SUSTAINABLE BATTERY MATERIALS MARKET, SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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The global transition towards sustainability and clean energy is driving significant growth in the battery materials market. With worldwide ambitions to curb greenhouse gas emissions and expand the use of renewable energy sources, batteries are seen as a key enabling technology to support these goals. Batteries allow surplus power from solar and wind farms to be stored and used when natural generation is low, and are powering more electric vehicles on the road which produce zero direct emissions.  Countries and corporations around the world have announced aggressive targets and investments in clean energy and electric transportation infrastructure. For example, the EU has committed to fitting 30 million zero-emission vehicles on European roads by 2030 through its ‘Fit for 55’ package. In the US, the Biden administration aims to make half of all new vehicles sold in 2030 zero-emissions, including battery electric, fuel cell and plug-in hybrid vehicles. To support these ambitious targets, battery material supply chains must rapidly scale up. Metals such as lithium, cobalt, nickel and manganese will be in high demand for battery cathodes. Other materials like graphite, separators and electrolytes will also see increased needs.

• Ascend Elements
• BASF SE
• TCI Chemicals Pvt. Ltd
• Mitsubishi Chemical Holdings
• TORAY INDUSTRIES INC.
• Kureha Corporation
• Umicore Cobalt & Specialty Materials
• NEI Corporation
• NICHIA Corporation
• Hitachi Chemical Co. Ltd
• Asahi Kasei 
• Epsilon Advanced Materials