Semiconductor & Electronics Market Research News

Battery materials market to hit 8.62% CAGR and projected to reach US$ 65.78 billion by 2023 according to new research report

Semiconductor and Electronics Research

The battery materials market is projected to reach USD 65.78 Billion by 2023 The battery materials market is projected to grow from USD 43.50 Billion in 2018 to USD 65.78 Billion by 2023, at a CAGR of 8.62% between 2018 and 2023. APAC is expected to lead the global battery materials market during the forecast period. Battery material is used in the manufacturing of batteries. Cathode, anode, electrolyte, and separators are the main building blocks of a battery system.

Access Sample Papers of Battery Materials Market spread across 170 Pages, Profiling 12 Companies and Supported with 155 Tables and 47 Figures is now available at www.rnrmarketresearch.com/contacts…ple?rname=1496750 .

Key companies profiled in battery materials market research report include Umicore (Belgium), Asahi Kasei (Japan), Mitsubishi Chemical Holdings (Japan), POSCO (South Korea), Johnson Matthey (UK), Hitachi Chemical Company (Japan), Kureha Corporation (Japan), Sumitomo Corporation (Japan), Toray Industries (Japan), and Mitsui Mining & Smelting (Japan), among others.

Key Target Audience:

  • Manufacturers of Battery Materials
  • Raw Material Suppliers
  • Traders, Distributors, and Suppliers of Battery Materials
  • Automobile Manufacturers
  • Government & Regional Agencies and Research Organizations
  • Investment Research Firms

The lithium-ion segment is expected to be the fastest-growing battery type segment of the battery materials market during the forecast period. Automobile manufacturers have started focusing on EVs, as several countries and their governments have taken initiatives towards a green environment and lower CO2 emission.

The growing use of EVs and the use of portable electronic devices are likely to drive the lithium-ion battery materials market during the forecast period.

Report at www.rnrmarketresearch.com/contacts/1496750 .

The APAC region is expected to witness the highest growth during the forecast period. The growth of this market is driven by the high demand for battery energy in APAC countries.

The high demand for battery from the automotive sector due to the increase in the use of EVs and industrial sectors powered by usage in telecom, railways, power, and other industrial applications are driving the battery materials market in APAC.

The break-up of the primary interviews is given below:

  • By Company Type: Tier 1 – 32%, Tier 2 – 38%, and Others – 30%
  • By Designation: C-level – 42%, Director-level – 31%, and Others – 27%
  • By Region: North America – 59%, Europe – 19%, APAC – 12%, RoW – 10%

The report covers the market for battery materials and its applications across different industry verticals and regions. It aims at estimating the market size and the potential of the battery materials market across different battery types, materials, applications, and regions.

The report also includes an in-depth competitive analysis of key market players, along with their company profiles, recent developments, and key market strategies.

Report at www.rnrmarketresearch.com/contacts/?rname=1496750 .

The drivers for battery materials market growth in the APAC countries include the shifting preference from fuel energy to battery energy due to regulations on CO2 emissions and government support through policy changes and subsidies. This has further increased the demand for electrified vehicles including battery electric vehicles (BEV), plug-in hybrid vehicles (PHEV), and hybrid electric vehicles (HEV).

The electric vehicle subsegment is expected to be the largest lithium-ion application segment during the forecast period. The use of clean and sustainable fuel in the automotive industry and concerns among economists and environmentalists have led to the adoption of EVs.

This will drive the battery materials market during the forecast period.

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