Report Overview

Global Battery Materials Market- Industry Trends & Forecast Report 2027

The global battery materials market was worth USD 45.7 billion in 2020 and is further projected to reach USD 73.0 billion by the year 2027, growing at the CAGR of 7.0% in the forecast period. A sudden boom in consumer electronics goods and the proliferation of smartphones have led to significant growth in the market. The advancement of electric vehicles is also expected to drive the global battery materials market.

Source: BlueWeave Consulting

Global Battery Materials Market- Overview

Battery materials are raw materials that are used to manufacture batteries used in electronic goods. The basic component that determines batteries’ capacity and energy is the battery material or the raw material used for manufacturing batteries. Lithium, cobalt, nickel, lead, cadmium, etc., are the most common materials used in batteries. Since the lithium-ion battery has a higher energy density than lead and nickel batteries, it is very popular due to its wide application range.

Global Battery Materials Market Forecast and Trends

Growth Drivers

Increasing Consumer Electronic Goods Production

The electronic manufacturing industry is the world’s fastest-growing industry with increasing demand for electronic goods in various sectors. With the rapid advancement of smartphones, artificial intelligence, and voice recognition technology, electronic consumption is expected to skyrocket. Electronic products are widely used in almost all areas and industries such as homes, communication, defense, manufacturing, etc. As a result, the demand for battery materials is expected to flourish significantly with the increasing dependence on electronic devices in the foreseeable future.

Advancements in Battery Materials

Increasing demand and dependence on electronics have led to an increase in R&D spending by battery manufacturers to improve battery performance for better energy and longer battery life. For example, researchers at the University of Texas have created a lithium-ion battery that does not contain cobalt in its cathode. Nickel and manganese are currently used in significant concentrations, whereas aluminum is used for the remaining elements. The researchers hope that by developing this technology, they will be able to improve battery life and even ion dispersion while also lowering costs.

Restraints

Risks Associated with Battery Materials

Because batteries are made of toxic, corrosive materials, they are classified as hazardous waste. Lithium, cobalt, nickel, aluminum, manganese, and other very toxic metals are used in manufacturing battery materials. High levels of exposure to these compounds can cause skin, eye, and nose irritation, as well as asthma-like reactions. The most popular battery material, lithium, is extremely dangerous, particularly if the battery's shell is destroyed and the lithium is exposed to air/moisture. Such risks impede the growth of the global battery materials market.

Impact of COVID-19 on Global Battery Materials Market

The sudden outbreak of the COVID-19-induced pandemic significantly impacted the global battery materials market. The manufacturing and production operations of consumer electronic goods and automobiles were completely halted and the distribution system was obstructed. This resulted in a sharp decline in the demand for battery materials for the end-user industry. The lockdown and the social distancing measures also negatively affected the battery materials industry by hindering its operations. However, the market is expected to recover soon in the post-COVID-19 period.

Global Battery Materials Market - By Material

Based on material, the global battery materials market is segmented into Li-ion battery material and lead-acid battery material. The li-ion or lithium-ion battery accounts for the largest market share as they are commonly used in portable electronics and electric vehicles. This material type offers better battery life and high energy density which is why it is preferred over other materials. Its use in electric vehicles is one of the major influencing factors for the growth of the market as the automotive industry is increasingly focusing on expanding production operations.

Global Battery Materials Market - By Application

Based on application, the global battery materials market is segmented into portable devices, electric vehicles, industrial, automotive, industrial, and others. The Li-ion battery material is prominently used in portable devices, electric vehicles, and industrial applications. The portable device segment accounts for the largest market share because of the increasing dependence on electronic products for daily activities and growing smartphone penetration in the market. The expanding manufacturing activities and increasing purchasing power are also influencing the growth of the battery materials market.

Global Battery Materials Market - Regional Insights

Geographically, the global battery materials market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the market because of the increasing penetration of consumer goods and electric vehicle manufacturing. Furthermore, various government initiatives for promoting renewable energy sources like offering tax rebates, etc., are also influencing the market. However, the Asia-Pacific region is emerging as a potential market for battery materials with flourishing manufacturing industry in consumer goods production and increasing foreign direct investment in countries like China, India, etc.

