ResearchAndMarkets.com has released the “Lithium-Ion Battery Materials Market by Battery Chemistry (LFP, LCO, NMC, NCA, LMO), Material (Cathode, Anode, Electrolyte), Application (Portable Device, Electric Vehicle, Industrial, Power Tool, Medical Device), & Region – Global Forecast to 2029” report.
The report analyzes the lithium-ion battery materials market, organized by application, battery chemistry, material, and region. It includes detailed information pertaining to the drivers, restraints, opportunities, and challenges influencing the growth of the market.
The lithium-ion battery materials market is projected to grow from $41.9 billion in 2024 to a staggering $120.9 billion by 2029, according to its key findings.
The growing need for batteries in a variety of industries is driving the surge in demand, including EVs, consumer electronics, and energy storage systems.
The portable devices segment is expected to take up the second-largest share in the forecast period, due to factors including the growing popularity of remote work, online education, and the continuous releases of smart gadgets.
Lithium iron phosphate is expected to have the second-largest share of the lithium-ion battery materials market, due to its safety features, high cycle life, and cost-effectiveness. It is less susceptible to overheating and is stable at higher temperatures, proving useful for energy storage systems, electric buses, and certain EVs.
North America is projected to have the second-largest share of the lithium-ion battery materials market due to the region’s demand for EVs and growing reliance on renewable energy solutions.
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