The battery chemicals market refers to the industry involved in the production, supply, and utilization of chemicals used in the manufacturing and maintenance of various types of batteries. These chemicals play a crucial role in enhancing the performance, efficiency, and lifespan of batteries.
Battery chemicals include a wide range of materials such as lithium, cobalt, nickel, manganese, graphite, electrolytes, separators, binders, and additives. Each of these chemicals has specific functions within different types of batteries, including lithium-ion batteries, lead-acid batteries, nickel-metal hydride (NiMH) batteries, and others.
The global battery chemicals market has experienced significant growth in recent years, driven by the increasing demand for batteries in various industries such as automotive, electronics, renewable energy, and grid storage. The rising adoption of electric vehicles (EVs) and the growing need for energy storage solutions have been key drivers for the market.
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Key Segments of Battery Chemicals Industry Analysis
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Battery Chemicals Market by Chemical Type:
- Cathode Battery Chemicals
- Cobalt
- Nickel
- Manganese
- Others
- Anode Battery Chemicals
- Lithium
- Graphite
- Silicon
- Others
- Electrolyte Battery Chemicals
- Potassium Hydroxide
- Lithium Salts
- Sulphuric Acid
- Others
- Separator
- Cathode 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
- Conventional Vehicles
- Electric Vehicles
- Airplanes
- Consumer Electronics
- Smartphones & Tablets
- Laptops & Gaming Consoles
- Others (Incl. Remote Controls)
- Household Appliances
- Health Monitoring Equipment
- Wireless Doorbells
- Children toys
- Others
- Security & Monitoring Systems
- Fire Alarms
- Weather Instrumentation
- Utilities & Backup Power
- Solar Powered Systems
- UPS & Others
- Medical
- Automotive Industry
-
Battery Chemicals Market by Application:
- Primary (Not Rechargeable) Battery Chemicals
- Secondary (Rechargeable) Battery Chemicals
-
Battery Chemicals Market by Region:
- North America Battery Chemicals Market
- Latin America Battery Chemicals Market
- Europe Battery Chemicals Market
- East Asia Battery Chemicals Market
- South Asia & Oceania Battery Chemicals Market
- Middle East & Africa Battery Chemicals Market
Key Takeaways from Market Study
- Although lead acid batteries accounted for a majority of the market share as of 2021, the lithium-ion batteries segment is projected expand at the fastest rate of 12.1% to overtake lead acid battery demand by 2032.
- Lithium batteries, as primary driving/energy storage units, will grow in lockstep with the growth of the electric vehicle fleet. Based on chemical type, lithium, under anode, is projected to expand at a CAGR of around 6.1% over the forecast period
- On the basis of application, battery chemical consumption in secondary batteries is anticipated to expand around 2.4X by 2032.
- East Asia is projected to capture around 21.1% of the global battery chemicals market share by 2032.
- Europe has been at the forefront of developing and implementing programmes such as the REACH policy by 2030, and has been credited with being the first to adopt electric vehicles. Europe is set to provide an absolute dollar opportunity worth US$ 15 Bn by 2032-end.
Competition Landscape
Top EV battery manufacturers and top battery making companies have remained active in terms of overall investments being done in the battery chemicals market, and are profoundly looking forward to create future revenue generating opportunities in target markets.
- In August 2020-21, China Molybdenum Company decided to invest US$ 2.5 Bn to boost copper and cobalt production at its Tenke Fungurume mine, which is already one of the largest in DRC.
Key Companies Profiled
- AlbeMarle
- China Molybdenum Co. Ltd.
- Gan feng Lithium Co. Ltd.
- Glencore PLC
- Livent Corporation
- Nornickel
- SQM
- Teck Resources
- Tianqi Lithium
- Vale S.A.
- Hindustan Zinc Ltd.
- Palm Commodities International
- Korea Zinc
- Sheritt International Corporation
- Nyrstar NV
- Venator Materials PLC
- Mody Chemi Pharma Ltd.,
- Mitsubishi Chemical Holdings
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (kilo tons), and value (US$ Million). Market estimates at global and regional levels for battery chemicals are available in terms of “US$ Million”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a company can look to achieve, along with identifying potential resources, considering the revenue perspective in the global battery chemicals market.
In-depth Analysis on Competition
The report sheds light on leading providers of battery chemicals, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the battery chemicals business has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as production sites & capacities, product portfolios, channel partners, prominent consumers, and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the battery chemicals market.