Battery Materials Global Market Report 2024

Description

Battery Materials Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on battery materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for battery materials? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The battery materials market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Cathode; Anode; Electrolyte; Separator; Other Types
2) By Battery Type: Lithium Ion; Lead Acid; Other Battery Type
3) By Application: Automobile Industry; Household Appliances; Electronics Industry; Other Application
Companies Mentioned: Asahi Kasei Corporation; BASF SE; Mitsubishi Chemical Holdings Corporation; Sumitomo Corporation; Umicore NV
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Battery materials encompass the fundamental elements present in cell electrodes, electrolytes, and separators, comprising diverse metals and chemical constituents.

The primary categories of battery materials include cathode, anode, electrolyte, separator, and other variants. A cathode denotes a metallic electrode facilitating the flow of current in a polarized electrical device. Battery varieties encompass lithium-ion, lead-acid, and additional types, finding application in the automotive sector, household appliances, the electronics industry, and various other fields.

The battery materials market research report is one of a series of new reports from The Business Research Company that provides battery materials market statistics, including the battery materials industry global market size, regional shares, competitors with a battery materials market share, detailed battery materials market segments, market trends and opportunities, and any further data you may need to thrive in the battery materials industry. This battery materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The battery materials market size has grown rapidly in recent years. It will grow from $57.63 billion in 2023 to $64.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The expansion observed during the historical period can be attributed to the rise of portable electronics, progress in energy storage technologies, increased consumer expectations for extended battery life, integration of renewable energy sources, government initiatives and subsidies, a demand for lightweight materials, and substantial research and development funding.

The battery materials market size is expected to see rapid growth in the next few years. It will grow to $99.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth in the forecast period can be ascribed to the shift towards solid-state batteries, progress in lithium-sulfur battery technology, the need for cost-effective materials, the expansion of energy storage systems, innovations in materials suitable for high temperatures, and worldwide initiatives for achieving carbon neutrality. Key trends in the forecast period involve the reduction of cobalt and exploration of alternative chemistries, advancements in anode materials, the recycling of battery materials, the emergence of new markets for energy storage, and increased investments in the exploration and mining of raw materials.

The escalating uptake of electric vehicles is anticipated to drive the expansion of the battery materials market in the foreseeable future. Electric vehicles, which operate on electric motors rather than internal combustion engines, rely on robust traction battery packs. These vehicles necessitate specific materials ensuring high energy density, minimal self-discharge rates, reduced maintenance, and increased charge cycles. Notably, the International Energy Agency's report in April 2021 revealed a surge in global electric vehicle sales, reaching 10 million units in 2020, marking a 43% increase from the previous year, with approximately 3 million new electric vehicle registrations. This surge in electric vehicle adoption significantly fuels the growth of the battery materials market.

The burgeoning demand for consumer electronics is poised to be a key driver for the battery materials market's growth moving forward. Consumer electronics encompass a broad range of electronic devices catering to individual everyday use for entertainment, communication, productivity, and convenience. These devices heavily rely on battery materials to enable wireless operation and deliver portable, reliable, and energy-efficient power sources. Noteworthy is LG's annual financial report in January 2023, indicating unprecedented revenue growth, exceeding $60 billion for the first time in company history in 2022. The sales increase of 12.9% from 2021, reaching approximately $52.70 billion, and the Home Appliance & Air Solution Company's record revenue of $22.5 billion in 2022, up by 10.3% from the previous year, underscore the surging demand for consumer electronics, thereby propelling the battery materials market growth.

Technological advancements stand out as a prominent trend shaping the landscape of the battery materials market. Key industry players are actively introducing novel technologies to fortify their market position. A case in point is Sila Nanotechnologies Inc., a German-based battery materials company specializing in lithium-ion batteries. In September 2021, the company unveiled Whoop 4.0, a compact fitness tracker powered by innovative silicon anode battery technology. This groundbreaking technology promises enhanced energy density while preserving other performance metrics. By replacing conventional graphite anodes, this battery technology heralds a new era in energy storage solutions, exemplifying the evolving trends in the battery materials market.

Leading entities within the battery materials market are actively innovating to create tailored solutions, such as a series of cathode active materials specially crafted for light and medium electric vehicles. These innovative materials boast a manganese-rich and cobalt-free composition, positioning them as more cost-effective and environmentally sustainable alternatives to conventional cathode materials. Notably, in February 2023, Stratus Materials Inc., a US-based battery materials developer and manufacturer, introduced a set of these cathode active materials specifically engineered for light and medium electric vehicles. Distinguished by their heightened energy density, these materials possess the ability to store more energy per unit weight, a critical feature for electric vehicles requiring extended ranges and swift charging capabilities. Furthermore, their composition underscores a manganese-rich, cobalt-free nature, delivering superior energy density, prolonged cycle life, enhanced stability, cost efficiency, sustainability, and scalability.

