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PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336725

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PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336725

Global Cathode Materials Market - 2023-2030

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Market Overview

Global Cathode Materials Market reached US$ 24.3 billion in 2022 and is expected to reach US$ 74.2 billion by 2030 growing with a CAGR of 14.7% during the forecast period 2023-2030.

The major growth in the cathode material market is due to increasing demand from various sectors named aerospace, defense and automotive. In energy storage systems cathode plays a significant role as they are used in grid-level storage and residential energy storage. This energy storage system stores renewable energy which leads to ensuring a stable power supply. As energy storage system grows the demand for cathode materials also grows for these applications.

Asia-Pacific has shown the fastest growth in the cathode material market leading to contribute more than 63.3% share globally. Countries like China, Japan and India have shown tremendous growth in the production and development of cathode materials. Key players are investing in the region to accelerate regional growth.

For instance, on 17 October 2022, a new manufacturing facility develops by Bechtel. The new facility produces Lithium iron phosphate cathode and this cathode will be broadly used in electric vehicles due to its energy storage capacity. Bechtel also announces its partnership with Mitra Chem as they both are working on building innovation to the battery. As batteries are a critical component in electric vehicles.

Market Dynamics

Rising Popularity of Electric Vehicles

The increasing demand for electric vehicles significantly impacted the growth of cathode materials. Electric vehicles that include battery electric vehicles and hybrid electric vehicles increased due to an increase in the usage of cathode materials for the development of batteries. Government support and incentives are one of the primary drivers behind the growth of cathode materials.

The government implemented various policies for the adoption of cathode materials which also impacted the growth of electric vehicles. As consumers are shifting towards more sustainable transportation options that is the major factor for the growth and development of cathode materials. Due to these factors, the demand for lithium-ion batteries increases.

Cathode Materials Revolutionizing Energy Storage in Aerospace and Defense

The cathode materials have various applications in the aerospace and defense sector due to their reliable and high-energy storage solutions. Batteries use cathode materials that generate power in satellites. Due to various growth in technology satellites rely on batteries, which store energy generated by solar panels, when there is a need for high power the energy is released from these solar panels. Cathode materials have been predominantly used in the aerospace and defense sector and companies are heavily investing to overcome the material demand in the sector.

For instance, on 3 May 2023, news was released that CATL batteries will power electric airplanes. Recently auto expo was held in Shanghai in which the world largest battery maker claimed that electric aircraft has the capacity to fly 1000 kilometers on one single charge. CATL started working on this technology as industries are moving towards electrification.

Government Stringent Regulations

For production and development of cathode materials requires raw materials which are high in cost. Government stringent policies and rules lead to the downfall of the growth of the cathode material market. To protect the environment and worker government issued various restrictions as hazardous materials were used for the production of cathode materials.

For instance, on 8 February 2023, a report by the national research council of Science and Technology addresses the downfall in manganese-based high-energy cathode materials. Manganese is the main element used in spinel cathode materials. But the price of manganese raw material is double when compared to nickel-based cathodes.

COVID-19 Impact Analysis

Lockdown imposed by the government worldwide causes a disturbance in the supply chain management system. The pandemic led to increased costs of cathode materials that includes higher interest loans and returns for equity investors. COVID affects the cathode material market due to which the price of batteries increases. The economic disturbance leads to decrease investment in energy storage projects.

Due to the increase in the cost of production of cathode materials and stricter loans, the projects which are in their early stages are put on hold. Many organizations find it difficult to invest in projects under financial situations which leads to delays in projects. China which has the largest market for the production of electric vehicles that use lithium-ion batteries got affected, due to which companies which rely on China phase heavy losses.

Russia-Ukraine War Impact

Due to the Russia-Ukraine war, the supply of resources for manufacturing cathode materials was affected. Resources like critical nickel, manganese and lithium face disruptions due to geopolitical tensions. Shortage of these resources results in fluctuating prices and delays. Due to conflict government in this region imposed trade restrictions.

Lithium is one of the most demanding components of lithium-ion batteries which were used in the production of EVs. Investors step back with their investments due to geopolitical issues. The conflicts delay investment in projects that includes setting up manufacturing plants for the cathode materials market. Due to the war market phases geopolitical issues slow downs the growth and production of the cathode material market.

Segment Analysis

The global cathode materials are segmented based on material,battery and region.

Growing Demand for Lithium-Ion Cathode Materials in Electric Vehicles

Due to the rise in the growth of electric vehicles, the demand for cathode materials also increases. Electric vehicles majorly rely on lithium-ion batteries as they have better energy storage compared to traditional storage systems. EV requires fast charging infrastructure, so lithium-ion with cathode materials charges quickly and leads to reduce the time required to replenish batteries. The growing adoption of EVs in both developed and developing countries acts as a major driver for the lithium-ion cathode materials market leading it to cover more than 1/3rd globally.

Furthermore, lithium-ion batteries produce zero tailpipe emissions which lead to reduced greenhouse gas emissions and also improve the quality of air. As lithium-ion batteries have a lower impact on the environment when compared with other fossil fuels companies are contnorusly investing in adopting this material leading to improve market growth.

Geographical Penetration

Collaborative Ventures for the Production of Cathode Materials

Asia-Pacific, including China, Japan, India and South Korea witnessed major growth in the cathode materials market. China has had significant growth in the production of cathode materials which has made it contribute more than half share regionally. As the government has various rules and regulations due to which demand for cathode materials increases. Japan has various advanced technology in the automotive industry where cathode materials were used. Researchers in Japan and South Kore are working on the cathode material market and research is still going on.

