Global Battery Materials Market: Insights and Forecast with Impact of Covid-19 (2021-2026)
The Global Battery Materials Market, valued at USD 66.24 Billion in the year 2020 has been witnessing unprecedented growth in the last few years on the back of a rapid rise in urbanization, growing government support, growing demand of eco-friendly batteries and rising adoption of digitalization in battery manufacture. These factors will drive the Battery Materials Market market value in the near future.
Among the Battery type (Lead Acid Batteries, Lithium-Based Batteries, Others), the Lithium-Based Batteries segment holds the largest share globally and is expected to grow at a fast pace in the forecast period. The need for Lithium-Based Batteries is higher as compared to other battery chemistries, also, Lithium-Based Batteries are widely used in Electric vehicles, portable devices due to the advantages of a lithium-based battery, which will drive the market.
Among the End-User (Industrial, Portable devices, Automotive), Automotive holds a large share in the market globally and is expected to keep growing in the forecast period. It is one of the largest application of batteries material as the demand of battery materials is high in electric vehicles and the rising demand for EVs will keep driving the market in future.
The main growth in Battery Materials Market has been registered from APAC in 2020. The presence of leading battery producers in China, Japan and South Korea and the increasing requirements of batteries in the consumer electronics and automotive sector especially electric vehicles in the region is expected to accelerate major growth in the market.
Scope of the Report
• The report presents the analysis of the Battery Materials Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
• The report analyses the Battery Materials Market by Value.
• The report analyses the Battery Materials Market by the Battery type (Lead Acid Batteries, Lithium-Based Batteries and Other).
• The report analyses the Battery Materials Market by the End User (Industrial, Portable devices, Automotive).
• The Global Battery Materials Market has been analysed By Region (Americas, Europe and Asia Pacific) and By Country (U.S, Canada, UK, Germany, France, Norway, China, Japan, South Korea and India).
• The attractiveness of the market has been presented by Types of nutrients, by Application Method, by Product Type, by region. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Umicore N.V., Nichia Corporation, Ecopro, posco chemical, Asahi Kasei, BASF SE, Targray, BYD, GS Yuasa and CBAK power battery.
• The report analyses the impact of Covid-19 on Battery Materials Market.
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Content Source- Azoth Analytics