Battery Materials Market, Revenue Share, Key Growth Trends, Major Players, and Forecast, 2021–2027
The Battery
Materials Market is expected to reach USD 84.40 Billion by 2026,
according to a new report by Reports and Data. With growing sustainability
trends, electric vehicles have been endeavoring a positive growth trend due to
increasing demand for lithium-ion batteries. Lead-acid batteries were earlier
used as a backup in electric vehicles but now are substituted with the former
one associated with lower charging capabilities and legal controversies
regarding the lead-acid batteries. The self-sustainability of battery raw
materials is a crucial factor that is propelling the global market. The
supplies of raw materials needed for manufacturing batteries such as manganese,
natural graphite, and nickel are extremely concentrated in a few countries.
The most prevalent types of batteries available in the market
are Lead-Acid, Lithium-ion (Li-ion), Nickel-Metal Hydride (Ni-MH), Nickel
Cadmium (Ni-Cd), and others. Several battery materials present different
performance characteristics to the batteries, and they are chosen based on the
type and application of the battery.
The market in the APAC region is expected to witness the
highest CAGR of 8.5% during the forecast period. With the productive government
schemes for electric vehicles adoption, the region is expected to grow the
manufacturing of EV in the countries of Asia-Pacific, and thus, in turn, is
anticipated to fuel the market for battery materials in the automotive industry
in the region. For example, the Indian government has signed USD 1,445 million
for the phase two of FAME India (Faster Adoption and Manufacturing of Electric
Vehicles in India) policy on 1 March 2019, to encourage the use of electric
vehicles in the country. Moreover, accelerated industrialization in the region
is adding to the product’s market growth.
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The Key players in the Battery Materials Market include Toray Industries, Umicore, Asahi Kasei,
Mitsubishi Chemical, Henan Yuguang, Glencore, Nyrstar, Sumitomo Metal Mining,
Hitachi Chemical, POSCO, and Johnson Matthey.
Further key findings from the report suggest
- The
Battery Materials Market is estimated to reach USD 84.40 Billion by 2026,
at a CAGR of 8.3% during the forecast period.
- The
Lead-acid product accounts for a larger share of 59.7% of the market in
2018.
- The
metal material is anticipated to grow at the highest rate of 8.4% during
the forecast period.
- The
automotive application segment is anticipated to grow at the highest rate
of 8.5% during the forecast period.
- The
secondary battery type is anticipated to grow at a higher rate of 8.6%
during the forecast period.
- North
America region accounts for a share of 21.3% of the market in 2018.
- Various
players are developing strategies to mark their presence in the industry.
- For
example, GEM, a Chinese battery materials producer, has acknowledged an
MOU with ECOPRO (South Korea) on 4 January 2019, to supply 170tk of
nickel-cobalt-aluminium oxide (NCA) over the next five years. The deal
involves the supply of 16kt in 2019, expanding to 24kt in 2020 and 40kt in
2021.
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For the purpose of this study, Reports and Data have
segmented the market on the basis of Product, Material, Application, Battery
Type, and region:
Product Outlook (Volume, Kilo Tons; and Revenue, USD Million;
2016-2026)
- Lead-acid
- Lithium-ion
Material Outlook (Volume, Kilo Tons; and Revenue, USD
Million; 2016-2026)
- Metals
- Chemical
- Others
Application Outlook (Volume, Kilo Tons; and Revenue, USD
Million; 2016-2026)
- EVs
- Automotive
Batteries
- Portable
Devices
- Industrial
- Other
Battery Type Outlook (Volume, Kilo Tons; and Revenue, USD
Million; 2016-2026)
- Primary
Battery
- Secondary
Battery
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France,
Rest of EU)
Asia Pacific (India, Japan, China,
South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil,
Argentina, Rest of Latin America)
Middle East & Africa (Saudi
Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Battery Materials
Market Report:
·
Comprehensive
analysis of the changing market dynamics
·
A futuristic
outlook on different factors influencing the market
·
An 8-year
forecast of the market growth and expected revenue growth
·
Ease of
understanding of the market, key segments, and their future growth
·
In-depth analysis
of the competitive landscape to give an advantageous edge for the companies
·
Extensive insight
into the market with in-depth analysis of the segmentation
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