Please Wait.....
Report
India Electric Vehicle Battery Electrolyte - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 95 Pages I Mordor Intelligence
The India Electric Vehicle Battery Electrolyte Market size is estimated at USD 3.89 million in 2025, and is expected to reach USD 7.12 million by 2030, at a CAGR of 12.83% during the forecast period (2025-2030).
Key Highlights
- Over the medium term, the increasing adoption of electric vehicles, government policies, and associated investments in them are likely to drive the market.
- On the other hand, challenges associated with raw material availability and supply is expected to have a negative impact on the market.
- Continuous research and development in electrolyte materials is expected to provide future growth opportunities for the market.
- The lithium-ion battery type is expected to be the largest market for the India Electric Vehicle Battery Electrolyte during the study period.
India Electric Vehicle Battery Electrolyte Market Trends
Lithium-ion Battery to Grow Significantly
- Lithium-ion batteries are at the forefront of the electric vehicle (EV) revolution. Their superior energy density and extended life cycle make them pivotal to the automotive industry's shift toward sustainable energy solutions.
- In April 2023, Neogen Chemicals bolstered its manufacturing capabilities through a partnership with Japan's MU Ionic Solutions Corporation. The agreement allows Neogen to leverage MUIS's proprietary manufacturing technology. This strategic move positions Neogen to produce 30,000 MT annually of electrolyte solutions in India, directly addressing the rising demand from domestic lithium-ion cell manufacturers. Such developments are poised to fuel the growth of the electric vehicle battery electrolyte market.
- Similarly, in April 2023, Gujarat Fluorochemicals (GFL) announced a USD 600 million investment plan over three years, targeting battery and electrolyzer production in India. Their facility in Dahej, Gujarat, will commence operations with the production of Lithium hexafluorophosphate (LiPF6), a crucial electrolyte salt for lithium-ion batteries. Starting with a production capacity of 1800 tonnes per annum (tpa), GFL plans to scale up in response to the burgeoning demand for lithium-ion batteries, underscoring the expanding electric vehicle battery electrolyte market in India.
- In December 2023, Ami Organics entered into a Memorandum of Understanding with a prominent global electrolyte firm, paving the way for battery cell and electrolyte production in Gujarat. Demonstrating its commitment to India's "Make in India" initiative, Ami Organics is investing USD 35.8 million in a dedicated electrolyte production facility.
- Over the years, lithium-ion battery prices have plummeted, driving up demand for related components. Bloomberg NEF reports that the average lithium-ion battery price in 2023 was USD 139 USD/KWh, marking a staggering fivefold reduction since 2014. This price drop has accelerated the adoption of lithium-ion batteries, suggesting a bright future for the electrolyte market.
- Given the aforementioned trends in lithium-ion batteries and electrolyte production, the electric vehicle battery electrolyte market in India is poised for significant growth in the coming years.
Government Incentives to Raise Adoption of Electric Vehicles
- Electric vehicles (EVs) play a pivotal role in curbing carbon emissions from the transportation sector. The Indian government's FAME India scheme actively promotes the adoption of electric and hybrid vehicles, targeting a transition of 30% of total transportation to electric vehicles by 2030. This anticipated surge in electric vehicle adoption is poised to benefit India's electric vehicle battery electrolyte market.
- In a parallel effort, India's Production Linked Incentive (PLI) scheme, with an approved budget of USD 3.09 billion, has bolstered domestic electric vehicle manufacturing. The PLI scheme offers automakers a government grant ranging from 13-15% of their annual electric vehicle sales value. This incentive not only aims to amplify EV sales but also assists manufacturers in mitigating the costs associated with new technology investments. Consequently, this initiative has spurred demand for electrolytes in electric vehicle batteries across India.
- Furthermore, the Electric Mobility Promotion Scheme (EMPS) champions the use of electric two-wheelers and three-wheelers while simultaneously nurturing India's electric vehicle manufacturing ecosystem. Under the EMPS, a subsidy of approximately USD 60 is granted for each kilowatt hour of battery capacity. However, this subsidy is limited to 15% of the ex-factory cost (the vehicle's price at the factory gate before taxes) or specific caps: around USD 120 for two-wheelers, USD 300 for e-rickshaws and e-carts, and USD 600 for e-autos, whichever is lower for each category. Such initiatives are anticipated to elevate the demand for components like electrolytes in India's electric vehicle batteries.
- Additionally, India's electric vehicle market has shown a consistent upward trajectory in recent years. Data from the International Energy Agency reveals that electric car sales in India reached 82,000 units in 2023, marking a staggering 70% surge from the prior year. Given this momentum, the demand for electric vehicles in India is poised for further growth, which in turn is set to invigorate the electrolyte market.
- In light of these trends and developments, the outlook for India's Electric Vehicle Battery electrolyte Market appears promising.
India Electric Vehicle Battery Electrolyte Industry Overview
The India electric vehicle battery electrolyte market is semi-consolidated. Some of the major players (not in particular order) include Neogen Chemicals, Gujarat Fluorochemicals, Mitsubishi Chemical Group, Targray Technology International Inc, and Aether Industries Limited.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Government policies supporting adoption of electric vehicles
4.5.1.2 Declining Lithium-ion Battery Prices
4.5.2 Restraints
4.5.2.1 Limited avalibility and supply of raw materials
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
4.8 Investment Analysis
5 MARKET SEGMENTATION
5.1 Battery Type
5.1.1 Lead Acid Batteries
5.1.2 Lithium-ion Batteries
5.1.3 Other Battery Types
5.2 Electrolyte Type
5.2.1 Liquid Electrolyte
5.2.2 Gel Electrolyte
5.2.3 Solid Electrolyte
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Ami Organics Electrolytes Private Ltd.
6.3.2 Neogen Chemicals
6.3.3 Gujarat Fluorochemicals
6.3.4 3M India
6.3.5 BASF Shanshan Battery Materials Co.
6.3.6 Targray Technology International Inc
6.3.7 Aether Industries Limited
6.3.8 Tatva Chintan Pharma Chem Limited
6.3.9 Mitsubishi Chemical Group
6.3.10 S K Industries
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research & Development in electrolyte material
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security