Non-aqueous Electrolyte Market Size, Share, Trends, Growth and Forecast 2032

Non-aqueous Electrolyte Industry Prospective:

The global non-aqueous electrolyte market size was evaluated at $4.17 billion in 2023 and is slated to hit $15.33 billion by the end of 2032 with a CAGR of nearly 15.56% between 2024 and 2032.  

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Non-aqueous Electrolyte Market: Overview

Non-aqueous electrolytes are applied in supercapacitors as they provide electrochemical stability and can combat the leaking issues of the systems. Furthermore, typical nonaqueous electrolytes are quaternary ammonium salts that are distributed in carbonates or acetonitrile including tetraethyl ammonium propylene carbonate, tetraethyl ammonium tetrafluoroborate, and triethyl methyl ammonium tetrafluoroborate carbonates.

Key Insights

• As per the analysis shared by our research analyst, the global non-aqueous electrolyte market is projected to expand annually at the annual growth rate of around 15.56% over the forecast timespan (2024-2032)
• In terms of revenue, the global non-aqueous electrolyte market size was evaluated at nearly $4.17 billion in 2023 and is expected to reach $15.33 billion by 2032.
• The global non-aqueous electrolyte market is anticipated to grow rapidly over the forecast timeline owing to a rise in the acceptance of products in the automotive sector in a slew of developed countries.
• In terms of application, the lithium-ion battery segment is slated to register the highest CAGR over the forecast period.
• Based on end-use, the consumer electronics segment is predicted to contribute majorly towards the global industry share in the upcoming years.
• Based on type, the organic segment is predicted to contribute majorly towards the global market size in the ensuing years.
• Region-wise, the European non-aqueous electrolyte industry is projected to register the fastest CAGR during the projected timespan.

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Non-aqueous Electrolyte Market: Growth Factors

A surge in the product usage in automotive production to promote the global market elevation by 2032

A rise in the acceptance of products in the automotive sector in a slew of developed countries will prompt the growth of the global non-aqueous electrolyte market. Humungous demand for products in manufacturing electric vehicles along with the growing trend of electric transportation is anticipated to prop up the expansion of the global market.

Government incentives for the purchase of electric vehicles to reduce carbon emissions are likely to enhance the scope of the global market in the near future.  An increase in the production of vehicles is predicted to account notably for the growth of the market across the globe.

Non-aqueous Electrolyte Market: Restraints

A surge in the raw component prices can impede the expansion of the global industry over forecast period

A rise in the cost of raw components and dynamic pricing is anticipated to decimate the expansion of the global non-aqueous electrolyte industry in the years ahead.  Disruption in the supply chain activities and oscillation in the prices of raw materials can put brakes on the global industry.

Non-aqueous Electrolyte Market: Opportunities

A rise in investment in energy storage services to open new growth avenues for the global market

A prominent increment in the allocation of funds in energy storage services along with surging urbanization will shape the growth of the global non-aqueous electrolyte market. Additionally, a rise in customer expenditure will further account for the global market size in the years ahead. The rapid increase in the production units in developing countries will open new growth avenues for the market globally.

Non-aqueous Electrolyte Market: Challenges

Stringent legislation pertaining to product usage can obstruct the expansion of the global industry

Strict laws regarding the use of the product can challenge the expansion of the global non-aqueous electrolyte industry.

Non-aqueous Electrolyte Market: Segmentation

The global non-aqueous electrolyte market is divided into application, end-use, type, and region.                                         

In application terms, the non-aqueous electrolyte market across the globe is bifurcated into lithium-ion battery, solid-state battery, and sodium-ion battery segments. Additionally, the lithium-ion battery segment, which acquired nearly 71% of the global market earnings in 2023, is expected to record the fastest annual rate of growth in the forecast timespan. The expansion of the segment in the next eight years can be owing to the rise in the use of lithium-ion batteries in various kinds of automotive. Furthermore, the growing use of electric as well as hybrid vehicles will enlarge the demand for lithium-ion batteries in the coming years.

Based on the end-use, the global non-aqueous electrolyte industry is divided into automotive, energy storage, and consumer electronics segments. Moreover, the consumer electronics segment, which accumulated about 60% of the global industry size in 2023, is anticipated to make sizable contributions toward the global industry share over the analysis timeframe. The progress of the segment in the upcoming years can be attributed to a rise in the use of products in consumer electronics goods.  

Based on the type, the global non-aqueous electrolyte market is divided into inorganic and organic segments. In addition to this, the organic segment, which accumulated about 57% of the global market size in 2023, is anticipated to make sizable contributions towards the global market share over the analysis timeframe. The elevation of the segment in the upcoming years can be attributed to the massive use of the product in organic form in the automotive sector.

Non-aqueous Electrolyte Market: Report Scope

Non-aqueous Electrolyte Market: Regional Insights

North America is expected to maintain its leadership status in the global market in the next couple of years

North America, which contributed approximately 56% of the global non-aqueous electrolyte market earnings in 2023, is predicted to maintain the number one position in the global market in the years ahead. In addition to this, the regional market expansion in the forecasting years can be owing to a surge in the number of individuals preferring eco-friendly modes of transport. The humungous need for electrification and government incentives promoting the use of electric vehicles in countries such as Canada and the U.S. will steer the regional market surge over the assessment period.

The European non-aqueous electrolyte industry is anticipated to register the fastest growth rate in the forecast timeline. The swift growth of the industry in the continent over 2024-2032 can be credited to strong technological growth and a rise in product manufacture in countries such as France, Italy, the UK, and Germany. In addition to this, the presence of key players in the continent along with the demand for renewable energy sources will translate into humungous product demand in the ensuing years.   

Key Developments

• In the first half of 2024, Ampera Inc., a key player developing next-gen solid-state batteries & solid-state electrolytes, declared it can charge all its solid-state batteries to nearly 80% in just 15 minutes.

Non-aqueous Electrolyte Market: Competitive Space

The global non-aqueous electrolyte market profiles key players such as:

• Solid Power
• Ampcera
• NEI Corporation
• Targray
• Mitsubishi Gas Chemical Company Inc.
• POSCO
• Mitsui Chemicals Inc.
• Contemporary Amperex Technology Co.
• Limited
• UBE Corporation
• Amprius Technologies
• American Elements
• Electrovaya
• CAPCHEM
• LG Chem.

The global non-aqueous electrolyte market is segmented as follows:

By Application

• Lithium-Ion Battery
• Solid-State Battery
• Sodium-Ion Battery

By End-Use

• Automotive
• Energy Storage
• Consumer Electronics

 By Type

• Inorganic
•  Organic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa