The soaring record sales of electric vehicles (EVs) and consumer electronics have driven the growth of Battery Chemicals Market. Lithium, cobalt, nickel and other essential elements continue to be the driving force behind the exponential growth.
The article originally published in MENAFN highlights the demand for EVs as game-changer in the automotive industry, amid the rising the demand for environmental and economic sustainability. With battery as one of the major components for improving the performance of EVs, battery chemicals remain a critical factor in the entire process.
Consumer electronics similarly needs better performing batteries with longer-life cycles. With gadgets, laptops and mobile phones becoming integral from home to work to small and large-scale productions, battery chemicals need to meet the demands.
While the Battery Chemicals Market experiences positive growth, the challenges remain, including the sustainability of raw materials and the highly extractive nature of sourcing the minerals. To know more, read the article and request a sample of the report here.