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13 Sep 2021

Frost & Sullivan: Li-ion Battery Materials Market to Reach $51.60B by 2027 from $18.75B in 2020; 15.6% CAGR

13 Sep 2021  by greencarcongress.com   

Frost & Sullivan projects that the global Li-ion battery materials market will reach $51.60 billion by 2027 from $18.75 billion in 2020 at a 15.6% compound annual growth rate (CAGR). The advancements in battery chemistries and technologies, upsurge in electric vehicle (EV) sales, evolving regulatory scenario, and increasing consumer preferences toward EVs are expediting market growth worldwide.

Asia-Pacific (APAC) dominates the market and continues to be the highest revenue-generating region. China leads the demand and supply of all of the key battery materials, accounting for more than 85% of the total global supply of cathode materials, anode materials, electrolytes, and separators. However, Europe is expected to witness an aggressive expansion in its Li-ion battery and materials manufacturing capacity. It is slated to account for nearly a third of the global Li-ion battery manufacturing capacity by 2027.

To tap into the growth opportunities, Frost & Sullivan suggests market participants should:

Develop advanced battery chemistries composed of lower cobalt content and higher quantities of relatively more abundant nickel, i.e., nickel-rich cathode materials characterized by higher energy density, power capability, longer lifecycle, and improved thermal stability.

Strengthen supply and footprint in Europe by investing in facilities, especially in Poland, Hungary, Finland, and Germany, where major battery manufacturing facilities are expected to come online.

Engage in collaborative partnerships to form strategic licensing agreements with leading manufacturers, enabling a wide range of IP-protected technologies to develop highly customized and specific requirements.

Develop effective recycling processes and infrastructure in collaboration with OEMs by partnering with recycling companies to ensure access to critical raw materials such as cobalt, nickel, and copper.

Global Li-ion Battery Materials Growth Opportunities is the latest addition to Frost & Sullivan’s Chemicals, Materials & Foods research and analyses available through the Frost & Sullivan Leadership Council.

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