South America Electric Vehicle Battery Anode Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.03 Million |
| Market Size (2029) | USD 0.06 Million |
| CAGR (2024 - 2029) | 16.72 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Electric Vehicle Battery Anode Market Analysis
The South America Electric Vehicle Battery Anode Market size is estimated at USD 0.03 million in 2024, and is expected to reach USD 0.06 million by 2029, at a CAGR of 16.72% during the forecast period (2024-2029).
- In the forecast period, the market is poised for growth, driven by the rising adoption of electric vehicles, supportive government initiatives, and declining prices of lithium-ion batteries.
- However, the region's heavy reliance on importing battery components poses a challenge to future market expansion.
- Yet, ongoing research and advancements in anode materials and efficient electrolytes present promising opportunities for market growth.
- Brazil is set to lead the market, fueled by the increasing demand for anode materials in the automotive sector.
South America Electric Vehicle Battery Anode Market Trends
Lithium-ion Battery is Expected to Have a Major Share
- South America's lithium-ion EV battery market is poised for growth, thanks to the region's abundant lithium resources. The Lithium Triangle, spanning parts of Argentina, Bolivia, and Chile, harbors over half of the world's lithium reserves, cementing South America's pivotal role in the global EV supply chain.
- With these vast reserves and a 14% drop in lithium-ion battery pack prices in 2023 (down to USD139/kWh), there's a burgeoning opportunity for domestic manufacturing of electric vehicle batteries and their components, such as anodes.
- In light of these developments, many battery companies are channeling investments into exploring the region's lithium reserves. This surge in exploration and production is set to amplify the demand for lithium-ion batteries in electric vehicles, subsequently heightening the need for battery anodes in their production.
- For example, in July 2024, French mining group Eramet and China's Tsingshan launched a lithium production plant in Salta, Argentina, addressing the electric car industry's rising demands. This strategic investment, amounting to USD 870 million, underscores the site's significance.
- Looking ahead, as the region ramps up investments in lithium-ion battery manufacturing, buoyed by its rich reserves, the market for lithium-ion anodes in EVs is on an upward trajectory. Bolstering this outlook, Bolivia's President, in March 2024, unveiled ambitions to commence battery exports, including EV batteries, by 2026.
- Given the rising adoption of lithium-ion batteries in electric vehicles and their plummeting prices, the lithium-ion battery anode segment is set for substantial growth in the coming years.
Brazil is Expected to have a Significant Share
- Brazil stands as South America's largest automotive market, boasting a robust manufacturing base that hosts numerous global automakers. As the industry pivots towards electrification, this trend has seamlessly transitioned to the production of essential components, notably batteries and battery anodes.
- Moreover, Brazil's rising stature in the EV battery manufacturing arena is shaping the trajectory of its EV battery anode market. With Brazil drawing substantial foreign investments and forging global partnerships to set up battery production facilities, there's a heightened demand for premium anode materials, vital for lithium-ion batteries.
- For example, in September 2023, BYD, a Chinese firm, launched its first battery factory in Brazil. Beyond electric vehicles (EVs), BYD is set to produce electric buses in Brazil, leveraging batteries manufactured on-site. Such strategic moves are poised to amplify the demand for the country's EV battery anode market.
- Furthermore, as electric vehicle sales surge in Brazil, battery manufacturers are increasingly investing in local production, further fueling the demand for EV battery anodes. The International Energy Agency reported that in 2023, Brazil's EV car sales reached 52,000 units, a significant jump from 18,500 units in 2022.
- Looking ahead, bolstered by government backing in the EV battery sector, the battery anode market is poised for growth. Recent policy shifts by Brazil's government have ignited a wave of new investments from vehicle manufacturers. These investments, targeting facility modernization and enhanced R&D, emphasize sustainability and the production of electric and hybrid vehicles. The Brazilian Association of Vehicle Manufacturers highlighted a landmark commitment of USD 22 billion in 2024 investments, extending through 2032.
- Given the surging adoption of EVs and the burgeoning battery manufacturing landscape, Brazil is set to lead the market in the coming years.
South America Electric Vehicle Battery Anode Industry Overview
The South America electric vehicle battery anode market is semi-concentrated. Some of the major players in the market (in no particular order) include Redwood Materials Inc., Mitsubishi Chemical Group Corporation, CBMM, LG Chem Ltd, and Targray Industries Inc., among others.
