Titanium Fluoride Phosphate Market Segmentation:
Battery Type Segment Analysis
The lithium-ion battery segment is estimated to account for 49% share of the titanium fluoride phosphate market in the year 2035. The growth of the segment can be attributed to the growing demand for batteries made up of lithium. The advent of electric vehicles has boosted its demand. Moreover, lithium-ion batteries find their application in various devices, such as pacemakers, solar energy storage, watches, digital cameras, smartphones, laptops, and others. The demand for lithium-ion batteries for electric vehicles (EVs) is fast increasing; it is expected to reach 9,300 gigatonnes-hours (GWh) by 2030, representing a 1,600% increase over 2020 levels across the globe.
Application Segment Analysis
Titanium fluoride phosphate market from the electric vehicle segment is expected to garner a significant share of around 40% in the year 2035. Electric car sales have expanded exponentially in recent years, owing to the enhanced range, greater model availability, and improved performance. The growth of the segment is attributed to the growing setup of battery factories specifically for electric vehicles. Volkswagen has introduced its plan to establish 6 new factories in Europe to achieve a combined capacity of 240 GWh by 2030. Moreover, the Pansonic-Tesla Gigafactory 1 in Newada is the world's largest mega factory, having an annual capacity of 37 GWH.
Our in-depth analysis of the global titanium fluoride phosphate market includes the following segments:
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Battery Type |
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Application |
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End User |
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