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

Regional Analysis

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North America remains the dominant leader in the global sustainable battery materials market with estimated 37.8% share in 2024. The region has a strong presence of major battery material manufacturers, several R&D centers and a robust supply chain network, thus, allowing it to cater to the growing domestic demand. The U.S., being a pioneer in industrialization and technology, also has favorable government policies supporting battery innovation. It is a hub for manufacturing lithium-ion battery chemistries that are key to powering electronics and EVs. Several battery gigafactories are also being set up in the region by top players to ensure supply security. Imports of battery-grade raw materials like lithium, cobalt and graphite are high to bridge the gap between local availability and production needs. However, recycling programs are being strengthened to improve resource security and manage e-waste in an environmentally responsible manner.

Asia Pacific has emerged as the fastest growing regional market in recent years and is expected to sustain this momentum. China, with its large electronics market and push for new energy vehicles, has become the global production capital for lithium-ion batteries. The country hosts a significant number of cathode and anode material manufacturing facilities. South Korea and Japan also have a sizable presence across the battery manufacturing value chain. Investments are increasing in these countries to expand capacities of advanced lithium-rich nickel-manganese-cobalt (NMC) type cathode chemistries. The availability of raw materials, low production costs and focus on deploying batteries locally are driving regional demand. Several Southeast Asian nations are also trying to gain a foothold in the global supply chain by developing their mining and recycling sectors. This will help meet the accelerated requirements from the EV and energy storage industries.