Understanding Impact of COVID-19 on Battery Materials Market
The global battery materials Market is expected to display stiff competition among leading players such as Arkema SA, BASF SE, FMC Corporation, Cabot Corporation, and Mitsubishi Chemical Holdings Corporation. Players within the market are concentrating on manufacturing batteries that are efficient but at low cost. According to Transparency Market Research (TMR), players are also focusing on a developing high performance capacity batteries stiff competition and increasing their consumer base.
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According to Transparency Market Research, between 2017 and 2025 the global battery materials Market will exhibit a remarkable growth of 13.6% CAGR and rice to US$13.7 bn by 2025. On the basis of geography, North America has been leading in the market for a battery materials on account of the presence of a large number of car producers. However, asia-pacific is expected to rip North America or if its leading position within the battery materials market by expanding at a robust CAGR of 12.2% and becoming the largest regional market for battery materials.
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Consumer Goods and Transportation Sectors to Be Key End Use Areas for Battery Materials
On the basis of end use, consumer goods is expected to be the leading segment. With a staggering surge in the rise of the sales of laptops computers, and mobiles, there is a height in the demand for various types of battery materials and this will bolster the growth of the market. In addition to this it is expected that the transportation sector will also be a lucrative and use application area for battery materials. Within the transportation sector, battery materials are used for Aerospace, Marine, automotive, and locomotive transportation. Moreover, with the growing concerns regarding Environmental Conservation and reducing carbon footprint, and reduction of harmful emissions, the uptake of electric vehicles is expected to increase worldwide. This in turn is expected to bode well for the battery materials market and also drive the transportation sector as a key end use area.
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The data and information presented in this review are based on a TMR report titled, “Battery Materials Market (Material – Anode (Lithium, Cobalt, Lead, Carbon, Graphite, and Magnesium), Cathode (Manganese Dioxide, Lithium Manganese Oxide, Lead Dioxide, Lithium Cobalt Oxide, Nickel Manganese Cobalt, Nickel Cobalt Aluminum, and Lithium Ferrophosphate), Electrolyte (Ammonium Chloride, Zinc Carbon, Alkali Metal Hydroxide, and Sulfuric Acid), and Binders; Application – Primary Batteries and Secondary Batteries; End-use – Transportation (Automotive, Aerospace, Locomotive, and Marine), Consumer Goods (Electrical and Electronic Devices), and Industrial (Energy Storage and Tools and Equipment) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
The Global Battery Materials Market is segmented as below:
Global Battery Materials Market, by Material
- Anode
- Lithium
- Cobalt
- Lead
- Carbon
- Graphite
- Magnesium
- Others
- Cathode
- Manganese Dioxide
- Lithium Manganese Oxide
- Lead Dioxide
- Lithium Cobalt Oxide
- Nickel Manganese Cobalt
- Nickel Cobalt Aluminum
- Lithium ferrophosphate
- Others
- Electrolyte
- Ammonium Chloride
- Zinc Carbon
- Alkali Metal Hydroxide
- Sulfuric Acid
- Others
- Binders
- Others
Global Battery Materials Market, by Application
- Primary Batteries
- Secondary Batteries
Global Battery Materials Market, by End-user
- Transportation
- Automotive
- Aerospace
- Locomotive
- Marine
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