supporting the growth of battery additives market. The lithium-ion battery segment is perceived
to see tremendous expansion in future owing to the multiple benefits it offers.
Furthermore, advancements in battery technology and the penetration of battery additives in the
end-use industries have led to a spur in the global battery additives market. Also, lead acid
batteries are finding several applications in consumer electronics and automotive industry. This
has positively impacted the battery additives market favorably leading to its expansion.
For more actionable insights into the competitive landscape of global market, get a
customized report here.
In addition to this, initiatives taken by governments to promote the use of alternative fuel
vehicles have fuelled the global battery additives market. An increasing environmental
awareness and rise in demand for renewable energy sources have further driven the industry’s
growth. Moreover, extensive use of rechargeable batteries has boosted the sale of battery
additives resulting in the market’s expansion.
However, along with the drivers there are a certain restraints posing a threat to the market’s
growth.
An inadequate support infrastructure for electric vehicles and safety issues related to battery
additives may hamper growth of the global battery additives market. Nonetheless, companies
are working on enhancing the durability and efficiency of battery additives. This factor will
broaden its scope of use, consequently leading to an expansion in the market.
Global Battery Additives Market: Geographical Distribution
Regionally, Asia Pacific holds the highest market share in the global battery additives market. In
this region, emerging economies such as India, China, and Indonesia have contributed to the
market’s growth. The growth in this region can be attributed to a high demand of electric
vehicles. The market in the U.S. is expected advance significantly during the forecast period
owing to an increasing adoption of electric forklift technologies. The battery additives market in
Europe is expected to grow moderately. Strict environmental regulations and increasing electric
vehicle sales majorly contribute to the market’s growth in Europe.
Global Battery Additives Market: Competitive Dynamics
Key players operating in the global battery additives market include 3M, Cabot Corporation,
HOPAX, SGL Carbon, PENOX, Hammond and Imerys. These companies are investing in R&D
activities to improve the shelf life of their products, consequently increasing their revenue share
in the market. They are also adopting new marketing strategies to increase product awareness
and improve their customer base.
Buy this report @ https://www.transparencymarketresearch.com/checkout.php?
rep_id=62391<ype=S
About Us