Analysis of LIB Anode Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global LIB anode market is estimated at US$ 9.2 billion in 2023 and is forecast to reach US$ 29.9 billion by 2033, growing with a CAGR of 12.5% from 2023 to 2033.
In a digital world governed by electricity, batteries have been playing a crucial role which is expected to become more crucial in the future. Anodes and cathodes are essential elements of batteries that also have a large influence on performance and energy capacity.
Increasing investments in research and development of advanced batteries are expected to promote the demand for lithium-ion battery (LIB) anodes made from different materials. Demand for other battery chemicals is also expected to witness a bright outlook over the coming years.
Primarily, the high use of lithium-ion batteries in electric vehicles and industrial applications is projected to bolster LIB anode shipments over the next ten years. Rising focus on sustainability, increasing digitization, electrification of several aspects of infrastructure, and high sales of consumer electronics are other influential aspects that could stimulate LIB anode sales going forward.
On the flip side, safety issues associated with the storage and transportation of batteries are projected to obstruct LIB anode demand over the coming years. Overheating of lithium-ion batteries and it resulting in explosions are other challenges that LIB anode manufacturers will have to overcome throughout the forecast period.
An elaborative assessment of local supply, product standards, safety regulations, and other influential aspects has been discussed extensively in this recently updated LIB anode market research study by Fact.MR, a market research and competitive intelligence provider.
LIB Anode Market Size (2023)
US$ 9.2 Billion
Projected Market Value (2033F)
US$ 29.9 Billion
Global Market Growth Rate (2023 to 2033)
Cumulative Market Share of China and Japan (2022)
Key Companies Profiled
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“New LIB Anode Companies Investing in R&D of New Performance-enhancing Anode Materials”
Lithium-ion batteries are the fuel of the future as the world moves towards electrification and digitization over the coming years. New companies are focusing on enhancing the performance of these lithium-ion batteries by investing in research of new materials that improve these batteries in terms of power output and storage capacity.
Graphite is the most commonly used anode material in lithium-ion batteries around the world and now aspiring LIB anode suppliers are experimenting with other anode materials to fine-tune batteries for specific applications.
An elaborative account of the current and forecasted start-up scenario on a global and regional level has been exclusively discussed in this latest LIB anode research study by skilled analysts at Fact.MR.
“United States to Provide Huge Moneymaking Opportunities”
Increasing sales of consumer electronics and electric vehicles are projected to influentially augment demand for LIB anodes in the United States over the next ten years. The rapid adoption of smart technologies and devices, high consumer spending potential, increasing investments in electric vehicle charging infrastructure development, and growing focus on sustainability are other aspects that could favor shipments of lithium-ion battery anodes and lithium-ion battery cathodes across the forecast period.
The increasing establishment of renewable energy plants and growing demand for batteries in industrial applications are also anticipated to benefit market growth in the United States going forward.
“Presence of Samsung SDI, SK Innovation, and LG Chem Creating Attractive Business Scope”
South Korea is home to some of the most prominent names in the battery manufacturing industry and this is a prime factor that is projected to uplift shipments of LIB anodes in the country over the coming years. Rising investments in battery R&D by companies such as LG Chem and SK Innovation are also anticipated to favor market growth in the country over the next ten years.
Growing awareness regarding sustainability, increasing digitization, surging adoption of renewable energy sources, and rising electric vehicle sales are other factors that could alter the LIB anode market growth trajectory in South Korea throughout the forecast period.
“Increasing Production and Sales of Electric Vehicles Attracting New Capital”
European countries have been implementing stringent mandates to reduce carbon emissions and control the environmental impact of human activities long before climate change became an imminent threat. The aforementioned factor has fostered high demand for sustainable alternatives in several industry verticals, which has resulted in high demand for lithium-ion batteries in the European region.
Key automotive manufacturers in European countries are focusing on launching new electric vehicles and taking advantage of the government subsidies that come with the manufacturing and sales of these vehicles. Increasing awareness regarding harmful emissions from fossil-powered vehicles and the availability of incentives for the purchase of EVs in European countries are slated to propel electric vehicle sales going forward.
The presence of a robust automotive manufacturing sector and the growing adoption of renewable energy sources are other factors that could stimulate LIB anode shipments in the European region over the next ten years. In conclusion, all of the aforementioned factors are expected to encourage LIB anode manufacturers to invest in European countries through 2033.
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“Automotive Industry Accounting for Controlling Market Share”
Based on end use, the LIB anode market is segmented into automotive, medical devices, consumer electronics, and industrial & energy storage.
Shipments of LIB anodes in the automotive industry are projected to account for an authoritative share in the global marketplace across the forecast period and this can be primarily attributed to the growing production and sales of electric vehicles around the world.
Government subsidies for electric vehicles (EVs), increasing focus on sustainability, growing availability of new EVs, and evolving consumer preferences are other prospects that could sculpt demand for LIB anodes in the automotive industry over the next ten years.
Prime LIB anode vendors are deploying strategies that help them expand their business scope in various regions and increase revenue generation capacity to fund their expansion efforts.
LIB anode manufacturers are also focusing on expanding their production capacity to meet high demands from various industry verticals around the world.
Additional information about new developments by top LIB anode producers and how they influence aspects such as product standards and pricing trends have been examined closely in this revised Fact.MR research analysis.
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In 2023, the global LIB anode market enjoys a value of US$ 9.2 billion.
LIB anode sales are set to amass a revenue of US$ 29.9 billion by the end of 2033.
Over the next ten years, shipments of LIB anodes are expected to increase rapidly at 12.5% CAGR.
The automotive industry is anticipated to account for a majority of LIB anode sales over the coming years.
3M Company, POSCO Group, Nippon Chemical, Betray New Energy Materials, NEI Corporation, and Amprius Inc. are leading LIB anode suppliers.
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