PUBLISHER: The Business Research Company | PRODUCT CODE: 1262894
PUBLISHER: The Business Research Company | PRODUCT CODE: 1262894
“Battery Materials Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on battery materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for battery materials? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The battery materials market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the battery materials market are: Asahi Kasei Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sumitomo Corporation, Umicore NV, Albemarle Corporation, Livent Corporation, Nichia Corporation, Toray Industries Inc., Posco Holdings Inc., Showa Denko KK, Hitachi Chemical Company Limited, China Molybdenum Company Limited, Gan feng Lithium Company Limited, and MMC Norilsk Nickel PJSC.
The global battery materials market is expected to grow from $51.46 billion in 2022 to $57.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The battery materials market is expected to grow to $88.68 billion in 2027 at a CAGR of 11.4%.
The battery materials market consists of sales of materials for primary batteries, and secondary batteries. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Battery materials refer to the raw materials found in cell electrodes, electrolytes, and separators that are made up of various metals and chemical components.
Asia-Pacific was the largest region in the battery materials market in 2022. The regions covered in the battery materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of battery materials are cathode, anode, electrolyte, separator, and other types. A cathode refers to a metallic electrode through which current flows in a polarized electrical device. The battery types include lithium ion, lead acid, and other battery types and are used in the automobile industry, household appliances, the electronics industry, and other applications.
Increasing adoption of electric vehicles is expected to propel the growth of the battery materials market going forward. Electric vehicles can be referred to as cars that run on an electric motor rather than an internal combustion engine. A substantial traction battery pack powers the electric motor materials that are used in electric vehicles to provide high energy density, a low self-discharge rate, low maintenance, and more charge cycles. For instance, in April 2021, an International Energy Agency report, a France-based global energy system intergovernmental agency, 10 million electric vehicles had been sold globally in 2020, up 43% from the prior year and there are about 3 million new electric vehicle registrations. Therefore, the increasing adoption of electric vehicles is driving the growth of the battery materials market.
Technological advancements have emerged as a key trend gaining popularity in the battery materials market. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in September 2021, Sila Nanotechnologies Inc., a German-based battery materials company that develops lithium-ion batteries, launched Whoop 4.0, a small fitness tracker that works on unique silicon anode battery technology that enables higher energy density without adversely affecting other performance metrics. The battery technology used in the product replaces the graphite anodes that will usher in a new era of energy storage.
In May 2022, EV Metals, an Australia-based manufacturer of battery materials and technology company, acquired Johnson Matthey's Battery Materials business for an amount of $56.7 million. This acquisition is expected to complement EV Metals' product portfolio and enable the company to supply high-purity chemicals and cathode active materials (CAM) in the market. Johnson Matthey is a UK-based developer of rechargeable lithium-ion batteries and battery materials.
The countries covered in the battery materials market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The battery materials market research report is one of a series of new reports from The Business Research Company that provides battery materials market statistics, including the battery materials industry global market size, regional shares, competitors with a battery materials market share, detailed battery materials market segments, market trends and opportunities, and any further data you may need to thrive in the battery materials industry. This battery materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.