North America Battery Metals Market Share by Size and Growth 2028

North America battery metals market in North America is expected to grow from US$ 1526.0 million in 2021 to US$ 3388.4 million by 2028; it is estimated to grow at a CAGR of 12.1% 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 region 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

North America is one of the worst affected economies due to the COVID-19 pandemic. The unprecedented rise in the number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of the various markets. The market for battery metals has been impacted in the region due to distortion in the supply chain with limited operational efficiencies. The pandemic has also impacted the automotive and consumer electronics industry in the region. However, the market is reviving on account of significant measures taken by the government such as vaccination drives. In the US, according to the car registration data from Experian, about 378,466 electric vehicles were registered from January to October 2021, which was 94% more than in 2020. In 2021, sales of electric vehicles in the US were record-breaking despite supply chain issues. This is expected to provide the impetus for market growth.

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 North America battery metals market. The North America battery metals market is expected to grow at a good CAGR during the forecast period.

North America Battery Metals Market Revenue and Forecast to 2028(US$ Million)

North America Battery Metals Market Segmentation

By Type

North America Battery Metals Market, by Type
Lithium
Nickel
Cobalt

By End User

Electric Vehicles
Consumer Electronics
Energy Storage System
Others

By Country

North America
- US
- Mexico
- Canada

Companies Mentioned -

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

North America Battery Metals Market Strategic Insights

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North America Battery Metals Market Segmentation Analysis

North America Battery Metals Market Report Highlights

North America Battery Metals Report Scope

Report Attribute	Details
Market size in 2021	US$ 1526.0 Million
Market Size by 2028	US$ 3388.4 Million
CAGR (2021 - 2028)	12.1%
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	North America US Canada Mexico
Market leaders and key company profiles	Albemarle Corporation Bolt Metals Corp. Ganfeng Lithium Co.,Ltd. Umicore LG Chem Vale BASF SE Metso Outotec