Middle East and Africa Battery Metals Market Share by Size and Growth 2028

Middle East and Africa battery metals market in Middle East and Africa is expected to grow from US$ 509.6 million in 2021 to US$ 1071.8 million by 2028; it is estimated to grow at a CAGR of 11.2% from 2021 to 2028.

The electric vehicle has proven to be an essential technology in terms of reducing air pollution in densely populated areas and a promising option for contribution in energy diversification and the reduction in greenhouse gas emission objectives. Various benefits of electric vehicles include zero tailpipe emissions, the potential for greenhouse gas emissions reductions, better efficiency than internal combustion engine vehicles, etc. Electric vehicles are expanding significantly as technological progress in the electrification of two/three-wheelers, buses, and trucks advances and their market grows. The continued electrification of transport requires vast volumes of lithium-ion batteries. This in turn is creating demand for battery metals. Growing adoption of electric vehicles in various countries across the country has increased the demand for rechargeable batteries and their input commodities, including lithium, cobalt, nickel, manganese, and copper. Thus, due to all these factors, demand for electric vehicles/hybrid electric vehicles/plug-in hybrid vehicles is increasing. This, in turn, is driving the battery metals market substantially.

In the Middle East and Africa region, South Africa is among the major countries with a high number of COVID-19 confirmed cases and deaths. The COVID-19 pandemic has had a severe impact on the economy of the Middle East & Africa. The pandemic has significantly slowed down the growth of the battery metals market in the region. The supply chain for cobalt metal was disturbed due to the pandemic.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East and Africa battery metals market. The Middle East and Africa battery metals market is expected to grow at a good CAGR during the forecast period.

Middle East and Africa Battery Metals Market Revenue and Forecast to 2028(US$ Million)

Middle East and Africa Battery Metals Market Segmentation

By Type

Middle East and Africa Battery Metals Market, by Type
Lithium
Nickel
Cobalt

By End User

Electric Vehicles
Consumer Electronics
Energy Storage System
Others

By Country

Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa

Companies Mentioned -

Albemarle Corporation
Ganfeng Lithium Co., Ltd.
Umicore
LG Chem
Vale
BASF SE
Metso Outotec

Middle East and Africa Battery Metals Market Strategic Insights

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Middle East and Africa Battery Metals Market Segmentation Analysis

Middle East and Africa Battery Metals Market Report Highlights

Middle East and Africa Battery Metals Report Scope

Report Attribute	Details
Market size in 2021	US$ 509.6 Million
Market Size by 2028	US$ 1071.8 Million
CAGR (2021 - 2028)	11.2%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Lithium Nickel Cobalt By Application Electric Vehicles Consumer Electronics Energy Storage Systems
Regions and Countries Covered	Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Albemarle Corporation Ganfeng Lithium Co., Ltd. Umicore LG Chem Vale BASF SE Metso Outotec