The development of battery powered vehicles owing to the rise in demand for consumers and growth in population are propelling the market growth.
New York City, United States – June 23, 2020 /MarketersMedia/ —
The global battery additives market is forecast to reach USD 2.59 Billion by 2026, according to a new report by Reports and Data. Battery additives are specialty chemicals that are utilized in the manufacturing and maintenance of batteries. During the normal functioning of a battery, the electrodes accumulate crystals also called sulfation. These crystals reduce the ability of the battery to charge, discharge, and depreciates the output of the batteries over time. Shading of battery plates occurs over time, which, in turn, causes sedimentation at the bottom part of the batteries, causing a short circuit.
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Key players mentioned in the research report are:
3M Co., Cabot Corporation, Hammond Group, Colonial Chemical Corp., Orion Engineered Carbons, Altana AG, Zircon Industries, Atomized Products Group Inc., Prince International Corporation, and SGL Group, among others.
In terms of applications, the global Battery Additives market can be segmented into:
In terms of types, the global Battery Additives market can be segmented into:
The Battery Additives Market is analyzed on the basis of dynamics of demand and supply, pricing, total volume produced, revenue generated, and others. The manufacturing is studied on the basis of several factors such as manufacturing plant distribution, industry production, production capacity, and research and development. It also delivers accurate market evaluations with the use of SWOT analysis, investment analysis, returns analysis, and growth trend analysis, and others.
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Battery Additives Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• The porous additive segment is set to observe the highest CAGR of 10.2% during the forecast period. This is owing to the high utility in electric vehicles and the cheap manufacturing cost of this type of batteries.
• Lead-acid batteries held the largest market share of 49.5% in the year 2018, owing to its increased utility in the automotive segment. They are being utilized highly in regions where the infrastructure for electric vehicles has developed in the previous years. Usage of additives in this segment allows the batteries to last longer against corrosion, self-discharging and overcharging.
• The conductive segment for battery additives held the largest market share of 32.9% in the year 2018. This is owing to the rapid research in the scope of this additive type. The development of solid-state batteries is directly relatable to the advancement in the conductive segment for batteries.
• Asia Pacific is forecasted to observe the highest CAGR of 11.3% during the forecast period. Countries like India and China are rapidly catching on with the growth in the battery additive market. The advent of electric vehicles owing to their environment-friendly nature is boosting the market growth in this region.
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