Dublin, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The "Battery Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Cathode, Anode, Electrolyte), Application (Automotive, EV, Portable devices, industrial), and Region (Asia Pacific, North America, Europe, RoW) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global battery material market size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. The market has a promising growth potential due to several factors such as increasing demand for sustainable vehicles and energy storage system, portable devices, and electronics product.
The lithium ion type battery is expected to register the highest CAGR of the overall battery materials market during the forecast period, in terms of value.
Lithium ion batteries are used in the Evs, portable device, and electronics product. For many years China has been the top EVs manufacturers and consumer. The country's top position in the Evs and portable devices has helped Asia Pacific gain a significant share in the global battery materials market. Growing economy, such as India, China, and Indonesia are also actively engaged in EVs and electronics product production that have boost the demand for battery materials. This scenario is expected to continue during the forecast period.
The electric vehicle application is projected to register the highest CAGR during the forecast period.
Electric vehicle is the market driver in this segment globally. Growth in applications, including electric vehicles, portable device, and electronics product. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, South Korea, Japan, and Indonesia. Global battery material manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.
Market Dynamics
Drivers
- Growth of HEVs, PHEVs, and EVs to Accelerate Demand for Lithium-Ion Batteries
- High Demand for Lithium-Ion Technology in Renewable Energy Industry
- Growth in Consumer Electronic Devices
Restraints
- Stringent Safety Requirements for Batteries During Operation
- Inadequate Charging Infrastructure
Opportunities
- Use of Batteries in Energy Storage Devices
- Innovation and Advances in Lithium-Ion Battery Technology
Challenges
- Regulations and Safety Issues Related to Lead-Acid Battery Materials
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Battery Materials Market, by Battery Type
7 Battery Materials Market, by Material
8 Battery Materials Market, by Application
9 Battery Materials Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent/Related Markets
13 Appendix
Companies Mentioned
- Asahi Kasei Corporation
- Basf
- Entek
- Gravita India
- Johnson Matthey
- Kureha Corporation
- L&F
- Mitsubishi Chemical Holdings
- Mitsui Mining & Smelting Company
- Nei Corporation
- Nexeon Limited
- Nichia Corporation
- Posco
- Pulead Technology Industry
- Shanshan Technology
- Showa Denko
- Sumitomo Corporation
- Tanaka Chemicals
- Toda Kogyo Corp.
- Toray Industries
- Ube Corporation
- Umicore
- Zhangjiagang Guotai Huarong Chemical New Material
For more information about this report visit https://www.researchandmarkets.com/r/qvho4t
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