Market Overview:
Battery materials are essential components used in
manufacturing primary and secondary batteries. These batteries, in turn, have
major applications in end-use industries such as automobiles, electronics,
electrical grids, and power storages. Batteries have much lower specific energy
than common fuels such as gasoline.
Some of the prominent factors that positively influence the
growth of the battery materials market are increasing demand for batteries from
automobile industries, rising demand for electronic gadgets, and increasing
urbanization. Increasing urbanization along with rising per capita disposable
income in developed and emerging economies are predicted to drive the growth of
the market over the forecast period, 2017 to 2023. Additionally, high adoption
rate along with the increasing number of power plants to meet the energy
requirement for the ever-growing population is driving the market. Moreover,
continuous expansion of automotive sector as well as shifting the focus of the
manufacturers towards gasoline free transport by adopting electric vehicles run
by batteries is estimated to fuel the growth of the market during the review
period, 2017 to 2023. However, growing environmental concern regarding the
toxic effect of chemicals used in battery materials along with the
implementation of strict regulations is predicted to hinder the market growth
over the assessment period, 2017 to 2023.
Regional Analysis
Asia Pacific is estimated to be the largest battery
materials market followed by North America and Europe due to the strong
existence of battery materials manufacturers coupled with the highest number of
millennial population. In Europe, Germany, Russia, and Spain are predicted to
register a strong growth on account of tremendous demand for battery materials
in battery manufacturing for the automobiles. In Asia Pacific, countries such
as China, India, and South Korea are the fastest growing market for battery
materials and is estimated to grow at the same pace over the forecast period.
Improving living standards along with the flourishing growth of electronics
industry is predicted to contribute to the regional market growth. In North
America, the market is expected to grow to moderate CAGR owing to the presence
of high innovation and technology in battery materials manufacturing. In Latin
America, Mexico is expected to register strong growth due to the robust
presence of automobile manufacturers.
Segmentation
The global battery materials market is categorized on the
basis of type, application, end use industry, and region. On the basis of the
type, the market is bifurcated into cathode, anode, electrolyte, separator,
binders, packaging material. On the basis of the application, the battery
materials market is categorized into primary batteries, secondary batteries,
and others. On the basis of the end use industry, the market is segmented into
electronics, automobiles, power storages, and others. On the basis of the
region, the market is categorized into Asia Pacific, Europe, Latin America,
North America, and the Middle East & Africa.
Key Players
Some of the prominent players operating in the global
battery materials market are 3M Company (U.S.), BASF SE (Germany), ENTEK
International LLC (U.K), Ecopro Co., Ltd. (South Korea), Hitachi Chemical
Company, Ltd. (Japan), E. I. du Pont de Nemours and Company (U.S.), Celgard,
LLC (U.S.), The Dow Chemical Company (U.S.), Mitsubishi Chemical Corporation
(Japanese), Solvay S.A. (Belgium) and Nippon Denko Co., Ltd. (Japan) among
others.
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