Battery Chemicals Market Size, Trends and Insights By Chemicals (Cathode, Anode, Electrolyte), By Battery type (Lead Acid Batteries, Lithium Ion Batteries, Others), By Application (Automotive, Consumer Electronics, Household appliances, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Albemarle
- China Molybdenum Co. Ltd.
- Gan feng Lithium Co. Ltd.
- Livent Corporation
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Battery Chemicals Market was estimated at around USD 72.31 billion in 2021 and is expected to reach USD 78.98 billion in 2022 growing at a CAGR of nearly 8.8% from 2022 to 2030. The market is projected to reach approximately USD 163.13 billion by 2030.
The battery Chemicals Market offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.
Battery Chemicals Market: Overview
In the battery supply chain, battery chemicals are the essential raw materials and substances. They are mostly composed of metals like lithium, cobalt, and nickel. They are obtained through upstream mining activities that entail processing mineral ores, or saltwater brines into battery metals. The finished goods are battery packs utilized in various end markets, including automotive, consumer electronics, and energy storage. The lithium-ion battery is now the most popular type of battery. It may be derived from mineral ores like spodumene and lepidolite or brine. In addition to lithium, these batteries include cobalt, nickel, and manganese.
Battery Chemicals Market: COVID–19 Impact Analysis
The COVID-19 pandemic has significantly impacted global economies. For several industries, COVID-19 has created several difficulties. The COVID-19 pandemic is affecting the supply chain at all levels and is quickly expanding across nations. The energy storage industry is experiencing challenges with manufacturing, shipping hold-ups, project expansion, and R&D. Sales of battery-related products and the rate at which they are produced have decreased. In addition, restrictions on supply and logistics brought on by the prohibition on exporting and importing raw materials for batteries are leading to significant disruptions.
Battery Chemicals Market: Growth Drivers
The growing interest in electric vehicles accelerated the market’s growth.
The demand for electric vehicles is accelerating due to the automotive industry’s continual improvements and rapid development. The demand for zero-emission electric cars has increased due to favorable government regulations on subsidies, tax refunds, and new car registration, as well as the rising concern of different government entities towards a cleaner and greener environment. Sales of electric vehicles are projected to be driven by the rising need for carbon emission reductions and the development of quick, high-tech charging stations, which will help the demand for the product.
In addition, the commercial electric sector has expanded due to the growing usage of electric buses, particularly in China and India. Moreover, most electric vehicle batteries are lithium-based and comprise a combination of nickel, manganese, cobalt, graphite, and other elements. Due to increased manufacturing volume and more efficient production processes created by the manufacturers, lithium-ion battery prices have significantly decreased.
The high consumption of consumer electronics is driving the demand for batteries.
The rising demand for electronics like computers, TVs, phones, and other devices is behind the industry’s high output levels. The consumer electronics market is projected to be driven by technological advancement and the gaming industry’s rapid growth. The need for batteries is expected to rise as more people use smartphones, computers, smart electronic devices, digital cameras, and tablets. Companies are devoting efforts to creating innovative battery technologies that will likely increase the market’s need for innovative gadgets. Lithium-ion technology is anticipated to rise along with the use of portable power supplies and mobile phones.
Battery Chemicals Market: Segmentation Analysis
The battery chemicals market is segmented into the chemicals type, battery type, and application. Based on chemical type, the market cathode chemicals segment is estimated to lead the market during the forecast period. Cobalt, manganese, and nickel are the main active elements found in cathode materials. Lithium Nickel Manganese Oxide (NMC) and Nickel Cobalt Aluminum Oxide are the two nickel compounds that primarily replace cobalt in modern technology (NCA). Sulfur, vanadium, and iron are the primary undesired metal contaminants that must be absent from cathode materials and must be exceedingly pure.
The battery family comprises various solutions that may be tailored to meet the demands of customers who want high energy density or load capacity. The market is expanding due to the rising demand for electric cars and the strong demand for lithium-ion batteries for industrial applications. Moreover, the development of the lithium-ion battery anode business globally is fueled by partnerships and facility expansions implemented by several significant participants in the sector.
By battery type, the lithium-ion battery segment is anticipated to dominate the market during the forecast period. Lithium-ion battery use has increased significantly in recent years due to the booming demand for the production of electric vehicles and the rapidly expanding consumer electronics sector.
