Battery Metals Market: Industry Outlook, Growth Prospects and Key Opportunities 2027

Allied Market Research recently released a report titled "Battery Metals Market," forecasting significant growth in the industry. In 2019, the market was valued at $11.3 billion and is expected to reach $20.5 billion by 2027, growing at a CAGR of 8.2% from 2020 to 2027.

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Drivers, Restraints, and Opportunities:

- Drivers: Increased demand for electronic devices, electric vehicles (EVs), and renewable energy.
- Restraints: Supply security risks.
- Opportunities: Electrification investments in remote areas and energy-efficient consumer gadgets.

Segment Insights:

- Lithium: Dominated the market in 2019 and is projected to maintain its lead, driven by demand from EV and consumer electronics sectors.
- Nickel: Expected to grow fastest (CAGR 8.7%) due to its use in EV batteries.

Applications:

- Consumer Electronics: Largest segment in 2019, driven by smartphones and laptops.
- Energy Storage Systems: Expected to grow fastest (CAGR 8.5%) due to demand for backup power solutions.

Regional Insights:

- Asia-Pacific: Largest market share in 2019, followed by North America.
- Europe: Expected to grow fastest (CAGR 8.7%) due to increasing battery demand across various sectors.

Key Players:

Norlisk Nickel, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., among others.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/battery-metals-market-A07179

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