The global lithium-ion battery anode market size is projected to grow from USD 8.4 billion in 2021 to USD 21.0 billion by 2026, at a CAGR of 19.9% from 2021 to 2026. Factors such as strict government mandates on fuel economy, rising concerns related to environmental issues, which include greenhouse gas and an increase in R&D initiatives are expected to drive the growth of the market.
Europe is the second-largest consumer of lithium-ion battery anode and accounted for a share of 6.1% of the global market, in terms of value, in 2020. The region is home to some of the largest battery manufacturers, such as Saft (France) and FIAMM (Italy). Batteries have major applications as clean, sustainable, and compact sources of power in automotive. The region is witnessing significant growth in the demand for EVs which is largely dependent on government incentives and funds. Growth in demand for electric vehicle has increased the demand for lithium-ion battery anode which in return has fueled the demand for lithium-ion battery anode in the region.
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Some of the key players in the lithium-ion battery anode market include Showa Denko Materials (Japan), JFE Chemical Corporation (Japan), Kureha Corporation (Japan), SGL Carbon (Germany), Shanshan Technology (China), and POSCO CHEMICAL (South Korea). The lithium-ion battery anode market report analyzes the key growth strategies adopted by the leading market players between 2017 and 2021, which include expansions, investments, and mergers & acquisitions.
Showa Denko Materials is one of the leading companies engaged in the manufacturing of lithium-ion battery materials. The company manufactures a wide range of chemicals and electronics related products. In April 2021, Showa Denko Materials established a local production for graphite electrodes in Southeast Asia and Europe. This will help the company to strengthen its supply chain and geographical presence.
Another player in the lithium-ion battery anode market is SGL Carbon. The company is among the leading manufacturers of specialty graphite and composite materials. In April 2021, SGL Carbon signed a collaboration agreement with Altech Chemicals for the development of high purity alumina-coated (HPA) graphite materials for use by the lithium-ion battery industry in anode application.
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