According to the report published by Fortune Business Insights™, the global battery materials market growth size is predicted to reach USD 83.43 billion by 2026, exhibiting a CAGR of 8.3% during the forecast period. The report titled “Battery Materials Market Size, Share & Industry Analysis, By Battery Type (Lithium-Ion, Lead Acid), By Material (Lithium-Ion {Cathode [LCO, NMC, NCA, LMO, LFP]), Anode [Artificial Graphite, Natural Graphite], Electrolyte, Separator), (Lead Acid {Cathode, Anode, Electrolyte, Separator}), By Application, and Regional Forecast, 2019-2026” explores the market size stood at USD 44.25 billion in 2018. The research report focuses and elaborates on the definition, types, applications, and major players in detail. Deep analysis of battery materials market status, competition pattern, enterprise, advantages and disadvantages of enterprise Products, industry development trends, regional industrial layout characteristics, and macroeconomic policies, industrial policy has also been studied and provided within the synopsis.
The growing demand for lithium-ion and lead-acid batteries will accelerate this market revenue during the forecast period. Lithium-ion batteries are extensively used for high energy density in automotive, industrial, and consumer electronics applications. In addition, the enhanced compatibility and reliability of Li-ion batteries have led to the demand for cathode battery materials, which, in turn, will boost the battery materials market trends in the forthcoming years.
List of Top Companies Profiled in Battery Materials Market Report:
- NICHIA CORPORATION
- NEI Corporation
- TCI Chemicals (India) Pvt. Ltd.
- Targray Technology International
- Mitsubishi Chemical Holdings
- Hitachi Chemical Co., Ltd.
- TORAY INDUSTRIES, INC.
- Shanghai Shanshan Tech Co., Ltd.
- Kureha Corporation
Market Driver:
Stellar Demand for Consumer Electronics to Aid Market Expansion
The growing demand for computers, TVs, mobile phones, and other electronic devices has led to the high production of electronics, which in turn, will spur opportunities for the battery materials market during the forecast period. The increasing technological advancements and surge in the gaming industry will contribute positively to the market share for battery materials in the forthcoming years.
Moreover, the growing demand for smartphones, laptops, smart electronic wearables, digital cameras, and tablets will enable fuel demand for battery materials. In addition, the rising investments by major companies for the development of efficient and batteries will provide impetus to the market. Nonetheless, people’s reliance on smartphones and portable power banks will spur lucrative opportunities for the market in the forthcoming years.
Browse Complete Research Report Summary: https://www.fortunebusinessinsights.com/industry-reports/battery-material-market-101074
Key Points Covered:
- Business Opportunities
- Commerce Challenges
- Demand Insights
- CAGR Values
- Historic Analysis
- Detailed Segmentation
- Top Companies Data
- Market Size
- Supply Trend
- Target Audience
- Key Geographies
Regional Analysis:
High Adoption of Electric Vehicle to Bolster Growth in North America
The market in North America in North America stood at USD 8.4 billion in 2018 and is predicted to grow significantly during the forecast period owing to the high adoption of electric vehicles in the region.
Furthermore, the growing demand for consumer electronics will boost the market in the region. Moreover, the growing investments in renewable and electric vehicle industries will spur sales opportunities for the market in North America. Asia Pacific is predicted to witness high growth during the forecast period owing to the rapid urbanization and industrialization. The increasing consumer spending on electronic goods will aid the market in the Asia Pacific.