Battery Materials Market | Key players operating in the market include Umicore, Asahi Kasei Corporation, Mitsubishi Chemical Holdings, POSCO, and Johnson Matthey

According to recent market research the "Battery Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Cathode, Anode, Electrolyte), Application (Automotive, EV, Portable devices, industrial), and Region (Aisa Pacific, North America, Europe, RoW) - Global Forecast to 2027 ", The global battery materials market size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. Improving battery technology, coupled with supporting regulatory norms, are the driving the demand for battery materials. Moreover, the increasing demand for sustainable vehicles and energy storage system across the globe play a key role in the driving the growth of battery materials market. The battery materials market includes major Tier I and II suppliers like Umicore, Asahi Kasei, Posco, Johnson Matthey, and mitsubishi chemical holdings. These suppliers have their manufacturing facilities spread across the various countries across Asia Pacific, Europe, North America, South America and RoW.

Browse 309 market data Tables and 68 Figures spread through 287 Pages and in-depth TOC on "Battery Materials Market - Global Forecast to 2027"
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The lead-acid battery is estimated to have the second largest market share by value. Lead-acid battery is a sustainable energy storage system, and the growth of the lead-acid is mainly driven by automotive and industrial applications. Lead-acid battery is recyclable upto 99% and has good energy storage capacity. Lead-acid batteries are used in various applications such as automotive, industrial and stationary energy storage system.

Based on Applications, automotive is estimated to account for the largest share of the market during the forecast period. The growth of the automotive sector and public awareness in the Asia Pacific region are expected to boost the battery materials market in the region. China and India are likely to generate a positive impact on the market in the automotive application.

Asia Pacific is the fastest-growing market for battery materials mainly due to the high economic growth, and heavy investment in industries such as electric vehicle, electronics products, portable device and manufacturing. Asahi Kasei (Japan), Mitsubishi Chemical holdings (Japan), Posco (South Korea), and other leading global players are adopting various strategies to increase their market share in the region's battery materials market.

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The global battery material market size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. Asia Pacific accounts for a major share of the overall battery material market due to the increasing demand for EVs, smart devices, and other electronic products related to battery materials, and rising consumer awareness regarding the benefits of using batteries.

Players including Umicore, Asahi Kasei Corporation, Mitsubishi Chemical Holdings, POSCO, and Johnson Matthey have adopted several growth strategies between 2018 and 2022 (April) to expand their global presence and increase their market shares. New product launches/developments, mergers & acquisitions, investments & expansions, partnerships & agreements, and joint ventures & collaborations were the strategies adopted by these players to achieve growth in the battery material market.

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Umicore is a global material technology and recycling group. It focuses on application areas where its expertise in materials science, chemistry, and metallurgy makes a real difference. The company is active in the fields of catalysis, energy & surface technologies, and recycling. Cathode material is manufactured under the energy & surface technologies segment. The company generates most of its revenues and dedicates most of its R&D efforts to clean technologies such as emission control catalysts, materials for rechargeable batteries, and recycling. The company has a strong customer base and operates in many countries of Europe, North America, Asia Pacific, South America, and Africa. The company has 46 production sites and 15 R&D/technical centers.

Asahi Kasei Corporation is a global Japanese chemical company. It is one of the leading Lithium-ion batteries and lead-acid battery separator manufacturing companies, which delivers high-quality, innovative, and sustainable solutions in the battery market. The company has three business segments, namely, material, homes, and healthcare. Separators are produced under the material segment. The company focuses on the development of new possibilities through the combination of advanced chemical technology and bold creativity.

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