Covid19:Battery Material Market is estimated to reach USD 90.4 Billion by 2027

Battery Material Market: Summary

The Global Battery Material Market is estimated to reach USD 90.4 Billion by 2027 at a CAGR of 8.5 %, states forencis research (FSR).

Battery is referred as device which is designed to provide energy through movement of electrons within a circuit. These flow of electrons is mainly depending on the materials used a cathode, anode or electrolyte in the battery. Battery materials are the materials that carry out reduction and oxidation leading to energy storage or generation. These can be metal or nonmetals or even alloys that focuses on optimizing the overall efficiency of the battery.

Battery Material Market: Drivers & Restraints

Market Drivers:

Rise in Demand for Electric Vehicle

The demand for electric vehicles is escalating since few years and is expected to continue the trend in the years to follow. Electric vehicle is gaining more interest owing to higher environmental concerns all over the globe. These electrically driven vehicles are technological advanced, and emits lower Volatile Organic Compounds (VOCs), and possess higher efficiency. In addition to this, favorable government support towards electric vehicles from the developed and emerging nations to minimize the overall hazardous emission leading to climate change is pushing the demand for electric vehicles.

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Growing Adoption of Smart Devices

Higher penetration of the internet across the globe is escalating demand for the smart devices. With growing demand for smart device, there exist more need for lithium battery, which further boost the overall market growth. Increasing technology friendly population, higher internet access with increasing technological advancement leading to emergence of more advanced smart devices is pushing the market growth higher. Higher consumer awareness towards wearable smart devices, is further increasing adoption of the portable batteries, which is anticipated to push the market growth higher.

Market Restraints:

Strict Legislation for Transportation of Battery

Lithium batteries are need for the future, owing increase shift towards portable devices. Hence, the shipment of these batteries are required with higher safety. Transportation of these Li-ion batteries is under strict supervision as batteries contains hazardous, and toxic to living organism. To govern this, certain regulation has been imposed subject to specific packaging, marking, labeling. Packing instructions for air transport of lithium batteries globally is revised under the International Civil Aviation Organization (ICAO), which prohibits transport of the lithium ion batteries as cargo on passenger aircraft.

Such restrictions on the battery transport is projected to hamper the overall market growth.

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Battery Material Market: Key Segments

  • Key Segments by Material: Lithium-ion(Li-ion), Nickel Cadmium(Ni-Cd), Nickel-Metal Hydride(Ni-MH), Lead-Acid andOthers

Key Companies Covered

  • BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)

Battery Material Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Battery Material Market, by Material

Nickel Cadmium (Ni-Cd)

  • Nickel Oxide Hydroxide

Lead acid

  • Lead Dioxide

Nickel-Metal Hydride(Ni-MH)

  • Nickel-hydroxide

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Lithium Ion Battery Material

Cathode

  • LCO (lithium cobalt oxide)

Anode

  • Carbon

Seperator

  • Polyolefin

Battery Material Market, by Application

  • Portable Electronics

Battery Material Market, by Region

Asia-Pacific

  • China

North America

  • US

Europe

  • Germany

Middle East and Africa

  • Saudi Arabia

South America

  • Brazil

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About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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