As a result, demand for lithium-ion batteries increases globally and sales of automobile battery chemicals increase. In addition, rising demand for electric cars, particularly for sophisticated lithium-ion and lithium-cobalt batteries, is a significant driver pushing lithium-ion battery sales globally. The growing number of smartphone users who want their devices to be portable, rechargeable, and have a longer battery life has been another significant demand driver.
By application, the automotive sector is anticipated to dominate the battery chemicals market during the forecast period. Adopting EVs is driven by improved legislative support in key vehicle markets, new battery technologies with lower predicted prices, speedier infrastructure expenditures for charging, and increased customer uptake despite the COVID-19 epidemic.
The advancements in electric commercial vans and vehicles are also driving the market. Moreover, lithium-ion batteries are more widely used in consumer electronics applications, which is expected to fuel industry expansion. The industry demand will be boosted by the rising demand for smart electronic devices brought on by the rising population, parity in purchasing power, and a shift in lifestyle preferences.
Additionally, governments worldwide emphasize digitalization, and encouraging customers to use electronic gadgets properly is a crucial component of market expansion. An enormous market opportunity has been created for battery makers due to the exponential growth in the need and supply of battery power for wireless devices.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 72.31 billion |
| Projected Market Size in 2030 | USD 163.13 billion |
| CAGR Growth Rate | 8.8% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Albemarle, China Molybdenum Co. Ltd., Gan feng Lithium Co. Ltd., Livent Corporation, Norlisk Nickel, Sheritt International Corporation, SQM, Glencore PLC, Targray Technology International Inc., Teck Resources, Tianqi Lithium, Vale S.A., and Others |
| Key Segment | By Chemicals, Battery type, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- Based on chemical segmentation, the cathode chemicals segment is estimated to hold the largest market share during the forecast period.
- Based on battery type segmentation, the lithium-ion battery segment is the leading revenue-generating category during the forecast period.
- Based on application segmentation, the automobile segment is the leading revenue-generating category during the forecast period, and consumer electronics is growing significantly.
- Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Recent Development
- May 2022: The joint venture between POSCO Chemical and General Motors has been completed, according to the company’s announcement. Its name is Ultium CAM, and Quebec, Canada, will be its location. For the creation of the joint venture, the two businesses are each contributing $327 million (USD) (JV). GM’s Ultium Cells, LLC operations in the US will receive most of the material produced by the Ultium CAM JV’s yearly production of thousands of tons.
- April 2022: A long-term strategic supply deal for EV cathode materials in Europe has been inked by Umicore and Automotive Cells Company (ACC), a partnership comprising Stellantis, Mercedes-Benz, TotalEnergies, and its subsidiary Saft. Future large-scale European battery factories will get next-generation high-nickel cathode materials from Umicore’s greenfield manufacturing facility in Nysa, Poland.
The first cathode materials factory in Europe, owned by Umicore, will open in Nysa in 2021. The factory will employ four hundred workers when it begins commercial production in the second quarter of 2022. In addition to building Gigafactories in France and Germany, ACC recently revealed intentions to build a third one in Italy.
Regional Landscape
Throughout the projection period, Asia-Pacific is expected to continue to be among the most alluring markets and this region is accounted for the majority revenue share in the market. India, Japan, China, and South Korea will likely lead the Asia Pacific. It is anticipated that rapid urbanization and rising customer interest in electric vehicles will accelerate regional growth. Most Indian businesses are making alliances with foreign businesses and establishing new manufacturing facilities to construct EV battery factories utilizing locally produced battery materials, which will fuel the expansion of the global battery materials market in the area.
The European market is anticipated to have significant expansion during the anticipated period. Europe became the world’s second-largest auto market in June 2018 after registering over one million plug-in electric passenger vehicles. Additionally, Germany’s expanding electronics and automotive sectors may open up significant development prospects for the world market for battery chemicals.
Competitive Landscape
Our report offers quantitative and qualitative insights into the WebRTC market and major development initiatives the key players adopt. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.
Key Players:
- Albemarle
- China Molybdenum Co. Ltd.
- Gan feng Lithium Co. Ltd.
- Livent Corporation
- Norlisk Nickel
- Sheritt International Corporation
- SQM
- Glencore PLC
- Targray Technology International Inc.
