Battery Raw Materials Market Share, Trends, Growth, Analysis and Future Business Challenges 2034
Battery Raw Materials Market Growth, Size, Trends Analysis - By Battery Type, By Material Type, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Mar-2025 | Report ID: CHEM2517 | Pages: 1 - 239 | Formats*: |
| Category : Chemical & Materials | |||
Battery Raw Materials Market Introduction and Overview
According to SPER Market Research, the Global Battery Raw Materials Market is estimated to reach USD 139.16 billion by 2034 with a CAGR of 9.07%.
The report includes an in-depth analysis of the Global Battery Raw Materials Market, including market size and trends, product mix, Material Types, and supplier analysis. The global battery raw materials market is expanding rapidly, driven by the rising demand for electric vehicles (EVs), renewable energy storage, and consumer electronics. Key materials like lithium, cobalt, nickel, and graphite are essential for lithium-ion battery production, which dominates the energy storage sector. The key drivers of the market include government incentives for EV adoption, advancements in battery technology, and increasing investments in sustainable energy solutions. The push for higher energy density, longer lifespan, and faster charging is also accelerating innovation and raw material demand. However, challenges such as supply chain disruptions, resource scarcity, price volatility, and environmental concerns pose significant hurdles. Ethical mining practices and the need for sustainable alternatives are key industry focuses.
By Battery Type Insights: The battery type segment of the global battery raw material market is segmented into 3 segments including: Lithium Ion, Lead Acid, Other Batteries. The largest segment and one that contributed significantly to global revenue in 2024 was lead acid batteries. Growth is expected to occur during the projection period. The expansion is fueled by numerous causes such as their cheaper cost of manufacture, established technology, and reliable and robust recycling infrastructure. The market with the fastest rate of growth is lithium-ion battery material. The growing use of consumer electronics, electric vehicles, and renewable energy storage technologies is driving up demand for this kind of battery.
By Material Type Insights: The material type segment of the global battery raw material market is segmented into 3 segments including: Lithium Ion (Cathode Materials, Anode Materials, Separator, Others), Lead Acid (Electrodes, Electrolyte, Separator, Packaging), Other Batteries. In 2024, the lead-acid battery's electrodes section dominated the material segment and generated a significant portion of its revenue. Over the course of the projection period, battery materials are anticipated to see substantial increase. The demand for electrodes has increased due to the widespread use of lead-acid batteries. Over the course of the forecast period, the cathode lithium-ion battery category that uses lithium nickel manganese cobalt oxide (NMC) is expected to develop at the quickest CAGR.
By Application Insights: The material type segment of the global battery raw material market is segmented into 3 segments including: Lithium Ion (Consumer electronics, Automotive, Grid storage, Others), Lead Acid (Automotive, UPS, Telecom, Others), Other Batteries. In 2024, lead-acid battery applications in automobiles dominated the market. Automotive applications have made extensive use of lead-acid batteries due to their established technology, affordability, and dependability. Since they supply the energy required to start the engine and power other electrical components, these batteries are especially well suited for vehicle starting and ignition systems. Over the course of the projected period, lithium-ion battery applications for grid storage are anticipated to increase dramatically.
By Regional Insights: Over the course of the forecast period, the North American market for battery raw materials is anticipated to expand rapidly. With a significant proportion of steel, copper, lead, zinc, iron, oil, and other resources, the area is rich and diverse, making it a good place to build facilities for the production of battery raw materials during the projection period.
Market Competitive Landscape: Some of the key players in the industry include Targray, Nichia Corporation, BASF Catalysts LLC, and DuPont. Targray focuses on sourcing, storing, transporting, and supplying sustainable materials for solar, renewable fuels, batteries, agriculture, and carbon trading. Nichia Corporation, based in Japan, manufactures and distributes fine chemicals like phosphors, battery materials, LEDs, calcium chloride, and laser diodes, operating in multiple countries.
Recent Developments:
- In February 2023, order to meet the rising demand for electric vehicles and energy storage systems in the United States, ENTEK, a U.S.-based maker of lithium-ion battery separator materials, teamed up with Brückner Group USA to expand its battery separator film production line.
