Cathode Materials Market by Battery Type (Lead-Acid, Lithium-Ion, and Others) and by Material (Lithium-Ion, Lead-Acid, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026

Global cathode materials market expected to generate around USD 26.24 billion by 2026, at a CAGR of around 6.2% between 2019 and 2026. Battery components include cathode, anode, and electrolyte. Cathode materials are widely used in lithium-ion batteries. Cathode materials are made up of manganese, nickel, and cobalt.

09-Jul-2019 | Number of pages: 110 | Report Code: ZMR-4355 | Report Format : | Status : Published

Analysis

Cathode materials are made up of manganese, nickel, and cobalt. These materials are in the form of crystals that form a multi-metal material combination to which lithium is added. While building positive electrodes for battery cells, cathode materials play a major role in determining the difference in the composition for battery cells. These batteries include various products that serve different users according to their specific requirements, such as high load capacity and/or high energy density. Battery components include cathode, anode, and electrolyte. Cathode materials are widely used in lithium-ion batteries for energy storage. All the commonly used batteries have cathode materials as a major component. Cathode materials have various applications in aerospace, automotive, electronics, and marine industries. As compared to traditional batteries, lithium batteries possess a large flow of discharge, greater energy density, and improved performance. Lithium batteries are widely used in portable electronics, electric vehicles, and implanted medical devices.

There has been growing demand for portable electronic devices and electric vehicles in the last few years. Batteries form a vital part of these devices and vehicles, which is the primary growth driver of the global cathode materials market. Moreover, the demand for plug-in hybrid vehicles, motorcycles, heavy vehicles, and electric vehicles is growing due to stringent government regulations on the emission of carbon dioxide. This is also expected to drive the cathode materials market globally. However, safety issues related to the storage and transportation of batteries containing cathode materials may hamper this market’s development in the years ahead.

The global cathode materials market is fragmented based on battery type and material. Based on battery type, the cathode materials market is divided into lead-acid, lithium-ion, and others. Lead-acid is the dominating segment of the cathode materials market, owing to its increasing use in the automotive industry due to its low cost. In addition, lead-acid batteries have a higher recycling rate, which is further expected to propel this segment’s growth. Lithium-ion, lead-acid (lead-dioxide), and others (sodium iron phosphate, oxyhydroxide, and graphite cathode) comprise the material segment of the global cathode materials market. The lithium-ion segment is further classified into lithium manganese oxide (LMO), lithium nickel cobalt aluminum oxide (NCA), lithium nickel manganese cobalt oxide (NMC), lithium cobalt oxide (LCO), and lithium iron phosphate (LFP). The lead-dioxide segment is expected to register the highest rate of growth, due to the increasing government investments in the automotive industry. Global governments are promoting electric vehicles usage due to rising pollution levels and depleting natural resources.

The Asia Pacific region is expected to hold a major market share of the global cathode materials market in the future. The region is an established hub of various end-user industries, such as electronics, automotive, and consumer electronics. The rising cathode materials demand for portable consumer electronics, automobiles, and industrial applications across the region and shifting consumer preference from fuel-driven automobiles to battery-operated vehicles are expected to drive the Asia Pacific cathode materials market. Moreover, the government is also supporting this market through new policies and subsidies, which has increased the demand for plug-in hybrid vehicles, electrified vehicles, and battery-operated electric vehicles.

Some major players of the global cathode materials market are Umicore, 3M, Mitsubishi Chemical, POSCO, Johnson Matthey, Hitachi Chemical, Kureha, Sumitomo, Toda Kogyo, and Mitsui Mining & Smelting.


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