Battery Materials Market is primarily driven by the growing reliance on electronic devices such as smartphones, tablets, and laptops.

SHERIDAN, WYOMING, UNITED STATES, August 29, 2022 /EINPresswire.com/ — The latest report by IMARC Group, titled “Battery Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global battery materials market size reached US$ 47.65 Billion in 2021. Battery materials refer to various compounds present in cell electrodes, electrolytes, and separators. They mainly consist of metals such as Lithium, Cobalt, and Nickel that are extracted from mining operations and processed afterward. They exhibit high energy-density properties and are compatible with various metals. At present, there is an escalating demand for battery materials due to the increasing applications of batteries in household appliances, military electronics, medical equipment, and portable devices. Looking forward, IMARC Group expects the market value to reach US$ 68.67 Billion by 2027, exhibiting a CAGR of 6.10% during the forecast period (2022-2027).

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Global Battery Materials Market Trends:

The market is primarily driven by the growing reliance on electronic devices such as smartphones, tablets, and laptops. In addition, the…