Lithium-Ion Battery Dispersant Market Size to Reach USD 2,578.2 Million by 2032 growing at 13.5% CAGR - Exclusive Report by Acumen Research and Consulting
Lithium-Ion Battery Dispersant Market, valued at USD 738.2 Million in 2022, is forecasted to exceed USD 2,578.2 Million by 2032, with a strong CAGR of 13.5%
The lithium-ion battery dispersant market has experienced major growth in recent years, primarily due to the rising demand for electric vehicles. Lithium-ion batteries are widely used for power storage in electric vehicles and have diverse applications in electronic devices such as laptops, smartphones, and others. Additionally, dispersants are used for particle separation in these batteries.
The first dispersant for lithium-ion batteries was developed by Kao. These dispersants promote the formation of a conductive network in the electrodes, which helps maintain higher battery capacity and resistance. However, safety concerns related to battery usage have become a restraint for the lithium-ion battery dispersant market.
Furthermore, the increasing demand for lithium-ion batteries in the automotive sector has further propelled the growth of the lithium-ion battery dispersant market. As a result, market participants are exploring new advancements, indicating a growing trend toward technological innovations in the lithium-ion battery dispersant market.
Lithium-Ion Battery Dispersant Market Statistics
- The global lithium-ion battery dispersant market generated USD 738.2 million in 2022,
- The li-ion battery dispersant market CAGR will reach 13.5% from 2024 to 2032
- North America conquers the market with a considerable 32% share in 2022
- Asia-Pacific projects potential growth with an estimated CAGR of 14%
- Block co-polymers segment dominates the type segment with USD 273.2 million revenue in 2022
- Consumer electronics on the other hand achieved 32% share in 2022
- A discernible trend in the lithium-ion battery dispersant market is increasing focus on eco-friendly dispersant materials
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Lithium-Ion Battery Dispersant Market Dynamics
Growing Demand for Electrical Vehicles Fuels the Lithium-Ion Battery Dispersant Market Value
The growing demand for electric vehicles is driving the growth of the lithium-ion battery dispersant market. In recent years, EV production has expanded rapidly. For example, in 2022, the M Glory Holding Group opened a new USD 408 million electric vehicle manufacturing unit in Dubai, with a capacity to produce 55,000 EVs annually. This rapid increase in electric vehicle production directly contributes to the growth of the lithium-ion battery dispersant market.
Furthermore, global sales of electric vehicles have surged due to increasing adoption of technological advancements. For instance, India has emerged as a significant player in this trend, with a reported surge of 1.5 million electric vehicle sales in 2023.
Declining Battery Cost Offers Significant Lithium-Ion Battery Dispersant Market Opportunity
Decline in the battery cost creates and opportunity for the lithium-ion battery dispersant market in the forecast years. In recent years manufacturing companies of lithium-ion batteries and automotive industries have suggested that the cost of batteries declined and this is due to the reduction in the charge of components. For instance, the cost of lithium-ion batteries is reduced by 40% from INR 161/kWh in 2022 by BloombergNEF's annual lithium-ion battery price survey. In 2018, this was the largest decline observed in lithium-ion battery charges. In essence, this decline in the cost is becoming an opportunity for the lithium-ion battery dispersant market in the forecast year.
Lithium-Ion Battery Dispersant Market Segmentation
The global market for lithium-ion battery dispersant has been segmented into type, end-use, and region.
- Type is categorized into block co-polymers, naphthalene sulphonate, lignosulphonates, and others
- End-use is sub-segmented into consumer electronics, electric vehicles, military, industrial, and others
- The lithium-ion battery dispersant market is geographically split into North America, APAC, Latin America, Europe, and the Middle East and Africa
Lithium-Ion Battery Dispersant Market Regional Outlook
In terms of lithium-ion battery dispersant market analysis, based on regional analysis, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East, and Africa. North America dominates the lithium-ion battery dispersant market. Countries like the U.S., Canada, and Mexico contain the presence of robust key players due to their robust research and development region maintaining its dominance in this market. Investments in electric vehicles in this region further propel the growth. For instance, plan for building a nearly 2 trillion yen plant for electric vehicles by Honda Motor Co., in Canada for the production of batteries. Moreover, the growing automotive sector further boosts the demand for lithium-ion batteries dispersant market. For instance, the United States is one of the leading countries in the automotive sector. Also, it is the second-largest country for vehicle sales and production in 2020. Furthermore, the region's dominance is attributed to the growing number of electronic users. Lithium-ion batteries are used in electronic devices so the number of electronic users has increased then the market for lithium-ion batteries is also propelled.
Additionally, Asia-Pacific is the fastest-growing region in the lithium-ion batteries dispersant market due to the rising adoption of portable electronic devices. Lithium ions are used in various electronic devices and China is at the forefront for the growing electronic users in this region. Furthermore, the demand is growing due to the production of electric vehicles in this region. India also propelled the market due to the presence of robust key players. For instance, Tata Motors is the largest producer of electric vehicles in India.
Lithium-Ion Battery Dispersant Market Players
Lithium-ion battery dispersant companies profiled in the report include Ashland, Borregaard AS, Croda International PLC, The Lubrizol Corporation, Dow Chemical Company, Toyocolor Co. Ltd, LG Chem, Kao Corporation, Solvay S.A., and Azko Nobel N.V.
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