The current EV market appears to be entering a slowdown phase (the so-called “chasm”) as purchases by early adopters have largely run their course. However, the overall battery market continues to experience rapid structural demand expansion, driven not only by EVs but also by applications such as ESS.
The battery materials market has also shown a temporary slowdown, yet demand is steadily increasing. In the case of electrolytes, demand rose from 520,000 tons in the first half of 2023 and 680,000 tons in the second half, to 660,000 tons in the first half of 2024 and 890,000 tons in the second half.
In the medium to long term, electrolyte demand is expected to grow consistently, maintaining an annual growth rate in the 10% range through 2035.
In this column, we will review the trends in the electrolyte market and explore how the market is expected to evolve in the mid- to long-term.
Contents
Ø2025 EV & Battery Market Status
ØMid-to-Long term Electrolyte Market Outlook