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The Lithium-Ion Battery Anode Market is estimated to reach at a high CAGR during the forecast period (2022-2029).

LITHIUM-ION BATTERY ANODE MARKET DYNAMICS AND TRENDS

The rising adoption of electric vehicles mainly drives the demand for lithium-ion battery anodes. Lithium-ion battery fire hazards are a key factor in limiting the market’s growth.

Growing global adoption of electric vehicles

Climate consciousness has been increasing among consumers and governments in recent years. A major global effort is underway to decarbonize transportation to avoid the most catastrophic effects of global warming and man-made climate change. Many governments pledged net-zero carbon emission targets for the middle of the century at the COP26 climate conference in Glasgow in November 2021. It will almost certainly hasten the adoption of carbon-free mobility solutions such as electric vehicles.

 

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Electric vehicles are zero-emission without any sacrifice in automotive performance. Leading automotive manufacturers are currently researching increasing vehicle range, battery energy density, and reducing charging times. The increasing innovations in this sector are likely to lead to the growing adoption of electric vehicles. The rising adoption of electric vehicles is a key driver of the growth of the global lithium-ion battery anode market.

Fire hazards of lithium-ion batteries

Lithium-ion batteries are a safety hazard since they contain flammable electrolytes that can become damaged quickly. A lithium-ion battery charged too quickly can cause a short circuit, which leads to explosions and fire. A lithium-ion battery fire can be started due to poor cooling, electrical short circuits, mechanical penetration, and aging. Due to these risks, testing standards are more stringent than those for lead-acid batteries, requiring a broader range of test conditions and additional specific tests. Safety regulators also impose shipping limitations. Notably, the Samsung Galaxy Note 7 smartphone was recalled due to battery explosions and fires.

Lithium-ion batteries use a flammable liquid as an electrolyte. A faulty battery, therefore, can cause a serious fire. Faulty chargers affect the safety of the battery since they can destroy the battery’s integrity protection circuit. Short-circuiting a lithium-ion battery causes the cell to overheat and catch fire. Smoke from thermal overheating in a lithium-ion battery is both flammable and toxic.

A lithium-ion battery that is damaged, mechanically penetrated, or subjected to a high electrical load without overcharge protection can trigger fire and explosion. The Boeing 787, one of the first commercial aircraft to use lithium-ion batteries, experienced many fire incidents due to battery malfunction. Similarly, a UPS airline cargo flight crashed in Dubai due to the combustion of its cargo load of lithium-ion batteries. The fire hazard of lithium-ion batteries is one of the key challenges to the market’s growth.

COVID-19 IMPACT ON LITHIUM-ION BATTERY ANODE MARKET GROWTH

The lithium-ion battery industry experienced sharp declines in production and sales in 2021 due to the COVID-19 pandemic. Lithium-ion battery manufacturing operations were hampered by lockdowns and movement restrictions instituted by governments to curb the spread of the pandemic. Battery production resumed at a limited capacity after the lockdowns were lifted in late 2021. Battery production is expected to reach pre-pandemic levels by the end of 2021.

Lithium-ion battery anode is manufactured using a range of different materials. The supply chain and logistical problems caused by the pandemic have made it difficult to source various materials. It has lowered the production of lithium-ion batteries, although it is expected to be only transitory. The pandemic will not impact the long-term growth of the lithium-ion battery anode market since the demand for electric vehicles and consumer electronics remains strong and will continue to grow significantly in the coming years.

LITHIUM-ION BATTERY ANODE MARKET SEGMENT AND SHARES ANALYSIS

The global lithium-ion battery anodes market is segmented into material, battery product, end-user, and region. The lithium-ion battery anode market is further segmented into natural graphite, artificial graphite, silicon, lithium compounds, and anode binders based on material.

Natural graphite is leading in this segmentation, as it is the most widely used material for lithium-ion battery anode. Due to optimal qualities such as structural stability, low electrochemical reactivity, conditions for storing many lithium ions, and low cost, graphite is the material that is considered most suitable to be used for the anode.

 

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LITHIUM-ION BATTERY ANODE MARKET GEOGRAPHICAL ANALYSIS

Asia-Pacific is leading in the global lithium-ion battery anode market. It accounts for the largest market share, primarily due to the mix of major emerging and developed markets such as China, India, Indonesia, Vietnam, Thailand, Malaysia, Japan, Taiwan, and South Korea. The region has a high concentration of manufacturing industries. Some of the largest lithium-ion battery anode producers and consumers are located in this region.

China is also the largest market for lithium-ion battery anode in the world. China is the biggest producer of electric vehicles globally. China produced about 4.6 million vehicles between 2010 to 2021 and accounted for nearly 44% of the electric cars sold. The rapid growth of the Chinese electric vehicle market is enticing foreign investors to set up assembly operations in the country

China is the largest automobile manufacturer globally, with more than 20 million passenger vehicles and 5 million commercial vehicles produced in 2021. China is among the largest manufacturer of electronics and electronic components globally. Lithium-ion batteries are used as power sources in electronics and cars. Asia-Pacific will retain the largest market share in the global lithium-ion battery anode market in the coming years.

LITHIUM-ION BATTERY ANODE COMPANIES AND COMPETITIVE LANDSCAPE

The global lithium-ion battery anode market is competitive due to the availability of various anode materials that cater to specific end-use applications. Some of the major market players contributing to the growth in the segment are SGL Carbon, Showa Denko Materials Co., Ltd, JFE Chemical Corporation, Kureha Corporation, POSCO Chemical, Nippon Carbon Co Ltd, NEI Corporation, Tokai Carbon Co., Ltd., Jiangxi Zhengtuo New Energy Technology and Jiangxi Zichen Technology. The major market players adopt growth strategies such as new product launches, patenting new technologies, joint ventures, and undertaking research activities and collaborations, contributing to the industry’s growth.

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