The consumption of refined soft lead for storage battery manufacturing in the US has seen varying trends from 2013 to 2023, standing at 801.19 thousand metric tons in 2023. The consumption shrank considerably in 2013 and 2020, but overall recorded a steady incline with modest year-on-year increments. Over the last two years (2022-2023), the volume increased by 0.26%, indicating stability. The 5-year CAGR leading up to 2023 stood at 0.27%, indicating slow yet positive growth. Looking ahead from 2024 to 2028, the forecast suggests a slight reduction in the growth rate with a CAGR of 0.21%.
Future trends to watch for:
Market participants should keep an eye on the advancements in battery technologies and increasing demand for electric vehicles as they may substantially impact the lead-acid battery market. Regulatory changes concerning environmental impacts and lead use might also influence market dynamics. Additionally, the level of recycling and the evolution of alternative materials are critical factors to monitor for future forecasting.
