Battery Materials Market Size to Reach USD 83.43 Billion by 2026; Deal between Silatronix and Hitachi Chemical to Create Market Opportunities

The global battery materials market size is predicted to reach 83.43 billion by 2026. The rising usage of renewable energy sources will lead to a high demand for lead-acid batteries, which, in turn, will boost the battery materials market trends during the forecast period. Besides, the surge in motor vehicle demand among consumers will have a positive impact on the market growth for battery materials in the forthcoming years, mentioned in a report, titled “Battery Materials Market Size, Share & Industry Analysis, By Battery Type (Lithium-Ion, Lead Acid), By Material (Lithium-Ion {Cathode [LCO, NMC, NCA, LMO, LFP]), Anode [Artificial Graphite, Natural Graphite], Electrolyte, Separator), (Lead Acid {Cathode, Anode, Electrolyte, Separator}), By Application, and Regional Forecast, 2019-2026” the market size stood at USD 44.25 billion in 2018 and is predicted to register a CAGR of 8.3% between 2019 to 2026.

Agreement between Silatronix and Hitachi Chemical to Promote Market Growth

Hitachi Chemical Company, Ltd, leader and manufacture of chemical products, including semiconductors and LCDs, industrial materials, and processed synthetic resins signed an agreement with Silatronix, a major producer of patented Organosilicon (OS) materials that enable extreme performance in Li-ion batteries. The deal between the companies will include the manufacturing, sales, use of Silatronix’s patented organosilicon compounds for use as electrolyte materials.

With the combination of electrolyte in application with Silatronix’s organosilicon compounds as an additive with Hitachi Chemical's anode materials for lithium ion batteries, it will become achievable to lengthen the battery life and thus, improve the storage stability of batteries at higher temperatures. The new licensing agreement between the companies will uplift the battery materials market share during the forecast period owing to the combination Silatronix’s organosilicon compounds, which will enable and help in evaluating the performances and other aspects of batteries to consider the commercialization of the additive for electrolyte materials in the market.

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https://www.fortunebusinessinsights.com/industry-reports/battery-material-market-101074

Deficient Infrastructure to Dwindle Market Prospects

The lack of infrastructure to charge electric vehicles in developing countries will hamper the growth of the market in the foreseeable future. This factor will also limit the demand for electric and hybrid vehicles, which in turn, will restrict the market growth. Moreover, the focus of car manufacturers on the development of powerful hybrid vehicles. For instance, in 2017, Toyota partnered with Suzuki to offer affordable hybrid and electric cars mainly for the Indian market. Nonetheless, the poor charging infrastructure the country will constrain companies to launch passenger electric vehicles in the Indian market. In addition, the insufficiency of funds for the construction of electric charging infrastructure will lead to a decline in electric vehicle sales, which in turn, will dampen the growth of the market.

High R&D Investments by Key Players to Spur Business Opportunities

The prominent players in the market are focused on investing in the production of batteries while also enhancing their manufacturing infrastructure. For instance, in March 2019, Asahi Kasei, a global Japanese chemical company announced the expansion of its manufacturing infrastructure for Li-ion battery (LIB) separator to be completed by 2021. Companies are also emphasizing technological advancements intending to provide a long life cycle, high power density, environment friendly, high performance, and low-cost batteries to customers. For instance, Dr. Hun-Gi Jung and his research team at the Center for Energy Storage Research of the Korea Institute of Science and Technology developed silicon anode materials that will increase the battery capacity as compared to graphite anode materials and enabling rapid charging up to 80% capacity in five minutes.

The List of Key Companies in the Battery Materials Market include:

• NICHIA CORPORATION


• NEI Corporation


• TCI Chemicals (India) Pvt. Ltd.


• Targray Technology International


• Mitsubishi Chemical Holdings


• Hitachi Chemical Co., Ltd.


• TORAY INDUSTRIES, INC.


• Shanghai Shanshan Tech Co., Ltd.

Further Report Findings:

• Regional Analysis: The market in North America generated a revenue of at USD 8.4 billion in 2018 due to the rapid adoption of electric vehicles along with increasing consumer electronics sale in the region. Asia Pacific is predicted to witness high demand during the forecast period owing to the rapid commercialization and industrialization in India and China.


• Leading Segment: Li-ion battery is predicted to dominate the market for battery materials during the forecast period owing to the rising innovation, improvement, and reduction in the production cost of batteries by companies.

This Market is Segmented into