Global Battery Materials Market (2022 Edition) – Analysis By Battery Type (Lead Acid, Lithium-Based, Others), End User (Industrial, Portable Devices, Automotive), By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2021-2026)
Executive Summary
The Global Battery Materials Market, valued at USD 66.24 Billion in the year 2020 has been witnessing unprecedented growth in the last few years on the back of a rapid rise in urbanization, growing government support, growing demand of eco-friendly batteries and rising adoption of digitalization in battery manufacture. These factors will drive the Battery Materials Market market value in the near future.
Among the Battery type (Lead Acid Batteries, Lithium-Based Batteries, Others), the Lithium-Based Batteries segment holds the largest share globally and is expected to grow at a fast pace in the forecast period. The need for Lithium-Based Batteries is higher as compared to other battery chemistries, also, Lithium-Based Batteries are widely used in Electric vehicles, portable devices due to the advantages of a lithium-based battery, which will drive the market.
Among the End-User (Industrial, Portable devices, Automotive), Automotive holds a large share in the market globally and is expected to keep growing in the forecast period. It is one of the largest application of batteries material as the demand of battery materials is high in electric vehicles and the rising demand for EVs will keep driving the market in future.
The main growth in Battery Materials Market has been registered from APAC in 2020. The presence of leading battery producers in China, Japan and South Korea and the increasing requirements of batteries in the consumer electronics and automotive sector especially electric vehicles in the region is expected to accelerate major growth in the market.
Scope of the Report
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