Battery Metals
Battery Metals Market Forecasts to 2030 - Global Analysis By Type (Lithium, Nickel, Cobalt, Lead acid and Other Types), End User and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $16.66 BN |
|
Projected Year Value (2030) |
US $32.89 BN |
|
CAGR (2023 - 2030) |
10.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Battery Metals Market is accounted for $16.66 billion in 2023 and is expected to reach $32.89 billion by 2030 growing at a CAGR of 10.2% during the forecast period. A vital component of the quickly developing fields of renewable energy storage systems and electric vehicles (EVs) are battery metals. These metals, which are lithium, cobalt, nickel, and manganese, are essential components of rechargeable batteries, which power electric vehicles and store energy from renewable sources like solar and wind power. Moreover, battery metal demand has increased as the world moves closer to a future with lower carbon emissions. As a result of the mining and processing of these metals, there are now worries about possible limitations in the supply chain, ethical sourcing methods, and environmental effects.
According to the International Battery Association, the increasing demand for electric vehicles and energy storage solutions has led to a growing emphasis on the sustainable production and responsible sourcing of battery metals.
Market Dynamics:
Driver:
Growing uptake of electric vehicles (EVs)
One of the main factors propelling the market for battery metals is the increase in the use of electric vehicles (EVs). The automotive industry's transition to more ecologically friendly and sustainable modes of transportation has resulted in a notable increase in the demand for lithium-ion batteries, which are primarily dependent on metals like nickel, cobalt, and lithium. Furthermore, automakers are investing heavily in EV production as a result of consumer preferences for cleaner and more energy-efficient vehicles.
Restraint:
Supply chain weaknesses
The market for battery metals is constrained by weaknesses in the supply chain. The steady supply of essential metals is endangered by the concentration of production in a small number of strategically important geographic areas, which are frequently marked by political unrest or trade disputes. Additionally, geopolitical unrest, natural catastrophes, or logistical difficulties can all cause supply chain disruptions that affect the availability and cost of battery metals, impeding the market's expansion.
Opportunity:
Investments in technologies for recycling
The advancement and funding of recycling technologies present a sizable opportunity for the battery metal market. Recycling battery materials has gained popularity as people become more conscious of environmental sustainability and the circular economy. Moreover, by developing practical and affordable techniques for extracting and repurposing metals from end-of-life batteries, the industry can become less dependent on newly developed mining operations and build a sustainable and eco-friendly supply chain.
Threat:
Regulatory and environmental difficulties
The battery metals industry is under threat from growing public scrutiny regarding the environmental and ethical implications of mining operations. Tighter environmental laws and developing guidelines for ethical sourcing could result in increased operational difficulties and compliance costs. Furthermore, to lessen these risks, proactive steps are required, such as implementing sustainable mining practices and adhering to changing legal requirements.
Covid-19 Impact:
On the market for battery metals, the COVID-19 pandemic has had a variety of effects. A slowdown in the production and demand for electric vehicles and renewable energy projects resulted from lockdowns, disruptions in global supply chains, and a reduction in economic activity during the early stages of the pandemic. Additionally, delays in manufacturing within the automotive sector affected the need for battery metals. But subsequently, there has been a surge in demand due to the emphasis on green recovery programs and growing funding for clean energy projects.
The Lithium segment is expected to be the largest during the forecast period
It is projected that the lithium segment will hold the largest share. The cathodes of lithium-ion batteries, which rule the market for energy storage devices and electric cars (EVs), depend heavily on lithium. Because of its high energy density and low weight, it is an essential component for electric vehicles, portable electronics, and renewable energy storage systems. Moreover, lithium is now leading the battery metals market thanks to the increase in demand for electric vehicles and the world's shift to cleaner energy sources.
The Lithium-ion (Li-ion) segment is expected to have the highest CAGR during the forecast period
In the battery metals market, lithium-ion (Li-ion) batteries have demonstrated the highest CAGR. For a variety of uses, such as energy storage systems, consumer electronics, and electric cars, Li-ion batteries are now the recommended option. Their greater energy density, longer cycle life, and lighter weight when compared to more conventional battery technologies like lead-acid, nickel-metal hydride (Ni-Mh), and nickel-cadmium (Ni-Cd) are the reasons behind their growing popularity. Furthermore, Li-ion battery growth has been significantly fueled by the shift to electric vehicles and the rising need for portable electronics.
Region with largest share:
Asia-Pacific, with China in particular, is anticipated to hold the largest share of the market for battery metals. China's significant investments in electric vehicles (EVs), renewable energy, and battery manufacturing have made it a dominant player in the global battery metals market. Additionally, the nation leads the market largely because of its aggressive clean energy policies and its status as a large consumer of battery metals. China has a significant impact on every stage of the battery supply chain, from the extraction of raw materials to the manufacturing of batteries, which puts the Asia-Pacific area at the center of changes in the dynamics of the battery metals market.
Region with highest CAGR:
The battery metal market is expected to grow at the highest CAGR in North America. The adoption of electric vehicles (EVs) and renewable energy projects have advanced significantly in the region, especially in the US and Canada. Incentives for clean energy technologies, favourable government policies, and rising public awareness of sustainable practices all play a part in driving up battery metal demand in North America. Moreover, North America is positioned to have significant growth potential in the battery metals industry due to the increasing popularity of electric vehicles and the ongoing efforts to improve energy storage infrastructure.
Key players in the market
Some of the key players in Battery Metals market include Glencore International AG, China Molybdenum Co., Ltd, American Battery Metals Corp, Sumitomo Metal Mining Co., Ltd., Gangfeng Lithium Co Ltd, Albemarle Corporation, SQM S.A., Umicore, LG Chem, BASF SE, Vale China Molybdenum Co., Ltd., Gan Feng Li Industrial Co., Ltd, Honjo Metal Co., Ltd. and Bolt Metals Corp.
