Global battery raw material is expected to witness high growth over the forecast period owing to increasing use of portable devices, laptops, household devices, and cars, which are major application areas. Growing lithium batteries demand, mainly for consumer electronic products, is expected to further enhance overall market growth in future.
Developing economies such as India, China, South Korea, and Vietnam are also showing advancements in consumer electronics and automotive industries, which are driving the need for batteries in these products. Therefore, huge demand for batteries in these industries is expected to drive the global demand over the forecast period.
Battery, mainly lithium, is also finding new applications including hybrid cars, electric vehicles, and plug-in hybrid vehicles. The demand for these innovative transportations is expected to spur over the forecast period owing to the driving need for fuel alternatives for transportation. High need for lithium battery in these systems is expected to drive overall market growth in future.
One of the major issues associated with battery raw material is safety problem. They require high safety during its operating usage, which is expected to hinder the global industry demand over the forecast period. Other major restraint for the market is ultra capacitors.
These capacitors are gaining importance globally as its huge storage capacities are making electrolytic capacitors comparable to rechargeable batteries. Global industry is segmented based on the type and the application. Lithium, magnesium, lead, and cobalt are major battery raw materials.
Battery manufacturers are expected to experience high raw material prices over the forecast period, which is expected to influence the value chain in future. Type segment includes cathode, electrolyte, anode, and separator.
Based on application, the market is segmented into digital cameras, camcorders, laptops, portable devices, cellular, household devices, automotive, and other. Household devices are the major application segment followed by consumer electronic devices. Automotive segment is expected to grow at a highest growth rate owing to the driving need for battery vehicles.
North America led the global market owing to stringent environment regulations, which has tightened the emission rules coupled with high battery consumption for consumer electronic devices. The regional market is also driven by government initiatives to promote use of battery-based transportation.
North America was followed by Europe. The market was driven by high consumption of household devices, laptops, etc. Strict regulation standards by the REACH are expected to promote battery for industrial and transportation applications, which in turn is expected to drive regional industry growth in future.
Asia Pacific is expected to witness the highest growth over the forecast period owing to emerging demand for highly energy-efficient equipment such as camera phones, high performance portable devices & gadgets, and digital cameras.
Middle East & Africa and Central & South America are also expected to experience significant growth in future owing to increasing demand in transportation, automotive, and electronic industries. Global industry is highly fragmented in nature.
Major market players are Valence Technology Inc., BYD Company Limited, Saft Groupe, Battery Technology Inc., TCL Hyperpower Batteries Inc., Danionics A/S, GP Batteries International Limited, E-One Moli Energy Ltd., Energizer Holdings Inc., Spectrum Brands Incorporated, Varta Consumer Batteries GmbH & Co., Samsung SDI Co. Ltd., and Itochu Corporation.
Other companies are FDK Corporation, Sony Corp., Duracell International Inc., Sanyo Electric Co. Ltd., Eveready Industries India Ltd., Hitachi Maxell Ltd., GS Yuasa Corp., Panasonic Corporation, LG Chem, Uniross Batteries, 3M, Umicore, Asahi Kasei Corporation, Ube Industries Limited, BASF, Toda Kogyo Corporation, Entek International, LLC, and The Dow Chemical Company.
Industry participants are expected to undertake huge number of expansion projects over the forecast period. Established companies such as BASF, Ube Industries Limited, and Itochu Corporation are expected to be the most active companies focusing on new application lines in future.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."