Global Battery Materials Market

Global Battery Materials Market, By Material (Li-ion Battery Material, Lead-acid Battery Material), By Application (Portable Devices, Electric Vehicles, Industrial, Automotive, Industrial, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: September 2021
  • Report ID: BWC21105
  • Available Format: PDF
  • Page: 188

Report Overview

The global robot operating system market is growing at a high CAGR because of the increasing adoption of robots and automation in the small & medium-sized enterprises, along with growing research and development activities.

Global Battery Materials Market- Industry Trends & Forecast Report 2027

The global battery materials market was worth USD 45.7 billion in 2020 and is further projected to reach USD 73.0 billion by the year 2027, growing at the CAGR of 7.0% in the forecast period. A sudden boom in consumer electronics goods and the proliferation of smartphones have led to significant growth in the market. The advancement of electric vehicles is also expected to drive the global battery materials market.

Global Battery Materials Market

Source: BlueWeave Consulting

Global Battery Materials Market- Overview

Battery materials are raw materials that are used to manufacture batteries used in electronic goods. The basic component that determines batteries’ capacity and energy is the battery material or the raw material used for manufacturing batteries. Lithium, cobalt, nickel, lead, cadmium, etc., are the most common materials used in batteries. Since the lithium-ion battery has a higher energy density than lead and nickel batteries, it is very popular due to its wide application range.

Global Battery Materials Market Forecast and Trends

Growth Drivers

Increasing Consumer Electronic Goods Production

The electronic manufacturing industry is the world’s fastest-growing industry with increasing demand for electronic goods in various sectors. With the rapid advancement of smartphones, artificial intelligence, and voice recognition technology, electronic consumption is expected to skyrocket. Electronic products are widely used in almost all areas and industries such as homes, communication, defense, manufacturing, etc. As a result, the demand for battery materials is expected to flourish significantly with the increasing dependence on electronic devices in the foreseeable future.

Advancements in Battery Materials

Increasing demand and dependence on electronics have led to an increase in R&D spending by battery manufacturers to improve battery performance for better energy and longer battery life. For example, researchers at the University of Texas have created a lithium-ion battery that does not contain cobalt in its cathode. Nickel and manganese are currently used in significant concentrations, whereas aluminum is used for the remaining elements. The researchers hope that by developing this technology, they will be able to improve battery life and even ion dispersion while also lowering costs.

Restraints

Risks Associated with Battery Materials

Because batteries are made of toxic, corrosive materials, they are classified as hazardous waste. Lithium, cobalt, nickel, aluminum, manganese, and other very toxic metals are used in manufacturing battery materials. High levels of exposure to these compounds can cause skin, eye, and nose irritation, as well as asthma-like reactions. The most popular battery material, lithium, is extremely dangerous, particularly if the battery's shell is destroyed and the lithium is exposed to air/moisture. Such risks impede the growth of the global battery materials market.

Impact of COVID-19 on Global Battery Materials Market

The sudden outbreak of the COVID-19-induced pandemic significantly impacted the global battery materials market. The manufacturing and production operations of consumer electronic goods and automobiles were completely halted and the distribution system was obstructed. This resulted in a sharp decline in the demand for battery materials for the end-user industry. The lockdown and the social distancing measures also negatively affected the battery materials industry by hindering its operations. However, the market is expected to recover soon in the post-COVID-19 period.

Global Battery Materials Market - By Material

Based on material, the global battery materials market is segmented into Li-ion battery material and lead-acid battery material. The li-ion or lithium-ion battery accounts for the largest market share as they are commonly used in portable electronics and electric vehicles. This material type offers better battery life and high energy density which is why it is preferred over other materials. Its use in electric vehicles is one of the major influencing factors for the growth of the market as the automotive industry is increasingly focusing on expanding production operations.

Global Battery Materials Market - By Application

Based on application, the global battery materials market is segmented into portable devices, electric vehicles, industrial, automotive, industrial, and others. The Li-ion battery material is prominently used in portable devices, electric vehicles, and industrial applications. The portable device segment accounts for the largest market share because of the increasing dependence on electronic products for daily activities and growing smartphone penetration in the market. The expanding manufacturing activities and increasing purchasing power are also influencing the growth of the battery materials market.

Global Battery Materials Market - Regional Insights

Geographically, the global battery materials market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the market because of the increasing penetration of consumer goods and electric vehicle manufacturing. Furthermore, various government initiatives for promoting renewable energy sources like offering tax rebates, etc., are also influencing the market. However, the Asia-Pacific region is emerging as a potential market for battery materials with flourishing manufacturing industry in consumer goods production and increasing foreign direct investment in countries like China, India, etc.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global battery materials market are BASF, Umicore, Dow Chemical, POSCO, Mitsubishi Chemical Corporation, Showa Denko, Johnson Matthey, Mitsui Mining & Smelting Company, Hitachi Chemical, Toray, Sumitomo Corporation, Kureha Corporation, Asahi Kasei Corporation, Shanshan Technology, Nei Corporation, Tanaka Chemicals, Zhangjiagang Guotai Huarong Chemical New Material, L&F, Nexeon Limited, and other prominent players.

The market is fragmented, with the presence of several global and regional market players. The industry players focus on manufacturing high-power battery materials with lower cost and longer life. They also invest significantly in R&D activities. Furthermore, the adoption of competitive strategies like mergers, acquisitions, collaborations, etc., is also very prominent in the market.

Recent Developments

  • In August 2021, Group14 technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, and Inobat Auto, a European R&D manufacturing company, announced their partnership for the custom manufacturing of high energy density batteries for automotive applications.
  • In August 2021, Li-Cycle Holdings Corp, a lithium-ion battery resource recovery and lithium-ion battery recycler, announced its business combination with Peridot Acquisition Corp.

 

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Material, By Application, By Region

Key Players

BASF, Umicore, Dow Chemical, POSCO, Mitsubishi Chemical Corporation, Showa Denko, Johnson Matthey, Mitsui Mining & Smelting Company, Hitachi Chemical, Toray, Sumitomo Corporation, Kureha Corporation, Asahi Kasei Corporation, Shanshan Technology, Nei Corporation, Tanaka Chemicals, Zhangjiagang Guotai Huarong Chemical New Material, L&F, Nexeon Limited, and other prominent players.

 

By Material

  1. Li-ion Battery Material
  • Cathode Material
  • Anode Material
  • Electrolyte Material
  • Separator Material
  • Other Materials
  1. Lead-acid Battery Material
  • Cathode Material
  • Anode Material
  • Electrolyte Material
  • Separator Material
  • Other Materials

By Application

  1. Li-ion Battery
  • Portable Devices
  • Electric Vehicles
  • Industrial
  • Others

Lead-acid Battery

  • Automotive
  • Industrial
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Frequently Asked Questions:

Ans: The global Battery Materials market reached USD 45.7 billion in 2020.
Ans: The major factors driving the growth of the global Battery Materials market are; increasing consumer electronic goods production and advancements in battery materials.
Ans: The key players in the global Battery Materials market are: BASF, Umicore, Dow Chemical, POSCO, Mitsubishi Chemical Corporation, Showa Denko, Johnson Matthey, Mitsui Mining & Smelting Company, Hitachi Chemical, Toray, Sumitomo Corporation, Kureha Corporation, Asahi Kasei Corporation, Shanshan Technology, Nei Corporation, Tanaka Chemicals, Zhangjiagang Guotai Huarong Chemical New Material, L&F, Nexeon Limited, and other prominent players.
Ans: The portable device segment accounted for the largest share in the global battery materials market.
Ans: North America has the largest share in the global battery materials market.