- Teck Resources
- Tianqi Lithium
- Vale S.A.
The global Battery Chemicals market is segmented as follows:
Battery Chemicals Market by Chemical Type
- Cathode Battery Chemicals
- Anode Battery Chemicals
- Electrolyte Battery Chemicals
By Battery Type
- Nickel Cadmium Batteries
- Zinc Carbon Batteries
- Lead Acid Batteries
- Lithium Ion Batteries
- Alkaline Batteries
- Others
Battery Chemicals Market by End Use
- Automotive Industry
- Consumer Electronics
- Household Appliances
- Security & Monitoring Systems
- Utilities & Backup Power
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Battery Chemicals Market, (2022 – 2030) (USD Billion)
- 2.2 Global Battery Chemicals Market : snapshot
- Chapter 3. Global Battery Chemicals Market – Industry Analysis
- 3.1 Battery Chemicals Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 The Growing Interest In Electric Vehicles
- 3.2.2 The High Consumption Of Consumer Electronics
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Chemicals
- 3.7.2 Market attractiveness analysis By Battery type
- 3.7.3 Market attractiveness analysis By Application
- Chapter 4. Global Battery Chemicals Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Battery Chemicals Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Battery Chemicals Market – Chemicals Analysis
- 5.1 Global Battery Chemicals Market overview: By Chemicals
- 5.1.1 Global Battery Chemicals Market share, By Chemicals, 2021 and 2030
- 5.2 Cathode
- 5.2.1 Global Battery Chemicals Market by Cathode, 2022 – 2030 (USD Billion)
- 5.3 Anode
- 5.3.1 Global Battery Chemicals Market by Anode, 2022 – 2030 (USD Billion)
- 5.4 Electrolyte
- 5.4.1 Global Battery Chemicals Market by Electrolyte, 2022 – 2030 (USD Billion)
- 5.1 Global Battery Chemicals Market overview: By Chemicals
- Chapter 6. Global Battery Chemicals Market – Battery type Analysis
- 6.1 Global Battery Chemicals Market overview: By Battery type
- 6.1.1 Global Battery Chemicals Market share, By Battery type, 2021 and 2030
- 6.2 Lead Acid Batteries
- 6.2.1 Global Battery Chemicals Market by Lead Acid Batteries, 2022 – 2030 (USD Billion)
- 6.3 Lithium Ion Batteries
- 6.3.1 Global Battery Chemicals Market by Lithium Ion Batteries, 2022 – 2030 (USD Billion)
- 6.1 Global Battery Chemicals Market overview: By Battery type
- Chapter 7. Global Battery Chemicals Market – Application Analysis
- 7.1 Global Battery Chemicals Market overview: By Application
- 7.1.1 Global Battery Chemicals Market share, By Application, 2021 and 2030
- 7.2 Automotive
- 7.2.1 Global Battery Chemicals Market by Automotive, 2022 – 2030 (USD Billion)
- 7.3 Consumer Electronics
- 7.3.1 Global Battery Chemicals Market by Consumer Electronics, 2022 – 2030 (USD Billion)
- 7.4 Household appliances
- 7.4.1 Global Battery Chemicals Market by Household appliances, 2022 – 2030 (USD Billion)
- 7.1 Global Battery Chemicals Market overview: By Application
- Chapter 8. Battery Chemical Industry – Regional Analysis
- 8.1 Global Battery Chemical Industry Regional Overview
- 8.2 Global Battery Chemical Industry Share, by Region, 2021 & 2030 (USD Billion)
- 8.3. North America
- 8.3.1 North America Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.3.1.1 North America Battery Chemical Industry, by Country, 2022 – 2030 (USD Billion)
- 8.3.1 North America Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.4 North America Battery Chemical Industry, by Chemicals, 2022 – 2030
- 8.4.1 North America Battery Chemical Industry, by Chemicals, 2022 – 2030 (USD Billion)
- 8.5 North America Battery Chemical Industry, by Battery type, 2022 – 2030
- 8.5.1 North America Battery Chemical Industry, by Battery type, 2022 – 2030 (USD Billion)
- 8.6 North America Battery Chemical Industry, by Application, 2022 – 2030
- 8.6.1 North America Battery Chemical Industry, by Application, 2022 – 2030 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.7.1.1 Europe Battery Chemical Industry, by Country, 2022 – 2030 (USD Billion)
- 8.7.1 Europe Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.8 Europe Battery Chemical Industry, by Chemicals, 2022 – 2030
- 8.8.1 Europe Battery Chemical Industry, by Chemicals, 2022 – 2030 (USD Billion)
- 8.9 Europe Battery Chemical Industry, by Battery type, 2022 – 2030
