Battery Materials Market – Overview
The Global Battery Materials Market is growing with the impulsive pace; owing to the growing automotive industry. According to a recent study report published by the Market Research Future, The global market of Battery Materials is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Battery Materials is driven by the region Asia pacific, owing to the rise in the digital transformation resulting in to increasing demand for electronic gadgets manufacturing industries among others. Battery Materials are extensively used in the automotive manufacturing to supply uninterrupted power. Battery materials enhances the brightness and improve the quality of pulp. Paramount environment concerns prompt the use of batteries in electronic gadgets due to their explosive nature if they are not utilized properly.
Rising middle class population and purchasing power defines the growth of automotive industries. Moreover growing industries such as electric grids, power storages, and electric vehicles provide momentum to the Battery Materials Market growth.
On the other hand, many battery chemicals are corrosive, poisonous or both. If leakage occurs, either spontaneously or through accident, the chemicals released may be dangerous and resulting in to further hampering the Battery Materials Market growth.
Battery Materials are high value added and low production volume chemicals and can also be termed as performance chemicals. It is high added value products used as anode, cathode, electrolyte, separators, and binders are utilized in a wide variety of applications. Battery Materials are used in manufacturing zinc carbon, alkaline, lithium ion, and lead acid battery products.
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Lithium ion battery is most widely used in portable electronics after that alkaline batteries used in automotive industry is most popular.
Battery materials Market – Competitive Analysis
The Battery Material Market appears to be competitive with the presence of several large and small players operating in the Battery Materials Market. These key players compete based upon pricing, quality, technology and reputation. Battery Materials Market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the battery materials Market strive to respond to the growing demand for Battery Materials from the portable electronic industry attributed to the battery material market growth over the forecast period. Furthermore, presence of many major manufacturers’ leads to the heavy competition in order to sustain and provide better innovative and cost efficient battery materials is anticipated over the forecast period.
Industry/ Innovation/ Related News:
October 2016 – Mitsubishi Chemical Corporation (Japanese), Ube Industries, Ltd. and Mitsubishi Chemical Corporation announced today that they have agreed to a tie-up for the lithium-ion battery electrolyte business in China. This is expected to encourage the portable electronic manufacturers and drive the battery materials regional market growth rate over the forecast period.
February 2017 – Kemira (Finland), Solvay announces today the acquisition of Energain™ Li-Ion high voltage technology from DuPont. Energain™ technology and formulations enlarge Solvay Special Chem Global Business Unit’s existing portfolio of high performance salts and additives for electrolytes and strengthen its capabilities to develop further innovative high-voltage solutions for Li-ion batteries. The advanced Li-ion battery market is rapidly developing, driven by more stringent regulations and continuous improvements in battery performance and cost. The power and durability of Li-Ion batteries determine the efficiency and reliability of eco-friendly transportation as well as electrical and electronic devices that have all become integral to our daily lives.
December 2017 – BASF SE (Germany) a global provider of fine battery materials, has announced that BASF and TODA KOGYO CORP. (TODA) two significant steps to further enhance their collaboration. A strengthening of production capabilities both in the United States and Japan will help enable e-mobility and generate business opportunities for the two companies. Furthermore, both parties announced their plan to collaborate in the United States. Manufacturing facilities in Elyria, Ohio, and Battle Creek, Michigan, will be combined to form BASF Toda America LLC (BTA). This new entity, majority owned and controlled by BASF, will provide unique solutions supporting customers’ needs in high energy CAMs and will establish a strong position for BTA in the fast-growing North American e-mobility market.
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