Yahoo Finance Battery Materials Global Market Report 2022: Growth of HEVs, PHEVs, and EVs to Accelerate Demand for Lithium-Ion Batteries
Global Battery Materials Market
Dublin, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The "Battery Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Cathode, Anode, Electrolyte), Application (Automotive, EV, Portable devices, industrial), and Region (Asia Pacific, North America, Europe, RoW) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global battery material market size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. The market has a promising growth potential due to several factors such as increasing demand for sustainable vehicles and energy storage system, portable devices, and electronics product.
The lithium ion type battery is expected to register the highest CAGR of the overall battery materials market during the forecast period, in terms of value.
Lithium ion batteries are used in the Evs, portable device, and electronics product. For many years China has been the top EVs manufacturers and consumer. The country's top position in the Evs and portable devices has helped Asia Pacific gain a significant share in the global battery materials market. Growing economy, such as India, China, and Indonesia are also actively engaged in EVs and electronics product production that have boost the demand for battery materials. This scenario is expected to continue during the forecast period.
The electric vehicle application is projected to register the highest CAGR during the forecast period.
Electric vehicle is the market driver in this segment globally. Growth in applications, including electric vehicles, portable device, and electronics product. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, South Korea, Japan, and Indonesia. Global battery material manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.
Market Dynamics
Drivers
Growth of HEVs, PHEVs, and EVs to Accelerate Demand for Lithium-Ion Batteries
High Demand for Lithium-Ion Technology in Renewable Energy Industry
Growth in Consumer Electronic Devices
Restraints
Stringent Safety Requirements for Batteries During Operation
Inadequate Charging Infrastructure
Opportunities
Use of Batteries in Energy Storage Devices
Innovation and Advances in Lithium-Ion Battery Technology
Challenges
Regulations and Safety Issues Related to Lead-Acid Battery Materials
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Battery Materials Market, by Battery Type
7 Battery Materials Market, by Material
8 Battery Materials Market, by Application
9 Battery Materials Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent/Related Markets
13 Appendix
Companies Mentioned
Asahi Kasei Corporation
Basf
Entek
Gravita India
Johnson Matthey
Kureha Corporation
L&F
Mitsubishi Chemical Holdings
Mitsui Mining & Smelting Company
Nei Corporation
Nexeon Limited
Nichia Corporation
Posco
Pulead Technology Industry
Shanshan Technology
Showa Denko
Sumitomo Corporation
Tanaka Chemicals
Toda Kogyo Corp.
Toray Industries
Ube Corporation
Umicore
Zhangjiagang Guotai Huarong Chemical New Material
For more information about this report visit https://www.researchandmarkets.com/r/qvho4t
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