Global Lithium-ion Battery’s Electrolyte Solvent Market (2022 to 2027) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Lithium-ion Battery’s Electrolyte Solvent Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The lithium-ion battery’s electrolyte solvent market is expected to expand at a CAGR of less than 20% during the forecast period (2022-2027).
Key Market Trends
Dimethyl Carbonate (DMC) Segment to Dominate the Market
- Dimethyl carbonate (DMC) is a most promising electrolyte solvent for lithium-ion battery, owing to its inherent safety and robustness. Commonly used organic solvents, like propylene or ethylene carbonates, have an issue because of their high viscosity, which limits the efficiency of the lithium electrochemical cycle. DMC has good solvation of lithium ions and a low viscosity, which eliminates that issue.
- Commercial processes for producing DMC include the phosgene route, liquid-phase methanol oxycarbonylation (a process developed by Enichem), and methylnitrite carbonylation (developed by UBE).
- Ube Industries Ltd is the largest supplier of diethyl carbonate, with a production capacity of nearly 175,000 metric tons per annum. Kindun Chemical Co. Limited, Shenzhen Capchem, and Dongwha Electrolyte are the other major players involved in the production of this solvent type.
- As Tesla’s Shanghai Gigafactory 3 entered its production phase in October 2019. Tesla Inc in February 2021, announced the plan to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China
- Thus, DMC segment is expected to dominate the global market.
Asia Pacific Region to dominate the Global Market.
- China is the largest car market for electric vehicles in the world. COVID-19 severely impacted the demand for electric vehicles in the initial years of the 2020s. However, a slight recovery in the May and June figures were observed, where plug sales have shown improvement. However, 2020 was expected to be a disappointment for the electric vehicles segment in the country.
- As of May 2021, Xpeng Motors, a Chinese electric car start-up, recently opened a large assembly plant in southeastern China. It is building a matching factory nearby.
- Another Chinese electric car company, Nio established a large factory in central China, and it is preparing to build a second one a few miles away.
- The Indian government has created momentum through its Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles schemes that encourage, and in some segments, mandate the adoption of electric vehicles (EV), to reach 30% EV penetration by 2030. The scheme creates demand incentives for EVs and supports the deployment of charging technologies and stations in urban centers.
- Although Japan plans to phase out petrol and diesel cars by the mid-2030s, and it is a powerhouse producer of hybrid cars, consumers have a limited choice when it comes to BEVs.
- The government faces pushback from the boss of Toyota, who said last year that “the current business model of the car industry is going to collapse” if the government moved too quickly. Toyota has no plans to mass-produce a BEV vehicle until 2025, although it is developing fuel-cell electric vehicles (FCEVs) which run on hydrogen.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from Electric Vehicle Manufacturers
4.1.2 Growing Demand from Smartphone Manufacturers
4.2.1 Potential Hazard Caused by Using Impure Electrolyte Solvent
4.2.2 Other Restraint
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Solvent Type
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Connect Chemicals
6.4.3 Dongwha Electrolyte
6.4.4 Huntsman International LLC
6.4.5 Kindun Chemical Co. Limited
6.4.6 Lixing Chemical
6.4.7 Merck KGaA
6.4.8 Mitsubishi Chemical Corporation
6.4.9 Oriental Union Chemical Corporation (OUCC)
6.4.10 Sankyo Chemical Co. Ltd
6.4.11 SES Holdings Pte Ltd
6.4.12 Shenzhen Capchem Technology Co. Ltd (CAPCHEM)
6.4.13 UBE INDUSTRIES,LTD.
6.4.14 Zhengzhou Meiya Chemical Products Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emerging Technologies in the Production of Non-flammable Solvents
7.2 Increasing Scope of Lithium-ion Batteries in Aerospace Applications
For more information about this report visit https://www.researchandmarkets.com/r/aad9t7
Laura Wood, Senior Press Manager
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