Cathode Materials 2018 Global Industry Size, Share, Growth, Trends, 10 Company Profiles and 2023 Future Market Analysis

Global Cathode Materials Market: Information by Materials (Lithium Nickel Manganese Cobalt, Lithium Nickel Cobalt Aluminum, Lithium Cobalt Oxide), End User (Power Tools, Energy Storage System, Consumer Electronics Products), Region—Forecast till 2023

Competitive Analysis:

Some of the key players in the global cathode materials are Umicore (Belgium), 3M (US), Mitsubishi Chemical Holdings (Japan), POSCO (South Korea), Johnson Matthey (UK), Hitachi Chemical Co., Ltd. (Japan), Kureha Corporation (Japan), Sumitomo Corporation (Japan), Todakogyo Corp (Japan), and Mitsui Mining & Smelting (Japan). NEI Corporation (US), Targray Technology International Inc. (Canada).

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The use of LCO is increasing in portable devices, such as cell phones, tablets, laptops, and cameras, owing to its superior property, such as high energy density. Thus, the increasing spending on consumer electronics, in both developed and developing countries, is expected to drive the demand for cathode materials during the forecast period. The lithium nickel manganese cobalt oxide (NMC) segment accounted for the second largest market share globally,. NMC has a higher specific power and long-life, due to which it is used in power tools, e-bikes, and electric vehicles. NMC batteries have a high cycling rate, and with combined high capacity and high power, NMC is ideally suitable for use in new generation electric vehicles. Moreover, it has the lowest self-heating rate among the different types of lithium-ion batteries.

Based on enduser, the market has been segmented into power tools, automotive, medical equipment, and consumer electronics products. The consumer electronic product segment accounted for the largest market share in 2017, owing to the growing demand for home electronics, gaming, , and outdoor electronics. The demand for automotive is rising with the increasing production of electric vehicles due to stringent government regulations to reduce PM2.5 and CO2 emissions.

Market Segmentation

The global cathode materials market has been segmented by materials, end user, and region.

On the basis of materials, the market has been segmented into lithium nickel manganese cobalt (Li-NMC), lithium nickel cobalt aluminum (Li-NCA), lithium cobalt oxide (LCO), lithium manganese oxide (LMO), and lithium iron phosphate (LFP). The lithium cobalt oxide segment accounted for the largest share of the cathode materials market in 2017, and is expected to grow at a considerable rate during the review period. In LCO, the cathode material contains 60% cobalt and accounts for 50% of the weight of the cathode.

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Regional Analysis:

Asia-Pacific accounted for the largest market share for global cathode materials in 2017, because of rising industrialization in emerging economies, such as India, China, and Thailand. China is expected to fuel the demand for cathode materials owing to the government support, strong manufacturing base, and growing investment by automotive giants on electric vehicle production. These factors have made the country one of the leading cathode material consumers.

North America is another prominent region for cathode materials owing to the technological advances in aerospace, automotive, and electronics industries for more compatible devices, such as UAVs, and electric-powered aircraft. Additionally, the increasing production of lightweight, electric, and hybrid vehicles in the automotive industry is likely to drive the market growth during the review period.

The European cathode materials market is expected to grow on account of owing to demand from automotive industry for highly energy-efficient and lightweight vehicles. The growing awareness about emission-free automobiles, which is expected to be key driver for the market growth in the region .

The Latin American cathode materials market is expected to grow at a significant rate during the review period due to expanding automotive industry, in Brazil and Mexico, NAFTA between US- Mexico is expecetd to project electric vehicles sales by 2030. The market in the Middle East & Africa is expected to exhibit considerable growth in the coming years with increasing investments on smart, clean, and sustainable development projects.

Intended Audience

Cathode materials manufacturers
Traders and distributors of elastomeric foam
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories

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This release was published on openPR.