The global lithium-ion battery anode market size is projected to grow from USD 8.4 billion in 2021 to USD 21.0 billion by 2026, at a CAGR of 19.9% from 2021 to 2026 - says Research & Markets' report.
The growing demand for electric vehicles along with the high demand for lithium-ion batteries for industrial applications is driving the market growth. Moreover, strategies such as agreements and plant expansions undertaken by several prominent players in the lithium-ion battery anode industry are further fueling the lithium-ion battery anode industry growth across the globe.
The Li-Compounds & Li-Metal active anode segment, by material, is projected to register the highest CAGR during the forecast period.
Li-metal batteries using Li metal as the anode provides a huge amount of increase in energy density. Unfortunately, in the past when scientists have experimented with lithium-metal batteries, they found them to be extremely unstable and often exploded. That's the reason scientists have now been able to stabilize the lithium-metal battery and bring a viable commercial version to the marketplace. Li-metal batteries are an ideal anode material for rechargeable batteries because of their extremely high theoretical specific capacity (3860 mAh g-1), low density (0.59 g cm-3), and lowest negative electrochemical potential.
Automotive segment by end-use accounts for the largest share of lithium-ion battery anode during the forecast period.
The market for electric vehicles is expected to grow in the near future, partly driven by the adoption of various environmental norms and emission regulations. Owing to environmental concerns and awareness about clean and sustainable fuel, there is a rise in the demand for electric vehicles. This has resulted in an increase in the demand for lithium-ion battery anode. There is also substantial support from governments in various countries in the form of incentives and subsidies to promote the purchase of electric vehicles.
The Asia Pacific is projected to account for the largest share lithium-ion battery anode market during the forecast period.
The Asia Pacific region is expected to lead the lithium-ion battery anode industry from 2021 to 2026 in terms of both value and volume. The region has become an attractive automotive market, emerging as a hub for automobile production in recent years. Recent infrastructure developments and industrialization activities in emerging nations have opened new avenues and opportunities for OEMs. The increasing purchasing power of the population has stimulated the demand for consumer electronics and automobiles, creating a need for lithium-ion batteries which in return creates the demand for lithium-ion battery anode.
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