(MENAFN- IMARC Group) The IMARC Group's latest research report, titled “Battery Materials Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the global battery materials market trends . The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global battery materials market size reached US$ 53.7 Billion in 2023 . Looking forward, IMARC Group expects the market to reach US$ 86.2 Billion by 2032 , exhibiting a growth rate (CAGR) of 5.3% during 2024-2032 .
Battery Materials Market Overview:
Battery materials refer to the various components used in the production of batteries, including the anode, cathode, electrolyte, and separator. These materials play a critical role in determining the performance, capacity, and longevity of a battery. Common materials used in battery production include lithium, cobalt, nickel, manganese, and graphite. Lithium-ion batteries are the most used type of battery in electronic devices and electric vehicles (EVs).
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Global Battery Materials Market Trends:
The increasing demand for electric vehicles (EVs) represents one of the significant factors driving the market growth across the globe. This, coupled with the rising demand for renewable energy storage systems, such as solar and wind power, that require batteries to store energy for later use is acting as a major growth-inducing factor. In line with this, the expanding automotive industry, along with increasing demand for various battery types including lithium-ion and lead-acid batteries from the automotive industry is contributing to the growth of the market.
The market is also driven by the increasing focus on sustainability and rising environmental concerns. In addition, the extensive research and development (R&D) of new battery materials and recycling technologies that can help reduce waste and extend the life of existing batteries is facilitating the growth of the market. Other factors, including advancements in battery technology, such as solid-state batteries and flow batteries, and government regulations and incentives aimed at reducing greenhouse gas (GHG) emissions and promoting clean energy, are creating a positive outlook for the market.
Top Manufacturers In Battery Materials Industry:
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. Umicore N.V.
Key Market Segmentation:
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, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance Market Outlook Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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