Market Synopsis: —
As per Market Research Future (MRFR)’s assessment, the global battery materials market is expected to thrive at a steady CAGR during the forecast period 2018 to 2023. Batteries have developed applications across automobiles, industrial batteries, electric grid, and power storages. It is poised to aid the proliferation of the market over the next couple of years.
Rapid industrialization is one of the major factors responsible for the growth of the battery material market across the projection period. The growth of the automotive sector is likely to reflect on the proliferation of the battery material market. In addition, the flourishing consumer electronics market is also presumed to drive the expansion of the market over the next few years.
Rapid urbanization and increasing disposable income are forecasted to favor the growth of the battery material market. On the flip side, stringent regulations enforced against the use of harmful raw materials is prognosticated to hinder the growth of the battery material market through the assessment period.
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By type, the global battery material market has been segmented into cathode, anode, electrolyte, separator, binders, and packaging material.
By application, the battery material market has been segmented into primary batteries, secondary batteries, and others.
By end-user industry, the global battery material market has been segmented into electronics, automobiles, power storages, and others.
The global battery material market, by region, has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Asia Pacific is likely to strike the highest CAGR during the forecast period. The growth of the market can be ascribed to the burgeoning consumer electronics industry. The presence of major producers of battery materials is likely to aid the proliferation of the market in the forthcoming years. Country-level markets such as China, India, Japan, and South Korea are poised to accrue substantial revenue over the next few years owing to the accelerated adoption of electronic gadgets.
North America is anticipated to grow moderately in the forthcoming years. Led by the U.S., the battery materials market in the region is presumed to benefit from increasing production capacities, rising economic growth rate, etc. Europe is projected to grow steadily over the next few years. The presence of a developed automotive sector is prognosticated to have a positive influence on the growth of the regional battery materials market.
Latin American nations such as Argentina, Colombia, and Brazil are forecasted to contribute considerably towards the expansion of the battery material market in the forthcoming years. The factors that are likely to drive the proliferation of the market in the region are innovations in battery materials, increasing consumer spending on passenger cars, etc.
3M Company (U.S.), ENTEK International LLC (U.K), Solvay S.A. (Belgium), Ecopro Co., Ltd. (South Korea), BASF SE (Germany), Hitachi Chemical Company, Ltd. (Japan), Celgard, LLC (U.S.), The Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Mitsubishi Chemical Corporation (Japanese), and Nippon Denko Co., Ltd. (Japan) are some of the key players profiled in this MRFR report.
In December 2018, GEM, a Chinese battery firm, has ceased purchasing cobalt from Glencore, which is a mining and trading giant. The transaction has been stopped due to the crashed price of the battery material than that agreed in a three-year deal.
In December 2018, researchers at the University of Stockholm have developed an upgrade for excessively multiplying the lifespan of nickel metal hydride batteries.
In January 2019, BioSolar, Inc., a developer of innovative energy storage technology and materials, has issued a progress update on its endeavors for building commercial grade prototypes in a battery cell format
Battery Materials Market Table of Content to be Continue….,
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