Lithium-ion Battery’s Electrolyte Solvent Market : Business overview, Upcoming Trends and Forecast 2022-2031

The lithium-ion battery’s electrolyte solvent market is expected to expand at a CAGR of more than 22% during the forecast period. The major factors driving the growth of the market studied are the increasing demand from electric vehicle manufacturers and the growing demand from smartphone manufacturers.

– On the flipside, potential hazards caused by using impure electrolyte solvent and the impact of the COVID-19 outbreak are projected to hinder the growth of the market studied to some extent.
– Emerging technologies in the production of non-flammable solvents and the increasing scope of lithium-ion batteries in aerospace applications are likely to provide numerous opportunities for the manufacturers in the future.
– Asia-Pacific accounted for the largest share across the globe, with China clearly dominating the global demand.

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Key Market Trends

Dimethyl Carbonate (DMC) – the Largest and Fastest Growing Segment

– Dimethyl carbonate (DMC) is a most promising electrolyte solvent for lithium-ion battery, owing to its inherent safety and robustness. Commonly used organic solvents, like propylene or ethylene carbonates, have an issue because of their high viscosity, which limits the efficiency of the lithium electrochemical cycle. DMC has good solvation of lithium ions and a low viscosity, which eliminates that issue.
– Commercial processes for producing DMC include the phosgene route, liquid-phase methanol oxycarbonylation (a process developed by Enichem), and methylnitrite carbonylation (developed by UBE).
– Ube Industries Ltd is the largest supplier of diethyl carbonate, with a production capacity of nearly 175,000 metric tons per annum. Kindun Chemical Co. Limited, Shenzhen Capchem, and Dongwha Electrlyte are the other major players involved in the production of this solvent type.
– As Tesla’s Shanghai Gigafactory 3 entered its production phase in October 2019, the price of dimethyl carbonate started to rise in China, which is the largest market for lithium-ion battery electrolyte solvent, holding more than 70% of the market share.
– The DMC segment is expected to achieve the highest growth rate over the forecast period.

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