Battery Materials Market Huge Growth, Key Players, Revenue Analysis, Industry Demand, Global Size And Strategies - Asahi Kasei Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sumitomo Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Battery Materials Global Market Report 2023 identifies the increase in adoption of electric vehicles as the major driver for the battery materials market's growth in the forecast period. Electric vehicles can be referred to as cars that run on an electric motor rather than an internal combustion engine. A substantial traction battery pack powers the electric motor materials that are used in electric vehicles to provide high energy density, a low self-discharge rate, low maintenance, and more charge cycles. For instance, in April 2021, an International Energy Agency report, a France-based global energy system intergovernmental agency, 10 million electric vehicles had been sold globally in 2020, up 43% from the prior year and there are about 3 million new electric vehicle registrations.

The global battery materials market size is expected to grow from $51.46 billion in 2022 to $57.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The battery materials market size is expected to grow to $88.68 billion in 2027 at a CAGR of 11.4%.

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Major competitors in the battery materials market are Asahi Kasei Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sumitomo Corporation, Umicore NV, Albemarle Corporation, Livent Corporation, Nichia Corporation, Toray Industries Inc., Posco Holdings Inc., Showa Denko KK, Hitachi Chemical Company Limited.

A key trend in the battery materials market includes technological advancements. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in September 2021, Sila Nanotechnologies Inc., a German-based battery materials company that develops lithium-ion batteries, launched Whoop 4.0, a small fitness tracker that works on unique silicon anode battery technology that enables higher energy density without adversely affecting other performance metrics.

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The Battery Materials market is segmented -

• By Type: Cathode, Anode, Electrolyte, Separator, Other Types

• By Battery Type: Lithium Ion, Lead Acid, Other Battery Type

• By Application: Automobile Industry, Household Appliances, Electronics Industry, Other Application

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the battery materials market.

The Business Research Company's "Global Battery Materials Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Battery Materials Market Include:
1. Executive Summary
2. Battery Materials Market Characteristics
3. Battery Materials Market Trends And Strategies
4. Battery Materials Market - Macro Economic Scenario
5. Battery Materials Market Size And Growth
……………
27. Battery Materials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Battery Materials Market
29. Battery Materials Market Future Outlook And Potential Analysis
30. Appendix

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