Battery Metals Market Expected to Reach $28 Billion by 2033 – BIS Research

Dec 15, 2023 6:00 PM ET

The battery metals market is a crucial sector within the broader global commodities market, driven by the increasing demand for batteries in various industries, particularly in the electric vehicle (EV) and renewable energy sectors.

The global battery metals market is estimated to grow to more than $28 billion by 2033 growing at a CAGR of more than 8% between 2023 and 2033.

The battery metals market is influenced by factors such as technological advancements, government policies promoting renewable energy and electric vehicles, and the evolving landscape of energy storage solutions.

Market Analysis: Trends, Data, and Growth Projections

BIS Research, a leading market research firm, has released a report titled-Battery Metals Market, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the market.

The battery metals market report focuses on metal types, end users, and regional segmentation.

Key Players and Market Shares:

The companies that are profiled in the report have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some major companies operating in the global report title are:

Glencore
Albemarle Corporation
Umicore
Tinaqi Lithium
Norilsk Nickel
Ganfeng Lithium Co., Ltd.
LG Chem
Sumitomo Metal Mining Co. Ltd.
Vale
Bolt Metals
MITSUBISHI MATERIALS
CMOC
SQM S.A.
Eramet
AngloAmerican PLC

Market Drivers, Challenges, and Opportunities:

Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the battery metals market.

The battery metals market is a dynamic and evolving industry fueled by the rising electrification of transportation and the increasing demand for renewable energy storage solutions. With technological advancements and a growing emphasis on sustainability, significant changes are anticipated in the market in the coming years.

Analyst Note

BIS Principal Analyst suggests: “As the global demand for electric vehicles (EVs) continues to surge, and there is a parallel expansion of renewable energy projects, the need for battery metals is poised to experience significant growth. The increasing adoption of electric vehicles is a prominent driver, with governments, industries, and consumers alike showing a growing commitment to sustainable and eco-friendly modes of transportation.”

About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.