According to the research report titled ‘Global Battery Materials Market (2022 Edition) - Analysis By Battery Type (Lead Acid, Lithium-Based, Others), End User (Industrial, Portable Devices, Automotive), By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2021-2026)’ available with MarketStudyReport, global battery materials market accounted for USD 66.24 billion in 2020 and is anticipated to generate remunerative results by 2026.

Rapid urbanization, growing demand for eco-friendly batteries, increasing government support, and widespread digitalization during battery manufacturing processes are predominantly the major factors fueling the global battery materials market. The report is structured to include both qualitative and quantitative characteristics of this business sector across various regions and countries.

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Global battery materials marketplace is segmented on the basis of battery type, end-user, and regional analysis.

By battery type, the market is segregated into lithium-based, lead-acid, and other segments. Among these, the lithium-based battery material segment holds the largest market share and is predicted to grow faster during the forecast period due to the high demand for lithium-based batteries in electric vehicles and portable devices.

In terms of end user reach, this marketplace is divided into portable devices, industrial, and automotive segments. The automotive segment holds the largest market share and is expected to amass substantial gains during the study timeframe due to the high demand for battery materials in electric vehicles and the rising sales of EVs.

The regional terrain of the global battery materials marketplace is widespread across North America, Europe, Latin America, the Middle East & Africa, and Asia Pacific. Asia Pacific is likely to emerge as a key revenue generator for the market participants in the ensuing year given the rise in demand for consumer electronics and the automotive sector, especially electric vehicles.

Meanwhile, the study presents a 360-degree outlook of the leading industry players with respect to their financials, product/service portfolio, and major developments like mergers, partnerships, and investments.

The key players formulating the competitive landscape of the global battery materials business sphere are Umicore N.V., EcoPro, Nichia Corporation, Asahi Kasei Corp., POSCO Chemical Co., BASF SE, Targray Technology International Inc., BYD Auto Co. Ltd., GS Yuasa International Ltd., and CBAK Energy Technology Inc.