Powering the Future: Trends in Battery Raw Materials
The global battery raw materials market size is anticipated to reach USD 95.75 billion by 2030, growing at a CAGR of 8.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The extensive usage of batteries in electric vehicles and the high demand for consumer electronic products are anticipated to drive growth. The market is witnessing a surge in demand for consumer electronics, including laptops, mobile phones, and tablets. This is attributed to the increasing digital inclusion in various application fields and the innovation of lithium rechargeable batteries with superior cycle time and density, making them ideal for portable equipment. Notably, the market is buoyed by the robust innovation ecosystem in North America and the cost-effective labor and manufacturing in Asia Pacific, instilling confidence in the market's stability and potential. With the increased scope of development of end-use application industries, including automotive ...