The “Battery Materials Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Battery Materials Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global battery materials market size was US$ 46.6 billion in 2021. The global battery materials market is forecast to grow to US$ 74.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.
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COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has declined the demand for the electric vehicle, which ultimately hampered the growth of the global battery materials market. In addition to that, the mining sector witnessed various challenges, which reduced the production capacity of battery materials. In addition, conveyance, electrical & electronics, automotive, and energy sectors also witnessed an abrupt drop in terms of revenue. As a result, it hampered the growth of the global battery materials market.
Factors Influencing the Market
The global battery materials market is forecast to witness substantial growth in the coming years, owing to the rising use of consumer electronics such as smartphones and laptops. In addition, the rising collaborations between miners and battery manufacturers will fuel the growth of the global battery materials market during the forecast period.
Growing prices of crude oil and concerns related to carbon emission are forecast to upsurge global EV sales. Furthermore, favorable incentives and tax rebates by government bodies will increase the demand for electric vehicles. Therefore, it will propel the overall battery materials market forward.
Growing employment rates and the development of new battery technologies will contribute to the growth of the global market. On the contrary, environmental concerns associated with the mining of metals may limit the battery materials market growth during the study period.
Regional Analysis
On the basis of region, the Asia-Pacific battery materials market is expected to hold the highest share, owing to the strong economic growth of emerging economies, such as China, Indonesia, Malaysia, and India. In addition, the growing initiatives for the rollout of 5G technology will further push smartphone sales. As a result, it will drive the Asia-Pacific battery materials market forward.
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The 5G rollout in China has been beneficial for the mobile, telecom, and Unicom sectors. In addition to that, India is expected to be one of the largest markets for battery materials as telecom companies are focusing on launching 5G services in the country. As a result, it will drive the battery materials market forward. Furthermore, the growing employment rate and rising initiatives to promote the use of electric vehicles will benefit the Asia-Pacific battery materials market during the forecast period.
Competitors in the Market,Albemarle, Gan Feng Lithium Co. Ltd., China Molybdenum Co. Ltd., Glencore PLC, Norlisk Nickel, Sheritt International Corporation, Livent Corporation, SQM, Teck Resources, Tianqi Lithium, Targray Technology International Inc., Vale S.A., Other Prominent Players
Market Segmentation
The global battery materials market segmentation focuses on Battery, End-Use, and Region.
By Battery Type Outlook
- Lithium-Ion
- Lead Acid
- Others
By End-Use Outlook
- Automobile Industry
- Household Appliances
- Electronics Industry
- Others
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By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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