Global Lithium-Ion Battery Solvent Market Size Study by Type (Ethylene Carbonate, Propylene Carbonate), by End Use (EV, Consumer Electronics, Energy Storage), and Regional Forecasts 2022-2032
The Global Lithium-Ion Battery Solvent Market, valued at approximately USD 0.45 billion in 2023, is set to witness a transformative growth trajectory, reaching an estimated USD 2.01 billion by 2032, with a remarkable compound annual growth rate (CAGR) of 18.1% over the forecast period. Lithium-ion battery solvents play a pivotal role in enhancing the efficiency and longevity of batteries, driving advancements in key sectors such as electric vehicles (EVs), consumer electronics, and energy storage systems.
The increasing adoption of EVs, fueled by global environmental sustainability goals and supportive government policies, has exponentially boosted the demand for high-performance lithium-ion batteries. Solvents such as ethylene carbonate and propylene carbonate are indispensable in ensuring optimal battery performance, offering superior chemical stability and conductivity. However, challenges including stringent environmental regulations and fluctuating raw material prices pose potential roadblocks to market expansion. Nonetheless, continuous innovations in solvent chemistry and the integration of renewable energy storage solutions present significant growth opportunities.
North America and Europe dominate the market landscape due to extensive adoption of EVs and robust investments in renewable energy. The Asia-Pacific region is poised to register the fastest growth, underpinned by rapid industrialization, expanding energy storage needs, and a flourishing electronics industry in countries such as China, India, and Japan. Latin America and the Middle East & Africa are also witnessing growth, driven by infrastructure development and energy diversification initiatives.
The competitive landscape is characterized by significant R&D investments, strategic collaborations, and a focus on sustainable production practices. Major market players are committed to addressing evolving industry demands through innovative and eco-friendly solvent solutions.
Major market players included in this report are:
BASF SE
Mitsubishi Chemical Corporation
Ube Industries, Ltd.
Asahi Kasei Corporation
Kureha Corporation
Shandong Shida Shenghua Chemical Group Co., Ltd.
Huntsman Corporation
LG Chem
Shenzhen Capchem Technology Co., Ltd.
Daicel Corporation
Guangzhou Tinci Materials Technology Co., Ltd.
Arkema S.A.
Lotte Chemical Corporation
Solvay S.A.
Samsung SDI
The detailed segments and sub-segments of the market are explained below:
By Type:
Ethylene Carbonate
Propylene Carbonate
By End Use:
EV
Consumer Electronics
Energy Storage
By Region:
North America:
U.S.
Canada
Europe:
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific:
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Latin America:
Brazil
Mexico
Rest of Latin America
Middle East & Africa:
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level insights.
Competitive landscape with information on major players.
Analysis of key business strategies and future market opportunities.
Comprehensive demand-side and supply-side insights.
Table of Contents
Chapter 1. Global Lithium-Ion Battery Solvent Market Executive Summary
1.1. Global Lithium-Ion Battery Solvent Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Lithium-Ion Battery Solvent Market Definition and Research Assumptions