Cathode Materials Market Demand And Growth Analysis 2022-28

According to Precision Business Insights (PBI), latest report, the global cathode materials market size was valued at USD 15.8 billion in 2021 and is expected to grow at a CAGR of 6.4% during the forecast period 2022-2028. The primary growth factor for the worldwide cathode materials market over the past few years has been the increase in demand for electric vehicles in various areas of the world. The demand for the product is anticipated to be driven by the growing use of portable, rechargeable batteries in consumer electronics.

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Lead-acid to Dominate the Cathode Materials Market:
Based on battery type, the global cathode materials market is segmented into Lead-acid and Lithium-ion. The lead-acid segment accounted for a significant revenue share. This is due to the increasing use of lead-acid batteries in emergency lighting, backup power, railway backup systems, renewable energy systems, and security systems. Governments are increasing their spending on the auto industry. The most prevalent battery used in automobiles is Starting Lighting and Ignition (SLI), while the second most prevalent used battery is lead acid.

Asia-Pacific Cathode Materials Market:
Asia-Pacific leads the Cathode Materials Market growth due to a rise in the region's usage of cathode materials brought on by the high demand in the renewable energy industry. Despite not having many sources of battery metal, China tops the list, in large part because it has control over 80% of the world's raw material refining capacity. Graphite, the main component of Li-ion batteries' anodes, is also produced in the biggest quantities anywhere in the world in China.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Cathode Materials Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. On July 16, Easpring signed a strategic cooperation agreement for 2022-2025 with QingTao (Kunshan) Energy Development. Both parties will intensify their collaborations on the creation of technologies and goods for the market for global NEV power batteries under the terms of this extensive, multi-level agreement, particularly those pertaining to cathode materials for all-solid-state and semi-solid-state batteries. Along with establishing production capacity globally, they will work together to raise money.

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The cathode materials market is segmented based on battery type, by material, by application, geography
Based On the Battery Type:
• Lead Acid
• