The Lithium-Ion Battery Anode Market size is projected to reach USD 21.0 billion by 2026, growing at a CAGR of 19.9%. The growing demand for electric vehicles along with 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.
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The synthetic graphite of lithium-ion battery anode market, by materials, is expected to be the largest market from 2021 to 2026.
Synthetic graphite is produced from pitch and coke. It is of a higher purity than natural #graphite but is not as crystalline. It is used in specialty applications because of its superior uniformity and purity (>99%). Graphite end users, therefore, prefer synthetic graphite even though its price is three to four times than natural graphite, as synthetics graphite offers higher reliability and performance. Synthetic graphite provides smooth migration of lithium-ions and facilitates fast charge as compared to natural graphite. Therefore, It sees high demand for the lithium-ion battery for anode market during the forecast period.
The automotive end-use segment is projected to lead the global lithium-ion battery anode market during the forecast period.
The automotive end-use industry is expected to be one of the major segments for lithium-ion battery anode market. Battery-driven vehicles such as electric vehicles, #ebikes and #automatedguidedvehicles are major consumers of lithium-ion batteries. There is increasing competition between battery models installed in #EVs owing to the need for operational excellence. Increasing adoption and awareness of EVs supports the growth of the lithium-ion battery market which in turn enhances the demand for lithium-ion battery anode.
Europe lithium-ion battery anode market is projected to grow at the highest CAGR
Europe is the second-largest consumer of #lithiumionbattery anode and accounted for a share of 6.1% of the global market, in terms of value, in 2020. The region is home to some of the largest battery manufacturers, such as Saft (France) and FIAMM (Italy). #Batteries have major applications as clean, sustainable, and compact sources of power in automotive. The region is witnessing significant growth in the demand for EVs which is largely dependent on government incentives and funds. Growth in demand for #electricvehicle has increased the demand for lithium-ion battery anode which in return has fueled the demand for lithium-ion battery anode in the region.
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The key players in the #lithiumionbatteryanodemarket include Showa Denko Carbon, Inc. (Japan), JFE Shoji Power Canada Inc. (Japan), Kureha Corporation (Japan), SGL Carbon (Germany), Shanghai Shanshan Science & Technology Co., Ltd. (China), and POSCO CHEMICAL (South Korea).
Recent Developments
- In April 2021, Shanshan Technology is to expand its lithium-ion battery anode material production base which is in Baotou city, north China's Inner Mongolia. Currently, the plant has a production base of more than 60,000 t/yr of graphite negative and 40,000 t/yr of carbon-coated graphite negative materials.
- In April 2021, SGL Carbon signed a collaboration agreement with Altech Chemicals for the development of high purity alumina-coated (HPA) graphite materials for use by the lithium-ion battery industry in anode application.
- In March 2021, SGL Carbon received a funding of around USD 51 million under IPCEI (Important Project of Common European Interest) for the development and industrialization of anode materials that are made of synthetic graphite for use in lithium-ion batteries.
