DUBLIN--(BUSINESS WIRE)--The "Battery Anode Materials Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The global battery anode materials market is projected to register a CAGR of more than 10% during the forecast period (2022-2027).
Unfavorable conditions arising due to the COVID-19 outbreak hindered the growth of the market in the past year. Also, many end-user industries were impacted due to pandemics. That restricted the growth of the market. However, in 2022, the situation is coming back on track, and now the market is stable and growing steadily.
- One of the major factors driving the battery anode materials market is the increasing demand from the automotive sector.
- However, the stringent safety regulations for batteries through storage and transportation are likely to hinder the expansion of the studied market.
- Research and development of silicon and the lithium-based anode is a major opportunity to drive the market in the future.
- The Asia-Pacific region accounts for the highest market share due to increasing demand in countries like China, Japan, and South Korea.
Key Market Trends
Rising Demand in Automotive Industry
- The market for electric vehicles is expected to grow in the future, driven by the adoption of various environmental norms and emission regulations.
- Owing to environmental concerns and awareness about clean and sustainable fuel, there is a rise in the demand for electric vehicles.
- The anode material in the battery determines how fast the vehicle battery can be charged and, with an increase in the energy density, helps to extend the driving range per charge.
- According to a study, the number of electric cars on the world's roads by the end of 2021 was ~16.5 million, triple the amount in 2018.
- According to the U.S. Department of Energy, in the United States, sales of new light-duty plug-in electric vehicles, including all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), nearly doubled from 308,000 in 2020 to 608,000 in 2021. EV sales accounted for 73% of all plug-in electric vehicle sales in 2021.
- All the aforementioned factors will likely propel the demand for battery anode materials during the forecast years.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy in terms of GDP. China and India are among the fastest emerging economies in the world.
- China is the largest producer & exporter of Consumer Electronics in the world. It is the world's most extensive electronics manufacturing ecosystem with a labor force of electrical goods workers of close to 150 million.
- Furthermore, electric car sales in China were ~3.3 million, nearly triple in 2021 compared to 2018.
- As per the India Brand Equity Foundation, overall, in 2021, 329,190 EVs were sold in India, indicating a 168% YoY growth over last year's sales of 122,607 units.
- Moreover, according to NITI Aayog and Rocky Mountain Institute (RMI), India's EV finance industry is likely to reach USD 50 billion by 2030.
- Due to all the above-mentioned factors, the Asia-Pacific region is expected to see an increase in demand during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Companies Mentioned
- BASF SE
- Hitachi Chemical
- JFE Chemical Corporation
- Johnson Matthey
- Mistubishi Chemical Corporation
- NEI Corporation
- Nippon Carbon Co., Ltd
- Sinuo
- Sumitomo Chemical Co., Ltd
- TCI Chemicals Pvt. Ltd
- TORAY Industries Inc.
- Zichen
For more information about this report visit https://www.researchandmarkets.com/r/vxwbhi
