The battery additives market was valued at $1.7 billion in 2023, and is projected to reach $3.9 billion by 2033, growing at a CAGR of 8.5% from 2024 to 2033.
Battery additives refer to materials that are added to batteries in minute quantities to enhance the performance, cycleability, safety, thermal stability, and various physical properties of batteries. Addition of chemical additives prolongs the service life of batteries by dissolving the lead sulfate buildup on lead plates and internal connectors, thereby improving the overall battery performance. Suitable battery additives available in the market include caustic soda, EDTA - a crystalline acid - and Epsom salt. These additives are cost-effective, readily available, and thus serve as an ideal solution to extend the service of aging batteries.
The key driving factors of the global battery additives market include increase in penetration of portable electronics such as such as smartphones, laptops, tablets, and wearables. According to the estimates of Statista approximately 6.7 billion smartphone subscriptions were registered worldwide in 2023 among a global population of around 7.4 billion. Moreover, surge in adoption of electric vehicles significantly contributes toward the growth of the global market. According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase. These applications require high-performance batteries, which, in turn, propel the demand for battery additives, as they play a crucial role in improving battery efficiency and enhancing the longevity of electronic devices. Furthermore, surge in demand for biodegradable additives acts as the primary driver of the global battery additives market. Many smart devices are now being integrated with solid-state batteries, which reduce the risks of leakage and combustion as well as offer superior safety by replacing the liquid electrolyte. Solid-state batteries further prevent the formation of dendrite, which are needle-like structures that lead to short-circuit in batteries. Some solid electrolytes are made from nontoxic and abundantly available materials, which make them sustainable and cost-efficient. However, chemical additives cannot replace the active material of the batteries, which necessitates battery replacement. This is attributed to the fact that batteries are maintenance-prone and need regular replacement, thus lowering the dependence on additives to prolong battery life. This acts as a key deterrent factor of the global battery additives market. Moreover, the market growth is significantly hampered by improper disposal practices of batteries that can lead to several environmental and health issues due to toxicity of chemical additives. On the contrary, implementation of supportive government initiatives for proper battery disposal is expected to offer remunerative opportunities for the expansion of the global market during the forecast period. For instance, the Government of India has implemented the Hazardous Waste Management Rules, 2016, issued under the Environmental Protection Act (EPA) of 1986, which ensure strict adherence to the disposal and recycling of lead-acid batteries in India. Furthermore, manufacturers are focusing on exploring the potential of bio-based additives such as cellulose-based electrolytes and ionic liquids derived from amino acids and other biological precursors to achieve sustainability goals, which is expected to open new avenues for the expansion of the global market during the forecast period.
The global battery additive market is segmented into type, application, and region. By type, the market is classified into electrolyte additive, conductive additive, cathode additives, anode additives, and others. On the basis of application, it is categorized into lead-acid batteries, graphene batteries, lithium-ion batteries, and others. Region wise, the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.
Depending on application, the lithium-ion batteries segment is projected to dominate the market during the forecast period.
Region wise, battery additives are expected to gain high prominence in Asia-Pacific in the coming years.
Battery additives refer to materials that are added to batteries in minute quantities to enhance the performance, cycleability, safety, thermal stability, and various physical properties of batteries. Addition of chemical additives prolongs the service life of batteries by dissolving the lead sulfate buildup on lead plates and internal connectors, thereby improving the overall battery performance. Suitable battery additives available in the market include caustic soda, EDTA - a crystalline acid - and Epsom salt. These additives are cost-effective, readily available, and thus serve as an ideal solution to extend the service of aging batteries.
The key driving factors of the global battery additives market include increase in penetration of portable electronics such as such as smartphones, laptops, tablets, and wearables. According to the estimates of Statista approximately 6.7 billion smartphone subscriptions were registered worldwide in 2023 among a global population of around 7.4 billion. Moreover, surge in adoption of electric vehicles significantly contributes toward the growth of the global market. According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase. These applications require high-performance batteries, which, in turn, propel the demand for battery additives, as they play a crucial role in improving battery efficiency and enhancing the longevity of electronic devices. Furthermore, surge in demand for biodegradable additives acts as the primary driver of the global battery additives market. Many smart devices are now being integrated with solid-state batteries, which reduce the risks of leakage and combustion as well as offer superior safety by replacing the liquid electrolyte. Solid-state batteries further prevent the formation of dendrite, which are needle-like structures that lead to short-circuit in batteries. Some solid electrolytes are made from nontoxic and abundantly available materials, which make them sustainable and cost-efficient. However, chemical additives cannot replace the active material of the batteries, which necessitates battery replacement. This is attributed to the fact that batteries are maintenance-prone and need regular replacement, thus lowering the dependence on additives to prolong battery life. This acts as a key deterrent factor of the global battery additives market. Moreover, the market growth is significantly hampered by improper disposal practices of batteries that can lead to several environmental and health issues due to toxicity of chemical additives. On the contrary, implementation of supportive government initiatives for proper battery disposal is expected to offer remunerative opportunities for the expansion of the global market during the forecast period. For instance, the Government of India has implemented the Hazardous Waste Management Rules, 2016, issued under the Environmental Protection Act (EPA) of 1986, which ensure strict adherence to the disposal and recycling of lead-acid batteries in India. Furthermore, manufacturers are focusing on exploring the potential of bio-based additives such as cellulose-based electrolytes and ionic liquids derived from amino acids and other biological precursors to achieve sustainability goals, which is expected to open new avenues for the expansion of the global market during the forecast period.
The global battery additive market is segmented into type, application, and region. By type, the market is classified into electrolyte additive, conductive additive, cathode additives, anode additives, and others. On the basis of application, it is categorized into lead-acid batteries, graphene batteries, lithium-ion batteries, and others. Region wise, the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By type, the electrolyte additive segment is anticipated to exhibit the leading position by 2033.Depending on application, the lithium-ion batteries segment is projected to dominate the market during the forecast period.
Region wise, battery additives are expected to gain high prominence in Asia-Pacific in the coming years.
Competition Analysis
Competitive analysis and profiles of the major players in the global battery additives market include BASF SE, Ascend Performance Materials, ALTANA, Harsha Industries, Arkema, Cabot, 3M, Imerys S.A., Hammond Group, Inc., and SGL Carbon. These players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Type
- Electrolyte additive
- Conductive additive
- Cathode additives
- Anode additives
- Others
By Application
- Lead-acid batteries
- Graphene batteries
- Lithium-ion batteries
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- BASF SE
- Ascend Performance Materials
- ALTANA
- Harsha Industries
- Arkema
- Cabot
- 3M
- Imerys S.A.
- Hammond Group, Inc.
- SGL Carbon
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: BATTERY ADDITIVES MARKET, BY TYPE
CHAPTER 5: BATTERY ADDITIVES MARKET, BY APPLICATION
CHAPTER 6: BATTERY ADDITIVES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Battery Additives Market include:- BASF SE
- Ascend Performance Materials
- ALTANA
- Harsha Industries
- Arkema
- Cabot
- 3M
- Imerys S.A.
- Hammond Group, Inc.
- SGL Carbon
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 1.7 billion |
| Forecasted Market Value ( USD | $ 3.9 billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
