Battery, just like other things which performance can reduce with age, needs something to protect them. Battery additives can help to restore and repower various battery types to improve their safety and performance. Not only for battery, but there are also plastic additives that were added to plastic during the production process to improve its performance.

As many things utilize electricity and batteries nowadays, there has been an increasing demand for battery additives market. According to a research firm, GMI Research, battery additives market size would reach USD 2.9 billion in 2029. Based on the application, lead acid battery will hold the largest market share due to the application in ignition of automobiles.

This impressive growth is owing to several benefits that they offer. These compounds can mitigate common battery issues such as self-discharge and sulfation. Without sulfation, it can extend the battery life and ensure a reliable power supply. These additives can enhance overall battery efficiency, making them an essential aspect of energy storage solutions.

What Drives the Market?

There are several major drivers that can boost the market’s growth.

The growing adoption of EV and HEV in automotive industry
Electric vehicles and hybrid electric vehicles are increasingly popular. These vehicles do not produce harmful emissions and are also simple to operate. These vehicles do not use fossil fuels but use batteries that are powered by electricity. The rising adoption of these electric vehicles can also drive the growth of battery additives market.

The rising need for Li-ion batteries

There also has been the rising need for Li-ion batteries among electronic products. We can find these batteries in electric products such as cellphones, laptops, and other electronic products. As Li-ion batteries use additives, they can drive the growth of the market.

The increase investments for renewable energy
Many governments worldwide are taking proactive steps to use renewable energy to diversify energy sources. Many governments also impose regulations that promote the usage of greener energies. This support from the government can further propel the growth of the market, since battery is a crucial part of renewable energy storage systems.

The Challenges

However, there are some challenges that this market needs to address.

The high cost for produce battery additives

Unfortunately, there is a high cost to produce battery additives and the question whether the battery additives are worth the investment.

Safety issues related to lead-acid batteries

Another challenge is the rising safety issues related to lead-acid batteries. As there is a gas released when batteries are charging, there is a risk for explosion to happen. In addition, the acid in the batteries can also be extremely corrosive which can lead to injuries when it comes into contact with humans. This safety issue can further hinder the market's growth.

To prevent any incidences, there are several precautions. Workers should store or recharge the batteries in a well-ventilated area. The workers should also wear acid-resistant goggles or face shields. When the acid gets into your eyes, clean your eyes with water and immediately seek medical help.