- 8.9.1 Europe Battery Chemical Industry, by Battery type, 2022 – 2030 (USD Billion)
- 8.10 Europe Battery Chemical Industry, by Application, 2022 – 2030
- 8.10.1 Europe Battery Chemical Industry, by Application, 2022 – 2030 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.11.1.1 Asia Pacific Battery Chemical Industry, by Country, 2022 – 2030 (USD Billion)
- 8.11.1 Asia Pacific Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.12 Asia Pacific Battery Chemical Industry, by Chemicals, 2022 – 2030
- 8.12.1 Asia Pacific Battery Chemical Industry, by Chemicals, 2022 – 2030 (USD Billion)
- 8.13 Asia Pacific Battery Chemical Industry, by Battery type, 2022 – 2030
- 8.13.1 Asia Pacific Battery Chemical Industry, by Battery type, 2022 – 2030 (USD Billion)
- 8.14 Asia Pacific Battery Chemical Industry, by Application, 2022 – 2030
- 8.14.1 Asia Pacific Battery Chemical Industry, by Application, 2022 – 2030 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.15.1.1 Latin America Battery Chemical Industry, by Country, 2022 – 2030 (USD Billion)
- 8.15.1 Latin America Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.16 Latin America Battery Chemical Industry, by Chemicals, 2022 – 2030
- 8.16.1 Latin America Battery Chemical Industry, by Chemicals, 2022 – 2030 (USD Billion)
- 8.17 Latin America Battery Chemical Industry, by Battery type, 2022 – 2030
- 8.17.1 Latin America Battery Chemical Industry, by Battery type, 2022 – 2030 (USD Billion)
- 8.18 Latin America Battery Chemical Industry, by Application, 2022 – 2030
- 8.18.1 Latin America Battery Chemical Industry, by Application, 2022 – 2030 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Battery Chemical Industry, by Country, 2022 – 2030 (USD Billion)
- 8.19.1 The Middle-East and Africa Battery Chemical Industry, 2022 – 2030 (USD Billion)
- 8.20 The Middle-East and Africa Battery Chemical Industry, by Chemicals, 2022 – 2030
- 8.20.1 The Middle-East and Africa Battery Chemical Industry, by Chemicals, 2022 – 2030 (USD Billion)
- 8.21 The Middle-East and Africa Battery Chemical Industry, by Battery type, 2022 – 2030
- 8.21.1 The Middle-East and Africa Battery Chemical Industry, by Battery type, 2022 – 2030 (USD Billion)
- 8.22 The Middle-East and Africa Battery Chemical Industry, by Application, 2022 – 2030
- 8.22.1 The Middle-East and Africa Battery Chemical Industry, by Application, 2022 – 2030 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Albemarle
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 China Molybdenum Co. Ltd.
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Gan feng Lithium Co. Ltd.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Livent Corporation
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Norlisk Nickel
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Sheritt International Corporation
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 SQM
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Glencore PLC
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Targray Technology International Inc.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Teck Resources
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Tianqi Lithium
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Vale S.A.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.1 Albemarle
List Of Figures
Figures No 1 to 24
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
“Asia-Pacific” region will lead the global Battery Chemicals market during the forecast period 2022 to 2030.
The key factors driving the market are The high consumption of consumer electronics is driving the demand for batteries and The growing interest in electric vehicles accelerated the market’s growth.
The key players operating in the Battery Chemicals market are Albemarle, China Molybdenum Co. Ltd., Gan feng Lithium Co. Ltd., Livent Corporation, Norlisk Nickel, Sheritt International Corporation, SQM, Glencore PLC, Targray Technology International Inc., Teck Resources, Tianqi Lithium, Vale S.A.
The global Battery Chemicals market is expanding growth with a CAGR of approximately 8.8% during the forecast period (2022 to 2030).
The global Battery Chemicals market size was valued at USD 72.31 billion in 2021 and it is projected to reach around USD 163.13 billion by 2030.