Are electrolyte solvents affecting the lithium-ion battery market?

The increasing demand from electric vehicle manufacturers and growing demand from smartphone manufacturers are likely to drive the demand for lithium-ion battery’s electrolyte solvents. On the flip side, potential hazards caused by using impure electrolyte solvent is expected to hinder the growth of the market.

Which region is largest market for lithium-ion battery's electrolyte solvent?

Asia-Pacific region is largest market for lithium-ion battery's electrolyte solvent and is expected to remain the largest market in the forecast period owing to significant demand for lithium-ion battery mainly for the application in automotive and electronics industries majorly form the China, India, and Japan.

What is the global lithium-ion battery market size?

Lithium-ion battery global market size, GWh. Our paper forecasts that India's annual lithium-ion battery demand will increase by 37.5 percent at a CAGR to hit 132 GWh in 2030, as shown in Fig. 5. The projected growth in the lithium-ion battery's total market share is approximately 2.9 GWh to about 800 GWh from the year 2018–2030.

Why is solvent used in lithium ion batteries?

Solvent is used in the batteries to adjust the concentration of the electrolyte, along with the formation of a protective layer between electrolyte and electrons. These solvents are mixed to decrease the electrolyte’s viscosity and increase the solubility of lithium salts.

Which companies operate in the global lithium battery market?

This article will examine some of the leading companies operating in the global lithium battery market, which include Livent Corporation (NYSE: LTHM ), Sociedad Quimica y Minera (NYSE: SQM ), and Albemarle Corporation (NYSE: ALB) . These stocks, among others, are discussed in detail below.

Are lithium ion batteries good for electric vehicles?

Lithium-ion batteries have a high power-to-weight ratio, which is the major advantage that is driving its growth in electric vehicle applications.vThe other advantages, such as high energy efficiency, good high-temperature performance, and low self-discharge, are also playing a part in improving EVs.