2025 Battery Materials Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Battery Materials Market Size By 2025?
In recent times, a noteworthy expansion has been seen in the size of the battery materials market. It is anticipated to escalate from a value of $63.54 billion in 2024 to $70.68 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.2%. This surge during the historical period can be traced back to factors such as enhanced use of portable electronics, breakthroughs in energy storage technology, consumers' preference for extended battery life, incorporation of renewable energy, government strategies and subsidies, need for weight-efficient materials, along with funding for research and development.

How Big Is the Battery Materials Market Size Expected to Grow by 2029?
In the forthcoming years, a swift expansion is anticipated in the battery materials market size, with it reaching $107.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.0%. This anticipated growth during the forecast period can be credited to a transition to solid-state batteries, progress in lithium-sulfur batteries, a demand for cheaper materials, the extension of energy storage systems, innovative materials capable of high temperatures and worldwide endeavors for carbon neutrality. Primary trends during the forecast period will consist of reducing cobalt and introducing alternative chemistries, enhancements in anode materials, recycling of battery materials, the emergence of new markets for energy storage, and investment in the exploration and mining of raw materials.

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Which Key Market Drivers Powering Battery Materials Market Expansion and Growth?
The advancement of the battery materials market is predicted to be spurred by the rising acceptance of electric vehicles. Electric vehicles, defined as cars powered by an electric motor instead of an internal combustion engine, utilize a significant traction battery pack to fuel the electric motor materials. These materials deliver high energy density, minimal self-discharge rate, low upkeep, and additional charge cycles. For example, in March 2024, as per the International Energy Agency, a US-based organization, new electric vehicle registrations in the United States summed up to 1.4 million in 2023, marking a growth of over 40% from the previous year. Consequently, the escalating usage of electric vehicles is positively impacting the expansion of the battery materials market.

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Which Fast-Growing Trends Are Poised to Disrupt the Battery Materials Market?
Innovations in technology have proven to be a critical trend that's gaining traction in the battery materials industry. Key players in the sector are leveraging new technologies to maintain their market positions. For instance, in May 2023, Cabot Corporation, a company based in the USA renowned for manufacturing materials, debuted ENTERA Aerogel Particles for Use in Thermal Barriers for Lithium-ion Batteries. The purpose of this progressive material is to elevate the thermal barriers in lithium-ion batteries, thereby revitalizing their performance by addressing key concerns like thermal management and safety. The incorporation of advanced materials like ENTERA falls in line with the industry's shift towards superior performance and sustainability in battery technologies. Cabot's emphasis on cultivating materials that bolster safety and efficiency echo wider industry trends directed at refining lithium-ion battery technology in line with the surge in global electric mobility.

What Are the Emerging Segments in the Battery Materials Market?
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

Subsegments:
1) By Cathode: Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Nickel Manganese Cobalt (NMC), Nickel Cobalt Aluminum Oxide (NCA), Other Cathode Materials
2) By Anode: Graphite, Silicon-Based Anodes, Lithium Titanate, Other Anode Materials
3) By Electrolyte: Liquid Electrolytes, Solid Electrolytes, Gel Electrolytes, Polymer Electrolytes
4) By Separator: Polyethylene (PE), Polypropylene (PP), Ceramic-Coated Separators, Other Separator Materials
5) By Other Types: Conductive Additives, Binders, Current Collector

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Who Are the Global Leaders in the Battery Materials Market?
Major companies operating 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, 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, Amp Technology Limited, BAK Group

Which are the Top Profitable Regional Markets for the Battery Materials Industry?
Asia-Pacific was the largest region in the battery materials market in 2024. The regions covered in the battery materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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