The battery material market is expected to reach $69.2 billion by 2023

   Febuary 11, 2019
According to a new market report published by Lucintel, the future of the battery material market looks promising with opportunities in the transportation, industrial, and consumer electronics industries. The global battery material market is expected to reach an estimated $69.2 billion by 2023 with a CAGR of 8.7% from 2018 to 2023. The major drivers for this market are growing adoption of electric vehicles, rising demand for portable electronics, and growing need for energy storage devices.

Browse 163 market data tables and 174 figures spread through 270 pages and in-depth TOC on “Global Battery Material Market"

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In this market, different types of battery material such as Lead dioxide, Lithium manganese oxide, Lithium cobalt oxide, Nickel manganese cobalt, Nickel cobalt aluminum, Lithium-iron phosphate, Lead, Natural Graphite, Synthetic Graphite, Others are used as material. Lucintel forecasts that cathode will to remain the largest segment and it is expected to witness the highest growth during the forecast period due to growth in lead acid and lithium ion battery considering increase in automotive industry.

Within this market, material used in battery for transportation is expected to remain the largest end use industry and witness highest growth over the forecast period. Customer inclination towards electric vehicles and growing preference of NMC (Nickel Manganese Cobalt) and NCA (Nickelk Cobalt Aluminium) based lithium-ion batteries in electric vehicles are expected to drive the market of battery materials in the automotive industry.

Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period. Growing production of electric vehicles, consumer electronics, and the growing demand for backup power systems are expected to boost demand for the battery material market in this region.

Emerging trends, which have a direct impact on the dynamics of the battery materials industry, include development of solid state electrolyte and the emergence of sodium-ion batteries. Umicore, Asahi Kasei, Henan Yuguang, Glencore, Nyrstar, Sumitomo Metal Mining, Mitsubishi Chemical, and Hitachi Chemical and others are among the major battery material manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global battery material market by material type, chemistry type, battery type, end use industry, and region and has come up with a comprehensive research report entitled  “Growth Opportunities in the Global Battery Material Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global battery material market by material type, chemistry type, battery type, end use industry, and region as follows:

By Material [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

  • Cathode

  • Lead dioxide

  • Lithium manganese oxide

  • Lithium cobalt oxide

  • Nickel manganese cobalt

  • Nickel cobalt aluminum

  • Lithium-iron phosphate 

  • Anode

  • Lead 

  • Natural Graphite

  • Synthetic Graphite

  • Others

  • Electrolyte

  • Separator

  • Others

By Chemistry Type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

  • Lead-Acid 

  • Lithium-ion 

  • Alkaline

  • Others

By End Use Industry [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

  • Transportation

  • Electric Vehicle

  • Internal combustion engine (ICE)

  • Industrial

  • Energy Storage

  • Others

  • Consumer Electronics

  • Cellphone

  • Portable Computers

  • Others

  • Others

By Battery Type [Volume (Kilotons) and $M shipment analysis from 2012 to 2023]:

  • Primary Battery

  • Secondary Battery

By Region [$M shipment analysis for 2012 – 2023]:

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • Germany

  • Asia Pacific

    • China

    • South Korea

    • Japan

  • The Rest of the World

This 270-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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