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Lithium Primary Batteries Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Lithium Primary Batteries Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071857
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the lithium batteries market are Hitachi Maxell, Ultralife, Energizer, FDK Corporation, Tadiran, Vitzrocell, EVE Energy, Panasonic, SAFT, and Varta.

The global lithium primary batteries market is expected to grow from $11.28 billion in 2020 to $12.24 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $19.07 billion in 2025 at a CAGR of 11.7%.

The lithium batteries market consists of sales of batteries that use lithium metal or lithium compounds as an anode by entities (organizations, sole traders and partnerships) that manufacture lithium primary batteries. Only goods and services traded between entities or sold to end consumers are included.

In May 2019, Ultralife Corporation, a global company that designs and manufactures batteries announced the acquisition of Southwest Electronic Energy (SWE) for $25 million.The acquisition is expected to enhance Ultralife Corporation’s extensive portfolio of battery and charger technologies and expands the company’s technical expertise into new industry segments.

Southwest Electronic Energy (SWE) is a Texas-based battery power system designer and manufacturer.

The lithium batteries market covered in this report is segmented by type into lithium/thionyl chloride battery (Li/SOCl2), lithium/manganese dioxide battery (Li/MnO2), lithium/polycarbon monofluoride battery (Li/CFX), by application into aerospace and defense, medical, industrial, others.

The launch of paper-based bio-battery powered by bacteria has created immense demand in the lithium primary batteries market.Paper has unique edges as a material for biosensors.

With its unique advantages as a material for biosensors, it is being used in the development of paper-based bio-battery.For instance, in 2018, the researchers at the State University of New York developed a new type of battery made of paper and fuelled by bacteria.

By integrating bacteria into paper batteries, researchers created a cheap, sustainable way to power billions of sensors and devices.The paper battery currently has a shelf life of about four months and is for one-time use.

As commercial batteries are too wasteful and expensive and cannot be integrated into paper substrates, the best solution is to shift to a paper-based bio-battery.

Increasing demand for consumer electronics contributed to the growth of the lithium primary batteries market.Non-rechargeable primary batteries such as dry-batteries and button-type batteries are commonly used in appliances like remote controls for TVs, clocks, and toys.

According to the India Brand Equity Foundation, electronics manufacturing is expected to grow at an annual rate of 30% between 2020 to 2025. Moreover, the Indian appliances and consumer electronics market was valued at $10.93 billion in 2019 and projected to double to reach $21.18 billion by the end of 2025. Lithium primary cell batteries are central units in many consumer electronics goods. The primary batteries market experiences huge demand from the consumer electronics segment, which in turn is anticipated to propel the revenues generated for the lithium primary batteries market.

During the forecast period, the demand-supply gap in the lithium industry is expected to hinder the growth of the lithium primary batteries market.Lithium is an integral component of batteries which are widely used in daily life.

Due to the soaring demand for lithium batteries, there is growing concern about whether there is enough lithium to keep up with rising demand.In 2018, Chilean lithium mining giant SQM anticipated that the global lithium industry will need $10 to $12 billion of investment over the next decade to meet surging demand brought about by the lithium batteries boom.

Furthermore, the demand for the metal is predicted to grow by 600,000 to 800,000 tons over the next 10 years.Since the recycling of lithium batteries is still under development, and there are also certain regulatory challenges coupled with challenging technical processes and collection procedures, a shortfall in supplies of lithium, as well as other metals used in batteries is expected.

This is likely to slow down the production of batteries which would affect the lithium primary batteries market growth.

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