EV Battery Cell and Pack Materials Market Segmented by Application and Geography Trends, Growth and Forecasts By 2030

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EV Battery Cell and Pack Materials Market to
Signify Strong Growth by 2022-2030
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Global Market Scenario of EV Battery Cell and
Pack Materials Industry
The ecosystem of electric mobility continues to
expand, leading to increased requirements for
components such as cells and batteries. As a
result of a spike in retail electric vehicle
sales, EV battery cell and pack material market
manufacturing rates will likely surge, especially
in developed countries. Based on statistics from
the U.S. Energy Information Administration, the
sales of 200- and 300-mile battery electric
vehicles are projected to grow from 0.34 million
to 1.52 million between 2021 and 2050. This high
popularity of BEVs will encourage regional
automakers to develop advanced EV battery cell
and pack components. Furthermore, government
agencies have been introducing stringent
greenhouse gas emission norms for passenger cars
and other vehicles. Factors like these will
facilitate a shift from internal combustion
engines to battery-powered vehicles and
consequently foster the EV battery cell and pack
materials market growth over the forthcoming
years.
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Continue-
In light of the accelerating transition to
battery-electric vehicles, automobile vendors are
emphasizing the improvement of battery cell
chemistries and the expansion of material
production facilities. Given below are three key
initiatives bolstering EV battery cell and pack
materials industry expansion Usage of lithium
iron phosphate battery cell chemistry in Ford EV
models To cater to the robust demand for
electric vehicles, automobile manufacturers are
emphasizing improved sourcing of battery raw
materials, as part of their commitments to
sustainability and carbon neutrality. Citing an
instance, in July 2022, Ford added lithium iron
phosphate (LFP) battery cell chemistry to its
portfolio, creating more capacity for batteries
with minimal range loss. This material was
intended to reduce reliance on nickel and other
crucial minerals and cut battery costs. The
automaker also announced the use of this
prismatic LFP cell-to-pack technology from
Contemporary Amperex Technology Co., Ltd. in
Mustang Mach-E and F-150 Lightning models for
sale in North America. These initiatives will
contribute to the popularity of EV battery cell
and pack equipment across the region.
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Niobium pentoxide material development for EV
battery anodes The anode is a key consideration
in ensuring enhanced lithium-ion EV battery
charging. It is commonly made of energy-dense
graphite, which has charging limitations due to
the risk of fire explosions. Against the backdrop
of the burgeoning demand for batteries with high
energy and faster-charging properties,
educational institutions have been designing
novel battery materials. For example, in May
2022, researchers at Boise State University and
the University of California San Diego developed
a new approach to creating lithium-ion battery
materials. Under the project, they transformed an
amorphous material into a crystalline niobium
pentoxide anode material with exceptional
charging attributes. This adoption of novel
approaches to revolutionize battery charging will
contribute to the production of EV battery cell
and pack materials worldwide.
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Competitive Analysis
Cathode active material facility construction for
GMs Ultium batteries in Canada Canada, which is
rich in electric vehicle battery materials
including lithium, nickel, cobalt, and graphite,
has been seeking the support of battery makers to
make a net-zero transition and safeguard the
future of the auto manufacturing industry. In
keeping with this, in March 2022, General Motors
Co and POSCO Chemical announced the construction
of a 400 million facility for battery materials
to ramp up EV production in Quebec, Canada. This
facility was intended to be built to produce
complex CAM (cathode active material) for use in
the Ultium batteries of GM. Since the adoption
of electric mobility is gaining momentum, there
has been an upward trend in designing novel
battery components. Carmakers have been expanding
their battery material facilities as part of EV
portfolio expansion plans. With the issuance of
strict emission standards for the automotive
industry, EV production will surge and in
consequence, create a strong outlook for EV
battery cell and pack materials developers.
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