North America Battery Raw Materials Market Insights Forecasts to 2033

• The Market is growing at a CAGR of 9.2% from 2023 to 2033
• The North America Battery Raw Materials Market Size is Expected to Hold a Significant Share by 2033

The North America Battery Raw Materials Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 9.2% from 2023 to 2033.

Market Overview

Battery raw materials are used as the primary ingredients in the early phase of producing batteries. The main ingredients consist of lithium, nickel, cobalt, and various other substances. The battery raw materials market is the second largest in the North America region. The United States is a highly technologically advanced country that utilizes lithium-sulfur batteries extensively in a variety of industries. The United States is also a significant producer of lithium batteries. Canada experiences consistently cold temperatures throughout the year, therefore, fuel-powered vehicles and heating systems rely on a large number of raw materials. Therefore, lithium-sulfur batteries are predominantly utilized in recreational vehicles (RVs), marine, and other electronic applications. Mexico is experiencing fast growth thanks to its advanced neighbor, the U.S., and the government's push for electric vehicles in transportation and energy storage devices in power distribution. The U.S. government has taken the initiative to expand the U.S. electric vehicle market. In April of the year 2021, new funding opportunities for research on three EV charging topics were declared by the U.S. Department of Energy in order to increase the adoption of EVs. $10 million was allocated to create new technologies and designs aimed at lowering the cost of electric vehicle supply equipment for DC fast charging, necessary to meet the demand for a large number of EVs.

Report Coverage

This research report categorizes the market for the North America 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 North America 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 North America battery raw materials market.

Driving Factors

Increased regulations for the safe handling of hazardous materials in manufacturing, mining, and transportation are responsible for driving the growth of the market for battery raw materials to ensure human health and environmental preservation. An example is lithium batteries, which, being hazardous, present safety hazards. Nevertheless, regulations play a supportive role in ensuring the appropriate handling, transportation, and disposal of batteries containing lithium in developing countries. The sector shows fewer alternatives for the materials used in lithium-ion and lead-acid batteries. There are companies that utilize unique materials containing various metal mixtures in order to minimize energy consumption.

Restraining Factors

Fluctuations in battery material prices are hindering market growth. Adverse impacts from certain battery materials are also negatively impacting the target market.

Market Segmentation

The North America battery raw materials market share is classified into battery type and material.

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

The North America battery raw materials market is segmented battery type 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 electrolyte segment dominates the market with the largest market share over the predicted period.

The North America battery raw materials market is segmented by material into cathode, anode, electrolyte. Among these, the electrolyte segment dominates the market with the largest market share over the predicted period. The increased use of lead-acid batteries has increased the need for electrodes. Lead oxide and sponge lead are crucial elements found in lead-acid batteries' electrodes, facilitating the required electrochemical reactions for storing and releasing energy.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America 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

• Asahi Kasei Corporation
• BASF SE
• Celgard LLC
• ENTEK
• ITOCHU Corporation
• Johnson Matthey
• Mitsubishi Chemical Corporation.
• NICHIA CORPORATION
• Sumitomo Chemical Co. Ltd
• Targray Technology International Inc.
• Umicore
• Others

Key Target Audience

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

Recent Developments

• In February 2023, ENTEK, an American company producing lithium-ion battery separator materials, collaborated with Brückner Group USA to enhance its battery separator film manufacturing line in response to the increasing need for electric vehicles and energy storage systems in the United States.

Market Segment

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

North America Battery Raw Materials Market, By Battery Type

• Lead-Acid
• Lithium-Ion

North America Battery Raw Materials Market, By Material

• Cathode
• Anode
• Electrolyte