South America Electric Vehicle Battery Anode Market Leaders
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Redwood Materials Inc.
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Mitsubishi Chemical Group Corporation
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CBMM
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LG Chem Ltd
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Targray Industries Inc.
*Disclaimer: Major Players sorted in no particular order
South America Electric Vehicle Battery Anode Market News
- June 2024: Japan's Toshiba Corporation and Sojitz Corporation, alongside Brazil's CBMM, successfully developed a next-generation lithium-ion battery. This innovative battery incorporates niobium titanium oxide (NTO) in its anode. They inaugurated the unveiling of a prototype E-bus powered by this battery, boasting an ultra-fast charge time of just 10 minutes and a high energy density.
- March 2024: Stellantis announced an investment plan for South America, committing a staggering USD 30 billion from 2025 to 2030. This monumental investment marks the largest in the annals of the Brazilian and broader South American automotive industry. With this influx, the spotlight is set to shine brighter on EV battery manufacturing, paving the way for heightened investments in anode materials as well.
South America Electric Vehicle Battery Anode Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Government Policies and Investments towards battery manufacturing
4.5.1.2 Decline in cost of battery raw materials
4.5.2 Restraints
4.5.2.1 Dependence on Battery Imported Components
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Battery Type
5.1.1 Lithium-ion
5.1.2 Lead-Acid
5.1.3 Other Battery Types
5.2 Material
5.2.1 Lithium
5.2.2 Graphite
5.2.3 Silicon
5.2.4 Others
5.3 Geography
5.3.1 Brazil
5.3.2 Argentina
5.3.3 Colombia
5.3.4 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Redwood Materials Inc.
6.3.2 Anovion LLC
6.3.3 Mitsubishi Chemical Group Corporation
6.3.4 CBMM
6.3.5 NEI Corporation
6.3.6 Targray Industries Inc.
6.3.7 Nexeon Lid.
6.3.8 LG Chem Ltd
6.3.9 Tokai Carbon Co., Ltd.
6.3.10 Resonac Holdings Corporation.
- *List Not Exhaustive
6.4 Market Ranking Analysis
6.5 List of Other Prominent Companies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The Increasing Research and Development of Other Anode Materials
South America Electric Vehicle Battery Anode Industry Segmentation
An electric vehicle (EV) battery anode is one of the two main electrodes in a battery, the other being the cathode. In the context of EV batteries, which are typically lithium-ion batteries, the anode is usually made of graphite.
The South America electric vehicle battery anode market is segmented by battery type, material, and geography. By battery type, the market is segmented into lithium-ion batteries, lead-acid batteries, and others. By material, the market is segmented into lithium, graphite, silicon, and others. The report also covers the market size and forecasts for the market across major countries.
For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).
| Battery Type | |
| Lithium-ion | |
| Lead-Acid | |
| Other Battery Types |
| Material | |
| Lithium | |
| Graphite | |
| Silicon | |
| Others |
| Geography | |
| Brazil | |
| Argentina | |
| Colombia | |
| Rest of South America |
South America Electric Vehicle Battery Anode Market Research Faqs
How big is the South America Electric Vehicle Battery Anode Market?
The South America Electric Vehicle Battery Anode Market size is expected to reach USD 0.03 million in 2024 and grow at a CAGR of 16.72% to reach USD 0.06 million by 2029.
What is the current South America Electric Vehicle Battery Anode Market size?
In 2024, the South America Electric Vehicle Battery Anode Market size is expected to reach USD 0.03 million.
Who are the key players in South America Electric Vehicle Battery Anode Market?
Redwood Materials Inc., Mitsubishi Chemical Group Corporation, CBMM, LG Chem Ltd and Targray Industries Inc. are the major companies operating in the South America Electric Vehicle Battery Anode Market.
What years does this South America Electric Vehicle Battery Anode Market cover, and what was the market size in 2023?
In 2023, the South America Electric Vehicle Battery Anode Market size was estimated at USD 0.02 million. The report covers the South America Electric Vehicle Battery Anode Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Electric Vehicle Battery Anode Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Electric Vehicle Battery Anode Industry Report
Statistics for the 2024 South America Electric Vehicle Battery Anode market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Electric Vehicle Battery Anode analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