For instance, on 18 April 2023, there is a collaboration between a South Korean chemical company and the Chinese company huayou cobalt for setting up a manufacturing plant for nickel, cobalt and manganese cathode materials in south korea. The factory setsup in the Saemangeum national industrial complex which has a production capacity of 50,000 tonnes of materials planned up to 2026. According to news South Korean company also plans for setting production plant for metal sulfates.

Competitive Landscape

The major global players in the market include: Umicore, Sumitomo Metal Mining Co., Ltd., POSCO, Zhejiang Huayou Cobalt, Shenzhen Dynanonic Co., Ltd. , Johnson Matthey, Targray Technology International, BASF SE, Mitsubishi Chemical Corporation, Kureha Corporation.

Why Purchase the Report?

  • To visualize the global cathode materials market segmented based on material, battery and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of cathode Materials market-level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as excel consisting of key product of all the major players.

The global cathode materials market report would provide approximately 53 tables, 50 figures and 195 Pages

Target Audience 2023

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
Product Code: MA5416

Table of Contents

1. Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

  • 3.1. Snippet By Material
  • 3.2. Snippet By Battery
  • 3.3. Snippet by Region

4. Dynamics

  • 4.1. Impacting Factors
    • 4.1.1. Drivers
      • 4.1.1.1. Rising Popularity of Electric Vehicles
      • 4.1.1.2. Rising Demand for Sustainable and High-Performance Energy Storage Solutions
    • 4.1.2. Restraints
      • 4.1.2.1. Government Stringent Regulations
      • 4.1.2.2. Cost and Health Hazards
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Industry Analysis

  • 5.1. Porter's Five Force Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Pricing Analysis
  • 5.4. Regulatory Analysis

6. COVID-19 Analysis

  • 6.1. Analysis of COVID-19
    • 6.1.1. Scenario Before COVID
    • 6.1.2. Scenario During COVID
    • 6.1.3. Scenario Post COVID
  • 6.2. Pricing Dynamics Amid COVID-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market During Pandemic
  • 6.5. Manufacturers Strategic Initiatives
  • 6.6. Conclusion

7. By Material

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 7.1.2. Market Attractiveness Index, By Material
  • 7.2. Lithium Iron Phosphate (LFP)*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
  • 7.3. Lithium Cobalt Oxide (LCO)
  • 7.4. Lithium Nickel Manganese Cobalt (NMC)
  • 7.5. Lithium Nickel Cobalt Aluminum (NCA)
  • 7.6. Lithium Manganese Oxide (LMO)
  • 7.7. Lead-Dioxide
  • 7.8. Other

8. By Battery

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
    • 8.1.2. Market Attractiveness Index, By Battery
  • 8.2. Lithium-Ion *
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
  • 8.3. Lead-Acid
  • 8.4. Other

9. By Region

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
    • 9.1.2. Market Attractiveness Index, By Region
  • 9.2. North America
    • 9.2.1. Introduction
    • 9.2.2. Key Region-Specific Dynamics
    • 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
    • 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • 9.2.5.1. U.S.
      • 9.2.5.2. Canada
      • 9.2.5.3. Mexico
  • 9.3. Europe
    • 9.3.1. Introduction
    • 9.3.2. Key Region-Specific Dynamics
    • 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
    • 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • 9.3.5.1. Germany
      • 9.3.5.2. UK
      • 9.3.5.3. France
      • 9.3.5.4. Italy
      • 9.3.5.5. Russia
      • 9.3.5.6. Rest of Europe
  • 9.4. South America
    • 9.4.1. Introduction
    • 9.4.2. Key Region-Specific Dynamics
    • 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
    • 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • 9.4.5.1. Brazil
      • 9.4.5.2. Argentina
      • 9.4.5.3. Rest of South America
  • 9.5. Asia-Pacific
    • 9.5.1. Introduction
    • 9.5.2. Key Region-Specific Dynamics
    • 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
    • 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • 9.5.5.1. China
      • 9.5.5.2. India
      • 9.5.5.3. Japan
      • 9.5.5.4. Australia
      • 9.5.5.5. Rest of Asia-Pacific
  • 9.6. Middle East and Africa
    • 9.6.1. Introduction
    • 9.6.2. Key Region-Specific Dynamics
    • 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
    • 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery

10. Competitive Landscape

  • 10.1. Competitive Scenario
  • 10.2. Market Positioning/Share Analysis
  • 10.3. Mergers and Acquisitions Analysis

11. Company Profiles

  • 11.1. Umicore *
    • 11.1.1. Company Overview
    • 11.1.2. Product Portfolio and Description
    • 11.1.3. Financial Overview
    • 11.1.4. Key Developments
  • 11.2. Sumitomo Metal Mining Co., Ltd.
  • 11.3. POSCO
  • 11.4. Zhejiang Huayou Cobalt
  • 11.5. Shenzhen Dynanonic Co., Ltd.
  • 11.6. Johnson Matthey
  • 11.7. Targray Technology International
  • 11.8. BASF SE
  • 11.9. Mitsubishi Chemical Corporation
  • 11.10. Kureha Corporation

LIST NOT EXHAUSTIVE

12. Appendix

  • 12.1. About Us and Services
  • 12.2. Contact Us
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