What is the global battery electrolyte market?

The global battery electrolyte market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the Electric Vehicles Initiative (EVI) is a multi-government strategy to speed up electric vehicle adoption.

What drives the development of battery electrolyte market?

An increase in demand for electric vehicles to decrease carbon footprint, the fast rise in automotive revenues, elevated demand from the battery replacement market and increased share of alternative energy sources in the energy mix are the main drivers of the development of the battery electrolyte market.

Who are the key players in the battery electrolyte market?

Key players operating in the battery electrolyte market are Mitsubishi Chemical Corporation (Japan), UBE Corporation (Japan), 3M (US), GS Yuasa International Ltd. (Japan), and Capchem (China), among others. To know about the assumptions considered for the study download the pdf brochure

What is battery electrolyte?

Battery electrolyte is the liquid substance found in most automobile batteries. Sometimes it is called battery acid because it is extremely acidic. In fact, a mixture of water and sulfuric acid actually consists of battery electrolyte. Battery involves three major components that are an anode, cathode, and electrolyte.

Which liquid electrolytes are used in batteries?

One of the widely used liquid electrolytes is sulfuric acid and sodium hydroxide. Batteries of lead-acid, nickel-cadmium and nickel-metal-hydride use liquid electrolytes like sulfuric acid and potassium hydroxide, and thus the electrolyte market is dominated by the liquid electrolyte segment.

Which region will dominate the electrolyte market?

Asia-Pacific is expected to the dominant player as the market for electrolyte is boosting due to the rising demand from various end-use industries, such as electric vehicles, energy storage, and portable consumer electronics.