Battery Metals Market: By Metal Type Application, Electric Vehicles, Electronic Devices, Stationary Battery Energy Storage Others) and Region Forecast 2020-2031
Battery Metals Market size was valued at US$ 35,970 million in 2024 and is expected to reach US$ 63,672 million by 2031, growing at a significant CAGR of 8.5% from 2025-2031. The report provides a detailed overview of the market, which can be segmented by Metal Type and by Application. By metal type, the global market has been segmented into Lithium, Cobalt, Nickel Others. The lithium Battery metals segment is likely to be the largest and fastest-growing segment in terms of metal type. Based on application, the global market is segmented into Starter, Lighting, and Ignition (SLI), Electric Vehicles (EVs), Electronic Devices, Stationary Battery Energy Storage (BES) Others. Among these, the Lighting segment is expected to have the fastest-growing market during the forecast period 2022-2028.
Study Period
2025-2031Base Year
2024CAGR
8.5%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
An increase in demand for consumer electronic devices such as smartphones, tablets, and laptops is driving the growth of the global market for battery metals, and a surge in the demand for battery metals from the sector of electronic vehicles. Additionally, the market for battery metals is anticipated to increase quickly due to the rapid development of the renewable energy and electric car industries.
By region, North America is expected to witness the highest market share during the forecast period due to rise in demand for smart gadgets in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2024 |
US$ 35,970 million |
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Market Size in 2031 |
US$ 63,672 million |
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Market CAGR |
8.5% |
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By Metal Type |
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By Application |
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By Region |
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The battery metals market size was valued at US$ 35,970 million in 2024 and is expected to reach US$ 63,672 million by 2031, growing at a significant CAGR of 8.5% from 2025-2031.
One disadvantage of batteries is their waste, which is anticipated to restrict the growth of the market for battery metals.
The key market players in the battery metals market are Albemarle, China Molybdenum Co., Kore power, Exotel, Ltd.; Ganfeng Lithium Co. Ltd., Glencore; Sumitomo Metal Mining, Umicore, and Vale.
| 1. Executive Summary |
| 2. Global Battery Metals Market Introduction |
| 2.1. Global Battery Metals Market - Taxonomy |
| 2.2. Global Battery Metals Market -Definitions |
| 2.2.1. Metal Type |
| 2.2.2. Application |
| 3. Global Battery Metals Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Battery Metals Market Dynamic Factors - Impact Analysis |
| 3.6. Global Battery Metals Market - Competition Landscape |
| 4. Global Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 |
| 4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Battery Metals Market, By Metal Type, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 5.1. Lithium |
| 5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Cobalt |
| 5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Nickel |
| 5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Battery Metals Market Forecast, By Application, 2020 - 2024 and Forecast, 2025 - 2031 |
| 6.1. Starter, Lighting, and Ignition (SLI) |
| 6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Electric Vehicles (EVs) |
| 6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Electronic Devices |
| 6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Stationary Battery Energy Storage (BES) |
| 6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Battery Metals Market Forecast, By Region, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Region, 2024 - 2030 |
| 8. North America Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 8.1. By Metal Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Lithium |
| 8.1.2. Cobalt |
| 8.1.3. Nickel |
| 8.1.4. Others |
| 8.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Starter, Lighting, and Ignition (SLI) |
| 8.2.2. Electric Vehicles (EVs) |
| 8.2.3. Electronic Devices |
| 8.2.4. Stationary Battery Energy Storage (BES) |
| 8.2.5. Others |
| 8.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Country, 2024 - 2030 |
| 8.5. North America Battery Metals Market Dynamics - Trends |
| 9. Europe Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 9.1. By Metal Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Lithium |
| 9.1.2. Cobalt |
| 9.1.3. Nickel |
| 9.1.4. Others |
| 9.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Starter, Lighting, and Ignition (SLI) |
| 9.2.2. Electric Vehicles (EVs) |
| 9.2.3. Electronic Devices |
| 9.2.4. Stationary Battery Energy Storage (BES) |
| 9.2.5. Others |
| 9.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Country, 2024 - 2030 |
| 9.5. Europe Battery Metals Market Dynamics - Trends |
| 10. Asia-Pacific Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 10.1. By Metal Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Lithium |
| 10.1.2. Cobalt |
| 10.1.3. Nickel |
| 10.1.4. Others |
| 10.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Starter, Lighting, and Ignition (SLI) |
| 10.2.2. Electric Vehicles (EVs) |
| 10.2.3. Electronic Devices |
| 10.2.4. Stationary Battery Energy Storage (BES) |
| 10.2.5. Others |
| 10.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Battery Metals Market Dynamics - Trends |
| 11. Latin America Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 11.1. By Metal Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Lithium |
| 11.1.2. Cobalt |
| 11.1.3. Nickel |
| 11.1.4. Others |
| 11.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Starter, Lighting, and Ignition (SLI) |
| 11.2.2. Electric Vehicles (EVs) |
| 11.2.3. Electronic Devices |
| 11.2.4. Stationary Battery Energy Storage (BES) |
| 11.2.5. Others |
| 11.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Country, 2024 - 2030 |
| 11.5. Latin America Battery Metals Market Dynamics - Trends |
| 12. Middle East and Africa Battery Metals Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031 (Revenue, USD Mn) |
| 12.1. By Metal Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Lithium |
| 12.1.2. Cobalt |
| 12.1.3. Nickel |
| 12.1.4. Others |
| 12.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Starter, Lighting, and Ignition (SLI) |
| 12.2.2. Electric Vehicles (EVs) |
| 12.2.3. Electronic Devices |
| 12.2.4. Stationary Battery Energy Storage (BES) |
| 12.2.5. Others |
| 12.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Battery Metals Market - Opportunity Analysis Index, By Metal Type, Application, and Country, 2024 - 2030 |
| 12.5. MEA Battery Metals Market Dynamics - Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Application & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Glencore International AG |
| 13.2.2. Albemarle Corporation |
| 13.2.3. Sumitomo Metal Mining Co., Ltd. |
| 13.2.4. Umicore |
| 13.2.5. Tianqi Lithium |
| 13.2.6. Vale |
| 13.2.7. China Molybdenum Co., Ltd. |
| 13.2.8. SQM S.A. |
| 13.2.9. Gan Feng Li Industrial Co., Ltd. |
| 13.2.10. Norilsk Nickel |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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