Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (2023)

WASHINGTON, April 11, 2023 (GLOBE NEWSWIRE) --Global Cathode Materials Marketwas valued at USD 25.5 billion in 2022 and is projected to reach a value of USD 69.9 billion by 2030 at a CAGR (Compound Annual Growth Rate) of 15.5% during the forecast period 2023-2030.

Market overview

One of the major factors fueling market revenue growth is the growing demand for electric vehicles due to their ability to deliver enhanced performance while reducing vehicle emissions. Another important aspect that boosts the growth of market sales in various nations is the development of e-mobility trends in technology and technical innovations in the automotive sector.

We forecast that Li-ion battery in Cathode Materials market sales will account for more than 58% of total sales by 2030. The adoption of electric vehicles and increasing energy storage requirements for the electric grid are the main drivers of the segment's revenue growth .

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Market Dynamics

Increasing demand in the automotive sector to support market expansion
Owing to significant expenditure on Cathode Material in automotive batteries, the automotive industry is expected to outpace all other segments. Automakers have increased their investment in electric vehicles due to rising fuel prices and falling costs of lithium-ion batteries. The use of Cathode Material is expected to increase soon due to initiatives under the Clean Energy Ministry (CEM) such as the electric car initiative and the shift in preference from fuel energy to battery energy due to CO2 emission limits.

Twice the energy density will drive the market for Li-ion battery cathode materials
The energy density of lithium-ion batteries is typically twice that of nickel-cadmium. There is potential for higher energy densities. They exhibit charge characteristics that are generally favorable and discharge behavior comparable to nickel cadmium. Thanks to the high cell voltage of 3.6 volts it is possible to design battery packs using a single cell. Today's cell phones usually run on a single battery. This has resulted in more lithium-ion batteries being used in various applications. This results in an immediate favorable effect on the Li-ion battery market of cathode materials.

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Leading players in the global cathode materials market

  • 3M (Saint Paul, USA)
  • BASF SE (Germany)
  • Hitachi Chemical Co. Ltd. (Japan)
  • Johnson Mathie (London, UK)
  • LG Chem (South Korea)
  • Mitsubishi Chemical Corporation (Chiyoda City, Ιαπωνία)
  • Mitsui Mining & Smelting Co. Ltd. (Japan)
  • POSCO (South Korea)
  • Sumitomo Metal Mining Co. Ltd. (Japan)
  • Umicore (Brussels, Germany)

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Top Trends in the Global Cathode Materials Market

  • A trend that Vantage Market Research (VMR) expects to see in the Cathodic Materials industry is the increasing use of electric vehicles and portable electronic devices that are likely to drive market growth. Cathode materials are the main components that determine variations in composition, while creating positive separators for electrochemical capacitors. The components of the cathode include cobalt, nickel and manganese in the crystal structure. This crystal structure results in some synoxide material with extra lithium. Cobalt used to be the main cathode active material. Nickel is often used to partially replace cobalt (NCM, NCA).
  • Another trend that VMR predicts will continue atCathode materials industryis the rising trend of lead acid. The market is growing due to increasing government investment in the automotive industry and widespread use of lead-acid batteries in security, battery backup, fire alarms, railway recovery systems, and solar energy. The ability of lead-acid batteries to produce recyclable and renewable energy while reducing carbon dioxide emissions is another factor boosting the market.

Top reference findings

  • On the basis of material, the lead dioxide category controls the majority of the revenue of the Cathode Materials market. The main industrial application of lead dioxide is as an oxidizer. It is most commonly used in lead acid batteries to oxidize the lead, producing energy. Lead (IV) oxide acts as the cathode in lead acid batteries.
  • On the basis of battery, the Li-ion battery category controls the majority of the Cathode Materials market revenue. Lithium-ion battery parts are being replaced with more affordable, safe and environmentally friendly alternatives. Integrating renewable energy sources to generate electricity while reducing dependence on fossil fuels can be supported by long-term storage technologies such as flow batteries. Companies in the industry are focusing on developing partnerships and spending money on leading battery technologies.
  • On the basis of Application, the majority of the Cathode Material market revenue is controlled by the automotive segment due to the increasing use of Cathode Material in commercial vehicle batteries. As the cost of rechargeable batteries has fallen and demand for fuel has increased, automakers have increased their investment in electric vehicles. Government programs to reduce carbon footprints have also increased the amount of Cathode Material used in the automotive sector.

