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Battery Material Market, Size, Share, Opportunities and Forecast, 2020-2027




(EnergyIndustry.Net, June 24, 2020 ) Market Overview
The Global Battery Material Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
Globally, battery use is transitioning from primary to secondary, rechargeable types, driven by the proliferation of cellular phones and other portable electronics such as tablets, growing motor vehicle use in developing countries, and increasing production of hybrid and/or electric vehicles (H/EV) in industrialized economies. Demand for battery materials is influenced greatly by the types of batteries used.

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Market Dynamics
Rise in demand for electric vehicles and increase in the usage of electronic devices are the driving factors for the growth of the market globally. Increasing usage and demand for electronics especially for smart devices is the foremost driver for market growth. Growing demand and investments in electric vehicles are the major driver impacting the growth of the market worldwide. For instance, Automobile giant Volkswagen has announced an investment of USD 24 billion to set up an all-electric line-up of cars, including infrastructure, by 2030. China's largest electric carmaker BYD reportedly sold 113,669 new energy vehicles in 2017. Automaker Volvo has announced that electric vehicles will account for 50% of all its sales by 2025 and it plans to offer a hybrid variant of all its vehicles from mid-2019. It is said that at least 60% of the batteries from electric vehicles will serve in second use solutions before they are sent to recycling.
Regulations and safety issues related to lead-acid battery materials is the major restraint hindering the market growth.

Marketing Segmentation
Based on the end use industry, the battery material market is classified into automotive, industrial, consumer electronics and other end use industries. Others include power and marine. The global battery material market size by electronics was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
On the basis of material type, the battery material market is segmented into li-ion battery material, separator material, electrolyte material and other materials. Li-ion battery material is further divided into anode material and cathode material. The global battery material market size by separator material was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
By battery type, the battery material market is segmented into lead-acid, lithium-ion and others. Others include nickel-metal hydride and nickel cadmium. The global battery material market size by lithium-ion was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The lithium-ion battery is turning into the preferred battery option in smart applications and devices. The lithium-ion battery industry is tremendously meeting the electronics market demand globally, including cell phones, personal computers, and digital/video cameras. Most modern portable electronic devices like iPhones use lithium-ion batteries.
Li-ion batteries are more convenient choice for electronics due to their high charging back-up capacity. Lithium-ion batteries are cleaner, live longer, recycle better, and require much less maintenance. All these characteristics are playing a crucial role in adopting Li-ion batteries globally by the key electronic manufacturers. For instance, from 2001 to 2016, the value of electronics exports from Asia jumped from USD 537.3 billion to USD 1,758 billion, at an average growth rate of 8.2% each year.

Market Geographical Analysis
The Asia Pacific market is valued at USD XX Million in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Million by 2026. Asia Pacific region holds XX% of market share in 2018 and is expected to increase to XX% by 2026 in global battery material market. Asia Pacific is expected to hold the largest market share globally over the forecast period to 2026. Growth in the generation of electric vehicles and the utilization of batteries in vehicles is driving the market in the Asia Pacific region. The market essentially made up of China and India, which have a massive potential for some application in the lithium-ion battery market. China being a worldwide automotive producing center holds great potential for the development of the market. Additionally, China is likely to be one of the world's prominent manufacturers of electronic gadgets.
Furthermore, the presence of various electronic makers like, LG Electronics, Panasonic, Sony Corp., and Samsung SDI is one of the key elements driving the market for lithium particle batteries in APAC region. For instance, Panasonic is a leading supplier of lithium-ion batteries, and has around 20% market share in automotive lithium-ion batteries globally.

Market Competitive Landscape
The Battery Material market is highly competitive with existing players in the market.
Some of the major players include Hitachi Chemical, Mitsubishi Chemical Holdings, Kureha Corporation, Johnson Matthey, Asahi Kasei Corporation, Umicore, DOW Chemical, Zhangjiagang Guotai Huarong Chemical New Material, BASF and Tanaka Chemicals.
There has been significant investment by incumbent and new battery producers into constructing additional manufacturing capacity to meet demand.
For instance, In September 2017, Panasonic Corporation has decided to start the production of automotive lithium-ion batteries at a factory in Himeji, Hyogo Prefecture, and expanding domestic production amid increasing demand for such batteries.
In July 2018, BYD Company signed strategic cooperation agreement with Changan Automobile to jointly manufacture batteries for electric vehicles. The groundbreaking agreement will see both companies collaborate in the production and sale of these batteries through a new legal entity based in Chongqing, a mega city of 33 million people in central China.

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