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Global Cathode Materials Market Size, Share, Trends, Report: By Material: Li-ion Cathode Materials, Lead Dioxide Cathode Materials, Others; By Battery Type: Lithium-ion, Lead Acid, Others; By End-Use: Automotive, Consumer Electronics, Industrial, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Cathode Materials Market Outlook
The global cathode materials market size reached nearly USD 27.09 billion in 2023. The market is projected to grow at a CAGR of 12.4% between 2024 and 2032 to reach a value of around USD 77.57 billion by 2032.
Key Trends in the Market
Cathode materials refer to the types of materials that boast high percolation, conductive network, and unique structural integrity. These materials contain multi-metal oxides to which lithium is added. The characteristics of these materials depend upon the type and ratio of metals and lithium.
- The rising sales of hybrid electric and plug-in hybrid electric vehicles are driving the cathode materials market growth. Cathode materials like lithium iron phosphate (LFP) and nickel cobalt manganese (NCM) are extensively used in EV batteries. In addition, the growing research and development activities in the automotive sector to develop efficient and high-performance HEVs and PHEVs are bolstering the market growth.
- Heightened demand for consumer electronics, such as smartphones, headphones, laptops, and tablets, among others, supported by rising disposable income and expanding e-commerce sector, is one of the crucial cathode materials market trends.
- The increasing application of lead-acid and lithium-ion batteries in large-capacity storage solutions is further propelling the demand for cathode materials. Over the forecast period, the expected increase in the demand for energy storage systems in data centres and the industrial sector is likely to garner the market for cathode materials.
Market Analysis
Based on material, the cathode materials market segmentations include LI-ion cathode materials, and lead dioxide cathode materials, among others. The Li-ion cathode materials segment is further divided based on type into lithium iron phosphate, lithium cobalt oxide, lithium nickel manganese cobalt, lithium nickel cobalt aluminium, and lithium manganese oxide.
On the basis of battery type, the market is classified into lithium-ion, and lead acid, among others. By end-use, the market is categorised into automotive, consumer electronics, and industrial, among others. The major regional markets for cathode materials include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global cathode materials market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Umicore NV
- Sumitomo Metal Mining Co., Ltd
- Posco Holdings Inc
- Zhejiang Huayou Cobalt
- Shenzhen Dynanonic Co., Ltd
- LG Chem, Ltd
- Toda Kogyo Group
- L&F Co, Ltd
- Ningbo Shanshan Co., Ltd
- Nichia Corporation
- Others
Market Share by Material
Lead dioxide cathode materials account for a significant portion of the cathode materials market share. This can be attributed to the heightening demand for lead oxide batteries in various power applications. These batteries are convenient, low cost, and efficient, making them applicable in different sectors such as construction and automotive.
As per the cathode materials market analysis, the anticipated increase in the demand for lead-acid batteries in vehicles for starting, lighting, and ignition applications is likely to bolster the segment’s growth in upcoming years.
Market Share by Battery Type
Lithium-ion batteries are likely to witness a healthy growth in the coming years. The rising investments by emerging and developed economies to ramp up lithium production capacity owing to the increasing demand for lithium-ion batteries from consumer electronics and the automotive sector are driving the segment’s growth. Over the forecast period, the anticipated increase in the sale of electric vehicles is expected to garner the overall cathode materials market growth.
Competitive Landscape
Umicore NV is a multinational company which offers materials technology to various end-use sectors. It also provides innovative cathode materials used in lithium-ion batteries. The company was founded in 1989 and is headquartered in Brussels, Belgium.
Sumitomo Metal Mining Co., Ltd is a leading battery manufacturer engaged in mining and advanced materials businesses. Its history traces back to 1590, and the company is headquartered in Tokyo, Japan.
Posco Holdings Inc is a renowned steel manufacturer, founded in 1968. The product portfolio of this company includes cold-rolled, hot-rolled, and stainless-steel products, among others. It is headquartered in Pohang-Si, South Korea.
Other cathode materials market players include Zhejiang Huayou Cobalt, Shenzhen Dynanonic Co., Ltd, LG Chem, Ltd, Toda Kogyo Group, L&F Co, Ltd, Ningbo Shanshan Co., Ltd, and Nichia Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Battery Type |
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cathode Materials Market Analysis
8.1 Key Industry Highlights
8.2 Global Cathode Materials Historical Market (2018-2023)
8.3 Global Cathode Materials Market Forecast (2024-2032)
8.4 Global Cathode Materials Market by Material
8.4.1 Li-ion Cathode Materials
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Lithium Iron Phosphate
8.4.1.3.2 Lithium Cobalt Oxide
8.4.1.3.3 Lithium Nickel Manganese Cobalt
8.4.1.3.4 Lithium Nickel Cobalt Aluminium
8.4.1.3.5 Lithium Manganese Oxide
8.4.2 Lead Dioxide Cathode Materials
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Cathode Materials Market by Battery Type
8.5.1 Lithium-ion
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Lead Acid
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Cathode Materials Market by End-Use
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Consumer Electronics
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Industrial
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Cathode Materials Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Cathode Materials Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Cathode Materials Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Cathode Materials Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Cathode Materials Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Cathode Materials Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Umicore NV
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Sumitomo Metal Mining Co., Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Posco Holdings Inc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Zhejiang Huayou Cobalt
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Shenzhen Dynanonic Co., Ltd
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 LG Chem, Ltd
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Toda Kogyo Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 L&F Co, Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Ningbo Shanshan Co., Ltd
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Nichia Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cathode Materials Market: Key Industry Highlights, 2018 and 2032
2. Global Cathode Materials Historical Market: Breakup by Material (USD Billion), 2018-2023
3. Global Cathode Materials Market Forecast: Breakup by Material (USD Billion), 2024-2032
4. Global Cathode Materials Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
5. Global Cathode Materials Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
6. Global Cathode Materials Historical Market: Breakup by End-Use (USD Billion), 2018-2023
7. Global Cathode Materials Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
8. Global Cathode Materials Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Cathode Materials Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Cathode Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Cathode Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Cathode Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Cathode Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Cathode Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Cathode Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Cathode Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Cathode Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Cathode Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Cathode Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Cathode Materials Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 27.09 billion in 2023.
The market is estimated to grow at a CAGR of 12.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 77.57 billion by 2032.
The rising sales of hybrid electric and plug-in hybrid electric cars, the heightened demand for consumer electronics, such as smartphones and headphones, and the increasing application of lead-acid and lithium-ion batteries in large-capacity storage solutions are the major drivers of the market.
The key trends in the market include the growing research and development activities in the automotive sector to develop efficient and powerful HEVs and PHEVs and the rising sales of consumer gadgets.
Li-ion cathode materials, and lead dioxide cathode materials, among others, are the different materials considered in the market report.
Automotive, consumer electronics, and industrial, among others, are the major end-uses of cathode materials.
Umicore NV, Sumitomo Metal Mining Co., Ltd, Posco Holdings Inc, Zhejiang Huayou Cobalt, Shenzhen Dynanonic Co., Ltd, LG Chem, Ltd, Toda Kogyo Group, L&F Co, Ltd, Ningbo Shanshan Co., Ltd, and Nichia Corporation, among others, are the key market players.
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