The market for EV battery is expanding quickly along with the EV sector. Therefore, it is anticipated that this trend will be advantageous to chemical businesses that provide the raw ingredients for EV batteries. The top ten chemical stocks listed below may profit in 2024 from the expanding EV battery supply chain.
The top 10 chemical stocks that stand to gain from the expanding supply chain for EV battery industry
The top 10 chemical stocks are mentioned below.
1. Himadri Specialty Chemicals
Heapedri Specialty Chemicals is making significant investments in lithium-ion battery parts. The business is helping India become an indigenous supplier of lithium-ion battery raw materials. Himadri Specialty Chemicals is expected to profit from India’s rising EV battery demand.
2. Albemarle
One of the main suppliers of lithium, an essential part of EV batteries, is Albemarle. The expanding global market for EV batteries is anticipated to be advantageous to the organisation. Albemarle provides major automakers including Tesla, BMW, Toyota, and Honda with raw materials for electric vehicle batteries.
3. Panasonic
Panasonic is a significant supplier to Tesla and makes EV batteries. The expanding global market for EV batteries is anticipated to be advantageous to the organisation. Solid-state batteries, which are anticipated to be the next generation of EV batteries, are another area in which Panasonic is making investments.
4. QuantumScape
Solid-state battery development is being carried out by QuantumScape, a startup in battery technology. In 2021, the business went public through a special-purpose acquisition company. It is anticipated that QuantumScape will profit from the increasing solid-state battery demand in the electric vehicle (EV) sector.
5. Microvast
EV batteries are made by the battery technology start-up Microvast. In 2021, the business went public through a special-purpose acquisition company. The rising demand for EV batteries across the globe is anticipated to be advantageous for Microvast.
6. FREYR Battery
An emerging company in battery technology called FREYR Battery is creating EV batteries. The business went public in 2021 through a company established for particular purposes. The rising demand for EV batteries across the globe is anticipated to be advantageous for FREYR Battery.
7. Sturdy Power
Solid Power is a startup company focused on battery technology, creating solid-state batteries. In 2021, the business went public through a special purpose acquisition company. The EV industry’s increasing need for solid-state batteries is anticipated to be advantageous for Solid Power.
8. Aether Industries
Chemical business Aether Industries wants to get involved in the EV battery value chain. The expanding market for EV battery raw materials is anticipated to be advantageous to the organisation.
9. Ami Organics
A chemical business called Ami Organics wants to get involved in the value chain of electric vehicle batteries. The corporation and a multinational maker of EV batteries have inked a non-binding memorandum of agreement. The increasing need for raw materials for EV batteries is anticipated to be advantageous for Ami Organics.
10. Chemicals Neogen
A chemical company called Neogen Chemicals is trying to get involved in the value chain for EV batteries. The expanding market for EV battery raw materials is anticipated to be advantageous to the organisation.
In summary, the demand for EV batteries is rising quickly along with the EV sector. This trend is predicted to be advantageous for chemical suppliers of raw materials for electric vehicle batteries. In 2024, Himadri Specialty Chemicals, Albemarle, Panasonic, QuantumScape, Microvast, FREYR Battery, Solid Power, Aether Industries, Ami Organics, and Neogen Chemicals are among the top 10 chemical stocks that stand to gain from the expanding EV battery supply chain. Those who wish to profit from the increasing market for EV batteries might want to think about putting money into these businesses.
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