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2020
Battery Metals Market

Battery Metals Market

by Metals Type (Lithium, Cobalt, Nickel, and Others) and Application (Consumer Electronics, Electric Mobility, Energy Storage Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A07179
Pages: 346
Sep 2020 | 7037 Views
Author(s) : Saurabh D, Rutuja D , Eswara P
Tables: 200
Charts: 80
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Battery Metals Market Outlook - 2027

The global battery metals market size was valued at $11.3 billion in 2019, and is projected to reach $20.5 billion by 2027, growing at a CAGR of 8.2% from 2020 to 2027.

Battery is the most significant part in various key applications, including electric vehicle, off grid battery storage, and consumer electronics. Recently, increase has been witnessed in investment toward research & development longest running and high-efficiency batteries. Battery metals plays key role in the cathode and other parts in the battery composition. Lithium is found in both the cathode and anode of the lithium-ion battery, and thus is an integral battery metal in the market. 

Battery-Metals-Market,-2020-2027

The growth of the global battery metals market is driven by surge in demand for consumer electronics devices such as smartphones, laptops, and tablets and increase in demand for battery metals from the electronic vehicles industry. In addition, rapid growth in the renewable energy sector and electric vehicle sector are projected to fuel the battery metals market growth. However, increase in battery waste and risk of metals supply security due to international trade relations are the key factors restraining the market growth in the upcoming years. On the contrary, higher energy efficiency requirements in technologically updated consumer gadgets is expected to create opportunity for key players in the market.

For the purpose of analysis, the global battery metals market is segmented into metal type, application, and region. Depending on metal type, the market is categorized into lithium, cobalt, nickel, and others. The applications covered in the study include consumer electronics, electric mobility, energy storage systems, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global battery metals market are Glencore International AG, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Tianqi Lithium, Vale, China Molybdenum Co., Ltd., SQM S.A., Gan Feng Lithium Co., Ltd., and Norlisk Nickel. Other players operating in the market are Bolt Metals, Galaxy Resources Limited, BHP Group, and Anglo American Plc.

Key players in this market are adopting various key strategies such as partnership, technology launch, agreement, acquisition, and collaboration to stay competitive in the market. For instance, Norlisk Nickel (metal & mining company) signed an agreement with BASF and Fortum on battery recycling in Harjavalta, Finland. This agreement is aimed at serving electrical vehicle market by re-using metals in used batteries.

The battery metals market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020–2027. The report includes the study of the battery metals market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Battery Metals Market
By Metal Type

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Lithium is projected as the most lucrative segment.

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Battery metals market, by metals type

By metals type, the lithium metals held the largest market share in the year 2019, owing to increase in demand for lithium-ion batteries from the electric vehicle and consumer electronics industries. Moreover, lithium ion batteries possess lightweight, high energy density, and requires low maintenance, which drive the market growth for lithium metals.

Battery Metals Market
By Applications

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Consumer electronics is projected as the most lucrative segment.

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Battery metals market, by application

On the basis of application, the consumer electronics segment dominated the global battery metals market in 2019, in terms of share, owing to the increase in demand for consumer electronics gadgets such as smartphones, laptops, CPUs, and tablets. China registered the highest market share in the battery metals market for consumer electronics attributed to increase in demand for smart gadgets.

Battery Metals Market
By Region

2027
Europe 
North America
Asia-Pacific
LAMEA

Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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Battery metals market, by region

Asia-Pacific garnered the highest share in the battery metals market in 2019, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the presence of key players and huge consumer base in the region. In addition, rise in demand for smart gadgets in the countries such as China and India is increasing the demand for batteries, which further drives the growth of the battery metals market during the forecast period.

COVID-19 impact on the market

Lockdown imposed due to the outbreak of the COVID-19 pandemic has resulted in temporary ban on the import and export, thereby disrupting the supply chain and hampering the battery metals market growth in the second, third, and fourth quarter of 2020. However, the market is expected to recover in the late year or by the first quarter of 2021 as the production of electric vehicles and other batteries restarts. 

Key Benefits For Stakeholders

  • The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.
  • A comprehensive analysis of the factors that drive and restrict the growth of the global battery metals market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the global battery metals market growth, in terms of value.
  • Key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current global battery metals market trends and future estimations from 2020 to 2027, which helps to identify the prevailing market opportunities.

Battery Metals Market Report Highlights

Aspects Details
By Metals Type
  • Lithium
  • Cobalt
  • Nickel
  • Others
By Application
  • Consumer Electronics
  • Electric Mobility
  • Energy Storage Systems
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, UK, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Glencore International AG, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Tianqi Lithium, Vale, China Molybdenum Co., Ltd., SQM S.A., Gan Feng Li Industrial Co., Ltd., Norilsk Nickel
 

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Rapid growth of the electric vehicle market is the key factor driving the growth of the Asia-Pacific battery metals market. In addition, the market in this region is expected to provide lucrative opportunities to leading battery metals manufacturers, owing to its huge potential to set up manufacturing plants and surge in demand for battery metals.

Increase in demand for electric vehicles & consumer electronics and rapid growth of the renewable energy sector are the key factors driving the growth of the global battery metals market. However, increase in battery wastes and risk of battery materials supply security are expected to hamper the growth of the battery metals market. Conversely, increase in investment on electrification of remote & rural area and higher energy efficiency requirements in technologically updated consumer gadgets are anticipated to provide remunerative opportunities for key players.

Renowned global market leaders such as Gan Feng Lithium Co., Ltd. and Umicore are adopting various key growth strategies to strengthen their market position in the battery metals market. Furthermore, these companies are focused on agreement, collaboration, and partnerships to cater to the increasing demand for battery metals.

Among the analyzed regions, Asia-Pacific is likely to account for the highest revenue in the market throughout the forecast period, followed by North America, Europe, and LAMEA.

 

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FREQUENTLY ASKED QUESTIONS?

A. In terms of revenue growth, the CAGR of the global battery metals market is 8.2% by 2027.

A. Increase in government initiatives & investments in the electrification of rural and remote areas and higher energy efficiency requirements in the technologically updated smart gadgets are the key trends in the battery metals market.

A. The potential customers of the battery metals market are Automotive, Renewable, Power, and others.

A. On the basis of metals type, lithium segment will drive the battery metals market growth during the forecast period. On the basis of application, consumer electronics segment will drive the growth of the battery metals market.

A. The applications of the battery metals market are in consumer electronics, energy storage systems, e-mobility and others.

A. Top players in the battery metals market are Glencore International AG, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Tianqi Lithium, Vale, China Molybdenum Co., Ltd., SQM S.A., Gan Feng Lithium Co., Ltd., and Norlisk Nickel.

A. In terms of revenue, the market size of battery metals market is anticipated to reach $20.5 billion by 2027.

A. Asia-Pacific will provide business opportunities for battery metals market during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the existence of key players in the region. Moreover, presence of the developing countries such as China, Japan, Australia, and India are anticipated to contribute toward the growth of the battery metals market in Asia-Pacific region.

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