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Battery Materials Market Report by Type (Cathode, Anode, Electrolyte, Separator, and Others), Battery Type (Lithium Ion, Lead Acid, and Others), Application (Automobile Industry, Household Appliances, Electronics Industry, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5478
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Market Overview:
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.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 53.7 Billion |
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Market Forecast in 2032
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US$ 86.2 Billion |
| Market Growth Rate 2024-2032 | 5.3% |
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 2024-2032. 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Type, Battery Type, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global battery materials market was valued at US$ 53.7 Billion in 2023.
We expect the global battery materials market to exhibit a CAGR of 5.3% during 2024-2032.
The extensive applications of batteries in household appliances, military electronics, medical equipment, portable devices, etc., are primarily driving the global battery materials market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for battery materials.
Based on the type, the global battery materials market can be categorized into cathode, anode, electrolyte, separator, and others. Currently, cathode exhibits clear dominance in the market.
Based on the battery type, the global battery materials market has been segmented into lithium ion, lead acid, and others. Among these, lithium ion represents the largest market share.
Based on the application, the global battery materials market can be bifurcated into automobile industry, household appliances, electronics industry, and others. Currently, the automobile industry accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global battery materials market include 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.
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