Lucintel Forecasts Battery Material Market to reach $75.8 Billion by 2025

According to the recent study the battery material market is projected to reach an estimated $75.8 billion by 2025 from $47.3 billion in 2019, at a CAGR of 8% from 2020 to 2025. Growth in this market is primarily driven by growing adoption of electric vehicles, rising demand for portable electronics, and growing need for energy storage devices.

Browse 174 figures / charts and 163 tables in this 270 -page report to understand trends, opportunities and forecast in battery material market  by material type (Lead dioxide, Lithium manganese oxide, Lithium cobalt oxide, Nickel manganese cobalt, Nickel cobalt aluminum, Lithium-iron phosphate, Lead, Natural Graphite, Synthetic Graphite, Others), battery type (primary and secondary), chemistry type (lead-acid, lithium-ion and others),  , end use industry (consumer electronics, transportation, industrial, and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report and view detailed Table of Content by clicking on below link https://www.lucintel.com/battery-materials-market.aspx

“Cathode market is expected to remain the largest segment during the forecast period.”

Based on material, the battery material market is segmented into cathode, anode, electrolyte, separator, and others. Lucintel forecasts that the cathode market is expected to remain the largest segment with highest growth during the forecast period due to growth in lead acid and lithium ion battery considering increase in automotive industry.

“Within the battery material market, the transportation segment is expected to remain the largest end use industry”

Based on end use industry the transportation segment is expected to witness the largest end use industry and highest growth over the forecast period as 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 will dominate the battery material market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the 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.

Download Brochure of this report by clicking on https://www.lucintel.com/battery-materials-market.aspx

Major players of battery material market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Umicore, Asahi Kasei, Henan Yuguang, Glencore, Nyrstar, Sumitomo Metal Mining, Mitsubishi Chemical, and Hitachi Chemical and others are among the major Battery material providers.

This unique 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 https://www.lucintel.com/battery-materials-market.aspx or helpdesk@lucintel.com