In a significant move in May 2022, EV Metals, an Australia-based battery materials manufacturer and technology firm, successfully acquired Johnson Matthey's Battery Materials division for a total of $56.7 million. This strategic acquisition is anticipated to complement EV Metals' existing product portfolio and significantly bolster the company's capacity to supply high-purity chemicals and cathode active materials (CAM) within the market. Johnson Matthey, a UK-based pioneer in rechargeable lithium-ion batteries and battery materials, aligns with EV Metals' expansion strategy, fortifying its position as a prominent provider of advanced battery materials and technology solutions.

Major companies operating in the battery materials market report are Asahi Kasei Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sumitomo Corporation, Umicore NV, Albemarle Corporation, Livent Corporation, Nichia Corporation, Toray Industries Inc., POSCO Holdings Inc., Showa Denko KK, Hitachi Chemical Company Limited, China Molybdenum Company Limited, Ganfeng Lithium Co. Ltd., MMC Norilsk Nickel PJSC, Ningbo Shanshan Company Limited, Saudi Basic Industries Corporation (SABIC), Ensinger Group, DIC Corporation, Celanese Corporation, Johnson Matthey PLC, Lanxess AG, Glencore PLC, Norilsk Nickel, Panasonic Holdings Corporation, NEC Corporation, LG Chem, Toshiba Corporation, Amperex Technology Limited, BAK Group

Asia-Pacific was the largest region in the battery materials market in 2023. The regions covered in the battery materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the battery materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The battery materials market consists of sales of materials for primary batteries, and secondary batteries. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12505

1. Executive Summary

2. Battery Materials Market Characteristics

3. Battery Materials Market Trends And Strategies

4. Battery Materials Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Battery Materials Market Size and Growth

5.1. Global Battery Materials Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Battery Materials Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Battery Materials Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Battery Materials Market Segmentation

6.1. Global Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cathode
Anode
Electrolyte
Separator
Other Types
6.2. Global Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Lithium Ion
Lead Acid
Other Battery Type
6.3. Global Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automobile Industry
Household Appliances
Electronics Industry
Other Application

7. Battery Materials Market Regional And Country Analysis

7.1. Global Battery Materials Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Battery Materials Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Battery Materials Market

8.1. Asia-Pacific Battery Materials Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Battery Materials Market

9.1. China Battery Materials Market Overview
9.2. China Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Battery Materials Market

10.1. India Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Battery Materials Market

11.1. Japan Battery Materials Market Overview
11.2. Japan Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Battery Materials Market

12.1. Australia Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Battery Materials Market

13.1. Indonesia Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Battery Materials Market

14.1. South Korea Battery Materials Market Overview
14.2. South Korea Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Battery Materials Market

15.1. Western Europe Battery Materials Market Overview
15.2. Western Europe Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Battery Materials Market

16.1. UK Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Battery Materials Market

17.1. Germany Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Battery Materials Market

18.1. France Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Battery Materials Market

19.1. Italy Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Battery Materials Market

20.1. Spain Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Battery Materials Market

21.1. Eastern Europe Battery Materials Market Overview
21.2. Eastern Europe Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Battery Materials Market

22.1. Russia Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Battery Materials Market

23.1. North America Battery Materials Market Overview
23.2. North America Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Battery Materials Market

24.1. USA Battery Materials Market Overview
24.2. USA Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Battery Materials Market

25.1. Canada Battery Materials Market Overview
25.2. Canada Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Battery Materials Market

26.1. South America Battery Materials Market Overview
26.2. South America Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Battery Materials Market

27.1. Brazil Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Battery Materials Market

28.1. Middle East Battery Materials Market Overview
28.2. Middle East Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Battery Materials Market

29.1. Africa Battery Materials Market Overview
29.2. Africa Battery Materials Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Battery Materials Market, Segmentation By Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Battery Materials Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Battery Materials Market Competitive Landscape And Company Profiles

30.1. Battery Materials Market Competitive Landscape
30.2. Battery Materials Market Company Profiles
- 30.2.1. Asahi Kasei Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. BASF SE
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Mitsubishi Chemical Holdings Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Sumitomo Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Umicore NV
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Battery Materials Market Competitive Benchmarking

32. Global Battery Materials Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Battery Materials Market

34. Battery Materials Market Future Outlook and Potential Analysis

34.1 Battery Materials Market In 2028 - Countries Offering Most New Opportunities
34.2 Battery Materials Market In 2028 - Segments Offering Most New Opportunities
34.3 Battery Materials Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer