Battery Materials Market worth $120.4 billion by 2027 – At a CAGR of 15.8%

According to a market research report, the “Battery Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Cathode, Anode, Electrolyte), Application (Automotive, EV, Portable devices, industrial), and Region (Aisa Pacific, North America, Europe, RoW) – Global Forecast to 2027”, size is estimated to be USD 57.8 billion in 2022 and is projected to grow at a CAGR of 15.8% during the forecast period to reach USD 120.4 billion by 2027. Battery materials are substances used in the construction of batteries, including anodes, cathodes, and electrolytes, that enable the storage and conversion of chemical energy into electrical energy for various applications. These materials are essential for determining battery performance and efficiency. Increasing EVs, portable device, stationary applications, and electronics products demand are the major growth drivers of the global battery materials market.


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309 Market data Tables

68 Figures

287 Pages and in-depth TOC on “Battery Materials Market – Global Forecast to 2027”

This report also provides a comprehensive analysis of the companies listed below:


The major Players in battery materials market including Umicore, Asahi Kasei Corporation, Mitsubishi Chemical Holdings, POSCO, and Johnson Matthey have adopted several growth strategies between 2018 and 2022 (April) to expand their global presence and increase their market shares. New product launches/developments, mergers & acquisitions, investments & expansions, partnerships & agreements, and joint ventures & collaborations were the strategies adopted by these players to achieve growth in the battery material market.


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Battery Materials Market is expected to show high growth in next five years. Its market is segmented by different types of lithium battery materials which include cathode, anode, electrolyte, separator, binders, and packaging material. Lithium Batteries are more efficient as compared to others. Lithium battery is known by its high performance with outstanding properties such as high energy density, long discharge cycle, lightweight, and compact size. Lithium batteries have become more widely used over the last five years. Lithium battery raw materials are Cathode, Anode, separator and electrolyte. Lithium batteries are mostly used in consumer electronics. Asia pacific region has the biggest share in the consumption of lithium batteries.


The consumption trend of battery materials depends on growth across various application, such as EVs, Portable device, industrials, and others. The demand for battery materials is mainly increasing due to its rising applications in the EVs (EV Cars, Trucks, Buses, Vans, and others), Portable devices (laptop, mobile, power banks and others), industrial (UPS, stationary applications, and others), and other industries.


Based on battery type, The Lithium-ion battery are projected to be the fastest growing battery type during the forecast period. Manufacturers are investing in R&D activities to broaden their product portfolio to cater to the consumer market. The growing demand for Li-ion battery is also encouraging global players to increase their business share and revenue.

Based on Application, Electric Vehicle segment is estimated to account for the largest share of the market during the forecast period. Battery materials are majorly used in Evs, portable devices, stationary applications, smart devices, and other electronic products. The battery also helps to improve the performance of specific applications such as portable devices, Evs, and other electronic equipments. Batteries are also improving the environment and providing sustainable energy storage system.


Various factors, including environmental regulations & strict government mandate on fuel economy, increasing public awareness regarding the harmful effects of traditional vehicles, and rising demand for various applications are factors offering growth opportunities for the market.


The Asia-Pacific battery materials market is expected to dominate and register the largest market share during the forecast period. This projection suggests that the region will experience significant growth and demand for battery materials used in various industries, particularly in the electric vehicle (EV) and energy storage sectors. Factors contributing to this growth include the increasing adoption of electric vehicles, government incentives and policies promoting clean energy, and the growing need for energy storage solutions to support renewable energy sources.


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