Battery Materials Market Size to Reach USD 83.43 Billion by 2026; Growing Demand for Lithium-ion Batteries to Propel Market, States Fortune Business Insights™
- Key companies covered are NICHIA CORPORATION, NEI Corporation, TCI Chemicals (India) Pvt. Ltd., Targray Technology International, Mitsubishi Chemical Holdings, Hitachi Chemical Co., Ltd., TORAY INDUSTRIES, INC., Shanghai Shanshan Tech Co., Ltd., Kureha Corporation, among others
PUNE, India, April 29, 2020 /PRNewswire/ -- The global battery materials market size is predicted to reach USD 83.43 billion by 2026, exhibiting a CAGR of 8.3% during the forecast period. The growing demand for lithium-ion and lead-acid batteries will accelerate this market revenue during the forecast period. Lithium-ion batteries are extensively used for high energy density in automotive, industrial, and consumer electronics applications. In addition, the enhanced compatibility and reliability of Li-ion batteries have led to the demand for cathode battery materials, which, in turn, will boost the battery materials market trends in the forthcoming years.
According to report, published by Fortune Business Insights in a report, titled "Battery Materials Market Size, Share & Industry Analysis, By Battery Type (Lithium-Ion, Lead Acid), By Material (Lithium-Ion {Cathode [LCO, NMC, NCA, LMO, LFP]), Anode [Artificial Graphite, Natural Graphite], Electrolyte, Separator), (Lead Acid {Cathode, Anode, Electrolyte, Separator}), By Application, and Regional Forecast, 2019-2026" the market size stood at USD 44.25 billion in 2018. The market report focuses and elaborates on the definition, types, applications, and major players in detail. Deep analysis of battery materials market status, competition pattern, enterprise, advantages and disadvantages of enterprise Products, industry development trends, regional industrial layout characteristics, and macroeconomic policies, industrial policy has also been studied and provided within the synopsis.
Worldwide COVID-19 Impact Analysis:
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From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors, and potential shareholders along with venture capitalists establish a bird's eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivaled data in a well-organized manner.
List of Key Companies Operating in the Battery Materials Market are
- NICHIA CORPORATION
- NEI Corporation
- TCI Chemicals (India) Pvt. Ltd.
- Targray Technology International
- Mitsubishi Chemical Holdings
- Hitachi Chemical Co., Ltd.
- TORAY INDUSTRIES, INC.
- Shanghai Shanshan Tech Co., Ltd.
- Kureha Corporation
- BASF SE
- Asahi Kasei
- Umicore Cobalt & Specialty Materials (CSM)
- Other Key Players
Market Driver:
Stellar Demand for Consumer Electronics to Aid Market Expansion
The growing demand for computers, TVs, mobile phones, and other electronic devices has led to the high production of electronics, which in turn, will spur opportunities for the battery materials market during the forecast period. The increasing technological advancements and surge in the gaming industry will contribute positively to the market share for battery materials in the forthcoming years.
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Moreover, the growing demand for smartphones, laptops, smart electronic wearables, digital cameras, and tablets will enable fuel demand for battery materials. In addition, the rising investments by major companies for the development of efficient and batteries will provide impetus to the market. Nonetheless, people's reliance on smartphones and portable power banks will spur lucrative opportunities for the market in the forthcoming years.
Regional Analysis:
High Adoption of Electric Vehicle to Bolster Growth in North America
The market in North America stood at USD 8.4 billion in 2018 and is predicted to grow significantly during the forecast period owing to the high adoption of electric vehicles in the region.
Furthermore, the growing demand for consumer electronics will boost the market in the region. Moreover, the growing investments in renewable and electric vehicle industries will spur sales opportunities for the market in North America. Asia Pacific is predicted to witness high growth during the forecast period owing to the rapid urbanization and industrialization. The increasing consumer spending on electronic goods will aid the market in the Asia Pacific.
Key Development:
February 2020: BASF announced opening a new battery material manufacturing facility plant in Schwarzheide, Germany to enlarge the European electric vehicle value chain. The production hub will produce CAM (cathode active materials) with capacity allowing approximately 400,000 fully electric vehicles supply per year with BASF's battery materials.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Battery Materials Market Analysis, Insights and Forecast – By Battery Type, 2015-2026
- Key Findings / Summary
- Global Battery Materials Market Analysis, Insights and Forecast – By Battery Type
- Lithium-Ion
- Lead Acid
- Others
TOC Continued…!
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