Is the global battery material market good in 2018?

According to Markets and Markets, the global battery materials market is expected to grow from $43.5 billion in 2018 to $65.78 billion in 2023, with a compound annual growth rate of 8.62%.

The Asia Pacific region will lead the global battery materials market. Cathodes, anodes, electrolytes and separators are the main components of the battery system. Different materials are used to make cathodes, anodes, electrolytes and separators for different rechargeable batteries. Lead-acid battery materials and lithium-ion battery materials account for the majority of the global market.

In 2018, lead-acid batteries will become the largest battery type in the battery material market. This large share can be attributed to its renewability and increasing use in backup power, emergency lighting, utilities, security systems, rail backup systems, oil and gas, renewable energy systems and other applications. Batteries reduce carbon emissions and provide renewable and recyclable energy.

Lead dioxide is the preferred cathode material for the manufacture of lead-acid batteries. The cathode is the most used part of the lead-acid battery material because it constitutes the largest part of the lead-acid battery. In addition, as cathode material manufacturers create a balance between high quality and low price, the increase in investment in high-capacity and low-price materials innovation will drive the cathode materials market.

By 2023, the Asia Pacific region will become the largest battery material market. The battery materials market in the Asia Pacific region is mainly driven by the growth in demand for battery materials in China. Significant investments in automotive, electronics and energy storage systems are key factors driving the Chinese battery materials market. The government's support, the existence of a strong manufacturing base, and the increasing investment of auto companies in electric vehicles are driving the global battery materials market.

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