Press release
Battery Raw Materials Market Accelerates 7.7% CAGR Forecast (2022-2030)
● The global battery raw materials market size is projected to expand to USD 91.5 billion by 2030, growing at a CAGR of 7.7% from 2022 to 2030.
● The Asia-Pacific region generated over 30% of the market shares in 2021.
● The lithium-ion battery type recorded around 48% of the overall market share in 2021.
● Among li-ion battery material applications, consumer electronics generated shares of over 51% in 2021.
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Battery Raw Materials Market Overview and Analysis:
The market is driven by growth in electric vehicles such as HEVs and PHEVs, increasing demand for lithium-ion technology in the renewable energy industry, and a surge in consumer electronic devices. However, strict regulations for batteries during operation and poor charging infrastructure pose challenges.
Latest Battery Raw Materials Market Trends and Innovations
The battery raw materials market is witnessing growing technological advancement in lithium-ion (Li-ion) battery technology. This is due to the increasing demand for Li-ion batteries in electric vehicles (EVs), energy storage systems (ESSs), and consumer electronics. The market is also seeing a rising adoption of recycled Li-ion battery materials. This is driven by the increasing cost of virgin battery materials and the environmental benefits of recycling. Another key trend in the battery raw materials market is the focus on the management of waste lead-acid batteries. Lead-acid batteries are the most common type of battery used in the world, and they are a major source of environmental pollution. The market is seeing an increasing number of initiatives to recycle and dispose of lead-acid batteries in a safe and environmentally friendly manner.
Major Growth Drivers of the Battery Raw Materials Market
The growth of the battery raw materials market is being driven by a number of factors, including:
● The electrification of personal mobility: The global EV market is expected to grow being driven by government mandates, environmental concerns, and the increasing affordability of EVs.
● Government mandates accelerating change: Governments around the world are introducing regulations to reduce greenhouse gas emissions and promote the use of renewable energy. These regulations are driving the demand for batteries for EVs, ESSs, and other clean energy technologies.
● Increasing use of lightweight and rechargeable batteries in consumer electronics: The demand for lightweight and rechargeable batteries is growing in consumer electronics, such as smartphones, laptops, and tablets. This growth is being driven by the increasing need for power-intensive features, such as high-resolution displays and fast processors.
Key Challenges Facing the Battery Raw Materials Industry
The battery raw materials industry faces a number of challenges, including:
● Strict regulations during battery operation: Batteries are subject to a number of regulations, including those related to safety, performance, and environmental impact. These regulations can increase the cost of battery production and make it difficult to bring new battery technologies to market.
● Poor charging infrastructure: The lack of a widespread charging infrastructure for EVs is a major barrier to the adoption of these vehicles. This is a particular challenge in rural areas, where there are fewer charging stations available.
● Concerns regarding the use of carcinogenic materials in lead batteries: Lead-acid batteries are a major source of lead pollution. Lead is a toxic metal that can cause health problems, including cancer. The use of lead in batteries is being phased out in many countries, but it is still a major challenge for the battery raw materials industry.
Market Segmentation Insights:
● By Battery Type: Lithium-Ion, Lead Acid, Others
● By Li-Ion Battery Material: Anode, Cathode, Separator, Binder, Electrolyte, Packaging Material
● By Li-Ion Battery Material Application: Consumer Electronics, Automotive, Grid Storage, Others
● By Lead Acid Battery Material: Electrodes, Electrolyte, Separator, Packaging
Overview by Region of the Battery Raw Materials Market:
Asia-Pacific dominates the market, with North America and Europe also showing significant growth. The market in these regions is driven by the expanding middle-income population group with increased inclination for smartphones and electric vehicles.
Battery Raw Materials Market Table of Content:
CHAPTER 1. Industry Overview of Battery Raw Materials Market
CHAPTER 2. Research Approach
CHAPTER 3. Market Dynamics And Competition Analysis
CHAPTER 4. Manufacturing Plant Analysis
CHAPTER 5. Battery Raw Materials Market By Material
CHAPTER 6. Battery Raw Materials Market By Li-Ion Battery Material
CHAPTER 7. Battery Raw Materials Market By Li-Ion Battery Material Application
CHAPTER 8. Battery Raw Materials Market By Lead Acid Battery Material
CHAPTER 9. Battery Raw Materials Market By Lead Acid Battery Material Application
CHAPTER 10. Battery Raw Materials Market By Other Batteries Material
CHAPTER 11. North America Battery Raw Materials Market By Country
CHAPTER 12. Europe Battery Raw Materials Market By Country
CHAPTER 13. Asia Pacific Battery Raw Materials Market By Country
CHAPTER 14. Latin America Battery Raw Materials Market By Country
CHAPTER 15. Middle East & Africa Battery Raw Materials Market By Country
CHAPTER 16. Player Analysis Of Battery Raw Materials Market
CHAPTER 17. Company Profile
Key Players:
ITOCHU Corporation, Targray Technology International Inc., Celgard LLC, Umicore S.A., Entek International LLC, 3M, Valence Technology, Inc., BASF Catalysts LLC, and Nichia Corporation.
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