World Battery and Fuel Cell Chemicals and Materials Market to Reach $21.2bn by 2010 (3-Aug-07)
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Full article: World Battery and Fuel Cell Chemicals and Materials Market to Reach $21.2bn by 2010 (3-Aug-07)
Scientists are continuously developing alternative sources of power, which have higher energy density, longevity, are more economical, commercially viable, and above all, environmental friendly. Fuel cells provide power with zero emissions. Demand for fuel cell materials is slated to grow steadily through 2010. The market for polymers and carbon/graphite is expected to grow rapidly due to their increased use in fuel cells. Electrodes are expected to continue as the major functional materials segment due to the increased production of fuel cell systems.
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Scientists are continuously developing alternative sources of power, which have higher energy density, longevity, are more economical, commercially viable, and above all, environmental friendly. Batteries are one of the most widely used sources of power particularly in automobiles and UPS systems while fuel cells are the latest addition providing power with zero emission. Materials and chemicals used in their making are very important for commercial viability as they are instrumental in determining efficiency, voltage, current, and safety of the power producing system.
San Jose, California (PRWEB), July 19, 2007 -- World Battery & Fuel Cell Chemicals and Materials market (www.strategyR.com/MCP-1140.asp) is projected to maintain a strong CAGR of 6.7% over 2001-2010 to reach US$21.2 billion by 2010. Japan, with a share estimated at 29.04% in 2006, constitutes the largest market, while Asia-Pacific, with a CAGR of 9.39% over 2001-2010, represents the fastest growing market for battery & fuel cell chemicals and materials.
Metals market constitutes the largest segment in the global battery & fuel cell chemicals and materials market with an estimated share of 48.79% in 2006. On the other hand, Polymers market (www.strategyR.com/MCP-1140.asp) is forecast to be the fastest growing segment, with a CAGR of 8.89% over 2001-2010. Other segments analyzed include Chemicals market (www.strategyR.com/MCP-1140.asp) used in batteries & fuel cells and Other Materials (including Carbon and Graphite) market (www.strategyR.com/MCP-1140.asp).
Demand for battery and fuel cell materials is slated to grow steadily through 2010. Demand for pure and premium quality materials would increase on account of rising demand from product designers and consumers for durable batteries. Battery production and demand for materials would rise with increase in demand for high-drain electronic products.
The market for polymers and carbon/graphite is expected to grow rapidly due to their increased use in fuel cells, rechargeable lithium, and other sophisticated batteries, according to research published by Global Industry Analysts, Inc. Nanomaterials market would also grow at a high pace with the capability to enhance the efficiency of fuel cells and batteries.
Good sales potential of platinum, titanium, lithium and other smaller volume metals would help growth in demand for metals, which would constitute the major part of the fuel cell and battery consumption. The market for chemicals, controlling the second highest market share of overall materials, is also expected to increase due to growth in manufacture of lithium batteries.
Electrodes are expected to continue as the major functional materials segment due to the increased production of fuel cell systems, lithium, and other complex battery types. The battery market would also record a strong growth because of the materials incorporated in electrolytes, separators, catalysts, and performance additives.
Globalization has brought boom in the Information Technology sector and with it, came ever-increasing demand for computers, mobile phones, and camcorders. These products are dependent on batteries for their back up power supply. As the development is taking place in these products, demand for high performance, rechargeable batteries is growing rapidly. With every passing day, computers and mobile phones are becoming leaner, more compact, and efficient, therefore, demanding even better performance from rechargeable batteries.
Hence, many battery manufacturers are turning towards high performance rechargeable batteries and adapting them according to the demand. As the market for these batteries is growing, the demand for chemicals and materials used in the production of these batteries is also growing by leaps and bounds. Market for Lithium, Zinc, and Nickel is expanding. Lithium, being able to store very high energy in a small space, is leading the pack. Of late, due to hazards of lithium and costly technology of Lithium-ion, the market is shifting towards Lithium polymers. The production capacities are now drifting towards the development of Lithium polymers for use in high performance rechargeable batteries.
Major companies covered in the report titled "Battery & Fuel Cell Chemicals and Materials: A Global Strategic Report" by Global Industry Analysts, Inc. include Asbury Carbons, Cabot Corporation, Daramic Inc., Delta plc, DuPont, Energizer Holdings, Exide Technologies, GrafTech International, H.C. Starck, Hammond Group Inc., Johnson Matthey Fuel Cells, OM Group Inc., SGL Carbon, Shepherd Chemical Company, Spectrum Brands and Superior Graphite Company.
For more details about this research report, please visit www.strategyR.com/MCP-1140.asp.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
- Source: PR-GB