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global battery materials market are BASF, Umicore, Dow Chemical, POSCO, Mitsubishi Chemical Corporation, Showa Denko, Johnson Matthey, Mitsui Mining & Smelting Company, Hitachi Chemical, Toray, Sumitomo Corporation, Kureha Corporation, Asahi Kasei Corporation, Shanshan Technology, Nei Corporation, Tanaka Chemicals, Zhangjiagang Guotai Huarong Chemical New Material, L&F, Nexeon Limited, and other prominent players.

The market is fragmented, with the presence of several global and regional market players. The industry players focus on manufacturing high-power battery materials with lower cost and longer life. They also invest significantly in R&D activities. Furthermore, the adoption of competitive strategies like mergers, acquisitions, collaborations, etc., is also very prominent in the market.

Recent Developments

• In August 2021, Group14 technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, and Inobat Auto, a European R&D manufacturing company, announced their partnership for the custom manufacturing of high energy density batteries for automotive applications.
• In August 2021, Li-Cycle Holdings Corp, a lithium-ion battery resource recovery and lithium-ion battery recycler, announced its business combination with Peridot Acquisition Corp.

Scope of the Report

By Material

1. Li-ion Battery Material

• Cathode Material
• Anode Material
• Electrolyte Material
• Separator Material
• Other Materials

1. Lead-acid Battery Material

• Cathode Material
• Anode Material
• Electrolyte Material
• Separator Material
• Other Materials

By Application

1. Li-ion Battery

• Portable Devices
• Electric Vehicles
• Industrial
• Others

Lead-acid Battery

• Automotive
• Industrial
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Consumer Electronic Goods Production
         2. Advancements In Battery Materials
      2. Market Restraints
         1. Hazards of Battery Materials
      3. Market Challenges
         1. Stringent Regulations Regarding Battery Materials
      4. Market Opportunity
         1. Increasing Penetration Of Smart Devices
         2. Expanding Electronic Manufacturing Industry
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Global Battery Materials Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By Material
         1. Li-ion Battery Material
            1. Cathode Material
            2. Anode Material
            3. Electrolyte Material
            4. Separator Material
            5. Other Materials
         2. Lead-acid Battery Material
            1. Cathode Material
            2. Anode Material
            3. Electrolyte Material
            4. Separator Material
            5. Other Materials
      2. By Application
         1. Li-ion Battery
            1. Portable Devices
            2. Electric Vehicles
            3. Industrial
            4. Others
         2. Lead-acid Battery
            1. Automotive
            2. Industrial
         3. Others
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Battery Materials Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By Material
      2. By Application
      3. By Country
         1. U.S.
         2. Canada
7. Europe Battery Materials Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By Material
      2. By Application
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Battery Materials Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By Material
      2. By Application
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Battery Materials Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By Material
      2. By Application
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Battery Materials Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Material
    4. By Application
    5. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
12. Impact of COVID-19 on Global Battery Materials Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. BASF
    2. Umicore
    3. DOW Chemical
    4. POSCO
    5. Mitsubishi Chemical Corporation
    6. Showa Denko
    7. Johnson Matthey
    8. Mitsui Mining & Smelting Company
    9. Hitachi Chemical
    10. Toray
    11. Sumitomo Corporation
    12. Kureha Corporation
    13. Asahi Kasei Corporation
    14. Shanshan Technology
    15. Nei Corporation
    16. Tanaka Chemicals
    17. Zhangjiagang Guotai Huarong Chemical New Material
    18. L&F
    19. Nexeon Limited
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Global Battery Materials Market Segmentation

Figure 2: Global Battery Materials Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 5: Global Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 6: Global Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 7: Global Battery Materials Market Share (%), By Region, By Value, 2017-2027

Figure 8: North America Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 9: North America Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 10: North America Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 11: North America Battery Materials Market Share (%), By Country, By Value, 2017-2027

Figure 12: Europe Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 13: Europe Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 14: Europe Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 15: Europe Battery Materials Market Share (%), By Country, By Value, 2017-2027