Key Developments:
In September 2023, Glencore enters offtake agreement with Tantalex Lithium. Tantalex Lithium Resources, a Canada-based exploration and development stage mining company, received and executed a term sheet from Glencore International AG for a marketing offtake agreement for the lithium to be produced from its Manono Lithium Tailings Project in the Democratic Republic of Congo (DRC).
In September 2023, American Battery Technology Co., a Reno, Nevada-based battery materials company commercializing both its primary minerals manufacturing and secondary minerals lithium-ion battery (LIB) recycling technologies, has received its $57 million contract award from the U.S. Department of Energy (DOE) for a multiyear project to design, construct and operate a commercial-scale lithium hydroxide manufacturing facility in Tonopah, Nevada.
In September 2023, Sumitomo Metal Mining and Nano One will partner via Collaboration Agreement. The Companies are pleased to announce that they have agreed to a strategic equity investment in Nano One by SMM of C$16,879,949.85 and to enter into a collaboration agreement under which the parties will work together to accelerate the commercial production of lithium iron phosphate (""LFP""), CAM and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide (""NMC"").
Types Covered:
• Lithium
• Nickel
• Cobalt
• Lead-acid
• Other Types
End Users Covered:
• Transportation
• Consumer Electronics
• Energy Storage Systems
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Battery Metals Market, By Type
5.1 Introduction
5.2 Lithium
5.3 Nickel
5.4 Cobalt
5.5 Lead-acid
5.6 Other Types
6 Global Battery Metals Market, By End User
6.1 Introduction
6.2 Transportation
6.3 Consumer Electronics
6.4 Energy Storage Systems
6.5 Other End Users
7 Global Battery Metals Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Glencore International AG
9.2 China Molybdenum Co., Ltd
9.3 American Battery Metals Corp
9.4 Sumitomo Metal Mining Co., Ltd.
9.5 Gangfeng Lithium Co Ltd
9.6 Albemarle Corporation
9.7 SQM S.A.
9.8 Umicore
9.9 LG Chem
9.10 BASF SE
9.11 Vale China Molybdenum Co., Ltd.
9.12 Gan Feng Li Industrial Co., Ltd
9.13 Honjo Metal Co., Ltd.
9.14 Bolt Metals Corp.
List of Tables
1 Global Battery Metals Market Outlook, By Region (2021-2030) ($MN)
2 Global Battery Metals Market Outlook, By Type (2021-2030) ($MN)
3 Global Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
4 Global Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
5 Global Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
6 Global Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
7 Global Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Battery Metals Market Outlook, By End User (2021-2030) ($MN)
9 Global Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
10 Global Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
11 Global Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
12 Global Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
13 North America Battery Metals Market Outlook, By Country (2021-2030) ($MN)
14 North America Battery Metals Market Outlook, By Type (2021-2030) ($MN)
15 North America Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
16 North America Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
17 North America Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
18 North America Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
19 North America Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
20 North America Battery Metals Market Outlook, By End User (2021-2030) ($MN)
21 North America Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
22 North America Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
23 North America Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
24 North America Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
25 Europe Battery Metals Market Outlook, By Country (2021-2030) ($MN)
26 Europe Battery Metals Market Outlook, By Type (2021-2030) ($MN)
27 Europe Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
28 Europe Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
29 Europe Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
30 Europe Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
31 Europe Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
32 Europe Battery Metals Market Outlook, By End User (2021-2030) ($MN)
33 Europe Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
34 Europe Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
35 Europe Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
36 Europe Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
37 Asia Pacific Battery Metals Market Outlook, By Country (2021-2030) ($MN)
38 Asia Pacific Battery Metals Market Outlook, By Type (2021-2030) ($MN)
39 Asia Pacific Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
40 Asia Pacific Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
41 Asia Pacific Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
42 Asia Pacific Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
43 Asia Pacific Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
44 Asia Pacific Battery Metals Market Outlook, By End User (2021-2030) ($MN)
45 Asia Pacific Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
46 Asia Pacific Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
47 Asia Pacific Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
48 Asia Pacific Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
49 South America Battery Metals Market Outlook, By Country (2021-2030) ($MN)
50 South America Battery Metals Market Outlook, By Type (2021-2030) ($MN)
51 South America Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
52 South America Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
53 South America Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
54 South America Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
55 South America Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
56 South America Battery Metals Market Outlook, By End User (2021-2030) ($MN)
57 South America Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
58 South America Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
59 South America Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
60 South America Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
61 Middle East & Africa Battery Metals Market Outlook, By Country (2021-2030) ($MN)
62 Middle East & Africa Battery Metals Market Outlook, By Type (2021-2030) ($MN)
63 Middle East & Africa Battery Metals Market Outlook, By Lithium (2021-2030) ($MN)
64 Middle East & Africa Battery Metals Market Outlook, By Nickel (2021-2030) ($MN)
65 Middle East & Africa Battery Metals Market Outlook, By Cobalt (2021-2030) ($MN)
66 Middle East & Africa Battery Metals Market Outlook, By Lead-acid (2021-2030) ($MN)
67 Middle East & Africa Battery Metals Market Outlook, By Other Types (2021-2030) ($MN)
68 Middle East & Africa Battery Metals Market Outlook, By End User (2021-2030) ($MN)
69 Middle East & Africa Battery Metals Market Outlook, By Transportation (2021-2030) ($MN)
70 Middle East & Africa Battery Metals Market Outlook, By Consumer Electronics (2021-2030) ($MN)
71 Middle East & Africa Battery Metals Market Outlook, By Energy Storage Systems (2021-2030) ($MN)
72 Middle East & Africa Battery Metals Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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