NEWARK, Del, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The lithium and lithium-ion battery electrolytes market is anticipated to create an absolute dollar opportunity during the forecast period from 2022 to 2029. The market is expected to grow with a year-on-year growth of 11.7%, reaching a valuation of about US$ 4,215.2 Mn by the end of 2022. The global market is predicted to witness a reasonable CAGR of 13.2% touching a valuation of about US$ 10,054.4 Mn in 2029.

According to the FMI studies, the BPS values shown in the market for lithium and lithium-ion battery electrolytes in the first half of 2022 have decreased by 20 units. However, according to the forecast the market is expected to grow by 40 BPS in H1 2022 compared to H1 2021.

According to the historical analysis, the sales of lithium and lithium-ion battery electrolytes surged at a robust CAGR of 9.9% between 2014 and 2021. The rise in its application is predicting substantial growth in the global market.

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Over the past several years, a significant shift among manufacturers is witnessed towards the emerging regions in order to meet the rising demand for lithium and lithium-ion battery electrolytes. Various dominant players in the market are also focusing on expanding their production capacities, new launches, R & D, and increasing their mergers and acquisition activities.

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Lithium and Lithium Ion Battery Electrolytes Market by Category

More Insights into the Lithium and Lithium-Ion Battery Electrolytes Market

As per the FMI analysis, the U.S. is projected to account for a big chunk of the global lithium and lithium-ion battery electrolytes market in the global landscape. The region is expected to showcase a steady pace owing to the increased consumption of electronic items.

The rise in population and rapid urbanization are some of the primary features influencing the growth of the electronics and automotive industries. The consumer electronics industry is likely to propel at a rapid pace, boosting the market for electrolyte makers. The U.S is expected to garner a revenue of US$ 289.9 Mn by the year 2029.

Due to the rising demand for electric motorcycles in Japan and other Asia-Pacific countries, lithium-ion batteries have a fortunate future in the Asia-Pacific region. There is a surge witnessed in the number of four-wheeled electric cars powered by lithium-ion batteries which are propelling its demand in the automotive industries of China, South Korea, and Japan. Due to these factors, Japan and South Korea are collectively expected to reach about US$ 2,878.9 Mn by the year 2029.

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    3.1. Key Trends Impacting the Market

Explore FMI's Extensive Ongoing Coverage on Chemicals & Materials Domain   

Refrigeration Oil Market Trends: The global refrigeration oil market is currently valued at around US$ 1,369.0 Mn, and is anticipated to reach US$ 2,332.9 Mn by 2032. Sales in the refrigeration oil market are expected to increase at a CAGR of 4.9% during the period of 2022 and 2032.

Antimicrobial Additives Market Size: The global antimicrobial additives market is estimated to be valued at around US$ 12,711.5 Mn in 2022. The overall sales of antimicrobial additives are projected to increase at a healthy CAGR of 8.2 % between 2022 and 2032, totaling a valuation of US$ 27,955.6 Mn by 2032.

Polyunsaturated Fatty Acids Market Value:  The global polyunsaturated fatty acids market size reached US$ 5459.4 Mn in 2021 and it is to touch a valuation of US$ 5743.3 Mn in 2022.  The overall demand for polyunsaturated fatty acids is slated to grow at 5.4 % CAGR between 2022 and 2032, totalling a valuation of US$ 9717.8 Mn by 2032.

Lithium Ion Battery Separator Market Forecast: The Lithium ion battery separator shutdowns the mechanism of the battery when abnormal heat generation occur with the battery cell.  Lithium ion battery separators are also used to prevent physical contact between anode and cathode while facilitating ion transport thereby preventing short circuit and increasing reliability of the lithium ion battery.

Lithium Hydroxide Market Overview: Lithium Hydroxide (LiOH) is widely used as an industrial lubricant, and in battery manufacturing. The compound is mainly consumed for production of lithium greases such as lithium stearate, which is very popular lubricating grease and offers high thermal resistance.

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