by on January 14, 2023

The Saudi Arabia Battery Material Market is expected to grow at a faster CAGR over the forecast period (2020-2027).

The factors driving growth of the Saudi Arabia Battery Material Market includes expansion of the renewable energy sector, growing demand for smart devices, rising number of smart cities, fall in the prices of lithium-ion batteries and improvements in the living standards. For instance, the Government of Saudi Arabia under its Vision 2030, announced to invest over USD 100 billion in renewable energy projects and further plans to grow the share of gas and renewable energy in its power mix to 50% by the end of 2030, which will accelerate the Saudi Arabia Battery Material Market share in the coming years. Moreover, growing concerns related to greenhouse gas emissions and climate change, increasing adoption of advanced technologies by manufacturers, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Saudi Arabia Battery Material Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships and collaborations between companies and growing population growth rates, are further contributing towards the market growth.

However, growth of the Saudi Arabia Battery Material Market is hindered attributed to inadequate charging infrastructure.

The leading players operating in the market are Saudi Arabia BASF, Dow Saudi Arabia, Toray Membrane Middle East LLC (TMME), Asahi Kasei Corporation, POSCO E&C Saudi Arabia and Sumitomo Corporation Saudi Arabia Ltd., among others.

Based on Batter Type, the Lead Acid segment is predicted to dominate the market during the forecast period

Increasing use of lead acid materials in power backup, security system and emergency lighting, is propelling segment’s growth.

Based on Material, the Lead-Acid battery Material segment is projected to expand at a remarkable CAGR over the forecast period

Lead acid battery constitute of materials such as cathode material, anode material and electrolyte material, and is increasingly used in commercial and residential power backup, is pushing segment’s growth.

Based on Application, the Lead-acid Battery segment is anticipated to hold the highest market share during the forecast period

Increasing application of lead acid battery in passenger cars, commercial cars and motorcycles, is augmenting the segment growth.

Market Segmentation

Segmentation by Battery Type

  • Li-ion
  • Lead Acid
  • Others

Segmentation by Material

  • Li-ion Battery Material
    • Cathode
      • Lithium Iron Phosphate (LFP)
      • Lithium Cobalt Oxide (LCO)
      • Lithium Nickel Manganese Cobalt (NMC)
      • Lithium Nickel Cobalt Aluminium (NCA)
      • Lithium Manganese Oxide (LMO)
    • Anode
      • Natural Graphite
      • Artificial Graphite
      • Other Anode Materials
    • Electrolyte Material
    • Separator Material
    • Other Materials
  • Lead-Acid battery Material
    • Cathode Material
    • Anode Material
    • Electrolyte Material
    • Separator Material
    • Other Materials
  • Other Battery Materials

Segmentation by Application

  • Li-ion Battery
    • Portable Devices
    • Electric Vehicles
    • Industrial
    • Others
  • Lead-acid Battery
    • Automotive
    • Industrial
  • Others

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Posted in: Electronics
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