Saudi Arabia Battery Material Market

The battery is an electric cell that generates power using a chemical reaction. The battery consists of one or more electrochemical cells with an external connection to operating electric devices such as smartphones, electric vehicles, and other devices. There are two electrodes in the battery; cathode and anode. Cathode connects the positive end of the battery, where the electric current leaves the battery during discharge in order to provide power to something. On the other hand, anode connects to the negative end of the battery where the electric current enters during the discharge. The materials used in the batteries are lithium-ion, lead-acid, among others. The batteries are extensively used for various applications such as portable devices, electric vehicles automotive, industrial, among others.

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The major factors that are driving the growth of the Saudi Arabia battery material market include the increasing demand for li-ion technology due to the growing number of projects in the renewable energy industry such as Sakaka solar PV plant and the 400-MW Dumat Al Jandal wind farm, along with the strong demand for smart devices and other consumer electronics. The rising emphasis of the Saudi Arabian government towards the adoption of the electric vehicle to reduce carbon emission and the increasing penetration of renewable energy owing to the growing population rate is further surging the market’s demand in the coming years.

Moreover, the increasing energy demand from various industrial, residential, and commercial sector, is further accelerating the growth of the battery material market during the forecast period. For example, the government of Saudi Arabia is investing heavily in the renewable energy sector and has launched National Renewable Energy Program (NREP) in line with Saudi Arabia Vision 2030 with a target of 58.7GW by 2030. The rising number of government initiatives such as smart city project “Neom,” entertainment city project “Qiddiya,” and other projects will surge the demand of devices for gaming, surveillance, construction, among others. This factor will encourage the adoption of batteries, thus boosting the demand for battery materials. High disposable income in the country, growing urbanization and industrialization will have a positive impact on the market’s demand. In addition to this, the high demand for li-ion battery in the renewable energy industry for energy storage, along with the declining prices of the li-ion battery will bring numerous growth opportunities in the market. On the other edge, the lack of charging infrastructure and stringent safety requirements for batteries during operation are restraining the growth of the market.

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Based on the battery type, the lead-acid segment is expected to capture the larger market share during the forecast period owing to the increasing adoption of lead-acid across various areas such as power backup, security system, emergency lighting, renewable energy system, oil & gas explorations, among others. On the other hand, the Li-ion segment is projected to witness a higher CAGR during the forecast period owing to the increasing adoption of li-ion for various applications such as smartphones, laptops, automotive, among others, coupled with the increasing environmental concern to reduce CO2 emission.

Based on the material, the lead-acid battery material segment is expected to grow at a higher CAGR during the forecast period. The lead-acid battery is widely used for commercial and residential power backup in Saudi Arabia, which is increasing the demand for lead-acid battery, thus fuelling the growth of the segment. The lead-acid battery material comprises cathode material, anode material, electrolyte material, separator material, and other materials.

Based on the application, the lead-acid battery segment is anticipated to dominate the market in the coming years. The increasing demand for battery materials, particularly in the automotive sector, the increasing number of government initiatives to support the adoption of lead-acid batteries, are the major factors that are surging the demand of the segment in the market over the coming years. In addition to this, the increasing demand for the automotive vehicles such as passenger cars, commercial cars, motorcycles, among others, is accelerating the demand for the lead-acid battery for Starting, Lighting, and Ignition (SLI). This factor is further propelling the growth of the segment.

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Various notable players operating in the Saudi Arabia Battery Material market include Asahi Kasei Corporation, POSCO E&C Saudi Arabia, Saudi Arabia BASF, Dow Saudi Arabia, Toray Membrane Middle East LLC (TMME), and Sumitomo Corporation Saudi Arabia Ltd., among others.

The Saudi Arabia Battery Material market has been segmented based on battery type, material, and application. Based on the battery type, the market is segmented into Li-ion, Lead Acid, and Others. Based on material, the market is segmented into Li-ion battery material, lead-acid battery material, and other battery material. Based on li-ion battery material, cathode material, anode material, electrolyte material, separator material, and other materials. Cathode Material is further segmented into Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Nickel Manganese Cobalt (NMC)¸ Lithium Nickel Cobalt Aluminum (NCA), and Lithium Manganese Oxide (LMO). Anode material is further segmented into Natural Graphite¸ Artificial Graphite and Other Anode Materials. Based on lead-acid battery material, the market is further segmented into cathode material¸ anode material, electrolyte material, separator material, and other materials. Based on application, the market is segmented into Li-ion battery, lead-acid battery, and Others. Based on the li-ion battery, the market is segmented into portable devices, electric vehicles, industrial, and others. Based on the lead-acid battery, the market is segmented into automotive and industrial.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia Battery Material market growing? What will be the trend in growth in the future?
  • What are the key drivers and restraints in the Saudi Arabia Battery Material market? What will be the impact of drivers and restraints in the future?
  • Which Battery Type generated maximum revenues in 2019 and identify the most promising Battery Type during the forecast period?
  • What are the various application areas of the Saudi Arabia Battery material market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia Battery Material Market by Battery Type

• • Li-ion
  • Lead Acid
  • Others

Saudi Arabia Battery Material Market by Material

• • Li-ion Battery Material
    • Cathode
      • Lithium Iron Phosphate (LFP)
      • Lithium Cobalt Oxide (LCO)
      • Lithium Nickel Manganese Cobalt (NMC)
      • Lithium Nickel Cobalt Aluminium (NCA)
      • Lithium Manganese Oxide (LMO)
    • Anode
      • Natural Graphite
      • Artificial Graphite
      • Other Anode Materials
    • Electrolyte Material
    • Separator Material
    • Other Materials
  • Lead-Acid battery Material
    • Cathode Material
    • Anode Material
    • Electrolyte Material
    • Separator Material
    • Other Materials
  • Other Battery Materials

Saudi Arabia Battery Material Market by Application

• • Li-ion Battery
    • Portable Devices
    • Electric Vehicles
    • Industrial
    • Others
  • Lead-acid Battery
    • Automotive
    • Industrial
  • Others

Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Asahi Kasei Corporation
  • POSCO E&C Saudi Arabia
  • Saudi Arabia BASF
  • Dow Saudi Arabia
  • Toray Membrane Middle East LLC (TMME)
  • Sumitomo Corporation Saudi Arabia Ltd.