The global battery market worth is worth USD 100 billion and is growing at a rapid pace owing to increasing application of batteries in various industries. Alloy used in batteries are one of the most important components, which sustain the battery functionality. Different kinds of battery require different varieties of battery alloy as per the requirement of the respective applications. Batteries can be broadly classified into primary batteries and secondary batteries. The most common types of battery alloys contain metals such as lead, selenium, calcium, antimony and tin. Alloys are generally used in the battery anodes.
The battery alloys market has been propelled by the growth of battery market across the world. New applications of battery are developed every other day and the technological advancement and reach among the masses have augured well for the battery market and subsequently the battery alloy market. Battery alloys find most of its demand from the automotive industry. The growth of automotive market in Asia Pacific and the reviving market in North America has fuelled the growth of battery alloy market. Moreover the gradual transformation of petroleum driven car into battery operated vehicles and hybrid vehicles have boosted the battery alloy market. Industrial usage of batteries is the second largest market for battery alloys. Manufacturing industries require extensive battery service for power backup and storage. The grids in these high power batteries are made of alloys such as lead antimony, lead calcium and lead selenium. The high growth of manufacturing sector and the growth of transportation infrastructure are the leading causes for the growth of battery alloy market.
There is very little threat to the battery alloy market since it is indispensible to the batteries. However some alloys are preferred over the others owing to environmental concerns as well as functionality. Although lead alloys display extremely good characteristics, the use of lead in battery alloys are increasingly discouraged. Lead calcium battery alloy is again preferred over lead antimony due to its higher longevity and performance dynamics.
The major opportunity of the battery alloy market lies in the electric vehicles application. Matured economies of North America and Europe have shifted focus towards electric vehicles in a bid to achieve a sustainable future free of petroleum requirements. According to research about 40% of all cars on road in 2035 will be electrically powered in North America which is one of the largest market for automotives. Asia Pacific region has also initiated the process of promoting hybrid vehicles which is expected to provide tremendous stimulus to the battery alloy market.
Som of the major companies operating in this market are Mitsubishi Corporation and Furukawa Co.Ltd among many others.