Impact of COVID-19: Battery Material Market is estimated to reach USD 90.4 Billion by 2027 at a CAGR of 8.5 %, states forencis research (FSR).
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
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.
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 Segments by Application Portable Electronics, Medical Devices, Power Tools, Power Back up, Electric Vehicles, Military andOthers
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africawith individual country-level analysis.
Key Companies Covered
- BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- NICHIA CORPORATION
- Mitsubishi Chemical Corporation
- LG Chem
- SHOWA DENKO K.K
- Asahi Kasei Corporation
- Other Key Companies
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
- Metallic Cadmium
- Non-woven Polyolefin
- Lead Dioxide
- Metallic Lead
- Dilute Sulfuric Acid
- Metallic Alloys
- Potassium-hydroxide (KOH)
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Lithium Ion Battery Material
- LCO (lithium cobalt oxide)
- LFP (lithium-iron phosphate)
- NCA (lithium nickel cobalt aluminum oxide)
- NCM (lithium nickel cobalt manganese oxide)
- LMO (lithium manganese oxide)
- Pure nickel LNO (lithium nickel oxide) cathodes
- LTO (lithium titanate oxide)
Battery Material Market, by Application
- Portable Electronics
- Medical Devices
- Power Tools
- Power Back up
- Electric Vehicles
Battery Material Market, by Region
- South Korea
- Rest of Asia-Pacific
- The Netherlands
- Rest of Europe
Middle East and Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Rest of South America
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About Forencis Research
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