Battery Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Battery Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global battery materials market size reached US$ 50.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

Battery materials are individual materials potentially present in cell electrodes, electrolytes, and separators. They comprise antimony (Sb), cadmium (Cd), copper (Cu), lead (Pb), silicon (Si), lithium (Li), cobalt (Co), nickel (Ni), zinc (Zn), graphite (C), and manganese (Mn). Among these, C has the highest proportion by volume of all the battery raw materials as it helps avoid dendrite formation and the high reactivity of alkali metal anodes. At present, as batteries find extensive applications in household appliances, military electronics, medical equipment, and portable devices, the demand for battery materials is rising across the globe.

Battery Materials Market Trends:
There is considerable reliance on smartphones, laptops, and other electronic devices worldwide. This represents one of the key factors bolstering the growth of the market. Besides this, governments of numerous countries are offering subsidies and financial incentives like grants or tax rebates to encourage the adoption of electric vehicles (EVs) and reduce carbon emissions. This, coupled with the burgeoning automotive industry, is driving the market. Moreover, there is a rise in the use of lithium-ion batteries (LIBs) around the world on account of their high energy density. They also provide emergency backup power in case of power loss or fluctuation, which is required for office equipment like computers and IT servers. In line with this, they are emerging as an alternative to gasoline and lead-acid batteries in powering speed boats and yachts. In addition, LIBs are utilized in wheelchairs, bikes, scooters, and other mobility aids for individuals with mobility restrictions. Furthermore, key players are increasingly focusing on agreements/partnerships with domestic players to increase their geographical presence, which is fueling the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global battery materials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, battery type and application.

Breakup by Type:

Cathode
Anode
Electrolyte
Separator
Others

Breakup by Battery Type:

Lithium Ion
Lead Acid
Others

Breakup by Application:

Automobile Industry
Household Appliances
Electronics Industry
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Asahi Kasei Corporation, BASF SE, Entek International Ltd., Johnson Matthey, Livent, Mitsubishi Chemical Holdings Corporation, Nichia Corporation, Showa Denko K. K., Sumitomo Chemical Co. Ltd., Targray Technology International Inc. and Umicore N.V.

Key Questions Answered in This Report

1. What was the size of the global battery materials market in 2022?
2. What is the expected growth rate of the global battery materials market during 2023-2028?
3. What are the key factors driving the global battery materials market?
4. What has been the impact of COVID-19 on the global battery materials market?
5. What is the breakup of the global battery materials market based on the type?
6. What is the breakup of the global battery materials market based on the battery type?
7. What is the breakup of the global battery materials market based on the application?
8. What are the key regions in the global battery materials market?
9. Who are the key players/companies in the global battery materials market?