Global Battery Materials Industry: Share, COVID-19 Overview, Application, Growth and Forecast 2023
Battery Materials Market Overview
Battery materials are essential components used in
manufacturing primary and secondary batteries. These batteries, in turn, have
major applications in end-use industries such as automobiles, electronics,
electrical grids, and power storages. Batteries have much lower specific energy
than common fuels such as gasoline.
Some of the prominent factors that positively
influence the growth of the battery materials market growth are
increasing demand for batteries from automobile industries, rising demand for
electronic gadgets, and increasing urbanization. Increasing urbanization along
with rising per capita disposable income in developed and emerging economies
are predicted to drive the growth of the market over the forecast period, 2017
to 2023. Additionally, high adoption rate along with the increasing number of
power plants to meet the energy requirement for the ever-growing population is
driving the market. Moreover, continuous expansion of automotive sector as well
as shifting the focus of the manufacturers towards gasoline free transport by
adopting electric vehicles run by batteries is estimated to fuel the growth of
the market during the review period, 2017 to 2023. However, growing
environmental concern regarding the toxic effect of chemicals used in battery
materials along with the implementation of strict regulations is predicted to
hinder the market growth over the assessment period, 2017 to 2023.
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Battery Materials Market Key Players
Some of the prominent players operating in the battery
materials market forecast are 3M Company
(U.S.), BASF SE (Germany), ENTEK International LLC (U.K), Ecopro Co., Ltd.
(South Korea), Hitachi Chemical Company, Ltd. (Japan), E. I. du Pont de Nemours
and Company (U.S.), Celgard, LLC (U.S.), The Dow Chemical Company (U.S.),
Mitsubishi Chemical Corporation (Japanese), Solvay S.A. (Belgium) and Nippon
Denko Co., Ltd. (Japan) among others.
Battery Materials Market Regional Analysis
Asia Pacific is estimated to be the
largest battery materials industries followed by North America and
Europe due to the strong existence of battery materials manufacturers coupled
with the highest number of millennial population. In Europe, Germany, Russia,
and Spain are predicted to register a strong growth on account of tremendous
demand for battery materials in battery manufacturing for the automobiles. In
Asia Pacific, countries such as China, India, and South Korea are the fastest
growing market for battery materials and is estimated to grow at the same pace
over the forecast period. Improving living standards along with the flourishing
growth of electronics industry is predicted to contribute to the regional market
growth. In North America, the market is expected to grow to moderate CAGR owing
to the presence of high innovation and technology in battery materials
manufacturing. In Latin America, Mexico is expected to register strong growth
due to the robust presence of automobile manufacturers.
Battery Materials Market Segmentation
The global COVID-19
analysis on battery materials market report is categorized on the basis of type,
application, end use industry, and region. On the basis of the type, the market
is bifurcated into cathode, anode, electrolyte, separator, binders, packaging
material. On the basis of the application, the battery materials market is
categorized into primary batteries, secondary batteries, and others. On the
basis of the end use industry, the market is segmented into electronics,
automobiles, power storages, and others. On the basis of the region, the market is
categorized into Asia Pacific, Europe, Latin America, North America, and the
Middle East & Africa.
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