Lead Acid is defined as liquid substances that are made up of a mixture of water and sulfuric acid. It mainly used in batteries for the transportation of positive ions between the cathode and anode. It contains various substances such as soluble salts, acids, bases in liquid, gelled, and dry formats. Increasing adoption of consumer electronics, increasing usage of smart devices, and other consumer electronics, among others, are expected to drive the growth of the global lead-acid market over the forecast period.This growth is primarily driven by Increasing Demand for Electric Vehicles and Increased in the production of HEV, PHEV, and Electric Vehicle Battery and Lead Acid and Raising Awareness about Renewable Energy Storage.
Globally, a noticeable market trend is evident Increased Production of Lead Acid Battery for Evs across the World. Major Manufacturers, such as 3M (United States), BASF SE (Germany), LG Chem (South Korea), Mitsubishi Chemical Corporation (Japan), American Elements (United States), Ube Industries (Japan), Shenzhen Capchem Technology Co., Ltd. (China), Johnson Controls (United States), Guangzhou Tinci Materials Technology Co., Ltd. (China) and GS Yuasa Corporation (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On17th September 2020, Ahlstrom-Munksjö advances further into the energy storage market and has launched Ahlstrom-Munksjö Forticell LAB, its new portfolio of fiber-based solutions for Lead Acid Battery applications.
- Increasing Demand for Electric Vehicles and Increased in the production of HEV, PHEV, and Electric Vehicle Battery and Lead Acid
- Raising Awareness about Renewable Energy Storage
- Increased Production of Lead Acid Battery for Evs across the World
- Lack of Efficient Recycling Technologies for Battery Materials
Increasing Research Activities to Develop New Electrolytes and Rise in Local Electrolyte Manufacturers for Lead Acid Batteries in APAC
Lack of Government Subsidies and Incentives for Lead Acid Battery Manufacturers in Emerging Markets
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