The global battery materials market reached a value of US$ 47.65 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 68.67 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Battery materials are individual materials potentially present in cell electrodes, electrolytes, and separators. They comprise antimony (Sb), cadmium (Cd), copper (Cu), lead (Pb), silicon (Si), lithium (Li), cobalt (Co), nickel (Ni), zinc (Zn), graphite (C), and manganese (Mn). Among these, C has the highest proportion by volume of all the battery raw materials as it helps avoid dendrite formation and the high reactivity of alkali metal anodes. At present, as batteries find extensive applications in household appliances, military electronics, medical equipment, and portable devices, the demand for battery materials is rising across the globe.
Battery Materials Market Trends:
- There is considerable reliance on smartphones, laptops, and other electronic devices worldwide. This represents one of the key factors bolstering the growth of the market. Besides this, governments of numerous countries are offering subsidies and financial incentives like grants or tax rebates to encourage the adoption of electric vehicles (EVs) and reduce carbon emissions. This, coupled with the burgeoning automotive industry, is driving the market. Moreover, there is a rise in the use of lithium-ion batteries (LIBs) around the world on account of their high energy density. They also provide emergency backup power in case of power loss or fluctuation, which is required for office equipment like computers and IT servers. In line with this, they are emerging as an alternative to gasoline and lead-acid batteries in powering speed boats and yachts. In addition, LIBs are utilized in wheelchairs, bikes, scooters, and other mobility aids for individuals with mobility restrictions. Furthermore, key players are increasingly focusing on agreements/partnerships with domestic players to increase their geographical presence, which is fueling the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global battery materials market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, battery type and application.
Breakup by Type:
Breakup by Battery Type:
- Lithium Ion
- Lead Acid
Breakup by Application:
- Automobile Industry
- Household Appliances
- Electronics Industry
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Asahi Kasei Corporation, BASF SE, Entek International Ltd., Johnson Matthey, Livent, Mitsubishi Chemical Holdings Corporation, Nichia Corporation, Showa Denko K. K., Sumitomo Chemical Co. Ltd., Targray Technology International Inc. and Umicore N.V.
Key Questions Answered in This Report:
- How has the global battery materials market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global battery materials market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the battery type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global battery materials market and who are the key players?
- What is the degree of competition in the industry?