- In December 2023, KPIT Technologies, an independent software integration partner in the automotive sector with headquarters in India, introduced their sodium (Na)-ion battery technology. It is anticipated that this technique will lessen reliance on importing essential battery components. Compared to lithium-ion batteries, sodium-ion batteries have a longer lifespan and can be charged more quickly.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Battery Type, By Material Type, By Application. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | BASF Catalysts LLC, Celgard LLC, DuPont, ENTEK, Hitachi, Ltd., Mitsubishi Chemical Group Corporation, NEI Corporation, Nichia Corporation, Targray, Umicore N.V. and others. |
Key Topics Covered in the Report:
- Global Battery Raw Materials Market Size (FY’2021-FY’2034)
- Overview of Global Battery Raw Materials Market
- Segmentation of Global Battery Raw Materials Market By Battery Type (Lithium Ion, Lead Acid, Other Batteries)
- Segmentation of Global Battery Raw Materials Market By Material Type {Lithium Ion, (Cathode Materials, Anode Materials, Separator), Lead Acid (Electrodes, Electrolyte, Separator, Packaging), Other Batteries}
- Segmentation of Global Battery Raw Materials Market By Application {Lithium Ion (Consumer electronics, Automotive, Grid storage, Others), Lead Acid (Automotive, UPS, Telecom, Others), Other Batteries}
- Statistical Snap of Global Battery Raw Materials Market
- Expansion Analysis of Global Battery Raw Materials Market
- Problems and Obstacles in Global Battery Raw Materials Market
- Competitive Landscape in the Global Battery Raw Materials Market
- Details on Current Investment in Global Battery Raw Materials Market
- Competitive Analysis of Global Battery Raw Materials Market
- Prominent Players in the Global Battery Raw Materials Market
- SWOT Analysis of Global Battery Raw Materials Market
- Global Battery Raw Materials Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Battery Raw Materials Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Battery Raw Materials Market
7. Global Battery Raw Materials Market, By Battery Type (USD Million) 2021-2034
7.1. Lithium Ion7.2. Lead Acid7.3. Other Batteries
8. Global Battery Raw Materials Market, By Material Type (USD Million) 2021-2034
8.1. Lithium Ion
8.1.1. Cathode Materials8.1.2. Anode Materials8.1.3. Separator8.1.4. Others
8.2. Lead Acid
8.2.1. Electrodes8.2.2. Electrolyte8.2.3. Separator8.2.4. Packaging
8.3. Other Batteries
9. Global Battery Raw Materials Market, By Application (USD Million) 2021-2034
9.1. Lithium Ion
9.1.1. Consumer electronics9.1.2. Automotive9.1.3. Grid storage9.1.4. Others
9.2. Lead Acid
9.2.1. Automotive9.2.2. UPS9.2.3. Telecom9.2.4. Others
9.3. Other Batteries
10. Global Battery Raw Materials Market, (USD Million) 2021-2034
10.1. Global Battery Raw Materials Market Size and Market Share
11. Global Battery Raw Materials Market, By Region, (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. BASF Catalysts LLC
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Celgard LLC
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. DuPont
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. ENTEK
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Hitachi, Ltd
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Mitsubishi Chemical Group Corporation
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. NEI Corporation
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Nichia Corporation
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Targray
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Umicore N.V
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Battery Raw Materials Market is projected to reach USD 139.16 billion by 2034, growing at a CAGR of 9.07% during the forecast period.
Battery Raw Materials Market grew in Market size from 2025. The Market is expected to reach USD 139.16 billion by 2034, at a CAGR of 9.07% during the forecast period.
Battery Raw Materials Market CAGR of 9.07% during the forecast period.
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Battery Raw Materials Market size is USD 139.16 billion from 2025 to 2034.
Battery Raw Materials Market is covered By Battery Type, By Material Type, By Application.
The North America is anticipated to have the highest Market share in the Battery Raw Materials Market.
The key players in the Market include Companies Covered BASF Catalysts LLC, Celgard LLC, DuPont, ENTEK, Hitachi, Ltd., Mitsubishi Chemical Group Corporation, NEI Corporation, Nichia Corporation, Targray, Umicore N.V. and others.
The global battery raw materials market is expanding rapidly, driven by the rising demand for electric vehicles (EVs), renewable energy storage, and consumer electronics. Key materials like lithium, cobalt, nickel, and graphite are essential for lithium-ion battery production, which dominates the energy storage sector.
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