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