Battery Materials Market Size to Reach USD 83.43 Billion by 2026; Growing Demand for Lithium-ion Batteries to Propel Market, States Fortune Business Insights™

Battery Materials Market Size to Reach USD 83.43 Billion by 2026; Growing Demand for Lithium-ion Batteries to Propel Market, States Fortune Business Insights™

PR Newswire

PUNE, India, April 29, 2020

- Key companies covered are 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, among others

PUNE, India, April 29, 2020 /PRNewswire/ -- The global battery materials market size is predicted to reach USD 83.43 billion by 2026, exhibiting a CAGR of 8.3% during the forecast period. 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.

Battery Materials Market Analysis, Insights and Forecast – By Battery Type, 2015-2026

According to report, published by Fortune Business Insights in a 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" the market size stood at USD 44.25 billion in 2018. The market 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.

Worldwide COVID-19 Impact Analysis:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors, and potential shareholders along with venture capitalists establish a bird's eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivaled data in a well-organized manner.

List of Key Companies Operating in the Battery Materials Market are

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.


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https://www.fortunebusinessinsights.com/industry-reports/battery-material-market-101074

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.

Regional Analysis:

High Adoption of Electric Vehicle to Bolster Growth in North America

The market 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.

Key Development:

February 2020: BASF announced opening a new battery material manufacturing facility plant in Schwarzheide, Germany to enlarge the European electric vehicle value chain. The production hub will produce CAM (cathode active materials) with capacity allowing approximately 400,000 fully electric vehicles supply per year with BASF's battery materials.

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Detailed Table of Content:

TOC Continued…!


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Battery Management System Market Size, Share and Global Trend By Type (Centralized, Distributed, Modular), By Battery Type (Lithium-ion Battery, Lead-Acid Battery, Nickel Battery, Flow Battery, Others), By Application (Automotive, Energy Storage, Consumer Electronics, Renewables, Telecom, Healthcare, Military & Defence, Others) and Geography Forecast till 2026

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