Global Cathode Materials Market 2025-2035

Description

List of Tables

Cathode Materials Market Size, Share & Trends Analysis Report by Material (NMC Cathode Materials, Lithium Cathode Materials, Lithium Dioxide Cathode Materials and Other Cathode Materials), by Battery Type (Lithium-ion, Lead Acid, Nickel Cadmium, and Others), and by End-User (Automotive, Consumer Electronics, Energy & Power, Healthcare, and Industrial) Forecast Period (2025-2035)

Industry Overview

Cathode materials market was valued at $29.6 billion in 2024 and is projected to reach $135.7 billion by 2035, growing at a CAGR of 15.0% during the forecast period (2025-2035). The cathode materials market is experiencing rapid growth, driven by the accelerated adoption of electric mobility and advancements in energy storage technologies. The demand for high-performance lithium-ion batteries for vehicle electrification growth is increasing, and there are attributes of the proper cathode material function efficiency and lifetime. Manufacturers are offering resources towards material innovation to increase energy density, thermal stability, and cycling life. Evolving regulations and sustainability goals are forcing changes in the sourcing and production of these materials that are more environmentally responsible. The collaboration between battery developers and raw materials suppliers is influencing competition. Collectively, these trends are creating new opportunities across automotive, grid storage, and consumer electronics.

Market Dynamics

Rising Consumer Electronics Sales Supporting Market Development

The cathode material market is experiencing significant growth, driven by growing demand for portable electronics. The desire for high-performance smartphones, laptops, and tablets from consumers is creating increased market demand for more advanced battery technologies. Battery manufacturers are increasing in investment in the design and development of more efficient cathode materials to meet new energy density targets. Furthermore, demand for longer-lasting and faster-charging batteries is pushing researchers to provide new levels of innovation in developing new cathode materials.

Material Advancements and Supply Chain Improvements

The cathode materials market is witnessing sustained growth, driven by significant advancements in material science that enable new formulations with improved stability, higher energy density, and enhanced battery lifecycle performance. These technological developments align with the industry's increasing demand for more efficient energy storage solutions. At the same time, supply chain efficiencies, particularly in logistics, are improving accessibility and decreasing costs. Optimized sourcing and production strategies are also contributing to shorter lead times and greater supply reliability across the value chain.

Market Segmentation

Based on the material, the market is segmented into NMC cathode materials, lithium cathode materials (lithium phosphate (LFP), lithium cobalt oxide (LCO), lithium nickel manganese cobalt (NMC), lithium nickel cobalt aluminum (NCA), and lithium manganese oxide (LMO)), lithium dioxide cathode materials, and other cathode materials (lithium sulfur, sodium cobalt oxide).
Based on the battery type, the market is segmented into lithium-ion, lead acid, nickel-cadmium, and others.
Based on the end-user, the market is segmented into automotive, consumer electronics, energy & power, healthcare, and industrial.

Lithium-ion Segment to Lead the Market with the Largest Share

The accelerating shift toward electrification is driving strong demand for lithium-ion battery materials, particularly advanced cathodes. European automotive manufacturers are expanding their electric vehicle offerings, thus increasing local battery production. Additionally, major public and private investment in lithium-ion battery manufacturing facilities improves local supply capacity. An increasing EU focus on energy independence, reducing dependency on imported fossil fuels, encourages battery design advancements. Notable progress is being made in lithium-ion battery chemistry, with improvements in performance, safety, and cost-effectiveness.

Automotive: A Key Segment in Market Growth

The demand for cathode materials is rising steadily, driven primarily by the automotive sector, particularly the rapid expansion of electric vehicle (EV) manufacturing. As automakers shift toward electrified fleets globally, there is an increasing need for high-performance, energy-dense cathode materials. This trend has led to significant investment in the production and development of advanced battery components. For instance, Umicore, a leading materials innovation company, specializes in high-performance cathode materials tailored for lithium-ion batteries used in vehicles. The company partners with several global EV manufacturers and battery producers to deliver customized solutions that meet stringent requirements for efficiency, safety, and sustainability.

