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.
The growing adoption of electric vehicles (EVs) has significantly enhanced energy security by reducing reliance on crude oil. EVs contribute to better air quality and lower greenhouse gas emissions, making them a cleaner alternative to internal combustion engine (ICE) vehicles. As air pollution remains a major concern, particularly from industrial and automotive sectors, electric vehicles are emerging as the preferred clean technology for future mobility. Advancements in battery and charging technology, along with falling battery prices, are making EVs more affordable. Additionally, the expansion of charging infrastructure and localized supply chains are further driving EV demand.
In North America, the battery material market is experiencing substantial growth, fueled by the rising demand for electric vehicles and consumer electronics. Manufacturers are increasingly focusing on innovation and new product development to meet the evolving needs of the electronics and gadgets sector. The shift toward sustainable energy solutions has accelerated investments in battery technologies, including lithium-ion and solid-state batteries, which offer higher efficiency and longer lifespans. Government policies promoting clean energy and incentives for EV adoption are also playing a crucial role in market expansion.
As the automotive industry transitions toward electrification, the demand for advanced battery materials such as lithium, cobalt, and nickel continues to rise. Companies are investing in research and development to improve battery performance, reduce costs, and minimize environmental impact. With increasing consumer awareness and regulatory support, the North American battery material market is poised for significant growth, reinforcing the region's position in the global clean energy transition. The ongoing advancements in EV technology and sustainable energy solutions highlight the potential for a greener and more energy-secure future.
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
- BASF SE
- CABOT CORPORATION
- Targray Technology International Inc.
- American Elements
- NEI Corporation
- Asahi Kasei Corporation
- Albemarle Corporation
- Solvay S.A.
- Arkema
- PPG Industries Inc.
- Mitsubishi Chemical Corporation
- Electra Battery Materials
- Ashland Global Holdings Inc.
- Ube Corporation
- 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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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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