Summary

The global battery material market size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. The market has a promising growth potential due to several factors such as increasing demand for sustainable vehicles and energy storage system, portable devices, and electronics product.

“The lithium ion type battery is expected to register the highest CAGR of the overall battery materials market during the forecast period, in terms of value.”
Lithium ion batteries are used in the Evs, portable device, and electronics product. For many years China has been the top EVs manufacturers and consumer. The country’s top position in the Evs and portable devices has helped Asia Pacific gain a significant share in the global battery materials market. Growing economy, such as India, China, and Indonesia are also actively engaged in EVs and electronics product production that have boost the demand for battery materials. This scenario is expected to continue during the forecast period.

“The electric vehicle application is projected to register the highest CAGR during the forecast period.”
Electric vehicle is the market driver in this segment globally. Growth in applications, including electric vehicles, portable device, and electronics product. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, South Korea, Japan, and Indonesia. Global battery material manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.

Asia - Pacific battery materials market is projected to register the largest market share during the forecast period.

Asia Pacific is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in this region. Most of the leading players in North America and Europe are planning to shift their manufacturing base to Asia Pacific as it offers inexpensive raw materials, low cost of production, and the ability to serve the local emerging market in a better way. The Asia Pacific region is experiencing robust demand for electric vehicle, electronics product, stationary energy storage system, and portable device. This has led to an increased demand for battery material in the Asia Pacific market.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the battery materials market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.

• By Company Type: Tier 1 –41 %, Tier 2 – 37%, and Tier 3 – 22 %
• By Designation: C Level – 21%, D Level – 23%, and Others – 56%
• By Region: Europe – 23%, North America – 37%, APAC – 26%, South America- 4%, and the Middle East & Africa – 10%

The key companies profiled in this report are Umicore (Belgium), Asahi Kasei (Japan), Mitsubishi chemical holdings (Japan), Posco (South Korea), and Johnson Matthey (UK).

Research Coverage:
This report provides detailed segmentation of the battery materials market based on battery type, material, application and region. Based on battery type, battery industry has been segmented into lead-acid and lithium ion. Based on material, the market has been segmented into cathode, anode and electrolyte. Based on application market has been segmented into Portable device, Evs, industrial, Automotive and others. Based on region, the market has been segmented into Asia Pacific, Europe, North America, and RoW.

Key Benefits of Buying the Report
From an insights perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high-growth regions; and market drivers, restraints, opportunities, and challenges.