Global Battery Materials Market- Growth, Revenue, Demand, Applications and Forecast Analysis to 2025
The global batterymaterials Market is expected to display stiff competitionamong leading players such as Arkema SA, BASF SE, FMC Corporation, CabotCorporation, and Mitsubishi Chemical Holdings Corporation. Players withinthe market are concentrating on manufacturing batteries that are efficient butat low cost. According to Transparency Market Research (TMR), players are alsofocusing on a developing high performance capacity batteries stiff competitionand increasing their consumer base.
Accordingto Transparency Market Research, between 2017 and 2025 the global batterymaterials Market will exhibit a remarkable growth of 13.6% CAGR and rice toUS$13.7 bn by 2025. On the basis of geography, North America has been leadingin the market for a battery materials on account of the presence of a largenumber of car producers. However, asia-pacific is expected to rip North Americaor if its leading position within the battery materials market by expanding ata robust CAGR of 12.2% and becoming the largest regional market for batterymaterials.
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SecondaryBatteries Witnessing Higher Demand
Onthe basis of application, it is expected that the secondary batteries segmentwill lead on account of high demand for secondary batteries such as lead acid,lithium iron, and nickel metal hydride from the automotive and consumer goodssector. Since consumer is expanding across the globe, a similar growth will beobserved by the secondary batteries segment. On the basis of types of batterymaterial, it is expected that the cathode battery material will be most indemand. Electrolytes and anode are expected to be other key materials ofbattery which will be in demand.
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ConsumerGoods and Transportation Sectors to Be Key End Use Areas for Battery Materials
On thebasis of end use, consumer goods is expected to be the leading segment. With astaggering 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 thiswill bolster the growth of the market. In addition to this it is expected thatthe transportation sector will also be a lucrative and use application area forbattery materials. Within the transportation sector, battery materials are usedfor Aerospace, Marine, automotive, and locomotive transportation. Moreover,with the growing concerns regarding Environmental Conservation and reducingcarbon footprint, and reduction of harmful emissions, the uptake of electricvehicles is expected to increase worldwide. This in turn is expected to bodewell for the battery materials market and also drive the transportation sectoras a key end use area.
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Depleting Fossil Fuels CreatingNeed for Alternatives
Accordingto the lead author of this report, with natural sources of fuels fallingincreasingly short, there is a need for Effective alternatives and this trendis expected to give rise to electric cars and other battery-driven vehicleswhich require the use of batteries. This in turn is subsequently benefiting thebattery materials Market. With recent technological advancements andInnovations, the manufacturing of lithium ion batteries have become extremelycheap. This in turn is expected to further drive the growth of the batterymaterials market. Within the consumer goods and Automotive sector, there is anincreasing and keen interest among manufacturers for Effective energy storagesolutions and this will also bode well for the growth of the battery materialsMarket. With a large number of countries voting to reduce carbon footprint byreplacing conventional vehicles with non-polluting electric and hybridvehicles, it is expected that the demand for battery materials will surgetremendously.
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The dataand 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 CobaltAluminum, and Lithium Ferrophosphate), Electrolyte (Ammonium Chloride, ZincCarbon, 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 andElectronic Devices), and Industrial (Energy Storage and Tools and Equipment) –Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
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