Report : South and Central America Battery Metals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Lithium, Nickel, Cobalt, and Others), Application (Electric Vehicles, Consumer Electronics, Energy Storage Systems, and Others).
Electronic Vehicles segment has the Largest Share of Application in the South and Central America Battery Metals Market during 2021–2028
According to a new market research study on “South and Central America Battery Metals Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application and Country” is expected to reach US$ 509.0 million by 2028 from US$ 250.7 million in 2021. The market is estimated to grow at a CAGR of 10.6% from 2021 to 2028.The report provides trends prevailing in the South and Central America battery metals market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase in demand for electrical vehicles and growing demand from consumer electronics industry are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to volatility in the raw material prices of battery metals.
Brazil has been ranked to be the third-most affected economy due to the COVID-19 pandemic globally. The governments in South and Central America have taken an array of actions to protect their citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. The Covid-19 pandemic has disrupted economic activity and markets in the region. This may have an impact on the growth of the battery metals market.
The market for South and Central America Battery Metals Market is segmented into the type, application and country. Based on type, the South and Central America Battery Metals Market is segmented into lithium, nickel, cobalt, and others. In 2021, the electric vehicles segment accounted for the largest market share moreover registered the highest CAGR during the forecast period .The electric vehicles is known for the better alternative of fossil fuel based vehicles. Thus the rise in demand of electric vehicles has boosted the growth of batteries market, which, in turn, is expected to propel the growth of battery metals market.
Albemarle Corporation, Bolt Metals Corp., Ganfeng Lithium Co., Ltd., Umicore, LG Chem,., Vale , BASF SE, and Metso Outotec.The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for South and Central America Battery Metals Market is segmented into type and application. Based on type, the South and Central America Battery Metals Market is segmented lithium, nickel, cobalt, and others. Based on application, the South and Central America Battery Metals Market is segmented into electric vehicles, consumer electronics, energy storage systems, and others. By Geographically, South and Central America Battery Metals Market is segmented into (Brazil, Argentina and Rest of South and Central America).
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