Regional Outlook

The global cathode materials market is further divided by geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Growing Demand for Smart Building Automation Systems in Europe

In Europe, the cathode materials market is expanding in alignment with the region's push toward clean energy and electrification. The rapid growth of the EV sector presents vast opportunities, reinforced by strict carbon emission regulations and a sustained demand for advanced battery materials. As a key pillar of the European Green Deal, substantial investments in local gigafactories are helping decentralize and localize battery supply chains. The region is also intensifying R&D efforts to develop cost-effective, cobalt-free cathode chemistries. Collaboration between OEMs and battery manufacturers is enhancing supply chain flexibility and resilience. This reflects Europe's strong commitment to a circular economy model, promoting battery recycling and the recovery of raw materials to ensure long-term sustainability.

Asia-Pacific Region Dominates the Market with Major Share

The Asia-Pacific market for cathode materials is encountering strong improvement, primarily driven by the region's dominance in lithium-ion battery manufacturing. China, South Korea, and Japan serve as key center points for battery generation, providing both residential and global demand. The increase in EV options in these countries is making progress, driving the need for high-performance cathode materials. Infrastructural investment and positive government strategies are stimulating market growth. A strong consumer electronics sector contributes to consistent demand for small high-capacity batteries. Innovative headways in cathode chemistry have empowered strides in energy density and cost-efficiency. The region benefits from access to raw material assets and refined supply chains.

Market Players Outlook

The major companies operating in the global cathode materials market include BASF SE, Johnson Matthey PLC, LG Chem Ltd., Sumitomo Metal Mining Co., Ltd., Umicore, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Developments

In June 2024, Metso launched pCAM plant - an intelligent solution for optimized precursor cathode dynamic fabric generation for lithium-ion batteries. Centered on an energy-efficient pCAM reactor, PSI 1000 molecule estimate analyzer, and pCAM handle control, Metso's pCAM plant coordinates progressed innovation and decades of know-how to guarantee an energy-efficient and feasible generation prepare. For dynamic cathode antecedent fabricating, Metso's advertising ranges from optimized crude materials determination to planning and delivery of the pCAM plant and related services.
In February 2023, Stratus Materials Inc., a developer and manufacturer of next-generation cathode active materials for lithium-ion batteries, came out of stealth. The company, already working as 33 Tech Inc., was established in early 2022 to commercialize a set of profoundly promising, manganese-rich, cobalt-free cathode developments by a group driven by Dr. Jay Whitacre. For a long time, the lithium-ion battery industry has been looking for the execution and fetched preferences of a high-manganese cathode chemistry; these cathodes have confronted persistent challenges with stability and cycling.

The Report Covers:

Market value data analysis of 2024 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global cathode materials market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028791

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Cathode Materials Market Sales Analysis - Material | Battery Type | End-User | ($ Million)
Cathode Materials Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Cathode Materials Industry Trends
- 2.2.2. Market Recommendations
2.3. Porter's Five Forces Analysis for the Cathode Materials Market
- 2.3.1. Competitive Rivalry
- 2.3.2. Threat of New Entrants
- 2.3.3. Bargaining Power of Suppliers
- 2.3.4. Bargaining Power of Buyers
- 2.3.5. Threat of Substitutes

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For the Global Cathode Materials Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For the Global Cathode Materials Market: Impact Analysis
3.3. Market Opportunities
- 3.3.1. Opportunities For the Global Cathode Materials Market: Impact Analysis

