North America Battery Metals Market Will Likely See Expanding of Marketable Business Segments

North America battery metals market in North America is expected to grow from US$ 1526.0 million in 2021 to US$ 3388.4 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028.

The electric vehicle has proven to be an essential technology in terms of reducing air pollution in densely populated areas and a promising option for contribution in energy diversification and the reduction in greenhouse gas emission objectives.

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Various benefits of electric vehicles include zero tailpipe emissions, the potential for greenhouse gas emissions reductions, better efficiency than internal combustion engine vehicles, etc. Electric vehicles are expanding significantly as technological progress in the electrification of two/three-wheelers, buses, and trucks advances and their market grows.

MARKET INTRODUCTION

The continued electrification of transport requires vast volumes of lithium-ion batteries. This in turn is creating demand for battery metals. Growing adoption of electric vehicles in various countries across the region has increased the demand for rechargeable batteries and their input commodities, including lithium, cobalt, nickel, manganese, and copper. Thus, due to all these factors, demand for electric vehicles/hybrid electric vehicles/plug-in hybrid vehicles is increasing. This, in turn, is driving the battery metals market substantially.

North America is one of the worst affected economies due to the COVID-19 pandemic. The unprecedented rise in the number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of the various markets. The market for battery metals has been impacted in the region due to distortion in the supply chain with limited operational efficiencies. The pandemic has also impacted the automotive and consumer electronics industry in the region. However, the market is reviving on account of significant measures taken by the government such as vaccination drives. In the US, according to the car registration data from Experian, about 378,466 electric vehicles were registered from January to October 2021, which was 94% more than in 2020. In 2021, sales of electric vehicles in the US were record-breaking despite supply chain issues. This is expected to provide the impetus for market growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America battery metals market. The North America battery metals market is expected to grow at a good CAGR during the forecast period.
List of Companies Profiled in the North America Battery Metals Market Report are:
• Albemarle Corporation
• Bolt Metals Corp.
• Ganfeng Lithium Co.,Ltd.
• Umicore
• LG Chem
• Vale
• BASF SE
• Metso Outotec

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Key Segmentation:

By Type
• North America Battery Metals Market, by Type
• Lithium
• Nickel
• Cobalt
By End User
• Electric Vehicles
• Consumer Electronics
• Energy Storage System
• Others
By Country
• North America
o US
o Mexico
o Canada

Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

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