Battery Materials Global Market Report 2022: Clean Energy and Government Subsidies Boost Sector - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 22, 2022--
The “Battery Materials Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030” report has been added to ResearchAndMarkets.com’s offering.
The global market for battery materials is expected to expand at a CAGR of 16.3% during the forecast period of 2022 to 2030. The market for battery materials is expected to experience significant expansion in the coming years as a result of the rising demand from a variety of applications, including electric vehicles (EVs), portable devices, electronics products, and industrial settings.
Opportunities may be found in a variety of industries, including consumer electronics, industrial manufacturing, and transportation, which all point to a bright future for the market for battery materials. The increasing popularity of electric vehicles, the rising demand for portable gadgets, and the expanding requirement for energy storage devices are the primary factors propelling the growth of this market.
Clean Energy and Government Subsidies Are the Primary Motivators
Every nation is looking for new, clean sources of energy in order to eliminate its carbon footprints. The sophisticated battery technology contributes to the successful completion of the emission standards. Electric vehicles are getting a boost from governments all around the world in the form of subsidies, new policies, and stricter regulations on carbon emissions.
Demand for electric vehicles across the globe has been on the rise over the past few years, with China taking the lead in the market for EVs. The electric vehicle market is primarily driven by China, which in 2021 sold 3.3 million more automobiles than the rest of the world did 2020.
Boosting The Use of Material Derived from Recycled Lithium-Ion Batteries to Encourage Market Growth
At the moment, one of the most important market trends involves the growing interest in using recycled materials for Li-ion batteries. For example, Fortum, a provider of clean energy solutions, recycles more than 80% of the Li-ion materials that it uses. As a result, it has transformed the battery value chain across a variety of industrial and electric car applications. Recovering nickel, cobalt, and manganese from used batteries for subsequent usage and the production of new batteries is made possible by the company’s industrial-scale and low-CO2 processing methods.
A Rise in Consumer Interest in Electric Vehicles Is Expected to Stimulate Market Expansion
Demand for electric vehicles is increasing all over the world as a direct result of the rapid evolution that is occurring alongside the ongoing innovations in the automotive sector. The rising sensitivity of various government organisations towards a cleaner and greener environment has contributed to an increase in the demand for zero-emission electric vehicles.
Favourable government norms in terms of subsidies, tax rebates, and new car registration are driving growth. It is probable that the growing desire for a decrease in carbon emissions, as well as the deployment of rapid and advanced charging stations, will increase sales of electric vehicles, which will favour product demand. In addition to this, the increasing popularity of electric buses, particularly in India and China, has been a significant factor in the expansion of the commercial electric sector.
Demand For Consumer Electronics Is Expected to Grow, Which Will Help Drive Market Expansion
The rising demand for electronic products like computers, televisions, mobile phones, and other devices is largely responsible for the current high output levels in the electronics industry. The International Business Electronics Fair (IBEF) estimates that the global market for consumer electronics would be worth 426.1 billion USD by the year 2020.
There is a good chance that the market for consumer electronics will be driven by developments in technology, as well as by the rapid growth of the gaming industry. Growth in the market is projected to be driven by the rising demand for batteries in consumer electronics such as smartphones, laptops, smart electronic wearables, digital cameras, and tablets.
Opportunity Presented by The Use of Batteries in Devices That Store Energy
Batteries such as lead-acid and lithium-ion are utilised in the production of energy storage devices. These batteries are intended to provide a high level of performance and power output across a variety of different settings and contexts. Datacentres demand stable power supplies, and as a result, they make use of uninterrupted power supplies (UPS) to supply the load with electricity. In addition to their usage in the generation of renewable energy, energy storage devices are also utilised in hybrid vehicle systems.
- Lithium Ion
- Lead Acid
End use Industry
- Automobile Industry
- Household Appliances
- Electronics Industry
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Battery Materials market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Battery Materials market?
- Which is the largest regional market for Battery Materials market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Battery Materials market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Battery Materials market worldwide?
Key Topics Covered:
2. Executive Summary
3. Battery Materials Market: Business Outlook - Market Dynamics
4. Battery Materials Market: By Battery, 2020-2030, USD (Million)
5. Battery Materials Market: By End use Industry, 2020-2030, USD (Million)
6. Battery Materials Market: By Material, 2020-2030, USD (Million)
7. North America Battery Materials Market, 2020-2030, USD (Million)
8. UK and European Union Battery Materials Market, 2020-2030, USD (Million)
9. Asia Pacific Battery Materials Market, 2020-2030, USD (Million)
10. Latin America Battery Materials Market, 2020-2030, USD (Million)
11. Middle East and Africa Battery Materials Market, 2020-2030, USD (Million)
12. Company Profile
- China Molybdenum Co. Ltd.
- Gan feng Lithium Co. Ltd.
- Glencore PLC
- Livent Corporation
- Norlisk Nickel
- Sheritt International Corporation
- Targray Technology International Inc.
- Teck Resources
- Tianqi Lithium
- Vale S.A.AB
- Absco Limited
- Henan Ruiheng New Material Co.
- Mudanjiang Qianjin Boron Carbide Co. Ltd.
- Kemet International Limited
- WASHINGTON MILLS
- Absco Limited
- CoorsTek Inc.
- UK Abrasives Inc.
- Precision Ceramics USA
For more information about this report visit https://www.researchandmarkets.com/r/dqvt52
View source version on businesswire.com:https://www.businesswire.com/news/home/20221222005263/en/
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SOURCE: Research and Markets
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PUB: 12/22/2022 07:13 AM/DISC: 12/22/2022 07:13 AM