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The Business Research Company's Battery Materials Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The battery materials market has experienced robust growth in recent years, expanding from $57.63 billion in 2023 to $64.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to growth in portable electronics, advancements in energy storage, consumer demand for longer battery life, renewable energy integration, government initiatives and subsidies, demand for lightweight materials, research and development funding.

What Is The Estimated Market Size Of The Global Battery Materials Market And Its Annual Growth Rate?
The battery materials market is projected to continue its strong growth, reaching $99.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to transition to solid-state batteries, advancements in lithium-sulfur batteries, demand for low-cost materials, expansion of energy storage systems, material innovations for high temperatures, global efforts for carbon neutrality.

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Growth Driver Of The Battery Materials Market
The rising demand for consumer electronics is expected to propel the growth of the battery materials market going forward. Consumer electronics refer to a category of electronic devices and gadgets that are designed for everyday use by individuals for entertainment, communication, productivity, and convenience. Battery materials are used in consumer electronics because they enable these devices to operate wirelessly and provide portable, convenient, reliable, and energy-efficient power sources.

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Who Are The Key Players Shaping The Battery Materials Market Trends?
Key players in the market include 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.

What Are The Dominant Trends In Battery Materials Market Growth?
Major companies operating in the battery materials market are developing innovative products, such as set of cathode active materials, that are specifically designed for light and medium electric vehicles. These cathode active materials are manganese-rich and cobalt-free, which makes them more cost-effective and environmentally friendly than traditional cathode materials.

How Is The Global Battery Materials Market Segmented?
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

Geographical Insights: Asia-Pacific Leading The Battery Materials Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Battery Materials Market Definition
Battery materials refer to the raw materials found in cell electrodes, electrolytes, and separators that are made up of various metals and chemical components.

Battery Materials Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global battery materials market report covering trends, opportunities, strategies, and more
The Battery Materials Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on battery materials market size, battery materials market drivers and trends, battery materials market major players and battery materials market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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