Europe Battery Raw Materials Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 7.8% from 2023 to 2033
• The Europe Battery Raw Materials Market Size is Expected to Hold a Significant Share by 2033

The Europe Battery Raw Materials Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 7.8% from 2023 to 2033.

Market Overview

Battery raw materials serve as the initial components in the beginning stage of battery manufacturing. Their primary components include lithium, nickel, and cobalt, along with other materials. Major mining companies extract these metals before transforming them into metal compounds and precursors through processing. Battery metal precursors are utilized in the production of electrolytes and anodes. Lithium can be extracted from nearly 100 various mineral ores, with spodumene, lepidolite, petalite, amblygonite, and eucryptite being the primary sources of lithium metal. Moreover, brines serve as sources for acquiring battery raw materials. The battery raw materials market is growing due to the annual increase in electric vehicles, the continuous rise in consumer electronics demand, and the growing need for energy storage systems in power generation and utilities. The electric vehicle (EV) market is benefiting from the shift towards renewable energy over traditional fuels, which has also enhanced its position in the mainstream automotive sector. Market growth has been fueled by the rise in demand for batteries across different industries for backup power supply and as energy storage systems in power generation and renewable power station. Rising global demand for electric vehicles and consumer electronics is boosting the market for battery raw materials. During the forecast period, these factors mentioned above are anticipated to create many opportunities for battery raw materials.

Report Coverage

This research report categorizes the market for Europe battery raw materials market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe battery raw materials market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe battery raw materials market.

Driving Factors

More manufacturing facilities and innovation hubs are being built in areas with high battery demand, resulting in an increased need for the development of battery raw materials. Moreover, it is predicted that battery manufacturers will need to form partnerships with battery metal suppliers in order to enhance the availability of battery metals that are anticipated to experience a deficit in the upcoming years. Advanced battery technology assists in meeting emission standards. Governments are encouraging electric vehicles through subsidies, policy adjustments, and regulations on carbon emissions.

Restraining Factors

Market growth is being held back by the fluctuations in prices of battery materials. Negative consequences caused by specific battery materials are also having a detrimental effect on the desired market.

Market Segmentation

The Europe battery raw materials market share is classified into battery type and application.

• The lithium-ion segment is expected to hold the largest market share through the forecast period.   

The Europe battery raw materials market is segmented into battery types into lead-acid and lithium-ion. Among these, the lithium-ion segment is expected to hold the largest market share through the forecast period. A lithium-ion battery uses lithium as the main component to produce the power required for electronic devices. Lithium is a shiny, white, and soft metal from the alkali group. Lithium resources used for making batteries include a range of lithium molecules like Lithium hydroxide, Lithium carbonate, Lithium fluoride, and Lithium chloride.

• The industrial segment dominates the market with the largest market share over the predicted period.

The Europe battery raw materials market is segmented by application into automotive, EV, portable devices, and industrial. Among these, the industrial segment dominates the market with the largest market share over the predicted period. The increase is particularly a result of government efforts and rules regarding environmental issues and growing knowledge of clean and sustainable fuel.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe battery raw materials market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Targray
• ENTEK
• BASF Catalysts LLC
• DuPont
• Hitachi, Ltd.
• Nichia Corporation
• Mitsubishi Chemical Group Corporation
• Celgard LLC
• Umicore N.V.
• NEI Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-added resellers (VARs)

Recent Developments

• In January 2024, Iveco Group partnered with BASF to offer a recycling solution for lithium-ion batteries. This partnership aims to extend the batteries' lifespan while reducing their environmental footprint.

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe Battery Raw Materials Market based on the below-mentioned segments:

Europe Battery Raw Materials Market, By Battery Type

• Lead-Acid
• Lithium-Ion

Europe Battery Raw Materials Market, By Application

• Automotive
• EV
• Portable Devices
• Industrial