The global Lithium-Ion Battery Electrolyte Solvent Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Solvent (Ethylene Carbonate (EC), Diethyl Carbonate (DEC), Dimethyl Carbonate (DMC), Ethyl Methyl Carbonate (EMC), Propylene Carbonate (PC), Others), By Application (Power Backups/UPS, Consumer Electronics, Electric Mobility/Vehicles, Energy Storage Systems, Others).
Lithium-ion batteries (LIBs) are rechargeable energy storage devices widely used in portable electronics, electric vehicles, and renewable energy systems, with electrolytes playing a critical role in their performance and safety in 2024. The electrolyte is a key component of LIBs, facilitating the movement of lithium ions between the positive and negative electrodes during charging and discharging cycles. The solvent used in LIB electrolytes serves as a medium for lithium ion transport and facilitates ion conduction within the battery cell. Common solvents used in LIB electrolytes include ethylene carbonate (EC), diethyl carbonate (DEC), dimethyl carbonate (DMC), and ethyl methyl carbonate (EMC), among others. These solvents are typically mixed with lithium salts, such as lithium hexafluorophosphate (LiPF6) or lithium bis(trifluoromethanesulfonyl)imide (LiTFSI), to form electrolyte solutions with the desired conductivity, viscosity, and stability. The choice of solvent composition and electrolyte formulation can significantly impact the performance, safety, and lifespan of LIBs, with considerations for temperature stability, chemical compatibility, and flammability. With the increasing demand for high-energy-density and long-lasting batteries in electric vehicles and grid-scale energy storage systems, research efforts are focused on developing advanced electrolytes with improved conductivity, stability, and safety profiles. Emerging electrolyte technologies, such as solid electrolytes and polymer electrolytes, offer potential advantages in terms of safety, energy density, and cycle life compared to traditional liquid electrolytes. As the demand for lithium-ion batteries s to grow, driven by the transition to electric mobility and renewable energy integration, electrolyte solvents play a crucial role in enabling the widespread adoption of clean and sustainable energy technologies.
The market report analyses the leading companies in the industry including BASF SE, Connect Chemicals, Dongwha Electrolyte, Huntsman International LLC, Kindun Chemical Co. Limited, Lixing Chemical, Lotte Chemical, Merck KGaA, Mitsubishi Chemical Corp, OUCC, Sankyo Chemical Co. Ltd, Shenzhen Capchem Technology Co. Ltd (CAPCHEM), UBE Corp, Zhengzhou Meiya Chemical Products Co. Ltd, and others.
A significant trend in the lithium-ion battery electrolyte solvent market is the shift towards high-performance and safer electrolyte formulations. As demand for lithium-ion batteries continues to surge in applications such as electric vehicles, consumer electronics, and energy storage systems, there is a growing emphasis on enhancing battery performance, safety, and lifespan. Electrolyte solvents play a critical role in battery performance by facilitating ion transport between the electrodes, improving electrolyte stability, and minimizing side reactions. Manufacturers are developing innovative electrolyte solvent formulations with improved thermal stability, high ionic conductivity, and enhanced safety characteristics, such as reduced flammability and volatility. This trend towards high-performance and safer electrolyte solvents drives market dynamics as battery manufacturers seek to optimize battery performance and address safety concerns associated with lithium-ion batteries.
A key driver fueling the lithium-ion battery electrolyte solvent market is the growth in electric vehicle (EV) adoption and energy storage solutions. Lithium-ion batteries are the preferred energy storage technology for electric vehicles due to their high energy density, long cycle life, and fast charging capabilities. With increasing government regulations aimed at reducing carbon emissions and promoting sustainable transportation, there is a rapid expansion of EV manufacturing and deployment worldwide. Additionally, the growing demand for renewable energy integration and grid stabilization solutions drives the adoption of lithium-ion batteries in energy storage applications. As a result, there is a surge in demand for electrolyte solvents to support the production of lithium-ion batteries for electric vehicles, stationary storage systems, and portable electronics, propelling market growth in the electrolyte solvent segment.
A promising opportunity for the lithium-ion battery electrolyte solvent market lies in the development of next-generation electrolyte additives and formulations. With continuous advancements in battery technology and materials science, there is ongoing research and development focused on improving battery performance, safety, and lifespan. Electrolyte additives play a crucial role in enhancing battery performance by optimizing electrolyte composition, suppressing dendrite formation, and mitigating side reactions at electrode-electrolyte interfaces. Manufacturers have an opportunity to invest in the development of novel electrolyte additives such as lithium salts, solvents, and additives with improved compatibility, stability, and conductivity. By collaborating with battery manufacturers, research institutions, and chemical suppliers, companies can accelerate the commercialization of advanced electrolyte formulations that meet the evolving needs of the lithium-ion battery industry. This opportunity allows electrolyte solvent manufacturers to differentiate their products, capture market share, and contribute to the advancement of battery technology for sustainable energy storage solutions.
The largest segment within the lithium-ion battery electrolytes solvent market is propylene carbonate (PC). The large revenue share is primarily due to the widespread use of PC as a solvent in lithium-ion battery electrolytes formulations. PC exhibits desirable properties for battery applications, including high polarity, excellent solvating power for lithium salts, low viscosity, and wide electrochemical stability window. These properties make PC an ideal solvent for dissolving lithium salts and facilitating the transport of lithium ions between the battery electrodes during charge and discharge cycles. Moreover, PC enhances thermal stability and safety of lithium-ion batteries by forming a stable and protective passivation layer on the electrode surfaces, reducing the risk of thermal runaway and battery failure. Additionally, PC offers compatibility with other electrolyte additives and materials commonly used in lithium-ion battery manufacturing, further contributing to its widespread adoption in the industry. As the demand for lithium-ion batteries continues to surge, driven by the electrification of vehicles, energy storage systems, and portable electronics, the demand for PC as a key electrolyte solvent is expected to remain strong, consolidating its position as the largest segment in the lithium-ion battery electrolytes solvent market.
