Battery Materials Market
Battery materials are chemicals and metals most widely used to manufacture primary and secondary batteries. These materials exhibit crystallinity, crystal size and shape, porosity, doping, and surface modification. Following these properties, the battery performance is measured based on energy density, power density, stability or cyclability, price, and safety. These batteries have major applications in automobile batteries, industrial batteries, electric grid, and power storages.
As per our analysis, some of the prominent market factors and trends identified in the global battery materials market include rapid industrialization, rising demand for efficient batteries for vehicles, and increasing expenditure on electric grid constructions. Moreover, demand for battery materials is predicted to witness significant growth over the assessment period due to surging portable electronics manufacturing industries. Rising innovation and technology anticipates electric vehicles (EVs) to replace the majority of gasoline powered transportation, this will significantly reduce greenhouse gas emissions across the globe and will prove to be an important driver for battery materials market during the review period.