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The Increasing Demand For Consumer Electronics Is A Major Growth Driver For The Lithium Primary Batteries Market

Lithium Primary Batteries Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

Lithium Primary Batteries Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Lithium Primary Batteries Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026

LONDON, GREATER LONDON, UK, September 19, 2022 /EINPresswire.com/ -- The lithium batteries market consists of sales of batteries that use lithium metal, or lithium compounds, as an anode by manufacturers of lithium primary batteries. The voltage of lithium batteries ranges from less than 4.5V to above 48V, and they are available in rechargeable and non-rechargeable varieties. Lithium batteries are used across multiple end-use sectors, including aerospace and defense, medical, industrial, and other applications.

Reference to the Global Market Model, will evidence the rise in demand with the Lithium Primary Batteries Global Market anticipated to grow from $2.85 billion in 2021 to $2.92 billion in 2022, at a compound annual growth rate (CAGR) of 2.6%. The growth in the lithium batteries market is due to companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures and the closure of commercial activities. Additionally, the increasing demand for consumer electronics contributed to the growth of the lithium batteries market with non-rechargeable primary batteries, such as dry-batteries and button-type batteries, commonly used in consumer appliances like remote controls for TVs, clocks, and toys. The primary batteries market experiences huge demand from the consumer electronics segment, which in turn is anticipated to propel the revenues generated for lithium primary batteries with the market size projected to reach $3.08 billion in 2026 at a CAGR of around 1.6%, further growing to approach $3.24 billion by 2031 at a CAGR of 1%.

Asia-Pacific was the largest region in the lithium primary batteries market, accounting for around 37% of the global market in 2021, with North America and Western Europe following behind with around 26% and 24% of the global market, respectively. Asia-Pacific is also expected to show the most growth, both to 2026 and then onward through 2031. Africa was the smallest region in the lithium primary batteries market. By individual country, the USA had the largest share of the global market, accounting for around 22%, with China following in second position with a share of 18%. China, however, is forecast to show the most growth through 2026 and into 2031, narrowing the gap between the two countries.

The main types of lithium batteries are lithium/thionyl chloride batteries (Li/SOCl2), accounting for around 40% of the market; lithium/manganese dioxide batteries (Li/MnO2), with around 47% of the market; and lithium/polycarbon monofluoride batteries (Li/CFX), with the remaining 13% of the market. All segments, though, are forecast to show similar growth rates in the period 2021 to 2026, with CAGRs of around 1.5%.

In terms of trends, the launch of paper-based bio-batteries powered by bacteria has created immense demand in the lithium primary batteries market. Paper has unique advantages as a material for biosensors and is being used in the development of paper-based bio-batteries. By integrating bacteria into paper batteries, researchers have created a cheap, sustainable way to power billions of sensors and devices. A paper battery currently has a shelf life of about four months and is for one-time use only. Commercial batteries can be too wasteful and expensive and cannot be integrated into paper substrates, so it is a viable solution to shift to a paper-based bio-battery.

Lithium Primary Batteries Global Market Report 2022 – By Type (Lithium/Thionyl Chloride Battery (Li/Socl2), Lithium/Manganese Dioxide Battery (Li/Mno2), Lithium/Polycarbon Monofluoride Battery (Li/Cfx)), By Application (Aerospace And Defense, Medical, Industrial), By Voltage (Less Than 4.5V, 4.6V To 12V, 13V To 18V, 19V To 24V, 25V To 36V, 37V To 48V, Above 48V), By Operation (Rechargeable, Non-Rechargeable) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides lithium primary batteries market overviews, analyzes and forecasts lithium primary batteries market size, share, lithium primary batteries market players, lithium primary batteries market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

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