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Description
Battery Additives Market size was valued at USD 2.0 billion in 2021 and is expected to reach USD 3.7 billion by 2028, at a CAGR of 9.4% during the forecast period 2022-2028. Some of the key factors fuelling the market growth include increasing investments in renewable energy, growing demand for li-ion batteries in consumer electronics applications, rising demand for li-ion batteries in consumer electronics applications, high demand for Li-Ion batteries in consumer electronics applications, advancements in battery technology and the penetration of battery additives in the end-use industries and initiatives taken by governments to promote the use of alternative fuel vehicles. However, stringent safety issues related to batteries and regulations and safety issues related to lead acid batteries are some major factors hindering the market growth. Further, technological advancements provides huge growth opportunity for the market growth. Global battery additives market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In February 2016, Cabot Corporation launched a new conductive additive, LITX 300, for Li-ion battery applications. This new additive is easy to disperse as well as incorporate in the Li-ion battery manufacturing process. It also improves conductivity, flexibility, and shelf life of Li-ion batteries. This report studies global battery additives market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global battery additives market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
Key Development:
On March 01, 2022, Cabot Corporation completed the acquistion of Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group. The acquisition expands Cabot’s manufacturing capacity to support the growth of its Battery Materials product line, while continuing to serve existing carbon black customers.
On December 01, 2021, Cabot Corporation announced it has signed a Memorandum of Understanding (MOU) with IFF Health and Biosciences for the development and commercialization of sustainable reinforcing additives for rubber products. IFF will exclusively work together to accelerate the advancement of innovative solutions that reduce greenhouse gas emissions and increase the amount of renewable bio-based content in rubber products.
