Lithium-ion Battery Materials Market Forecast and Trends Analysis Research Report 2027

Lithium-ion Battery Materials Market: Introduction

A lithium-ion battery is a type of rechargeable battery wherein lithium-ions move from the negative electrode to the positive electrode. It uses an intercalated lithium compound as an electrode material. Lithium-ion batteries are commonly used as rechargeable batteries in portable electronics, due to their high energy density, insignificant memory effect, and low self-discharge. The key component used in these batteries is lithium cobalt oxide, which offers high energy density, but entails safety risks. Lithium iron phosphate, lithium-ion manganese oxide, and lithium nickel manganese cobalt oxide batteries offer lower energy density but longer lifespan. They involve less possibility of fire or explosion.

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Key Drivers of Global Lithium-ion Battery Materials Market

Demand for lithium-ion batteries is increasing, owing to their extensive use in consumer electronics products, as these devices are highly dependent on a portable power source for better performance and high reliability. This factor is driving the global lithium-ion battery materials market. Application of lithium-ion batteries in the automotive sector in plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) improves the efficiency and reduces the maintenance cost of these vehicles. This is also expected to fuel the demand for lithium-ion battery materials during the forecast period. Increasing awareness regarding use of lithium-ion batteries is also one of the driving factors for the global lithium-ion battery materials market. For instance, various organizations such as China Association of Automobile Manufacturers and Advanced Automotive Battery Conference have taken initiatives to raise awareness regarding use and benefits of electric vehicles (EVs). This, in turn, is propelling the global lithium-ion battery materials market.

Lithium-ion batteries are applied in material handling equipment, cutting machines, drillers, and crane pulley systems, due to their higher energy density and longer battery backup compared to the conventional batteries. This, in turn, is anticipated to drive the global lithium-ion battery materials market during the forecast period. Decreasing prices of lithium-ion batteries lead to use of these batteries in other sectors. This can create immense opportunities for the global lithium-ion batteries market between 2019 and 2027.

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Overheating of Lithium-ion Batteries to Hamper Market

Safety concerns caused due to overheating of lithium-ion batteries and insufficient charging infrastructure in the automotive industry are likely to hamper the global lithium-ion battery materials market from 2019 to 2027

Key Segments

Cathode material in lithium-ion batteries is a major component, which determines energy density of the cell. The working mechanism of lithium-ion batteries is based on intercalation and deintercalation compounds, where lithium-ions from the cathode are transmitted to the anode during charging of the battery and they are extracted during discharge of the battery. Anode materials account for 10% - 18% of costs of materials of lithium-ion batteries.

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