Report: sharp growth for battery materials market, driven by EV industry

Batteries

Dallas, Texas market research and consulting company MarketsandMarkets predicts that the global battery materials market will be worth $11.3 billion by 2018. In 2012, its value was $5.1 billion, and the firm estimates a 13 percent compound annual growth rate from 2013 to 2018. They expect electric vehicles to be the key revenue generators for the market’s growth. 

In a 384-page report, “Battery Materials Market – By Types (Cathode, Anode, Electrolyte, Separator, Binders, Packaging Material), Applications and Geography – Trends and Forecasts To 2018,” MarketsandMarkets analyzes the drivers, opportunities and trends in the battery industry broken down by global region. 

Consumer electronics, automotive, power tools, marine and medical equipment, and defense and military industries are the major battery industries. When you take into account the expected growth of electric vehicles and their battery packs’ sheer size, it make sense that the research firm pinpointed EVs as the major battery revenue driver. For example, an iPhone 5s has a 5.96 Wh battery, and the top-end Tesla Model S has an 85 kWh battery pack, over 14,000 times the storage capacity. Of course, the iPhone sells in the millions, rather than the thousands, so to see just how much the EV industry is expected to impact the battery materials market, you’ll have to read the report

MarketsandMarkets details how manufacturing companies, research institutions, and battery makers are investing heavily to advance battery technology in the areas of power density, cycle life, lower cost, higher performance, and environmental friendliness. The Asia-Pacific region leads the way, followed by North America and Europe. The analysis covers major developments, expansions, agreements, and mergers and acquisitions of leading global companies, such as Umicore (Belgium), Toda Kogyo (Japan), Celgard (U.S.), Hitachi Chemical (Japan), and more. 

 

Source: MarketsandMarkets