Global Battery Metals Market is expected to reach $20.89 billion by 2027 growing at a CAGR 4.4% during 2019 to 2027.
Some of the key players profiled in the Battery Metals Market include Albemarle, American Battery Metals Corp, Bolt Metals, China Molybdenum Co Ltd, Freeport-McMoRan, Galaxy Resources Limited, Gangfeng Lithium Co Ltd, Glencore, SQM, Sumitomo Metal Mining Co Ltd, Umicore and Vale.
Some of the factors such as rising adoption of electric vehicles and growing demand for batteries in the automotive industry & stationary battery energy storage (BES) are propelling the growth of the market. However, disposal of batteries waste that has toxic effects on the environment is restraining the market growth.
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Battery Metals corresponds to metals used in batteries such as lithium, graphite, nickel etc. They are widely used in electric vehicles and various electronic devices based on the requirements.
Based on application, the starter, lighting, and ignition (SLI) segment is likely to have a huge demand as it has been the key application area in the market for battery metals during past many years. SLI battery is used in conventional vehicles for starting and igniting the engine and provides electricity to the car.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period. This share is attributable to China as it is the largest battery manufacturer in the world. The manufacturing capacity of China is owing to its dominance over the supply chain.
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• Electric Vehicles (EVs)/ Electric Mobility
• Electronic Devices/ Consumer Electronics
• Starter, Lighting, and Ignition (SLI)
• Stationary Battery Energy Storage (BES)/ Energy Storage Systems
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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