Multibillion opportunity for Battery Material manufacturers - who is winning the competition?

The battery materials market was valued at USD 51.18 billion in 2021 and is projected to reach USD 120.39 billion by 2027, at a CAGR of 15.8% during the forecast period. The growth of the battery materials market is primarily driven by increasing demand for EVs, smart devices, and other electronic products.

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The most common use of lead-acid batteries is for starting, lighting, and ignition (SLI) in automobiles and other vehicles with internal combustion engines. Having said that, Li-Ion batteries are emerging fast with the advent of renewable energy and Li powered EV vehicles. Companies such as Samsung, LG Chem and Panasonic are using their of Li technology in their products.

WHO IS WINNING THE COMPETITION?

Different players adopt different strategies to win against the competition. However, if we take a holistic approach, there are two different metrics that would define the industry leaders for the present and the future.

1.     Innovation : Future Leadership

2.     Business and Market - A Collaborative Strategy  : Present Leadership

1.  Innovation holds the key for future leadership

Industry leaders and start ups are investing billions of dollors in bringing new innovations to stay ahead of competition. In last few years, many companies are working on new type of technologies such as nanobold Li tungsten, zinc manganese, organosilicon, cobalt, graphene, string cell and nanogold wire. The prominent players actively involved in innovations and patent publishing are Sumitomo, Panasonic, LG and Samsung. Even though, Mitsubishi, and Umicore are market leaders with strong presence in Lithion and lead acid batteries, the innovation leaders will always have an edge in 5 to 10 years period.


2.  business and market – a collaborative strategy

This is the area where current market leaders such as Mitsubishi and Umicore focus more. They enter into lots of partnership with car and electronic manufacturers which help them to win more deals and enable them to stay ahead of competition. Few examples are provided below.

·       Umicore and ACC share the ambition to further develop their partnership with the potential to grow annually supplied volumes to reach at least 46 GWh by 2030, equivalent to powering at least 500,000 EVs per year.

·       Umicore and Volkswagen AG agreed to create a European EV battery materials Joint Venture.

·       In January 2021, Shanghai Energy New Materials Technology Co., Ltd. (SEMCORP) and Asahi Kasei's wholly-owned subsidiary Polypore International, LP (Polypore) agreed to create a joint venture in China for manufacturing dry-process separators for lithium-ion batteries.

·       Umicore and BASF enter into a patent cross-license agreement. More than 100 patent families that were filed in Europe, the US, China, Korea, and Japan are covered by the agreement. In the future, each party will be able to defend its own intellectual property rights against outside parties

·       In January 2021, Shanghai Energy New Materials Technology Co., Ltd. (SEMCORP) and Asahi Kasei's wholly-owned subsidiary Polypore International, LP (Polypore) agreed to create a joint venture in China for manufacturing dry-process separators for lithium-ion batteries

·       In 2022, Mitsubishi expanded production capacity in China for anode materials.

·       In February 2022, Panasonic announced to establish a production facility for lithium-ion batteries for EVs at the Wakayama factory in Japan, and production is set to begin in the fiscal year ending in March 2024.

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