Battery Materials Market – Global Growth, Trends, COVID-19 Impact and Forecast (2022 to 2029)

Battery Materials Market was valued at US$ 49.2 Bn. in 2021. The Global Market size is estimated to grow at a CAGR of 6.2% over the forecast period.

Battery Materials Market Overview:

Battery materials are the basic raw materials and compounds in the battery supply chain. They are extracted from upstream mining operations and mainly consist of metals such as lithium, cobalt, and nickel. The major drivers of global battery material are an increase in the use of consumer electronics such as smartphones and laptops. The sales of new smartphones are expected to touch 410 million units in 2025. The battery material market is segmented into battery type and application. Harmful effects of petrol and diesel on the environment with their fluctuating prices aids is the major factor for the increase in demand for electric and hybrid vehicles, which will boost the battery materials market during the forecast period. Battery Materials MarketTo know about the Research Methodology:- Request Free Sample Report

Battery Materials Market Dynamics:

The growing need for higher battery capacity and lower costs for automotive applications is driving the growth of the battery materials market. The growing disposable income of consumers across the globe has led to a surge in sales of portable battery-operated devices. The demand for EVs is increasing across the globe due to a surge in demand for fuel-efficient, high-performance, and low-emission vehicles. Government manufacturing businesses and battery manufacturers are substantially investing in battery technology improvements. To increase EV sales through tax benefits, the government has provided incentives. Batteries are made from nickel, lithium, cadmium, lead, nickel-metal hydride, and mercury are the toxic chemicals and metals, which are required to be disposed of and recycled appropriately. During the pandemic, large battery manufacturers suffered a drop in revenue and faced additional logistical challenges. Strict Rules and regulations have been imposed in countries, which are crucial for the processing of lithium and other metals used in battery manufacturing. Improper disposal of heavy toxic metals can pollute soil and water, negatively impacting the environment and thus expected to hamper the market growth. During the forecast period, the necessity for electricity is projected to increase and is attributed to the rise in industrialization & urbanization. The demand for battery materials is rising as the application of batteries is increasing.

Battery Materials Market Trends:

Increasing demand for electric vehicles drives the battery materials market to be fueled by the rising need to reduce carbon emissions and the introduction of fast and advanced charging stations. The increase in the production of electronics products is attributed to the increasing demand for computers, televisions, mobile phones, and other devices. Governments of countries across the globe are offering subsidies and incentives like grants to encourage the adoption of EVs and reduce carbon emissions. There is a rise in the use of the lithium-ion segment, which is expected to be the fastest-growing battery type segment of the materials market during the forecast period. Manufacturers have adopted one of the key strategies called battery recycling to reduce the production cost of new batteries and comply with environmental regulations in this manufacturer expected to gain cost benefits by extracting the valuable metals from a scrapped battery cell and battery pack. To prevent groundwater and environmental contamination, various governments have formulated strict regulations for battery recycling. The recycling and storage of mercury in batteries encourage battery recycling. The shift toward clean energy and the rise in crude oil prices have boosted global EV sales. COVID-19 Impact: The covid-19 pandemic led to the global economy declining, thus hampering the battery materials market. There was a shortage of battery materials supply due to the lockdown imposed in different regions, which resulted in the reduced production in the mining sector. The major lithium-ion battery manufacturers CATL & BYD have announced production delays, and OEMs that supply batteries and raw materials from China have been hit badly due to disruption. Logistics was another challenging factor during the pandemic; big battery producers faced the risk of a decrease in sales.

Battery Materials Market Segment Analysis:

Based on Type, The Battery Materials Market is segmented into lithium-ion, lead-acid, and others. The Lithium-ion segment held the largest market share accounting for 45% in 2021. The use of portable electronic devices and the growing use of EVs are expected to drive the lithium-ion battery materials market through the forecast period. The demand for lead-acid batteries is increasing because of their qualities, such as ease of purchase, abuse tolerance, and reliability, and it is predicted to develop at the quickest rate in the future years. Battery Materials MarketBased on Application, The Battery Materials Market is segmented into portable devices, power storage, electronic items, automotive, and others. The automobile segment will grow at the fastest CAGR of 7.5% during the forecast period. The Li-ion battery material is prominently used in electric vehicles, portable devices, and power storage. The portable device segment accounts for the largest market share because of the growing smartphone penetration in the market. The sustainable market is being driven by a boom in global automotive sales and production, which has resulted in a rise in vehicle electrification.

