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Global Battery Material Market to register high demand rate by 2024

Battery Material Market
Battery Material Market

Battery Material Market: Overview

Batteries are products that are required in every household as well as large industries. Different characteristics are seen for batteries of different materials. These materials are selected on the basis of the battery application. The most common types of batteries are alkaline, Li-PO, Li-ion, NiMH and lead-acid. Working principle of the battery is the same irrespective of the material used in it. Use of batteries is seen in the car, electrical vehicles, laptops and mobile phone, drilling machine, medical equipment, backup power system and much more. One of the major types is the lithium battery. It is more effective than the other batteries and has a wide market demand. Developing technologies will result in the expansion of battery material market in the future, especially in the developed countries.

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Battery Material Market: Segmentation

The global battery material market is segmented into its material type, application, and geography. Based on the type, the battery material market is divided into cathode, electrolyte, anode, separator, binder and packaging materials. On the basis of application, the global market is segregated into laptops/notebooks, cellular/mobile phones, power tools, automotive, household devices and others. Asia Pacific, North America, Europe and Rest of the World are the regions into which the global battery material market is diversified.

Battery Material Market: Growth Factors

There is a high demand for battery material in automotive and consumer electronics segment. High revenue is anticipated to be generated through consumption of battery material in electrical vehicles in the coming future. Due to their compact size, long discharge life and high energy density, lithium batteries have a high demand in the market, especially in Asia Pacific. Lead-acid batteries have great importance in the automotive sector and have a high demand in the market. Rising popularity of portable electronics and increasing production of hybrid and electrical vehicles will give the battery material market a greater boost in the future.

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Battery Material Market: Regional Analysis

The largest demand for battery materials is seen in Asia Pacific. Countries such as China, India, South Korea and Japan show a rising demand in this region. Major raw material manufacturers for battery materials are located in Japan. Demand in Asia Pacific is followed by a growing demand in the regions of North America and Europe. In North America, the major market players are located in the U.S. and Canada while in Europe the major countries in the battery material market are the U.K., Belgium, France, and Germany.

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Battery Material Market: Competitive Players

Some of the key companies in the global battery material market are Umicore, Celgard, Toda Kogyo, Jiangxi Zichen Technology Co. Ltd., Huzhou Chuangya Power Battery Materials Co. Ltd., Beijing Institute of Chemical Reagent, ZETO, BTR New Energy Materials Co. Ltd., Shenzhen Sinuo Industrial Development Co. Ltd., Shaneshan Technology, Duracell Inc., Capchem, Eveready Industries, Uniross Batteries, and Energizer Holdings Inc. Other key players in the global market are Panasonic Corporation, Shantou Jinguang Hi-tech Co. Ltd., Hitachi Maxell Ltd., GP Batteries, and Hunan Shinzoom Technology Co. Ltd.

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