Dublin, March 07, 2025 (GLOBE NEWSWIRE) -- The "Battery Materials Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Key Companies Profiled: Asahi Kasei Corporation; BASF SE; Mitsubishi Chemical Holdings Corporation; Sumitomo Corporation; Umicore NV
Asia-Pacific was the largest region in the battery materials market in 2024. The regions covered in the battery materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the battery materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The battery materials market size has grown rapidly in recent years. It will grow from $63.54 billion in 2024 to $70.68 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to growth in portable electronics, advancements in energy storage, consumer demand for longer battery life, renewable energy integration, government initiatives and subsidies, demand for lightweight materials, research and development funding.
The battery materials market size is expected to see rapid growth in the next few years. It will grow to $107.25 billion in 2029 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to transition to solid-state batteries, advancements in lithium-sulfur batteries, demand for low-cost materials, expansion of energy storage systems, material innovations for high temperatures, global efforts for carbon neutrality. Major trends in the forecast period include cobalt reduction and alternative chemistries, advancements in anode materials, recycling of battery materials, emerging markets for energy storage, investments in raw material exploration and mining.
The growing adoption of electric vehicles is expected to significantly drive the expansion of the battery materials market in the future. For example, in March 2024, the International Energy Agency reported that new electric car registrations in the United States reached 1.4 million in 2023, marking a more than 40% increase compared to 2022. Thus, the rising adoption of electric vehicles is fueling the growth of the battery materials market.
The burgeoning demand for consumer electronics is poised to be a key driver for the battery materials market's growth moving forward. Noteworthy is LG's annual financial report in January 2023, indicating unprecedented revenue growth, exceeding $60 billion for the first time in company history in 2022. The sales increase of 12.9% from 2021, reaching approximately $52.7 billion, and the Home Appliance & Air Solution Company's record revenue of $22.5 billion in 2022, up by 10.3% from the previous year, underscore the surging demand for consumer electronics, thereby propelling the battery materials market growth.
Technological advancements have become a major trend in the battery materials market, with companies developing new technologies to maintain their competitive edge. For example, in May 2023, Cabot Corporation, a U.S.-based materials manufacturer, introduced ENTERA Aerogel Particles for thermal barriers in lithium-ion batteries. This innovative material is designed to enhance battery performance by addressing key challenges such as thermal management and safety. The launch of advanced materials like ENTERA aligns with the industry's broader shift towards improved performance and sustainability in battery technologies. Cabot's focus on improving safety and efficiency reflects the growing demand for better lithium-ion battery solutions as electric mobility continues to rise worldwide.
Leading entities within the battery materials market are actively innovating to create tailored solutions, such as a series of cathode active materials specially crafted for light and medium electric vehicles. These innovative materials boast a manganese-rich and cobalt-free composition, positioning them as more cost-effective and environmentally sustainable alternatives to conventional cathode materials. Notably, in February 2023, Stratus Materials Inc., a US-based battery materials developer and manufacturer, introduced a set of these cathode active materials specifically engineered for light and medium electric vehicles. Distinguished by their heightened energy density, these materials possess the ability to store more energy per unit weight, a critical feature for electric vehicles requiring extended ranges and swift charging capabilities. Furthermore, their composition underscores a manganese-rich, cobalt-free nature, delivering superior energy density, prolonged cycle life, enhanced stability, cost efficiency, sustainability, and scalability.
Report Scope
Markets Covered:
1) by Type: Cathode; Anode; Electrolyte; Separator; Other Types
2) by Battery Type: Lithium Ion; Lead Acid; Other Battery Type
3) by Application: Automobile Industry; Household Appliances; Electronics Industry; Other Application
Subsegments:
1) by Cathode: Lithium Cobalt Oxide (LCO); Lithium Iron Phosphate (LFP); Nickel Manganese Cobalt (NMC); Nickel Cobalt Aluminum Oxide (NCA); Other Cathode Materials
2) by Anode: Graphite; Silicon-Based Anodes; Lithium Titanate; Other Anode Materials
3) by Electrolyte: Liquid Electrolytes; Solid Electrolytes; Gel Electrolytes; Polymer Electrolytes
4) by Separator: Polyethylene (PE); Polypropylene (PP); Ceramic-Coated Separators; Other Separator Materials
5) by Other Types: Conductive Additives; Binders; Current Collector
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value (USD) in 2025 | $70.68 Billion |
| Forecasted Market Value (USD) by 2029 | $107.25 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
Some of the major companies featured in this Battery Materials market report include:
- Asahi Kasei Corporation
- BASF SE
- Mitsubishi Chemical Holdings Corporation
- Sumitomo Corporation
- Umicore NV
- Albemarle Corporation
- Livent Corporation
- Nichia Corporation
- Toray Industries Inc.
- POSCO Holdings Inc.
- Showa Denko KK
- Hitachi Chemical Company Limited
- China Molybdenum Company Limited
- Ganfeng Lithium Co. Ltd.
- MMC Norilsk Nickel PJSC
- Ningbo Shanshan Company Limited
- Saudi Basic Industries Corporation (SABIC)
- Ensinger Group
- DIC Corporation
- Celanese Corporation
- Johnson Matthey PLC
- Lanxess AG
- Glencore PLC
- Norilsk Nickel
- Panasonic Holdings Corporation
- NEC Corporation
- LG Chem
- Toshiba Corporation
- Amperex Technology Limited
- BAK Group
For more information about this report visit https://www.researchandmarkets.com/r/bk2r82
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
