The global battery materials market size was US$ 46.6 billion in 2021. The global battery materials market is forecast to grow to US$ 74.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic has declined the demand for the electric vehicle, which ultimately hampered the growth of the global battery materials market. In addition to that, the mining sector witnessed various challenges, which reduced the production capacity of battery materials. In addition, conveyance, electrical & electronics, automotive, and energy sectors also witnessed an abrupt drop in terms of revenue. As a result, it hampered the growth of the global battery materials market.

Factors Influencing the Market

The global battery materials market is forecast to witness substantial growth in the coming years, owing to the rising use of consumer electronics such as smartphones and laptops. In addition, the rising collaborations between miners and battery manufacturers will fuel the growth of the global battery materials market during the forecast period.

Growing prices of crude oil and concerns related to carbon emission are forecast to upsurge global EV sales. Furthermore, favorable incentives and tax rebates by government bodies will increase the demand for electric vehicles. Therefore, it will propel the overall battery materials market forward.

Growing employment rates and the development of new battery technologies will contribute to the growth of the global market. On the contrary, environmental concerns associated with the mining of metals may limit the battery materials market growth during the study period.

Regional Analysis

On the basis of region, the Asia-Pacific battery materials market is expected to hold the highest share, owing to the strong economic growth of emerging economies, such as China, Indonesia, Malaysia, and India. In addition, the growing initiatives for the rollout of 5G technology will further push smartphone sales. As a result, it will drive the Asia-Pacific battery materials market forward.

The 5G rollout in China has been beneficial for the mobile, telecom, and Unicom sectors. In addition to that, India is expected to be one of the largest markets for battery materials as telecom companies are focusing on launching 5G services in the country. As a result, it will drive the battery materials market forward. Furthermore, the growing employment rate and rising initiatives to promote the use of electric vehicles will benefit the Asia-Pacific battery materials market during the forecast period.

Competitors in the Market

Albemarle
Gan Feng Lithium Co. Ltd.
China Molybdenum Co. Ltd.
Glencore PLC
Norlisk Nickel
Sheritt International Corporation
Livent Corporation
SQM
Teck Resources
Tianqi Lithium
Targray Technology International Inc.
Vale S.A.
Other Prominent Players
Market Segmentation

The global battery materials market segmentation focuses on Battery, End-Use, and Region.

By Battery Type Outlook

Lithium-Ion
Lead Acid
Others
By End-Use Outlook

Automobile Industry
Household Appliances
Electronics Industry
Others
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America