Research report published by Proficient Market Research “LiTFSI Market (By Type – LiTFSI Powder and LiTFSI Solution; By Application: Electrical vehicles, E-bikes, Smartphones, Laptops and Power tools) Post COVID-19 Scenario 2020 – 2028”, states that the global LiTFSI market is expected to grow at a CAGR of 9.1% during the forecast period from 2020 to 2028.
LiTFSI has a huge demand in the Lithium-ion batteries for protecting or eliminating the buildup of static electricity on the electric products. Since electronic products such as smartphones, laptops and tablets have high adoption rate among consumers, which helps to enhance the demand for the LiTFSI market. In addition, increasing use of electric vehicles and electric bicycles or e-bikes is also driving the growth of the LiTFSI market. With the onset of the Covid-19 pandemic, there was decrease in sales in the LiTFSI market since the 1st quarter of 2020 due to decreased demand for the electric vehicles, and e-bikes, across the world.
Trends and Future Outlook:
- Growing adoption of electric vehicles is anticipated to drive the demand for LiTFSI solution and powder
- Rising investment for developing fast charging batteries that are used in electric vehicles as well as in other consumer electronics
- Growing research towards developing gel polymer electrolyte based on LiTFSI for application in rechargeable lithium metal battery
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Key players in the market include Solvay SA, The 3M Company, Jiangsu Guotai Super Power New Materials Co., Ltd., PERIC Special Gases Co. Ltd., Monils Chemical (Shanghai) Co., Ltd., Ossila Ltd., Tokyo Chemical Industry Co., Ltd., XIAMEN TOB NEW ENERGY TECHNOLOGY Co., LTD., Time Chemical Co Ltd. and MTI Corporation.
The global LiTFSI market is categorized on the basis of product type, such as LiTFSI powder and LiTFSI solution. Among these types, LiTFSI solution segment dominated the market in 2019
The LiTFSI solution segment led the overall LiTFSI market in terms of market value accounting for over 60% of the global market. LiTFSI solution is widely used as it has a higher inclination to migrate over the material surfaces as compared to other forms and it is similarly used in the liquid electrolyte and polymer electrolyte of lithium batteries. LiTFSI solution has high intrinsic chemical, thermal stability and it is highly soluble in water (i.e. > 21 m).
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Global LiTFSI market is categorized on the basis of applications, such as electrical vehicles, e-bikes, smartphones, laptops and power tools. Among these applications, electrical vehicles have the maximum share in the LiTFSI market
the electrical vehicles led the overall LiTFSI market in terms of market value. Lithium-ion batteries have developed itself as one of the primary solution for the manufacturers to power the electrical and power hybrid vehicles. The factor that is supporting the adoption of the LITFSI in the lithium-ion batteries is the rising use of antistatic agents, because of its high charge retention capacity and high energy density.
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In 2019, Asia-Pacific held the largest share in the LiTFSI market because China has the largest consumption of lithium-ion batteries, that are required for electric vehicles, electric bicycles and smartphones and other electronic devices, which results in the rise of the sales figure. The increasing use of the electric vehicles, electric bicycle, smartphones and tablets in the developing countries, such as China and India is supporting the demand for the portable batteries. In 2019, electric vehicle production in China reached to 1.24 Mn units, and the sales reached to 1.21 Mn units, which in return has been increasing the growth of the LiTFSI market.
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