Global Battery Additives Market Size By Type (Conductive Additive, Porous Additive, Nucleating Additive), By Application (Lead Acid, Li-Ion), By Geographic Scope And Forecast

Battery Additives Market Size And Forecast

Battery Additives Market size was valued at USD 1.78 Billion in 2024 and is projected to reach USD 3.72 Billion by 2031, growing at a CAGR of 4.99% from 2024 to 2031.

The increased demand for Li-Ion batteries in consumer electronics applications is a crucial aspect of the rise in the market revenue of Battery Additives as well as the rise in the adoption of Ev, Hev, and Phev in the automotive industry will foster market growth. The Global Battery Additives Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Battery Additives Market Definition

Battery additives refer to devices that are used to increase the battery’s performance and expand the service life of batteries, also helping to enhance the battery’s charge-holding capacity. The properties of battery additives such as higher cycling stability over higher rates the partial state of charge, higher purity, and substantial improvements of the dynamic charge acceptance significantly contribute to increasing the performance of batteries, including lithium-ion batteries and lead-acid batteries. Battery additives are generally used in two types of applications, such as lead-acid and lithium-ion types. The battery additives are categorized into various types, including porous additives, conductive additives, and nucleating additives.

Global Battery Additives Market Overview

Higher usage of lithium-ion batteries in several applications including electric vehicles, digital cameras, laptops, and computers is among the key factors driving the demand for battery additives. Increasing industrialization in the countries, including South Korea, India, China, France, and Germany has led to increased consumption of batteries, which is further boosting battery additives demand over the forecast period. One of the major driving factors is the rising demand for Li-Ion Batteries in consumer electronics applications. In recent times there has been an increase in the adoption of battery-powered electric vehicles around the world.

Further, it creates a potential for lithium-ion batteries, as these batteries have high energy density their demand is rising. Therefore such a demand has resulted in a growth of the production of these batteries, ultimately driving the growth of the Battery Additives Market in the upcoming years. Also, the high adoption of Ev, Hev, and Phev in the Automotive Industry is contributing to market growth. Owing to the multiple benefits of lithium-ion batteries, the segment is estimated to experience significant growth. In addition, increasing investments in renewable will influence the market in a positive manner. Increasing awareness regarding the environment leads to the augmenting of the adoption of plug-in hybrid electric vehicles.

Also, supportive initiatives by the governments in order to promote the use of alternative fuel vehicles have boosted the Global Battery Additives Market. Thus aforementioned factors are expected to drive the Battery Additives Market over the forecasted period. There are certain restraints and challenges faced which will hinder the market growth. Restraining factors such as the lack of infrastructure support for electric vehicles in developing countries, and stringent safety issues regarding lead acid batteries are expected to restrain the Global Battery Additives Market growth up to a certain extent during the forecasted period.

Global Battery Additives Market Segmentation Analysis

The Global Battery Additives Market is segmented on the basis of Type, Application, and Geography.

Battery Additives Market, By Type

• Conductive Additive
• Porous Additive
• Nucleating Additive

Based on Type, the market is bifurcated into Conductive Additive, Porous Additive, and Nucleating Additive. The Conductive Additive segment held the largest market share. These factors can be attributed to the high adoption of conductive additives for the manufacturing of lead-acid batteries. Also, the emerging application of lead-acid batteries in different industries, such as consumer electronics, and automotive, is indirectly driving the demand of the conductive additives segment in the market.

Battery Additives Market, By Application

• Lead Acid
• Li-ion
• Others

Based on Application, the market is bifurcated into Lead Acid, Li-ion, and Others. The Li-ion application segment is anticipated to have the highest CAGR, where as the Lead-acid application segment held a major market share in the forecast period. The factors can be attributed to the wide range of applications of Li-ion batteries such as smartphones, laptops, tablets, wearable devices, and other home applications. Using battery additives in the Li-ion application, it resulted in increasing safety, storage stability, and pick up the performance of batteries.

Battery Additives Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Battery Additives Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The largest share of the market will be dominated by the Asia Pacific region. The presence of emerging economies such as China, India, and Indonesia in the region has helped in market growth of region. The growth can be attributed to the rising demand for electric vehicles in the Asia Pacific region. North America is also expected to grow at a noteworthy CAGR, as the U.S. market is experiencing an increase in the adoption of electric forklift technologies over the forecasted period.

Key Players

The “Global Battery Additives Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cabot Corporation, Hammond Group, Orion Engineered Carbons, IMERYS, 3M, ALTANA, Borregaard, HOPAX, PENOX, and SGL Group.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2022, Univar Solutions Inc., a global chemical and ingredient distributor that provides value-added services announced that it has been appointed as distributor of Cobalt Corporation which has specialty carbon black products for the plastics and batteries markets in Brazil. Cabot’s specialty for Carbon black products is used for multiple applications in the automotive applications in the automotive market.
• In November 2021, Cabot Corporation announced that the company has entered into an agreement to sell its purification Solutions business, which is a global leader in the research, development, manufacturing, and sale of high-performance activated carbon used in the range of environmental, health, safety, and industrial applications.
• In May 2022, Orion Engineered Carbons, a chemical company announced that they are adding 100 million EUR to its credit facility which is a senior secured revolving facility and this will expand the company’s facility to 351 million EUR.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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