Press release
Battery Materials Market to Reach USD 83.4 Billion by 2026 | Industry Size, Share, Demand, Huge Business Opportunities, and Latest Technology Advancements 2019 to 2026
Battery Materials Market
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Market Overview:
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 44.2 billion in 2018. The battery materials market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about 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.
The Report Lists the Main Companies in the Battery Materials Market
• 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
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 unrivalled data in well-organized manner.
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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 a 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 battery materials market share in the forthcoming years. Moreover, 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, the people’s reliance on smart phones 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 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 Asia Pacific.
Key Development:
February 2020: BASF announced to open 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 full electric vehicles supply per year with BASF’s battery materials.
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