Battery Materials Market Regional Insights:

The Asia Pacific region held the largest market share accounting for 35% in 2021, due to rapid urbanization and growing consumer spending on electric vehicles. The growing population and a shift in the focus of manufacturers to manufacture in this region due to the availability of cheap labor and low-cost manufacturing has led to a significant presence of leading automobile manufacturers. North America is expected to develop at the fastest rate during the forecast period due to the fast adoption of electric vehicles as well as increased consumer electronic purchase. The major driving factor of this region is the government is supporting investors in the renewable and electric vehicle industries for battery-based energy storage systems, particularly lithium-ion, which will help the region to flourish. The objective of the report is to present a comprehensive analysis of the global Global Battery Materials Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Battery Materials Market dynamic and structure by analyzing the market segments and projecting the Barium Fluoride Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Global Battery Materials Market make the report investor’s guide.

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Global Battery Materials Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 49.2 Bn.
Forecast Period 2022 to 2029 CAGR: 6.2% Market Size in 2029: US $ 79.60 Bn.
Segments Covered: by Type • lithium-ion • Lead acid • Others
by Application • Portable device • Power storages • Electronic items • Automotive • Others

Battery Materials Market, by Region

• North America • Europe • The Asia Pacific • The Middle East and Africa • South America

Battery Materials Market, Key Players:

• Umicore N.V. • Nichia Corporation • Ecopro • Posco chemical • Asahi Kasei • BASF SE • Targray • BYD • GS Yuasa • CBAK power battery • Kureha Corporation • Sumitomo Corporation • Toray Industries • Mitsui Mining & Smelting • Arkema SA • FMC Corporation • Cabot Corporation • Ube Industries Limited • Albemarle Corporation • American Elements

Frequently Asked Questions

1) Which region holds back the growth rate of the battery materials market? Ans- Lack of infrastructure and stringent safety measures hold back the battery materials market growth 2) Which region records the maximum growth for the battery materials market? Ans - Asia Pacific region has the maximum market growth. 3) Which end-user industries are slated to trigger growth for the battery materials market? Ans- End-user industries like automobiles, portable devices, and electronic items are expected to trigger maximum growth. 4) What is the battery materials market growth? Ans- The global battery market is expected to grow at a CAGR of 6.2% 5) What is the size of the global materials market? Ans- By 2029, the global battery materials market will reach 79.60 billion.
1. Global Battery Materials Market Size: Research Methodology 2. Global Battery Materials Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Battery Materials Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Battery Materials Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • The Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Battery Materials Market Size Segmentation 4.1. Global Battery Materials Market Size, by type (2021-2029) • lithium-ion • lead acid • others 4.2. Global Battery Materials Market Size, by Segment application (2021-2029) • Electronics items • Portable device • Power storage • Automotive • Others 5. North America Battery Materials Market (2021-2029) 5.1. North America Battery Materials Market Size, by type (2021-2029) • lithium-ion • lead acid • others 5.2. North America Battery Materials Market Size by application (2021-2029) • Electronics items • Portable device • Power storage • Automotive • Others 5.3. North America Battery Materials Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Battery Materials Market (2021-2029) 6.1. European Battery Materials Market, by type (2021-2029) 6.2. European Battery Materials Market, by application (2021-2029) 6.3. European Battery Materials Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Battery Materials Market (2021-2029) 7.1. Asia Pacific Battery Materials Market, by type (2021-2029) 7.2. Asia Pacific Battery Materials Market, by application (2021-2029) 7.3. Asia Pacific Battery Materials Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Battery Materials Market (2021-2029) 8.1. The Middle East and Africa Battery Materials Market, by type (2021-2029) 8.2. The Middle East and Africa Battery Materials Market, by application (2021-2029) 8.3. The Middle East and Africa Battery Materials Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Battery Materials Market (2021-2029) 9.1. South America Battery Materials Market by Type (2021-2029) 9.2. South America Battery Materials Market, by application (2021-2029) 9.3. South America Battery Materials Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Umicore N.V. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Nichia Corporation 10.3. Ecopro 10.4. Posco chemical 10.5. Asahi Kasei 10.6. BASF SE 10.7. Targray 10.8. BYD 10.9. GS Yuasa 10.10. CBAK power battery 10.11. Kureha Corporation 10.12. Sumitomo Corporation 10.13. Toray Industries 10.14. Mitsui Mining & Smelting 10.15. Arkema SA 10.16. FMC Corporation 10.17. Cabot Corporation 10.18. Ube Industries Limited 10.19. Albemarle Corporation 10.20. American Elements

About This Report

Report ID 31309
Category Energy & Power
Published Date Sep 2022
Updated Date
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