Global Electrolyte Market Size Maintains Steady Growth Trend Development
2023/7/3
Electrolyte market size is on the rise
An electrolyte is a solution or liquid that conducts electricity and usually contains ions to support the flow of current. It is used in many different applications. One common application is in batteries, particularly in various types of rechargeable batteries such as lithium-ion and lead-acid batteries. The electrolyte acts inside the battery to transfer ions to balance the charge, thus supporting the electrical energy storage and release process. Another common application is in electrolytes, such as medical beverages and infusions used to regulate the body's electrolyte balance, which are used to treat conditions such as dehydration and electrolyte disorders.
Since 2017, the overall global electrolyte market size has been on a year-on-year rise. since 2022, the global electrolyte market size has reached 82.420 billion yuan, up 92.39% year-on-year, as the growth in demand for lithium batteries drives a significant increase in electrolyte shipments. in 2022, China's electrolyte market size is 69.500 billion yuan, up 98.67% year-on-year. Electrolyte industry overview and status is expected to reach 133.31 billion yuan in 2025 for the global electrolyte market and 114.02 billion yuan for the Chinese electrolyte market.
In 2022, global electrolyte shipments will reach 1.043 million tons, and China's lithium battery electrolyte shipments will reach 891,000 tons, accounting for 85.4% of global electrolyte shipments, an increase of about 2.6 percentage points from 2021. The market share of Chinese companies in the global market has further increased by 7.4 percentage points from 2020.
The electrolyte industry overview and current situation shows that the combined market share of the top 10 domestic market players will reach 84.3% in 2021 and increase to 88.3% in 2022. in 2022, among the domestic electrolyte manufacturers, Tianzhi Materials, Xinzhoubang, BYD, Ruitai New Material, Kunlun New Material and Sinochem Blue Sky will account for 35.9%, 12.3%, 11.4%, 9.7%, 4.3% and 4.3% of shipments respectively, Among them, BYD produces lithium battery electrolyte for its own use. The industry's leading enterprises occupy a larger market share by virtue of their scale advantage, integrated layout and R&D capability.
Electrolyte market demand
Electrolyte market demand has been growing and has achieved significant growth in the past few years. This is mainly driven by the development of battery technology and the trend of electrification. With the popularity of electric vehicles, renewable energy storage systems, and portable electronic devices, among others, the demand for batteries is increasing rapidly, which is driving the growth in demand for electrolytes.
Lithium-ion batteries are the most dominant electrolyte market, especially for the electric vehicle market. China and Europe are the largest markets for electric vehicles in the world and hence the demand for electrolytes is high in these regions. In addition, other types of batteries, such as lead-acid, zinc-air, and sodium-ion batteries, also have demand for electrolytes to varying degrees.
With the development of renewable energy sources, the demand for energy storage systems such as large lithium-ion electricity and mobile battery storage systems is also increasing, which likewise the demand for electrolytes is growing. While Asia (particularly China, Japan, and South Korea) is currently the major region in the electrolyte market, other regions are also expected to increase their electrolyte demand. North America, Europe, and other Asia-Pacific countries are increasing their efforts to promote electric vehicles and energy storage systems, which will further boost the growth of the global electrolyte market.
In summary, with the rapid development of the global new energy vehicle industry continues to drive the electrolyte market. Electrolyte applications are also becoming more widespread due to the continuous advancement of related technologies.
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