4. Competitive Landscape

4.1. Competitive Dashboard - Cathode Materials Market Revenue and Share by Manufacturers
Cathode Materials Product Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. BASF SE
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis (Subject to Data Availability)
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Johnson Matthey PLC
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis (Subject to Data Availability)
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. LG Chem Ltd.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis (Subject to Data Availability)
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. Sumitomo Metal Mining Co., Ltd.
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Portfolio
  - 4.2.4.3. Financial Analysis (Subject to Data Availability)
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
- 4.2.5. Umicore
  - 4.2.5.1. Overview
  - 4.2.5.2. Product Portfolio
  - 4.2.5.3. Financial Analysis (Subject to Data Availability)
  - 4.2.5.4. SWOT Analysis
  - 4.2.5.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Cathode Materials Market Sales Analysis by Material ($ Million)

5.1. NMC Cathode Materials
5.2. Lithium Cathode Materials
- 5.2.1. Lithium Phosphate (LFP)
- 5.2.2. Lithium Cobalt Oxide (LCO)
- 5.2.3. Lithium Nickel Manganese Cobalt (NMC)
- 5.2.4. Lithium Nickel Cobalt Aluminum (NCA)
- 5.2.5. Lithium Manganese Oxide (LMO)
5.3. Lithium Dioxide Cathode Materials
5.4. Other Cathode Materials (Lithium Sulfur, Sodium Cobalt Oxide)

6. Global Cathode Materials Market Sales Analysis by Battery Type ($ Million)

6.1. Lithium-ion
6.2. Lead Acid
6.3. Nickel Cadmium
6.4. Others

7. Global Cathode Materials Market Sales Analysis by End-User ($ Million)

7.1. Automotive
7.2. Consumer Electronics
7.3. Energy & Power
7.4. Healthcare
7.5. Industrial

8. Regional Analysis

8.1. North American Cathode Materials Market Sales Analysis - Material | Battery Type | End-User | Country ($ Million)
Macroeconomic Factors for North America
- 8.1.1. United States
- 8.1.2. Canada
8.2. European Cathode Materials Market Sales Analysis - Material | Battery Type | End-User | Country ($ Million)
Macroeconomic Factors for Europe
- 8.2.1. UK
- 8.2.2. Germany
- 8.2.3. Italy
- 8.2.4. Spain
- 8.2.5. France
- 8.2.6. Russia
- 8.2.7. Rest of Europe
8.3. Asia-Pacific Cathode Materials Market Sales Analysis - Material | Battery Type | End-User | Country ($ Million)
Macroeconomic Factors for Asia-Pacific
- 8.3.1. China
- 8.3.2. Japan
- 8.3.3. South Korea
- 8.3.4. India
- 8.3.5. Australia & New Zealand
- 8.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 8.3.7. Rest of Asia-Pacific
8.4. Rest of the World Cathode Materials Market Sales Analysis - Material | Battery Type | End-User | Country ($ Million)
Macroeconomic Factors for the Rest of the World
- 8.4.1. Latin America
- 8.4.2. Middle East and Africa

