Lithium Ion Battery Materials Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increasing demand of consumer electronics and portable devices is one of the key growth driving factor for the Global Lithium Ion Battery Materials Market
Lithium Ion Battery Materials Market is valued at USD 10.75 Billion in 2018 and expected to reach USD 16.14 Billion by 2025 with a CAGR of 15.1% over the forecast period.
A lithium-ion battery is a type of rechargeable battery in which lithium ions move from the negative electrode to the positive electrode during discharge and back when charging. It uses an intercalated lithium compound as one electrode material, compared to the metallic lithium in a non-rechargeable lithium battery. It is commonly used as rechargeable batteries for portable electronics, due to its high energy density, tiny memory effect and low self-discharge. It has major applications in military, battery electric vehicle and aerospace sectors. The main component that is used commonly in these batteries is lithium cobalt oxide which offers high energy density but with safety risks. Lithium iron phosphate, lithium ion manganese oxide battery, and lithium nickel manganese cobalt oxide offer lower energy density but longer lives and less possibility of fire or explosion. Such batteries are widely used for electric tools, medical equipment, and other roles. The newer lithium–sulfur batteries promise the highest performance-to-weight ratio.
Lithium-Ion battery market is segmented on the basis of type, component, end-user and region & country level. On the basis of type, it is divided in to Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide. By component the Lithium-Ion battery market is classified into Cathode, Anode, Electrolytic Solution and Others. On the basis of end-user the market is divided in to consumer electronics, marine, aerospace defense, medical, automotive, and industrial.
The regions covered in this Lithium-Ion battery market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Lithium Ion Battery Materials Marketis sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Lithium Ion Battery Materials Market Reports–
Global Lithium-Ion battery market report covers prominent players like Automotive Energy Supply Corporation, Panasonic Corporation, Samsung SDI Co. Ltd., Toshiba Corporation, Hitachi Chemical Co., Ltd., China BAK Battery Co. Ltd., and GS Yuasa International Ltd., Tesla, Johnson Controls International Plc., Saft Batteries, and BYD Company Ltd.
Increasing demand of consumer electronics and portable devices is driving the growth of Global Lithium Ion Battery Materials Market.
Major factor driving the growth of this market is the increasing demand for Li-Ion battery owing to its extensive use for consumer electronics products, as these devices are highly dependent on portable power source for better performance and high reliability. In addition, application of lithium ion batteries in the automotive sector for PHEVs and BEVs helps to improve the efficiency and reduce the maintenance cost of these electronic vehicles is also expected to foster the growth of Li-Ion battery within the forecast period. Furthermore, increasing awareness about using these batteries is also one of the growth factor for this market. For example; various organizations such as China Association of Automobile Manufacturers and Advanced Automotive Battery Conference have undertaken initiatives to increase the awareness regarding use and benefits of EVs and are helping to increase EV adoption rates. Its industrial applications include; lithium-ion battery technology for material handling equipment, cutting machines, drillers and crane pulley systems due to high energy density and longer battery backup over congenital batteries which is further anticipated to drive the market growth. Safety concerns due to overheating of lithium ion batteries and insufficient charging infrastructure in automotive industry can be a restrain for the growth of this market. Decreasing price of Li-Ion batteries leads to use of these batteries in other sector can create more opportunities for this market.
North America is expected to dominate the Lithium Ion Battery Materials Market
North America is expected to gain the largest market share of global lithium-ion battery market within the forecast period owing to the increasing production of electric and hybrid vehicles in this region. APAC is expected to show the significant growth owing to continuous development in consumer electronics and automotive sector. China is leading in Li-Ion battery market share, followed by South Korea and Japan. The consumer spending in developing countries like India and China is also increasing due to urbanization, increasing earnings for household and growing demand for new consumer electronic devices, which in turn increases the demand of Li-Ion battery market. The strict environment rules regarding the carbon emission in North America and Europe, is creating various opportunities for the industry players in the market. In order to deal with the rising environmental issues, the European market is shifting towards the electric vehicles to control the carbon emission from automotive sector. Countries like Germany and Norway are the major players in the European electric vehicles market, resulting in the growth of lithium ion battery market.
Key Benefits for Global Lithium Ion Battery Materials Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Lithium Ion Battery Materials Market Segmentation –
- Lithium Nickel Manganese Cobalt
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Lithium Titanate Oxide
- Lithium Manganese Oxide
- Lithium Nickel Cobalt Aluminum Oxide
- Electrolytic Solution
By End-User Type:
- Consumer Electronics
- Aerospace Defense