North America Battery Materials Market Forecast to 2028 –

New York, July 21. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “North America Battery Material Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material, Application, and End User” – https://www.reportlinker .com/p06295688/?utm_source=GNW
Electrochemical cells transform chemical energy into electrical energy.

Anode, cathode, electrolyte, binders, and coatings are different battery materials. Growing demand for electric vehicles and increasing demand from the electronics industry are some of the major factors driving the growth of the battery materials market in North America.

Additionally, electronics production and spending on consumer electronics has grown rapidly. As a result, major market players are focusing on mergers and acquisitions to produce new products and increase their global presence.

Manufacturers are developing new products to meet the growing demand from the electronics and gadgets segment, which is expected to provide lucrative opportunities for the growth of the North America battery materials market in the coming years. The trend of high demand for electronic gadgets would also fuel the market growth in the region during the forecast period.

On the basis of materials, the battery materials market in North America is segmented into anode, cathode, electrolyte, binders, coatings, and others. The cathode segment held the largest market share in 2021.

The cathode is the positive or oxidizing electrode. It acquires electrons from the external circuit and is reduced during the electrochemical reaction.

Nickel cobalt aluminum (NCA), cobalt-based lithium-ion (LCO), and nickel cobalt manganese (NCM or NMC) are cathode materials. The cathode is a key material that has the greatest impact on battery performance and safety.

Cathode materials are the main component of lithium-ion batteries, and there are several cathode materials to choose from in the Li-ion battery space.

In 2021, the United States held the largest battery materials market share in North America. The major market growth drivers in the country are the rising popularity of electric cars and trucks and the growing demand for smart electronic devices.

As the automotive industry is rapidly shifting to electric vehicles. In 2021, President Joe Biden signed an order that half of new vehicles sold be electric by 2030.

Hence, the growing demand for electronic vehicles propels the need for batteries and different battery materials, which is driving the growth of the battery materials market in the United States. Additionally, high demand for computers, televisions, cell phones, and others is driving growing demand for batteries, which is fueling the growth of the market in the country.

In February 2022, the U.S. Department of Energy (DOE) released two Notices of Intent to provide funding to stimulate production of the advanced batteries needed for the fast-growing clean energy industries of the future, including electric vehicles and energy storage. The department aims to fund battery material refining and production plants, battery cell and battery pack manufacturing facilities, and recycling facilities.

The funding will enable the country to produce batteries and materials to increase its economic competitiveness and energy independence. Such developments would provide lucrative opportunities for the growth of the battery materials market in the United States over the forecast period.

BASF SE, CABOT CORPORATION, Targray Technology International Inc., American Elements, NEI Corporation, Asahi Kasei Corporation, Albemarle Corporation, Solvay SA, Arkema, PPG Industries Inc., Mitsubishi Chemical Corporation, Electra Battery Materials, Ashland Global Holdings Inc., Ube Corporation and Pyrotex are among the major players operating in the North American battery materials market. Market players are constantly focusing on strategies such as investments in research and development activities and expansion. Players operating in the North America battery materials market are focusing heavily on developing high-quality and innovative product offerings to meet customer requirements.

The overall North America battery materials market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Additionally, several primary interviews were conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders, specializing in the North America battery materials market.
Read the full report: https://www.reportlinker.com/p06295688/?utm_source=GNW

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