Global New Energy Battery Metal Extractant Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 10.3% from 2024 to 2030.
The New Energy Battery Metal Extractant Market is experiencing rapid growth, driven by the escalating demand for electric vehicles (EVs) and renewable energy storage solutions. In 2023, the market was valued at approximately $1.14 billion and is projected to reach $11.16 billion by 2030, reflecting a compound annual growth rate (CAGR) of 35.1% during the forecast period.
Key metals such as lithium, cobalt, and nickel are essential for battery production. Efficient extraction methods are crucial to meet the increasing demand. Innovations in direct lithium extraction (DLE) technologies are noteworthy. For instance, SLB, formerly known as Schlumberger, has launched a DLE system after successful tests in Nevada, aiming to produce lithium for EV batteries by 2027. This system can extract up to 90% of lithium from brines, a significant improvement over traditional methods.
Major industry players are actively securing their positions in the market. Exxon Mobil has entered a non-binding lithium supply agreement with LG Chem, intending to supply up to 100,000 metric tons of lithium over several years. This move underscores the strategic importance of securing a stable lithium supply chain for battery manufacturing.
Government initiatives further bolster the market's expansion. The U.S. Department of Energy has announced over $3 billion in funding for more than two dozen battery projects across 14 states. This investment aims to enhance domestic battery manufacturing capabilities, crucial for EVs and renewable energy storage, and is expected to create approximately 12,000 jobs.
In my experience, the surge in EV adoption has heightened the focus on sustainable and efficient extraction processes. The industry's commitment to innovation and strategic partnerships is evident in the recent developments. The emphasis on reducing environmental impact while meeting demand is a positive trend that aligns with global sustainability goals.
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BASF
Solvay S.A
DAIHACHI
ExxonMobil Product Solutions
KopperChem
CSIRO
Eaglesky
Clariant AG
Huntsman International LLC
International Battery Metals
SNF Floerger
Suzhou Bojie Resin Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global New Energy Battery Metal Extractant Market
High Concentration Alkaline Solution
Low Concentration Alkaline Solution
Based on Types the Market is categorized into Below types that held the largest New Energy Battery Metal Extractant market share In 2023.
Lithium Extractant
Cobalt and Nickel Extractant
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global New Energy Battery Metal Extractant Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global New Energy Battery Metal Extractant Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global New Energy Battery Metal Extractant Market, By Type
6. Global New Energy Battery Metal Extractant Market, By Application
7. Global New Energy Battery Metal Extractant Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global New Energy Battery Metal Extractant Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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