The fastest-growing segment within the lithium-ion battery electrolytes solvent market is electric mobility/vehicles. This rapid growth can be attributed to the global shift towards electrification in the automotive industry and the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Lithium-ion batteries serve as the primary energy storage solution in EVs and HEVs, offering high energy density, long cycle life, and fast charging capabilities. Electrolytes solvents play a crucial role in the performance and safety of lithium-ion batteries used in electric vehicles, facilitating the transport of lithium ions between the battery electrodes during charge and discharge cycles. As governments worldwide implement stringent emission regulations and incentives to promote clean transportation solutions, the demand for EVs and HEVs continues to rise exponentially. Additionally, advancements in battery technology, coupled with declining battery costs, are making electric vehicles more affordable and accessible to consumers. Consequently, the demand for lithium-ion battery electrolytes solvents, including those suitable for electric mobility applications, is experiencing significant growth. As the automotive industry accelerates its transition towards electrification, the electric mobility/vehicles segment is poised to drive substantial expansion in the lithium-ion battery electrolytes solvent market.
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
BASF SE
Connect Chemicals
Dongwha Electrolyte
Huntsman International LLC
Kindun Chemical Co. Limited
Lixing Chemical
Lotte Chemical
Merck KGaA
Mitsubishi Chemical Corp
OUCC
Sankyo Chemical Co. Ltd
Shenzhen Capchem Technology Co. Ltd (CAPCHEM)
UBE Corp
Zhengzhou Meiya Chemical Products Co. Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Lithium Ion Battery Electrolyte Solvent Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Lithium Ion Battery Electrolyte Solvent Market Size Outlook, $ Million, 2021 to 2032
3.2 Lithium Ion Battery Electrolyte Solvent Market Outlook by Type, $ Million, 2021 to 2032
3.3 Lithium Ion Battery Electrolyte Solvent Market Outlook by Product, $ Million, 2021 to 2032
3.4 Lithium Ion Battery Electrolyte Solvent Market Outlook by Application, $ Million, 2021 to 2032
3.5 Lithium Ion Battery Electrolyte Solvent Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Lithium Ion Battery Electrolyte Solvent Industry
4.2 Key Market Trends in Lithium Ion Battery Electrolyte Solvent Industry
4.3 Potential Opportunities in Lithium Ion Battery Electrolyte Solvent Industry
4.4 Key Challenges in Lithium Ion Battery Electrolyte Solvent Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Lithium Ion Battery Electrolyte Solvent Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Lithium Ion Battery Electrolyte Solvent Market Outlook by Segments
7.1 Lithium Ion Battery Electrolyte Solvent Market Outlook by Segments, $ Million, 2021- 2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
8 North America Lithium Ion Battery Electrolyte Solvent Market Analysis and Outlook To 2032
8.1 Introduction to North America Lithium Ion Battery Electrolyte Solvent Markets in 2024
8.2 North America Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Lithium Ion Battery Electrolyte Solvent Market size Outlook by Segments, 2021-2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
9 Europe Lithium Ion Battery Electrolyte Solvent Market Analysis and Outlook To 2032
9.1 Introduction to Europe Lithium Ion Battery Electrolyte Solvent Markets in 2024
9.2 Europe Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Segments, 2021-2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
10 Asia Pacific Lithium Ion Battery Electrolyte Solvent Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Lithium Ion Battery Electrolyte Solvent Markets in 2024
10.2 Asia Pacific Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Lithium Ion Battery Electrolyte Solvent Market size Outlook by Segments, 2021-2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
11 South America Lithium Ion Battery Electrolyte Solvent Market Analysis and Outlook To 2032
11.1 Introduction to South America Lithium Ion Battery Electrolyte Solvent Markets in 2024
11.2 South America Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Lithium Ion Battery Electrolyte Solvent Market size Outlook by Segments, 2021-2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
12 Middle East and Africa Lithium Ion Battery Electrolyte Solvent Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Lithium Ion Battery Electrolyte Solvent Markets in 2024
12.2 Middle East and Africa Lithium Ion Battery Electrolyte Solvent Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Lithium Ion Battery Electrolyte Solvent Market size Outlook by Segments, 2021-2032
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
BASF SE
Connect Chemicals
Dongwha Electrolyte
Huntsman International LLC
Kindun Chemical Co. Limited
Lixing Chemical
Lotte Chemical
Merck KGaA
Mitsubishi Chemical Corp
OUCC
Sankyo Chemical Co. Ltd
Shenzhen Capchem Technology Co. Ltd (CAPCHEM)
UBE Corp
Zhengzhou Meiya Chemical Products Co. Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Solvent
Ethylene Carbonate (EC)
Diethyl Carbonate (DEC)
Dimethyl Carbonate (DMC)
Ethyl Methyl Carbonate (EMC)
Propylene Carbonate (PC)
Others
By Application
Power Backups/UPS
Consumer Electronics
Electric Mobility/Vehicles
Energy Storage Systems
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Lithium-Ion Battery Electrolyte Solvent Market Size is valued at $1.8 Billion in 2024 and is forecast to register a growth rate (CAGR) of 12.2% to reach $4.5 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
BASF SE, Connect Chemicals, Dongwha Electrolyte, Huntsman International LLC, Kindun Chemical Co. Limited, Lixing Chemical, Lotte Chemical, Merck KGaA, Mitsubishi Chemical Corp, OUCC, Sankyo Chemical Co. Ltd, Shenzhen Capchem Technology Co. Ltd (CAPCHEM), UBE Corp, Zhengzhou Meiya Chemical Products Co. Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume