Battery Material Market

SKU: DM2189 | Last Updated On: Sep 14 2022 | Available Formats

> Global Battery Material Market Expected to reach at a high CAGR of 5.9% by 2029: DataM Intelligence

Global Battery Material Market is segmented By Battery Type (Lead-Acid, Lithium-ion, Others (Nickel-Metal Hydride, Nickel Cadmium)), By Material Type (Li-ion Battery Material, Separator Material, Electrolyte Material, Other Materials), By End-Use Industry (Automotive, Industrial, Consumer Electronics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market overview

[200 Pages Report] The Global Battery Materials Market is expected to grow at a CAGR of 5.9% during the forecast period (2022 - 2029).

Battery Materials Market - Strategic Insights

Metrics

Details

Market CAGR

 5.9%

Segments Covered

By Battery Type, By Material Type, By End-Use Industry and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To Get a Free Sample Click here

A battery is a type of power source that consists of one or more electrochemical cells with external connections that can be used to power electrical devices such as flashlights, mobile phones, and electric cars.

Market dynamics

Drivers:

Increase in usage of Electric vehicles.

Motivated by growing environmental concerns as well as oil's limited supply, the automotive industry has continued to develop various alternative fuel vehicles. Battery electric vehicles (BEVs) are among the most common and widely used non-petroleum-based solutions. One of the primary benefits of BEVs is that they emit no emissions (generating no greenhouse gases or pollutants). As a result, BEVs contribute to cleaner air and are better for the environment. Furthermore, these vehicles run on electricity, which can be generated in a more sustainable and environmentally friendly manner. Hence the demand for Electric vehicles has been increasing over the years. According to the International Energy Agency, sales of electric vehicles surpassed 2.1 million globally in 2019, surpassing the previous year's record of 7.2 million electric vehicles. In 2019, electric cars accounted for 2.6 percent of global car sales and about 1 percent of global car stock, representing a 40 percent year-on-year increase. The 2.1 million electric car sales in 2019 represent a 6% increase over the previous year, compared to year-on-year sales growth of at least 30% since 2016. Moreover, technological advancements are expected to further boost the BEV market. Some popular electric car models in 2018-19 had battery energy densities that were 20-100 percent higher than their 2014 counterparts. This continuously growing demand for battery powered electric vehicles is expected to drive the battery materials market on a global scale.

Growing use of electronic devices is expected to boost the battery materials market.

Over the last decade, there have been a lot of major developments in the electronic devices’ markets. Fitness devices, smartphones, laptops have observed an increase in sales consistently. As batteries are being used in these devices, we expect the battery materials market to be boosted on a global scale by the sales of these electronic devices. According to data, the global consumer electronics market reached approximately 300 billion US Dollars in 2019 and is expected to increase during the forecast period. Consider the launches of smart speakers, ever since this happened, the, global speaker shipment numbers went up drastically, from 7 million units in 2016 to over 36 million units in 2019. A rise in sales of smartphones, which majorly contain Lithium-ion batteries, is also expected to boost the battery material market. For example, in 2019, Samsung reported selling over 75 million units of smartphones, a significant increase from the approximately 58 million units it sold in the first quarter of 2020.

Restraints:

The factors restraining the Battery materials market are the regulations and safety issues that have to be followed while using these materials.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a lasting and significant impact on industries all over the world, including the battery materials market. The global automotive industry has seen a drop in sales ever since the pandemic started, due to social distancing and traveling restrictions implemented by governments all over the world. Passenger car sales have been steadily declining around the world. Car sales began to fall precipitously during the 2008-2009 economic downturn and re-entered a sales slump at the end of 2018. Sales fell in 2020 as a result of the Covid-19 outbreak and related measures to control the spread of the coronavirus. According to the International Energy Agency’s car sales data from January to April 2020, the passenger car market shrank by about 15% year on year compared to 2019. On the other hand, the demand for Electric vehicles is expected to grow during the pandemic and along with it the growing demand for smartphones and fitness devices will recover the battery materials market.

Segment Analysis

The Global Battery materials market is segmented by Battery type, material type, end-use, and Region.

Based on Battery Type

The Global Battery Materials market based on battery type is segmented into Lead-Acid, Lithium-Ion, and Others.

