CHICAGO, April 11, 2024 /PRNewswire/ — The report “Lithium-Ion Battery Anode Market by Materials (Active Anode Materials and Anode Binders), Battery Product (Cell and Battery Pack), End-Use (Automotive and Non-Automotive), and Region (Asia Pacific, Europe, and North America) – Global Forecast to 2028″, is projected to grow from USD 12.0 billion in 2023 to USD 46.5 billion by 2028, at a CAGR of 31.2% during the forecast period.
The lithium-ion battery anode market is experiencing a surge, fueled by two key trends. First, the electric vehicle (EV) revolution is driving a massive demand for lithium-ion batteries, and anodes are a critical component. Second, industrial applications are increasingly adopting lithium-ion batteries for their efficiency and clean energy benefits. Further accelerating this growth are strategic moves by industry leaders, including collaborations and manufacturing expansions happening across the globe. This confluence of factors paints a bright picture for the future of the lithium-ion battery anode market.
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The synthetic graphite of lithium-ion battery anode market, by materials, is expected to be the largest market from 2023 to 2028.
While boasting superior purity (>99%) and uniformity compared to its natural counterpart, synthetic graphite, derived from pitch and coke, comes at a premium – three to four times the cost. Despite the price difference, its well-defined structure facilitates smoother lithium-ion movement, enabling faster charging and higher reliability. These performance advantages make synthetic graphite the preferred choice for specialty applications within the lithium-ion battery anode market, even during the forecast period.
The automotive end-use segment is accounted for the largest share in the global lithium-ion battery anode market during the forecast period.
The automotive sector is a key end-use for the lithium-ion battery anode market. This is due to the rising popularity of electric vehicles (EVs), e-bikes, and automated guided vehicles (AGVs) – all of which rely heavily on lithium-ion batteries. As competition in the EV market heats up, manufacturers are constantly striving for better battery performance. This focus on operational excellence translates to a growing demand for lithium-ion batteries, and consequently, their core component – the anode. In essence, the surging adoption of electric vehicles and other battery-powered transportation solutions is propelling the lithium-ion battery anode market forward.
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Europe lithium-ion battery anode market is projected to grow at the second largest.
Europe stands out as the world’s number two consumer of lithium-ion battery anodes by value. This robust market is fueled by the growing demand for electric vehicles (EVs) within the region. Government incentives and funding play a crucial role in promoting EV adoption, which in turn, translates to a significant need for lithium-ion batteries and their key component, the anode. This focus on clean and sustainable transportation solutions positions Europe as a major player in the lithium-ion battery anode market.
Some of the leading players in this market include Ningbo Shanshan Co., Ltd. (China), Jiangxi Zhengtuo New Energy Technology (China), Resonac Holdings Corporation (Japan), POSCO FUTURE M (South Korea), Mitsubishi Chemical Group Corporation (Japan), and SGL Carbon (Germany) among others.
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