Battery Raw Materials Market Key Players, Size, Trends, Opportunities and growth Analysis
The Battery Raw Materials market is expected to reach USD 84.40 Billion by 2026, according to a new report by Reports and Data. With growing sustainability trends, electric vehicles have been endeavouring a positive growth trend due to increasing demand for lithium-ion batteries. Lead-acid batteries were earlier used as a backup in electric vehicles but now are substituted with the former one associated with lower charging capabilities and legal controversies regarding the lead-acid batteries. The self-sustainability of battery raw materials is a crucial factor that is propelling the global market. The supplies of raw materials needed for manufacturing batteries such as manganese, natural graphite, and nickel are extremely concentrated in a few countries.
The most prevalent types of batteries available in the
market are Lead-Acid, Lithium-ion (Li-ion), Nickel-Metal Hydride (Ni-MH),
Nickel Cadmium (Ni-Cd), and others. Several Battery Raw Materials present
different performance characteristics to the batteries, and they are chosen
based on the type and application of the battery.
The market in the APAC region is expected to witness
the highest CAGR of 8.5% during the forecast period. With the productive
government schemes for electric vehicles adoption, the region is expected to
grow the manufacturing of EV in the countries of Asia-Pacific, and thus, in
turn, is anticipated to fuel the market for Battery Raw Materials in the
automotive industry in the region. For example, the Indian government has
signed USD 1,445 million for the phase two of FAME India (Faster Adoption and
Manufacturing of Electric Vehicles in India) policy on 1 March 2019, to
encourage the use of electric vehicles in the country. Moreover, accelerated
industrialization in the region is adding to the product’s market growth.
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Key companies profiled in the report are:
· Toray
Industries
· Umicore
· Asahi
Kasei
· Mitsubishi
Chemical
· Henan
Yuguang
· Glencore
· Nyrstar
· Sumitomo
Metal Mining
· Hitachi
Chemical
· POSCO
· Johnson
Matthey.
Further key findings from the report
suggest
·
The Battery Raw
Materials Market is estimated to reach USD 84.40 Billion by 2026, at a CAGR of
8.3% during the forecast period.
·
The Lead-acid
product accounts for a larger share of 59.7% of the market in 2018.
·
The metal
material is anticipated to grow at the highest rate of 8.4% during the forecast
period.
·
The automotive
application segment is anticipated to grow at the highest rate of 8.5% during
the forecast period.
·
The secondary
battery type is anticipated to grow at a higher rate of 8.6% during the
forecast period.
·
North America
region accounts for a share of 21.3% of the market in 2018.
·
Various players
are developing strategies to mark their presence in the industry.
·
For example,
GEM, a Chinese Battery Raw Materials producer, has acknowledged an MOU with
ECOPRO (South Korea) on 4 January 2019, to supply 170tk of
nickel-cobalt-aluminum oxide (NCA) over the next five years. The deal involves
the supply of 16kt in 2019, expanding to 24kt in 2020 and 40kt in 2021.
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Segments covered in the report:
Product Outlook
- Lead-acid
- Lithium-ion
Material Outlook
- Metals
- Chemical
- Others
Application Outlook
- EVs
- Automotive Batteries
- Portable Devices
- Industrial
- Other
Battery Type Outlook
- Primary Battery
- Secondary Battery
Regional Outlook
·
North America
·
Europe
·
Asia Pacific
·
MEA
·
Latin America
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