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. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=866 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