The battery raw material market is expected to be worth USD 97.8 billion globally, with a compound annual growth rate (CAGR) of 8.7% anticipated over the course of the forecast year. The market is expanding due to the growing need for lithium-ion batteries in the automotive industry. Globally, the number of electric vehicles is increasing significantly, and the market is expanding due to the growing use of renewable energy sources.

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Growth Drivers
Lithium-ion battery demand is being driven by the growing use of consumer gadgets, electric vehicles, and renewable energy storage technologies. Another alternative is lead-acid batteries, whose rising demand is fueling the market for battery raw materials. More rules pertaining to the proper management of hazardous materials are another factor propelling the market's expansion. One of the main drivers of the market's notable expansion is the rise in the use of portable electronics and electric automobiles.
The market is expanding significantly as a result of rising disposable income and urbanization. Modern battery technology aids in meeting carbon emission standards. One of the main factors propelling the market's expansion is the increased government subsidies and encouragement of electric automobiles.
Segmentation
Battery Raw Materials Market based on battery type:
· Lead-acid battery
· Lithium ion battery
Battery Raw Materials Market based on material:
· cathode
· anode
· electrolyte
Battery Raw Materials Market based on application:
· portable device
· electric vehicle
· industrial
· automotive
· others
Regional Outlook
· Asia Pacific
· North America
· Latin America
· Middle East and Africa
· Europe

Key Players
· Asahi Kasei
· Mitsubishi chemical holdings
· Posco
· Johnson Matthey
· Umicore
· Targray
· Nichia Corporation
· Celgard LLC
· NEI Corporation
· DuPont
· Hitachi Ltd.
· BASF Catalyst LLC.
· Other Players

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