Wilmington, Delaware, United States, June 06, 2022 (GLOBE NEWSWIRE) -- The growth of the global market for gel polymer electrolytes is generating lucrative avenues for battery manufacturers increasingly in hydrogen fuel cells and lithium-ion (Li-ion) cells. Rising adoption of these battery technologies in automotive industry and the electrolytes in supercapacitors has reinforced growth prospects for gel polymer electrolytes market. An in-depth business intelligence study by authors at TMR forecasts that the valuation is projected to advance at CAGR of 6.8% during 2022–2031.
Growing development of develop non-flammable batteries especially to cater to renewable energy sector is catalyzing growth opportunities in gel polymer electrolytes market. Many gel polymer electrolytes market manufacturers have shown massive interest in polyvinyl alcohol (PVA) gel electrolytes. These are characterized with a remarkable depth of recharge and support many charging-discharging cycles in batteries where they are used.
Polyvinylidene fluoride (PVDF)-based gel polymer electrolytes are another lucrative product category that is expected to generate enormous revenues to companies. Other gel electrolytes types include polymethyl methacrylate (PMMA) based-products in the gel polymer electrolytes market. An enormous demand for Li-ion batteries in electric vehicles has spurred the commercialization of such products in polymer electrolytes market.
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Key Findings of Gel Polymer Electrolytes Market
- Rising Use in Energy Storage Application in Multiple Industries Pivots Market Growth: Extensive use of gel polymer electrolytes in battery technologies stems from need for advanced energy storage applications in telecommunication, automotive, and transportation industries. In battery technologies, they are replacing liquid organic electrolytes, as they have good nonflammability. Additionally, lucrative demand for battery technology in renewable sector is also spurring the revenue possibilities for players in the gel polymer electrolytes market.
- Utilization in Li-ion and Fuel Cells Steering Revenue Streams: Widespread adoption of Li-ion batteries in the consumer electronics has generated vast revenue growth to gel polymer electrolytes market. Li-ion batteries have been extensively commercialized in secondary storage application in the automotive industry. In recent years, industry players are closely looking at the promise of gel polymer electrolytes in fuel cells. Ongoing research activities will open up new opportunities in the gel polymer electrolytes market.
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Gel Polymer Electrolytes Market: Key Drivers
- Continuous R&D on battery technology is aimed at overcoming the drawbacks of conventional liquid and solid polymer electrolytes. This is a key driver for development of the gel polymer electrolytes.
- Strides being made in renewable energy sector is spurring the penetration of battery technologies based on various gel polymer electrolytes, thus driving the gel polymer electrolytes market.
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Gel Polymer Electrolytes Market: Regional Growth Dynamics
- Asia Pacific held a major share—amounting to 53.8% by volume—of the global market in the year 2021. Massive demand for lithium-ion batteries and fuel cell industries is expected to generate large revenue shares to the regional market. Of note, China alone accounted for one-third share of the regional market in the same year.
- Europe and North America have been lucrative markets. The growth has been propelled by rise in uptake of fuel cells and supercapacitors in various industries.
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Gel Polymer Electrolytes Market: Key Players
Some of the key players in the gel polymer electrolytes market are VESTOLIT GmbH & Co. KG, Vinythai Public Co., Ltd, SEKISUI CHEMICAL CO., LTD, Nippon Shokubai Co. Ltd, Arkema, 3M, GVS Filter technology, Solvay, LG Chem, and Ashland Global.
Gel Polymer Electrolytes Market: Segmentation
- Type
- Polyvinylidene Fluoride (PVDF) Based
- Polyethylene Oxide (PEO) Based
- Polypropylene Oxide (PPO) Based
- Polymethyl Methacrylate (PMMA) Based
- Polyvinyl Chloride (PVC) Based
- Polyacrylonitrile(PAN) Based
- Hybrid Gel Electrolytes (HE) Based
- Others (Polyvinyl Alcohol, etc.)
- Application
- Energy Storage
- Lithium-ion Batteries
- Fuel Cells
- Others (Chitosan, etc.)
- End-use
- Automotive
- Energy
- Electronics
- Others (Utility, etc.)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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