Figure 16: the Asia-Pacific Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 17: the Asia-Pacific Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 18: the Asia-Pacific Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 19: Asia-Pacific Battery Materials Market Share (%), By Country, By Value, 2017-2027

Figure 20: Latin America Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 21: Latin America Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 22: Latin America Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 23: Latin America Battery Materials Market Share (%), By Country, By Value, 2017-2027

Figure 24: Middle East & Africa Battery Materials Market Size, By Value (USD Billion), 2017-2027

Figure 25: Middle East & Africa Battery Materials Market Share (%), By Material, By Value, 2017-2027

Figure 26: Middle East & Africa Battery Materials Market Share (%), By Application, By Value, 2017-2027

Figure 27: Middle East & Africa Battery Materials Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global Battery Materials Market Size, By Material, By Value, 2017-2027

Table 2: Global Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 3: Global Battery Materials Market Size, By Region, By Value (USD Billion), 2017-2027

Table 4: North America Battery Materials Market Size, By Material, By Value (USD Billion), 2017-2027

Table 5: North America Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 6: North America Battery Materials Market Size, By Country, By Value (USD Billion), 2017-2027

Table 7: Europe Battery Materials Market Size, By Material, By Value (USD Billion), 2017-2027

Table 8: Europe Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 9: Europe Battery Materials Market Size, By Country, By Value (USD Billion), 2017-2027

Table 10: the Asia-Pacific Battery Materials Market Size, By Material, By Value (USD Billion), 2017-2027

Table 11: the Asia-Pacific Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 12: the Asia-Pacific Battery Materials Market Size, By Country, By Value (USD Billion), 2017-2027

Table 13: Latin America Battery Materials Market Size, By Material, By Value (USD Billion), 2017-2027

Table 14: Latin America Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 15: Latin America Battery Materials Market Size, By Country, By Value (USD Billion), 2017-2027

Table 16: The Middle-East & Africa Battery Materials Market Size, By Material, By Value (USD Billion), 2017-2027

Table 17: The Middle-East & Africa Battery Materials Market Size, By Application, By Value (USD Billion), 2017-2027

Table 18: The Middle-East & Africa Battery Materials Market Size, By Country, By Value (USD Billion), 2017-2027

Table 19: BASF Financial Analysis

Table 20: BASF Business Overview

Table 21: Umicore Financial Analysis

Table 22: Umicore Business Overview

Table 23: DOW Chemical Corporation Financial Analysis

Table 24: DOW Chemical Corporation Business Overview

Table 25: POSCO Financial Analysis

Table 26: POSCO Business Overview

Table 27: Mitsubishi Chemical Corporation Financial Analysis

Table 28: Mitsubishi Chemical Corporation Business Overview

Table 29: Showa Denko Financial Analysis

Table 30: Showa Denko Business Overview

Table 31: Johnson Matthey Financial Analysis

Table 32: Johnson Matthey Business Overview

Table 33: Mitsui Mining & Smelting Company Financial Analysis

Table 34: Mitsui Mining & Smelting Company Business Overview

Table 35: Hitachi Chemical Financial Analysis

Table 36: Hitachi Chemical Business Overview

Table 37: Toray Financial Analysis

Table 38: Toray Business Overview

Table 39: Sumitomo Corporation Financial Analysis

Table 40: Sumitomo Corporation Financial Analysis

Table 41: Kureha Corporation Financial Analysis

Table 42: Kureha Corporation Financial Analysis

Table 43: Asahi Kasei Corporation Financial Analysis

Table 44: Asahi Kasei Corporation Financial Analysis

Table 45: Shanshan Technology Financial Analysis

Table 46: Shanshan Technology Financial Analysis

Table 47: Nei Corporation Financial Analysis

Table 48: Nei Corporation Financial Analysis

Table 49: Tanaka Chemicals Financial Analysis

Table 50: Tanaka Chemicals Financial Analysis

Table 51: Zhangjiagang Guotai Huarong Chemical New Material Financial Analysis

Table 52: Zhangjiagang Guotai Huarong Chemical New Material Financial Analysis

Table 53: L&F Financial Analysis

Table 54: L&F Financial Analysis

Table 55: Nexeon Limited Financial Analysis

Table 56: Nexeon Limited Financial Analysis