Exploring the lithium-ion battery material market by cathode material, anode material, electrolyte, and separator from 2024 to 2034.
The lithium-ion battery material market, which saw a 28.4% CAGR from 2019 to 2023, is expected to grow steadily at 23.9% CAGR from 2024 to 2034. This growth is fueled by the expanding electric vehicle market, driven by government incentives and technological advancements. Additionally, the integration of renewable energy sources like solar and wind into the grid is accelerating, with lithium-ion batteries playing a vital role in storing excess energy, enhancing grid stability, and providing backup power during peak demand period.
