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Battery Materials Market Size, Share, Industry Analysis, Segments And Forecast To 2033

Battery Materials Market

Battery Materials Market

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Battery Materials Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $83.37 billion In 2028 At A CAGR Of 29.0% :

The battery materials market size has grown rapidly in recent years. It will grow from $57.63 billion in 2023 to $64.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to growth in portable electronics, advancements in energy storage, consumer demand for longer battery life, renewable energy integration, government initiatives and subsidies, demand for lightweight materials, research and development funding.

The battery materials market size is expected to see rapid growth in the next few years. It will grow to $99.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to transition to solid-state batteries, advancements in lithium-sulfur batteries, demand for low-cost materials, expansion of energy storage systems, material innovations for high temperatures, global efforts for carbon neutrality. Major trends in the forecast period include cobalt reduction and alternative chemistries, advancements in anode materials, recycling of battery materials, emerging markets for energy storage, investments in raw material exploration and mining.

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Battery Materials Market Major Segments
The battery materials market covered in this report is segmented -

1) By Type: Cathode, Anode, Electrolyte, Separator, Other Types
2) By Battery Type: Lithium Ion, Lead Acid, Other Battery Type
3) By Application: Automobile Industry, Household Appliances, Electronics Industry, Other Application

Key Driver - Electric Vehicle Adoption Fueling Growth In The Battery Materials Market

The increase in adoption of electric vehicles is expected to propel the growth of the battery materials market going forward. 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. Therefore, the increasing adoption of electric vehicles is driving the growth of the battery materials market.

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Prominent Trend - Technological Advancements Driving Innovation In The Battery Materials Market

Technological advancements have emerged as a key trend gaining popularity in the battery materials market. 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. The battery technology used in the product replaces the graphite anodes that will usher in a new era of energy storage.

Battery Materials Market Players
Major companies operating in the battery materials market report 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, China Molybdenum Company Limited, Ganfeng Lithium Co. Ltd., MMC Norilsk Nickel PJSC, Ningbo Shanshan Company Limited, Saudi Basic Industries Corporation (SABIC), Ensinger Group, DIC Corporation, Celanese Corporation, Johnson Matthey plc, Lanxess AG, Glencore PLC, Norilsk Nickel, Panasonic Holdings Corporation, NEC Corporation, LG Chem, Toshiba Corporation, BAK Group

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/battery-materials-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the battery materials market in 2023. The regions covered in the battery materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Battery Materials Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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