Albany, NY -- (SBWIRE) -- 06/23/2015 -- Battery is an electric cell which produces electricity from chemical reactions. Batteries are used in laptops, cars, portable devices and household devices. Owing to growing industrial applications the global market for battery raw materials is expected to grow significantly through 2018.

The global market for battery raw materials observed rapid growth in the past several years and is expected to grow at a considerable rate in the future. North America is the leading regional market in the global battery raw materials market and Asia-Pacific represents the fastest growing regional market. Growth in this industry is driven by growth in the demand of high energy efficient devices, such as high performance portable devices, digital cameras, and camera phones.

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Government efforts to reduce fuel consumption in developing as well as developed countries without changing driving habits has resulted in a demand for hybrid electric vehicles. Growing industrialization in developing countries, the growing laptops and mobile market, and automobile industry will act as drivers for this industry. Increasing prices of key raw materials such as lithium, lead, cobalt, and magnesium will act as a challenge for the global battery raw materials market. Battery raw material manufacturers can command a good opportunity in the global market by improving the quality and efficiency of raw materials in terms of energy and storage.

Based on functions, the global market for battery raw materials is segmented into cathode market, anode market, electrolyte market and separator market. Based on applications, the global market for battery raw materials is segmented into laptops, cellular, automotive, camcorders, household devices, portable devices, digital cameras and others. The global market by geography is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

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Some of the key players in this industry include, BYD Company Limited, Battery Technology, Inc., Danionics A/S, E-One Moli Energy Ltd., VARTA Consumer Batteries GmbH & Co.,FDK Corporation, Duracell International, Inc., Eveready Industries India Ltd., GS Yuasa Corp., LG Chem, Energizer Holdings, Inc., Uniross Batteries, Panasonic Corporation, Hitachi Maxell Ltd., Sanyo Electric Co., Ltd., Sony Corp., Samsung SDI Co., Ltd., Spectrum Brands Incorporated, GP Batteries International Limited, KgaA TCL Hyperpower Batteries, Inc., Saft Groupe SA, Valence Technology, Inc. and others.

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