The global demand for battery materials is projected to increase 8.3 percent per year to reach $46.8 billion in 2019, according to a new report by the Freedonia Group. A variety of factors are contributing to the growing demand, including the proliferation of mobile phones and tablets, the rising use of motor vehicles in developing countries, and the increasing production of hybrid and electric vehicles.
Batteries are manufactured using a broad range of materials. The major types are metals, chemicals, polymers, carbon and graphite, silicas, glass fibers, paper, rubber, and ceramics. Globally, metals accounted for 66 percent of materials demand in 2014, due to the large volumes of lead, zinc, steel, and nickel used in the battery industry. Read on to learn more about the market for battery materials and what changes analysts expect to see in the coming years.