Electronic Vehicles segment has the Largest Share of Application in the Middle East and Africa Battery Metals Market during 2021–2028 

According to a new market research study on “Middle East and Africa  Battery Metals Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application and Country” is expected to reach US$ 1071.8 million by 2028 from US$ 509.6 million in 2021. The market is estimated to grow at a CAGR of 11.2% from 2021 to 2028.The report provides trends prevailing in the Middle East and Africa battery metals market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase in demand for electrical vehicles and growing demand from consumer electronics industry are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to volatility in the raw material prices of battery metals.

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.

The market for Middle East and Africa Battery Metals Market is segmented into the type, application and country. Based on type, the Middle East and Africa Battery Metals Market is segmented into lithium, nickel, cobalt, and others. In 2021, the electric vehicles segment accounted for the largest market share moreover registered the highest CAGR during the forecast period .The electric vehicles is known for the better alternative of fossil fuel based vehicles. Thus the rise in demand of electric vehicles has boosted the growth of batteries market, which, in turn, is expected to propel the growth of battery metals market.

Albemarle Corporation, Bolt Metals Corp., Ganfeng Lithium Co., Ltd., Umicore, LG Chem,., Vale , BASF SE, and Metso Outotec.The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for Middle East and Africa Battery Metals Market is segmented into type and application. Based on type, the Middle East and Africa Battery Metals Market is segmented lithium, nickel, cobalt, and others. Based on application, the Middle East and Africa Battery Metals Market is segmented into electric vehicles, consumer electronics, energy storage systems, and others. By Geographically, Middle East and Africa Battery Metals Market is segmented into (South Africa, South Arabia, UAE and Rest of Middle East and Africa).

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