The global market for battery raw material market was valued at 54.1 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% over the course of the forecast period. The market is expanding as a result of rising demand for lithium-ion batteries brought on by the growing number of electric vehicles.

It is anticipated that growing use of renewable energy sources, such as solar and wind, will fuel market demand. The market is expanding as a result of the rise in portable electronics like laptops and smartphones.

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Growth Drivers

Stricter laws governing the safe handling of dangerous materials in mining, industry, and human health transportation. The industry is expanding considerably due to the growing demand for lithium-ion batteries brought on by the growing number of electric vehicles. Due to their hazardous nature, lithium batteries present safety issues. Regulations, however, help emerging economies ensure the safe use, transportation, and disposal of batteries containing lithium. Battery production is being driven by tax breaks and subsidies for EV adoption.

Research into alternative materials, such as sodium-ion and lithium-sulfur batteries, is reducing reliance on scarce materials, and the demand for high performance batteries is being sustained by the rise of smartphones, laptops, and Internet of Things devices, as well as advancements in solid-state batteries and next-generation lithium-ion, which are increasing battery efficiency.

Segmentation

Battery Type

·         Lithium Ion

·         Lead Acid

·         Other Batteries

Battery Material Type

·         Lithium Ion

o   Cathode Materials

§  Lithium Cobalt Oxide (LCO)

§  Lithium Nickel Manganese Cobalt Oxide (NMC)

§  Lithium Iron Phosphate (LFP)

§  Lithium Manganese Oxide (LMO)

§  Lithium Nickel Cobalt Aluminum (NCA)

·         Anode Materials

§  Natural Graphite

§  Artificial Graphite

§  Amorphous Carbon

§  LTO

§  Si Compounds

o   Separator

o   Others

·         Lead Acid

o   Electrodes

o   Electrolyte

o   Separator

o   Packaging

·         Other Batteries

Application

·         Lithium Ion

o   Consumer electronics

o   Automotive

o   Grid storage

o   Others

·         Lead Acid

o   Automotive

o   UPS

o   Telecom

o   Others

·         Other Batteries

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Targray

·         ENTEK

·         BASF Catalysts LLC

·         DuPont

·         Hitachi, Ltd.

·         Nichia Corporation

·         Mitsubishi Chemical Group Corporation

·         Celgard LLC

·         Umicore N.V.

·         NEI Corporation

·         Other Players

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