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Recent developments in the global cathode materials market

  • In August 2022,General Motors, a global automotive leader with headquarters in Michigan and operations around the world, announced a strategic partnership for CAM with Posca Chemical.
  • In December 2022,the European Investment Bank (EIB) said it would lend $39.04 million to Kieswetter & Abell, an all-German division of Pure Battery Technologies in Australia.

Automotive category, from the end-user segment to generate more than half of the segment's revenue for the cathode materials market
For better understanding, on the basis of End User, the Cathode Materials market is segmented into Automotive, Consumer Electronics, Industrial and Other End Users.

The automotive market was the largest on the basis of application and is expected to hold the top position during the forecast period. The main trend seen in the automotive market is the use of NMC devices in electric cars for better performance. This is mainly because the prices of NMC batteries have dropped dramatically over the past several years. Also, there is a growing need for devices with higher energy capacity that can power a wider variety of vehicles. Manufacturing and demand for automotive cathode materials are expanding due to the growing popularity of electric vehicles.

On the other hand, the consumer electronics category is expected to grow significantly. These unique properties have made aluminum rechargeable batteries the preferred energy source for the consumer electronics sector, with billions of units produced annually. Governments around the world are also promoting digitization and the use of many mobile devices. Lithium-ion batteries have become the standard battery technology for consumer electronic gadgets due to their beneficial properties and anticipated developments. Contradictory developments—increased competition and a general decline in the prices of manufactured goods—result in moderate growth compared to historical trends. The industry is still expected to grow faster than the previous five-year average due to expected global consumer spending and accelerating per capita income.

The Asia Pacific region in the cathode material market will generate nearly half of the global revenue
The Asia Pacific region is expected to do so in the coming years. The need for Cathode Materials is expected to increase as batteries are increasingly used in various sectors such as automotive, consumer technology, power tools, and energy storage. The increasing demand for electric vehicles in countries such as China is also expected to increase the consumption of Cathode Material. The market is expected to grow due to expanding energy demand, high demand for battery power generation, and increasing battery consumption in countries such as China, India, South Korea, Japan, and Vietnam.

The North American region is expected to grow the fastest in the Cathode Materials market. The major drivers of market expansion are the growing middle class population changing lifestyle choices, increasing demand for electric vehicles, and accelerating technological development. growing trend towards smart electronic devices. In addition, the reduced cost of electric vehicles results from more initiatives and subsidies.

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Browse market data in tables and figures spread over 146 pages and a detailed TOC inCathode materialsMarket Forecast Report (2023-2030).

Global Cathode Materials Market Segmentation

By Material

  • Li-ion cathode materials
  • Lead dioxide cathode materials
  • Other cathode materials

With battery

  • Lithium Ion
  • Lead acid
  • Other batteries

With End Use

  • Car
  • Consumer electronics
  • Industrial
  • Other End Uses

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • CIS countries
    • South Africa
    • MEA balance

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Scope of the Report:

Properties ReferenceDetails
Market size in 202225.5 million USD
Revenue forecast to 2030USD 69.9 million
CAGR15.5% from 2023 to 2030
Base year2022
Forecast year2023 to 2030
Key players3M, BASF SE, Hitachi Chemical Co. Ltd., Johnson Matthey, LG Chem, Mitsubishi Chemical Corporation, Mitsui Mining & Smelting Co. Ltd., POSCO, Sumitomo Metal Mining Co. Ltd., Umicore
Customization optionsCustom purchase options are available to meet any research needs. Explore custom purchase options

The key questions answered in the Cathode Materials Market Report are:

  • What is the current size and growth rate of the Cathode Materials market?
  • What are the major trends and factors influencing market growth?
  • What are the different types of cathode materials available in the market?
  • What are the main applications of cathode materials in various industries?
  • What are the main challenges faced by market players operating in this industry?
  • Who are the key players in the cathode material market and what is their market share?
  • What is the competitive landscape of the market and what strategies are being adopted by players to remain competitive?
  • Which are the key regions/countries contributing to the growth of the market?
  • What are the future market growth prospects and what strategies should companies adopt to take advantage of the emerging opportunities?

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About Vantage market research:

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Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (1)Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (2)

Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (3)Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (4)

Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (5)Cathode Materials Market Size and Share to Exceed $69.9 Billion by 2030 | Vantage market research (6)

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