Battery Metals Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2020-2027

The global Battery Metals market size is expected to be worth around US$ 17.7 billion by 2027, according to a new report by Vision Research Reports.

The global Battery Metals market size was valued at US$ 14.7 billion in 2019 and is anticipated to grow at a CAGR of 2.3% during forecast period 2020 to 2027.

Growth Factors

The increasing requirement of batteries in  electric vehicles and energy storage systems is boosting market growth. Battery structure consists of 5 major components; casing, electrodes, separator, electrolyte, and collector. Metals are majorly used in electrodes with different chemistries. Various metals are utilized in batteries, where lithium, cobalt, and nickel account for major share. Lithium-based batteries’ prominence is increasing owing to its rapid adoption in electric vehicles and energy storage systems.

Nickel is a major component in lithium-ion and other rechargeable batteries and its adoption is increasing at an accelerated rate, owing to its phenomenal properties and low cost. In near future, batteries are expected to form a major cost component in electric vehicles and other applications, and hence, it becomes vital for manufacturers to lower the manufacturing cost.

Cobalt, one of the largest product segment of the market is witnessing a declining demand trend owing to its high cost and growing concerns towards human rights and child labor during its mining in Democratic Republic of Congo. Factors including human and financial costs and high demand for energy density have propelled battery makers to reduce the reliance on cobalt. For instance, major manufacturers such as SK Innovation and LG Chem are in the process of developing cathodes with NMC 811 chemistry that consists of 80.0% nickel and 10.0% cobalt.

Electric vehicles (EV) is fastest growing application segment of the market. The consumption of metals in producing EV battery is increasing, as unlike conventional vehicles, EVs require large battery owing to absence of internal combustion engine. Increasing EV production is anticipated to surge demand for battery metals in near future.

Global EV stock crossed the 5.0 million mark in 2018 and the production is anticipated to further grow at a steady rate during the coming years. However, the covid-19 pandemic had a major hit on the automotive manufacturing and other sectors as well, which declined the production and consumption of batteries in 2020. The overall impact and duration of covid-19 on the world is unknown, but, considering the government initiatives in certain countries to resume manufacturing under strict protocols may uplift market growth.

Asia Pacific was the largest regional segment in 2019 and this trend is expected to continue over the forecast period. Factors such as rapid development in the EV industry propelling battery demand, China’s dominance over the supply chain, and increasing production capacities in Japan and India are propelling market growth in the region.

Report Highlights

Starter, lighting, and ignition (SLI) accounted for largest revenue share of more than 27.01% in 2019. SLI has been the key application area in the market for battery metals during past many years. SLI battery is used in conventional vehicles for starting and igniting the engine and provides electricity to the car. It is essential owing to its power density, as starting an engine requires large currents for short periods, around 300 amperes for few seconds. Considering the impact on environment and other disadvantages, this application segment is expected to witness least growth rate across the forecast period, owing to declining demand for conventional vehicles, which are being replaced by electric vehicles.

Lithium accounted for the largest share of more than 30.01% in 2019, in terms of volume in the market for battery metals. Increasing demand for lithium-ion batteries from EV industry and consumer electronics is anticipated to drive demand for battery metals over the forecast period. Growing demand for lithium-ion cells has propelled manufacturers to expand their production capacities. Companies such as LG Chem, BYD, NorthVolt, and CATL are engaged in the manufacturing of lithium-ion cell plant projects with an annual capacity of 70, 60, 32, and 24 GWh respectively. The projects are expected to reach completion by 2021.

Asia Pacific dominated the market and accounted for revenue share of 87.6% in 2019. This trend is expected to continue over the forecast period. This share is attributable to China as it is the largest battery manufacturer in the world. The manufacturing capacity of China is owing to its dominance over the supply chain. It holds a share of more than 20.0% in supplying battery metals to the world and also has the largest chemical production capacity of battery-grade raw materials, which is around 80.01% of the world. Considering its dominance, it is the main driver for the future global automotive industry, post Covid-19 pandemic.

Europe accounts for a meager share in the global battery production capacity, as a result, it has a lot of potential in terms of growth. Manufacturers across the world are investing in Europe for setting up plants in the region, which is augmented by growing demand from EV industry. For example, in October 2019, Webasto began production of batteries for EVs in Germany at Schierling plant in Regensburg. The company has made an investment of €11 million and anticipates starting production of standard battery systems for commercial vehicles as well.

Key Players

  • Albemarle

  • China Molybdenum Co., Ltd.

  • Ganfeng Lithium Co. Ltd.

  • Glencore

  • Sumitomo Metal Mining

  • Umicore

  • Vale

Market Segmentation

  • Application Outlook

    • Starter, lighting, and ignition (SLI)

    • Electric vehicles (EVs)

    • Electronic devices

    • Stationary battery energy storage (BES)

    • Others

  • Product Outlook

    • Lithium

    • Cobalt

    • Nickel

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

      • Japan

      • South Korea

    • Central & South America

    • Middle East & Africa

The Battery Metals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Battery Metals market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Battery Metals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Battery Metals market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Battery Metals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Battery Metals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Battery Metals by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Battery Metals market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Battery Metals market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Battery Metals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Battery Metals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Battery Metals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Battery Metals market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Battery Metals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Battery Metals market. These factors have benefited the growth of the global market for Battery Metals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Battery Metals. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Battery Metals are as follows:

  • Historic Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Report Detail

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