According to ChemAnalyst report, “Global E-Mobility Raw Materials Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global e-mobility raw materials market demand stood at 1.2 Million Tonnes in 2020 and is forecast to reach 4.42 Million Tonnes by 2030, growing at a healthy CAGR of 14.35% until 2030. Growing demand for electric vehicles coupled with the stronger government support worldwide for electric vehicles is expected to drive the demand of e-mobility raw materials for the forecast period. Moreover, increasing population and subsequent vehicle penetration in the market is also a propelling factor supporting demand growth of e-mobility raw materials during the forecast period.
E-mobility raw materials are the materials which are required for manufacturing of electric vehicles. They are of several types including body metals, light weight plastic, and battery chemicals and metals which include cobalt, lithium, and copper. Major application areas of e-mobility raw materials include public transport, commercial vehicles, and personal vehicles. With the growing demand of electric vehicles globally, the demand for energy storage is skyrocketing hence the demand for batter chemicals and metals is expected to grow at the fastest rate among other e-mobility raw materials. Moreover, government initiatives like the India EV policy 2030 are also supporting demand rise for electric vehicles.
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E-mobility raw materials are materials which are used in the manufacturing of electric vehicles. They have application in public transport, commercial vehicles, and personal vehicles. Body metals include aluminum and chrome, light weight plastics include various thermoplastics and high-performance plastics, battery chemicals and metals include lithium, cobalt, and copper. Electric vehicles require charging infrastructure for proper functioning. Hence, the lack of charging infrastructure in several countries can act as a constraint to demand growth.
E-mobility raw materials are related to electric vehicles hence their price is directly linked to the fluctuations in the demand of automotive and electric vehicles. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of automotive rendered a major downfall in the global e-mobility raw materials, hence the prices remained low for e-mobility raw materials during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.
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Regionally, Asia Pacific dominates the Global e-mobility raw materials market and holds the largest market share in FY20. Asia’s e-mobility raw materials market is anticipated to grow in the economies like China due to increasing demand of automotive.
According to ChemAnalyst report, Global E-Mobility Raw Materials Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global e-mobility raw materials market are BASF, American Battery Solutions Inc. BMZ, Bosch, Coslight India, Electrovaya, LG Chem, Northvolt AB.
“Being linked to the electric vehicles industry, the global e-mobility raw materials industry has shown a robust growth alongside growing population and changing consumer preference and increasing awareness about environment friendly nature of electric vehicles. China serves as the key growth region with sufficiently installed capacities for e-mobility raw materials. In South Asia India is all set with its new EV policy 2030 to enter the electric vehicle market. With new competitors emerging across the Asia Pacific e-mobility raw materials market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
