Battery Materials Market and its key opportunities and challenges

Battery Materials Market and its key opportunities and challenges

Browse 155 market data Tables and 47 Figures spread through 170 Pages and in-depth TOC on “Battery Materials Market”
Battery Materials Market by Battery Type (Lead-acid, Lithium-ion), Material (Cathode, Anode, Electrolyte, Separator), Application (Automotive, EVs, Portable Devices, Industrial), and Region (APAC, North America, Europe, RoW)

The Battery Materials Market was valued at USD 39.64 Billion in 2017 and is projected to reach USD 65.78 Billion by 2023, at a CAGR of 8.62% during the forecast period, as per a report by MarketsandMarkets. 

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Browse 155 market data Tables and 47 Figures spread through 170 Pages and in-depth TOC on “Battery Materials Market”

Why innovation and technology advances in Li-ion battery is a key opportunity?

Innovation and technology advances are the key opportunities for the market players in the battery materials industry. Recently, Japan developed a transparent Li-ion battery that charges itself using sunlight, without using any solar cell. There are plans to integrate this battery as a smart window. On the exposure to sunlight, the battery becomes tinted and transmits 30% light. Currently, the battery offers an output of nearly 3.6 volts and has been successfully tested to complete 20 charge/discharge cycles.

Nanotechnology can be used to form electrodes of suitable materials that would have a high surface area, permitting the charge to flow more freely. This would increase the capacity of the battery to hold power and to charge quickly. The overall battery life can be increased by using nanomaterials to separate the electrolyte in the battery from the electrodes. This can prevent low-level discharge, increase the shelf life of the battery, and reduce any chances of short circuit. The use of such new technologies in Li-ion batteries can increase its value in terms of performance. This provides potential for the usage of Li-ion battery in new application areas.

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How regulations and safety issues related to lead-acid battery materials is a challenge?

Lead is one the key materials of lead-acid battery. Around 8 million tons of lead are used each year around the world, and this quantity is growing steadily. Lead-acid battery is the largest consumer of these leads, with around 80% of the global lead production used in batteries. Lead has been recognized as hazardous as they are highly toxic and exposure to which can lead to adverse health effects. These effects include neurological damage, delayed mental and physical development, attention and learning deficiencies, and hearing problems. The use of lead is regulated by many laws administered by the EPA, including the Toxic Substances Control Act (TSCA), Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X), Clean Air Act (CAA), Clean Water Act (CWA), Safe Drinking Water Act (SDWA), Resource Conservation and Recovery Act (RCRA), and Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), among others.

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