Global Battery Additives Market to Reach US$ 3.7 Billion by 2032, Stimulated by Rising Sales of Electronic Items with Optimal Battery Performance

July 03, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Battery Additives Market by Type (Conductive Additive, Porous Additive, Nucleating Additive, and Others), Application (Lead-Acid Battery, Lithium-Ion Battery, and Others), End User (Electronics, Automotive, and Others), and Region 2024-2032,” the global battery additives market size reached US$ 1.9 Billion in 2023. Battery additives are used to improve the properties of electrolytes and the performance, safety, and service life of batteries under heating, overcharge, and discharge conditions. They include magnesium sulfate (MgSO4), caustic soda, and ethylenediaminetetraacetic acid (C10H16N2O8). They involve conductive, porous, and nucleating additives that are added to the electrolytic solution for enhancing conductivity, strength and the energy density of the battery. They offer substantial improvements in the dynamic charge and help reduce sulfation on the electrodes to improve charge-holding capacity. They also aid in avoiding shading sedimentation that generally occurs at the bottom of the battery. As a result, they are increasingly being used in lithium-ion and lead-acid batteries.

Global Battery Additives Market Trends:

The rising individual reliance on laptops, smartphones, personal computers (PCs), tablets, and other consumer electronic products is favoring the growth of the market. Additionally, power outage problems and the increasing electricity needs due to the growing global population and increasing construction activities of buildings are driving the demand for battery additives. Along with this, initiatives undertaken by the governments of several countries to support rural electrification are strengthening the growth of the market. Furthermore, increasing sales of hybrid and electric vehicles (H/EVs) on account of the rising environmental concerns caused by harmful emissions of automobiles is creating a positive market outlook. Lead-acid batteries are used in cars to supply the required voltage in music systems, wipers, air conditioners (ACs), and charging plugs. Additionally, governing authorities of numerous countries are investing in upgrading the public charging infrastructures of EVs. Moreover, the rising use of lithium-ion batteries in photovoltaic installations, nuclear power plants, and various renewable energy projects is catalyzing the demand for battery additives. Looking forward, the market value is projected to reach US$ 3.7 Billion by 2032, expanding at a CAGR of 7.68% during 2024-2032.

Market Summary

  • Based on the type, the market has been segmented into conductive, porous, nucleating, and other additives. At present, conductive additives dominate the market.
  • On the basis of the application, the market has been divided into lead-ion battery, lithium-ion battery, and others. Lead-acid battery currently accounts for the majority of the market share.
  • On the basis of end user, the market has been classified into electronics, automotive, and others.
  • Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others);Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being 3M Company, Borregaard AS, Cabot Corporation, Imerys S.A., Orion Engineered Carbons, Penox Group GmbH, SGL Carbon SE, Taiwan Hopax Chemicals Mfg. Co. Ltd., and US Research Nanomaterials Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Types Covered Conductive Additive, Porous Additive, Nucleating Additive, Others
Applications Covered Lead-Acid Battery, Lithium-Ion Battery, Others
End Users Covered Electronics, Automotive, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 3M Company, Borregaard AS, Cabot Corporation, Imerys S.A., Orion Engineered Carbons, Penox Group GmbH, SGL Carbon SE, Taiwan Hopax Chemicals Mfg. Co. Ltd., US Research Nanomaterials Inc., etc.
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Global Battery Additives Market to Reach US$ 3.7 Billion by 2032, Stimulated by Rising Sales of Electronic Items with Optimal Battery Performance
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