Global Battery Materials Market Size, Share, Opportunities And Trends By Type (Primary, Alkaline, Other, Secondary, Lithium-Ion, Lead-acid, Others), By Material (Cathode, Anode, Electrolyte), By Application (Electric Vehicle, Consumer Electronics, Industrial, Automotive, Medical Devices, Others) And Geography - Forecasts From 2019 To 2024

The global battery materials market was valued at US$37.248 billion in 2018 and is projected to grow at a CAGR of 5.17% during the forecast period. The demand for battery materials is majorly driven by the increasing usage of secondary batteries in a number of applications that includes electric vehicle, consumer electronics, medical devices and submarine among other applications. Rising disposable income is one of the key factors that are leading to an increased demand for portable electronics and vehicle among the growing population. Moreover, the increasing number of investments in the renewable energy sector is driving the demand for battery materials. By Material, Li-ion batteries are expected to grow at the fastest rate over the forecast period owing to its widespread adoption in electric vehicle and consumer electronics segment. Good growth of automotive sector is further going to accelerate the battery materials market growth.  

 

DRIVERS

Growing demand for secondary batteries across various industries

Burgeoning adoption of electric vehicles around the globe

 

RESTRAINTS

Year over year decline in the demand of primary batteries

 

INDUSTRY UPDATE

In April 2019, Daimler invested $170 million in Sila Nano’s Next-Generation battery tech so as to develop advanced battery materials that improve power performance of electric vehicles and consumer electronics

 

The major players profiled in the global battery materials market Umicore, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Hitachi Chemical Co., Ltd., Toray Industries, Inc., The Dow Chemical Company, BASF SE, KUREHA CORPORATION, Sumitomo Metal Mining Co Ltd., SHOWA DENKO K.K., and Johnson Matthey. 

 

Segmentation

The global battery materials market has been analyzed through the following segments:

By Type

Primary

Alkaline

Other

Secondary

Lithium Ion

Lead acid

Others

 

By Material

Cathode

Anode

Electrolyte

 

By Application

Electric Vehicle

Consumer Electronics

Industrial

Automotive

Medical Devices

Others

 

By Geography

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

Germany

France

United Kingdom

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

China

Japan

India

Others