Battery Materials Market Overview:
As per Market Research Future (MRFR)’s assessment, the global battery materials market is expected to thrive at a steady CAGR during the forecast period 2018 to 2025. Batteries have developed applications across automobiles, industrial batteries, electric grid, and power storages. It is poised to aid the proliferation of the market over the next couple of years.
Battery materials are essential components used in manufacturing primary and secondary batteries. These batteries, in turn, have major applications in end-use industries such as automobiles, electronics, electrical grids, and power storages. Batteries have much lower specific energy than common fuels such as gasoline.
Battery Materials are chemicals and metals most widely used to manufacture primary and secondary batteries. These materials exhibit crystallinity, crystal size and shape, porosity, doping, and surface modification. Following these properties, the battery performance is measured based on energy density, power density, stability or cyclability, price, and safety. These batteries have major applications in automobile batteries, industrial batteries, electric grid, and power storages.
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Battery Materials Industry News:
In December 2018, GEM, a Chinese battery firm, has ceased purchasing cobalt from Glencore, which is a mining and trading giant. The transaction has been stopped due to the crashed price of the battery material than that agreed in a three-year deal.
In December 2018, researchers at the University of Stockholm have developed an upgrade for excessively multiplying the lifespan of nickel metal hydride batteries.
In January 2019, BioSolar, Inc., a developer of innovative energy storage technology and materials, has issued a progress update on its endeavors for building commercial grade prototypes in a battery cell format
British multinational speciality chemicals and sustainable technologies company Johnson Matthey (JM) recently revealed that the it had obtained licence under the intellectual property of CAMX. This will allow JM to access the GEMX platform for nickel processing primarily for lithium-ion batteries manufacturing.
BASF is setting up its EV battery materials facility in Harjavalta, Finland to serve the European market. Reportedly, the new facility will be constructed adjacent to Russian nickel and palladium mining and smelting company Nornickel’s nickel and cobalt refinery.
Globe and will prove to be an important driver for battery materials market during the review period. Increasing automobile production and sales along with rising consumption of batteries are estimated to fuel the growth of the market. Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period 2018 to 2025.
Battery Materials Market Competitive Dashboard:
Some of the prominent players operating in the global battery materials market are 3M Company (U.S.), BASF SE (Germany), ENTEK International LLC (U.K), Ecopro Co., Ltd. (South Korea), Hitachi Chemical Company, Ltd. (Japan), E. I. du Pont de Nemours and Company (U.S.), Celgard, LLC (U.S.), The Dow Chemical Company (U.S.), Mitsubishi Chemical Corporation (Japanese), Solvay S.A. (Belgium) and Nippon Denko Co., Ltd. (Japan) among others.
Battery Materials Market Regional Analysis:
The global battery material market, by region, has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Asia Pacific is likely to strike the highest CAGR during the forecast period. The growth of the market can be ascribed to the burgeoning consumer electronics industry. The presence of major producers of battery materials is likely to aid the proliferation of the market in the forthcoming years. Country-level markets such as China, India, Japan, and South Korea are poised to accrue substantial revenue over the next few years owing to the accelerated adoption of electronic gadgets.
Battery Materials Market Table Of Contents to be Continue…...,
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