The North America battery material market is expected to grow from US$ 5,620.44 million in 2021 to US$ 9,366.00 million by 2028; it is expected to grow at a CAGR of 7.7% from 2022 to 2028.

Electric vehicles (EVs) are becoming the preferred clean technology for future transportation due to their numerous benefits. They enhance energy security by reducing our reliance on crude oil, leading to improved air quality and lower greenhouse gas emissions. This makes EVs a superior choice over internal combustion engine (ICE) vehicles for tackling air pollution from both industrial and automotive sources.

Further advancements in battery and charging technology are expected to bring down costs. Factors like decreasing battery prices, expanding charging infrastructure, and localized supply chains are all boosting the demand for EVs.

Market Introduction: North America battery material market

The North America battery material market is experiencing significant market growth, primarily fueled by the increasing demand for electric vehicles and consumer electronic products. Manufacturers in this region are actively developing new products to meet the evolving needs of the electronics and gadget sectors.

North America Battery Material Market Segmentation

Material

• Anode

• Natural Graphite
• Synthetic Graphite
• Others

• Cathode
  • Lithium Nickel Cobalt Manganese Oxide (NMC)
  • Lithium Cobalt Oxide (LCO)
  • Lithium Iron Phosphate (LFP)
  • Lithium Manganese Oxide (LMO)
  • Lithium Nickel Cobalt Aluminium Oxide (NCA) and Others

• Electrolyte
• Binders
• Coatings
• Others

North America battery material market Application

• Primary Batteries
• Secondary Batteries

North America battery material market End User

• Transportation
• Consumer Electronics
• Industrial

North America battery material market Company Profiles

1. BASF SE
2. CABOT CORPORATION
3. Targray Technology International Inc.
4. American Elements
5. NEI Corporation
6. Asahi Kasei Corporation
7. Albemarle Corporation
8. Solvay S.A.
9. Arkema
10. PPG Industries Inc.
11. Mitsubishi Chemical Corporation
12. Electra Battery Materials
13. Ashland Global Holdings Inc.
14. Ube Corporation
15. Pyrotex

North America battery material market Key Segments

Based on end user, the North America battery material market is segmented into transportation, consumer electronics, and industrial. The transportation segment held the largest market share in 2021. Li-ion batteries, nickel-metal hydride (NiMH) batteries, and lead-acid batteries are the types of rechargeable batteries recognized by automobile manufacturers as suitable for electric cars. In recent years, lithium-ion batteries have become popular for powering electric and hybrid cars. Increasing demand for electric vehicles in North America positively impacts the battery material market growth.

Based on application, the North America battery material market is segmented into primary batteries and secondary batteries. The secondary batteries segment held a larger market share in 2021. A secondary cell or battery can be electrically recharged after its use to the original pre-discharge condition. It can be discharged and recharged many times. These batteries have high power density and high discharge rate, and it is used as an energy-storage device. Secondary batteries are used in car batteries to start the engine, aircraft systems, and standby power resources. These batteries are also used in electric vehicles, mobile phones, cameras, power tools, toys, and portable computers.

North America battery material market Regional Insights

The geographic scope of the North America Battery Material refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America battery material market Strategic Insights

Strategic insights for the North America Battery Material provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights