Battery Materials Market Will Reach Nearly USD 84.40 Billion by 2026: Reports and Data

Market Summary

The battery materials market is expected to reach USD 84.40 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising demand from renewable industries for Li-ion technology in emerging economies and growing technological advancements, which are expected to accelerate the market growth globally.

Battery technologies are an indispensable catalyst for the growth and increased improvements in areas such as electronic devices and battery energy storage (BES) for renewable energy and electric vehicles (EVs). Battery materials are the elements or materials used to produce primary and secondary batteries. It mainly includes an anode, cathode, electrolyte, and battery separators.

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The increasing adoption of electric vehicles (EV) is a fundamental trend that will influence the growth of the global market. Developing environmental concerns and change towards a sustainable ecosystem in the automotive industry are promoting the sale of EVs. Since EVs mostly use lithium-ion batteries due to their excellent performance, their sharp uptake creates an essential requirement for recycling of the batteries. The need for self-sustainability concerning the sourcing of battery raw materials coupled with the increasing adoption of electric vehicles will stimulate the market.

The Asia Pacific region accounts for the largest share of 28.3% of the market in 2018. The increased production capacities of dominant companies in the region drives the growth. Some of the factors propelling the growth in the region are developed economic conditions, high disposable incomes, and decreasing consumer electronics cost. Moreover, the consumer electronics sector in Asia-Pacific is provided with various product spectrum and the range of which seems to be growing with the accelerated increase of smart technology is contributing to the product market growth.

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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-aluminum 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.
• 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.

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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 Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)

• North America
o U.S.
• Europe
o France
o UK
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
• Middle East & Africa

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