DUBLIN--(BUSINESS WIRE)--The "Battery Metals Market by Metals Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global battery metals market was valued at $11. 3 billion in 2019, and is projected to reach $20. 5 billion by 2027, growing at a CAGR of 8. 2% from 2020 to 2027.
Battery metals are the raw materials used in the production of batteries such as lithium, nickel, cobalt, manganese, and graphite. These battery metals are increasingly used in batteries for electric vehicles, consumer electronics, and other applications. Lithium metals are extracted from the brines and hard rock deposits present in the economies such as China, Americas, Australia, Canada, Brazil, and Portugal. Cobalt is most widely used as the cathode material in the lithium-ion batteries. Nickel is used in battery applications, owing to its high energy density and storage capacity.
Surge in penetration of smartphones, tablets, and other electronic devices significantly contribute toward the growth of the global battery metals market. In addition, increase in demand for electric vehicles/hybrid electric vehicle from both developed and developing economies across the globe is projected to fuel the growth of the battery metal market from 2020 to 2027. Moreover, rapid growth of the renewable energy industry is expected to boost the demand for batteries, which, in turn, drives global battery metals market.
However, increase in battery waste and high risk of battery material supply security due to international trade relations are expected to hamper the growth of the battery metals market, globally. Conversely, increase in investment toward electrification of remote and rural area is expected to create potential growth opportunity for key player operating in this market. Furthermore, higher energy efficiency requirements in technologically updated consumer gadgets is expected to offer remunerative opportunities for the expansion of the global market.
The global battery metals market is segmented into metals type, application, and region. Depending on metal type, it is categorized into lithium, cobalt, nickel, and others. The applications covered in the study include consumer electronics, electric mobility, energy storage systems, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.
- A comprehensive analysis of the factors that drive and restrict the growth of the global battery metals market is provided.
- Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the global battery metals market growth, in terms of value.
- The key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current trends and future estimations from 2020 to 2027, which help to identify the prevailing market opportunities.
Market Dynamics
Drivers
- Surge in Demand for Smartphones, Tablets, and Other Electronic Devices
- Increase in Demand for Electrical Vehicles/Hybrid Electric Vehicles/Plug-In Hybrid Vehicles (Ev/Hev/Phv)
- Rapid Development in the Renewable Energy Sector
Restraints
- Increase in the Battery Wastes and Risk of Supply Security
Opportunity
- Increase in Investment on Electrification of Remote & Rural Area
- Higher Energy Efficiency Requirements in Technologically Updated Consumer Gadgets
Key Market Players
- Glencore International AG
- Albemarle Corporation
- Sumitomo Metal Mining Co., Ltd.
- Umicore
- Tianqi Lithium
- Vale
- China Molybdenum Co., Ltd.
- SQM S. A.
- Gan Feng Lithium Co., Ltd.
- Norlisk Nickel.
- Other players operating in the battery metals market are Bolt Metals, Galaxy Resources Limited, BHP Group, and Anglo American Plc.
For more information about this report visit https://www.researchandmarkets.com/r/5vkfqv