The Lithium-ion battery type held the majority of the market share in 2020 and is expected to do so in the forecast period. Lithium-ion batteries are quickly becoming the preferred power source in smart applications and devices. They supply a significant portion of the world's electronics market demand, including cell phones, personal computers, and digital/video cameras. Lithium-ion batteries are used in the majority of modern portable electronic devices. Because of their high charging backup capacity, lithium-ion batteries are a more convenient choice for electronics. Lithium-ion batteries are more environmentally friendly, last longer, recycle better, and require far less maintenance. All of these characteristics are critical in the global adoption of Li-ion batteries by key electronic manufacturers. According to data, in 2020, the global lithium-ion battery market was approximately worth 40 billion US dollars. Its market value is expected to more than double by 2026, reaching nearly 90 billion US dollars. Due to tightening environmental regulations, global sales of hybrid and plug-in electric vehicles are expected to reach approximately 40% of total car sales by 2030. As a result, large-scale electric vehicle production is expected to drive lithium demand in the short term. The demand for lead-acid batteries, which are majorly used in petroleum-driven vehicles, is expected to fall in the forecasted period. Growing environmental concerns against the use of petroleum-driven vehicles is expected to affect the lead-acid battery market.

Based on Region

The Global Battery Material market based on Region is segmented into North America, Europe, South America, Asia-Pacific, Middle East, and Africa.

Asia Pacific currently dominates the battery materials market and is expected to hold the largest market share globally through 2026. The Asia Pacific region's market is being driven by an increase in the production of electric vehicles and the use of batteries in vehicles. The market is dominated by China and India, both of which have significant lithium-ion manufacturing potential. According to data, in 2020, China was the largest holder of the passenger vehicles market with total sales amounting to approximately 20 million units. China and India are considered to be among the largest car markets in the world, followed by Japan, Germany and USA. According to data, in the global lithium-ion battery manufacturing market, CATL (Contemporary Amperex Technology Co. Limited), a Chinese company ranked second with a market share of approximately 26%, followed by Panasonic which had a market share of approximately 21%. The demand for battery electric vehicles in China is also expected to boost the battery materials market. According to the International Energy Agency, of the 7 million electric car sales in 2019, approximately 47% of those came in China. Moreover, China has also recently strengthened its New Energy Vehicle mandate and CO2 emissions standards, with the goal of increasing sales of battery-powered electric vehicles.

North American battery materials market is also expected to grow during the forecast period. Americans spend the most money on smartphones, consequently the smartphone market was approximately worth $80 billion in 2019, according to data. Samsung and Apple (headquartered in USA) dominate the global smartphone market, and in recent years Xiaomi has gained ground. These three companies account for approximately 51.9 percent of the global smartphone market.  

Competitive Landscape

With existing market players, the Battery Material market is highly competitive. Hitachi Chemical, Mitsubishi Chemical Holdings, Kureha Corporation, Johnson Matthey, Asahi Kasei Corporation, Umicore, Dow Chemical, Zhangjiagang Guotai Huarong Chemical New Material, LG Chem, CATL and Tanaka Chemicals are among the major players. To meet the growing demand, both incumbent and new battery producers have made significant investments in expanding manufacturing capacity.

For instance, in 2019, IBM announced that its research division had developed a new type of battery that employs cobalt and nickel-free cathode material as well as a safe liquid electrolyte with a high flash point. This novel cathode-electrolyte combination demonstrated the ability to suppress lithium metal dendrites during charging, reducing flammability.

Company Profile:  LG Chem

Overview: LG Chem is a public limited chemical company that produces a wide range of products, including petrochemicals and plastics. It was established in 1947 and is based in Seoul, South Korea.

Product Portfolio:  The company offers fundamental materials and chemicals, as well as energy solutions such as automotive and ESS batteries. Furthermore, the company provides advanced materials, specialty drugs, and vaccines.

Recent Developments:

  1. GM and LG Chem announced plans in April 2021 to build a second U.S. battery cell factory, a $2.3 billion facility in Spring Hill, Tennessee, that will supply the automaker with the cells needed for the 30 electric vehicle models it plans to launch by the mid-decade.
  2. LG Chem invested 150 billion KRW in the Prospective ESG Company Incubation Fund in May 2021 as part of its effort to find and foster domestic companies in the battery materials and eco-friendly industry materials sectors.

Why Purchase the Report?

  • Visualize the Battery Material composition in terms of various types of battery types, material types, and end-use industries, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the Battery Material market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Battery Material market-level 4/5 segmentation.
  • A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The Battery Material report would provide approximately 61 data tables, 53 figures, and 200 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

Trending Topics

Solid-State Battery Market

Lithium-Ion Battery Market

FAQ

What is the Battery Materials Market growth?

The market is growing at a CAGR of 5.9%

What is Battery Materials Market size in 2021?

The Battery Materials Market size was valued at USD YY million in 2021

Who are the key players in Battery Materials Market?

Hitachi Chemical, Mitsubishi Chemical Holdings, Kureha Corporation, Johnson Matthey, Asahi Kasei Corporation, Umicore, Dow Chemical

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest