Global Battery Materials Market - Forecasts from 2019 to 2024

The global battery materials market was valued at US$37.248 billion in 2018 and is projected to grow at a CAGR of 5.17% during the forecast period. The demand for battery materials is majorly driven by the increasing usage of secondary batteries in a number of applications that includes electric vehicle, consumer electronics, medical devices and submarine among other applications. Rising disposable income is one of the key factors that are leading to an increased demand for portable electronics and vehicle among the growing population. Moreover, the increasing number of investments in the renewable energy sector is driving the demand for battery materials. By Material, Li-ion batteries are expected to grow at the fastest rate over the forecast period owing to its widespread adoption in electric vehicle and consumer electronics segment. Good growth of automotive sector is further going to accelerate the battery materials market growth.

Drivers

Growing demand for secondary batteries across various industries
Burgeoning adoption of electric vehicles around the globe

Restraints

Year over year decline in the demand of primary batteries

INDUSTRY UPDATE
In April 2019, Daimler invested $170 million in Sila Nano’s Next-Generation battery tech so as to develop advanced battery materials that improve power performance of electric vehicles and consumer electronics

The major players profiled in the global battery materials market Umicore, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Hitachi Chemical Co., Ltd., Toray Industries, Inc., The Dow Chemical Company, BASF SE, KUREHA CORPORATION, Sumitomo Metal Mining Co Ltd., SHOWA DENKO K.K., and Johnson Matthey.

Segmentation

The global battery materials market has been analyzed through the following segments:

By Type

Primary
Alkaline
Other
Secondary
Lithium Ion
Lead acid
Others

By Material

Cathode
Anode
Electrolyte

By Application

Electric Vehicle
Consumer Electronics
Industrial
Automotive
Medical Devices
Others

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
India
Others