9. Company Profiles

9.1. 3M Co.
- 9.1.1. Quick Facts
- 9.1.2. Company Overview
- 9.1.3. Product Portfolio
- 9.1.4. Business Strategies
9.2. Advanced Lithium Electrochemistry Co., Ltd. (ALEEES)
- 9.2.1. Quick Facts
- 9.2.2. Company Overview
- 9.2.3. Product Portfolio
- 9.2.4. Business Strategies
9.3. Arkema Group
- 9.3.1. Quick Facts
- 9.3.2. Company Overview
- 9.3.3. Product Portfolio
- 9.3.4. Business Strategies
9.4. Asahi Kasei Corp.
- 9.4.1. Quick Facts
- 9.4.2. Company Overview
- 9.4.3. Product Portfolio
- 9.4.4. Business Strategies
9.5. BASF SE
- 9.5.1. Quick Facts
- 9.5.2. Company Overview
- 9.5.3. Product Portfolio
- 9.5.4. Business Strategies
9.6. Beijing Easpring Material Technology Co., Ltd.
- 9.6.1. Quick Facts
- 9.6.2. Company Overview
- 9.6.3. Product Portfolio
- 9.6.4. Business Strategies
9.7. Easpring Finland New Materials Oy
- 9.7.1. Quick Facts
- 9.7.2. Company Overview
- 9.7.3. Product Portfolio
- 9.7.4. Business Strategies
9.8. Guangzhou Tinci Materials Technology Co., Ltd.
- 9.8.1. Quick Facts
- 9.8.2. Company Overview
- 9.8.3. Product Portfolio
- 9.8.4. Business Strategies
9.9. Iwatani Corp.
- 9.9.1. Quick Facts
- 9.9.2. Company Overview
- 9.9.3. Product Portfolio
- 9.9.4. Business Strategies
9.10. Proterial, Ltd.
- 9.10.1. Quick Facts
- 9.10.2. Company Overview
- 9.10.3. Product Portfolio
- 9.10.4. Business Strategies
9.11. JFE Chemical Corp.
- 9.11.1. Quick Facts
- 9.11.2. Company Overview
- 9.11.3. Product Portfolio
- 9.11.4. Business Strategies
9.12. Johnson Matthey PLC
- 9.12.1. Quick Facts
- 9.12.2. Company Overview
- 9.12.3. Product Portfolio
- 9.12.4. Business Strategies
9.13. LG Chem Ltd.
- 9.13.1. Quick Facts
- 9.13.2. Company Overview
- 9.13.3. Product Portfolio
- 9.13.4. Business Strategies
9.14. Mitsubishi Chemical Group Corp.
- 9.14.1. Quick Facts
- 9.14.2. Company Overview
- 9.14.3. Product Portfolio
- 9.14.4. Business Strategies
9.15. Nichia Corp.
- 9.15.1. Quick Facts
- 9.15.2. Company Overview
- 9.15.3. Product Portfolio
- 9.15.4. Business Strategies
9.16. Nippon Chemical Industrial Co., Ltd.
- 9.16.1. Quick Facts
- 9.16.2. Company Overview
- 9.16.3. Product Portfolio
- 9.16.4. Business Strategies
9.17. NEI Corp.
- 9.17.1. Quick Facts
- 9.17.2. Company Overview
- 9.17.3. Product Portfolio
- 9.17.4. Business Strategies
9.18. Resonac Holdings Corp. (Showa Denko K.K.)
- 9.18.1. Quick Facts
- 9.18.2. Company Overview
- 9.18.3. Product Portfolio
- 9.18.4. Business Strategies
9.19. Sumitomo Metal Mining Co., Ltd.
- 9.19.1. Quick Facts
- 9.19.2. Company Overview
- 9.19.3. Product Portfolio
- 9.19.4. Business Strategies
9.20. Targray Technology International Inc.
- 9.20.1. Quick Facts
- 9.20.2. Company Overview
- 9.20.3. Product Portfolio
- 9.20.4. Business Strategies
9.21. Toda Kogyo Corp.
- 9.21.1. Quick Facts
- 9.21.2. Company Overview
- 9.21.3. Product Portfolio
- 9.21.4. Business Strategies
9.22. Topsoe A/S
- 9.22.1. Quick Facts
- 9.22.2. Company Overview
- 9.22.3. Product Portfolio
- 9.22.4. Business Strategies
9.23. Ube Corp.
- 9.23.1. Quick Facts
- 9.23.2. Company Overview
- 9.23.3. Product Portfolio
- 9.23.4. Business Strategies
9.24. Umicore
- 9.24.1. Quick Facts
- 9.24.2. Company Overview
- 9.24.3. Product Portfolio
- 9.24.4. Business Strategies
9.25. Zhejiang Huayou Cobalt Co., Ltd.
- 9.25.1. Quick Facts
- 9.25.2. Company Overview
- 9.25.3. Product Portfolio
- 9.25.4. Business Strategies