Wilmington, Delaware , Aug. 22, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Lithium-Ion Battery Anode Materials Market by Material Type (Active Anode Materials, Anode Binders, Anode Foils and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the lithium-ion battery anode materials market was valued at $9.5 billion in 2023, and is estimated to reach $38.4 billion by 2033, growing at a CAGR of 15.1% from 2024 to 2033.
Prime determinants of growth
As the automotive industry undergoes rapid transition towards sustainable and eco-friendly solutions, lithium-ion batteries have become the preferred energy storage technology for electric vehicles. The anode is an essential component in lithium-ion batteries, plays a pivotal role in determining the performance and efficiency of these energy storage systems. In addition, the expanding charging infrastructure for electric vehicles across various regions is fostering consumer confidence in electric mobility, driving further EV adoption. This, in turn, fuels the demand for advanced lithium-ion battery anode materials that can meet the evolving requirements of the automotive industry. All these factors are expected to drive the demand for the lithium-ion battery anode materials market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $9.5 billion |
| Market Size in 2033 | $38.4 billion |
| CAGR | 15.1% |
| No. of Pages in Report | 340 |
| Segments Covered | Material Type and Region. |
| Drivers | Increase in adoption of electric vehicles (EVs) . Demand for high energy density and long cycle life batteries. |
| Opportunity | Expansion of renewable energy storage solutions. |
| Restraint | Raw material price volatility |
Active anode materials segment to maintain its dominance by 2033
By material type, the active anode materials segment held the highest market share in 2023 and is estimated to maintain its leadership status during the forecast period. Active anode materials, primarily consisting of graphite, silicon-based compounds, and lithium titanate, play a crucial role in determining the performance, efficiency, and overall capacity of lithium-ion batteries. Graphite remains the most widely used active anode material due to its favorable electrochemical properties, such as high conductivity, good structural stability, and a high theoretical capacity for lithium-ion storage.
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Asia-Pacific was the fastest growing region in terms of revenue in 2023
Region-wise, Asia-Pacific was the fastest growing region in terms of revenue in 2023. The Asia-Pacific region focuses on electric mobility, with a significant portion of the world's electric vehicle (EV) production and sales in countries such as China and Japan. The increasing popularity of electric vehicles, which depend on lithium-ion batteries, is driving a higher demand for anode materials used in these batteries. In addition, supportive government policies, incentives, and investments aimed at promoting the adoption of electric vehicles and reducing carbon emissions.
Leading Market Players: -
- Mitsubishi Chemical Group Corporation.
- BASF SE
- Nippon Carbon Co., Ltd.
- 3M
- SK Inc.
- Tanaka Chemical Corporation
- Johnson Controls.
- Hitachi High-Tech India Private Limited
- SAMSUNG SDI CO., LTD.
- GS Yuasa International Ltd.
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The report provides a detailed analysis of these key players in the global lithium-ion battery anode materials market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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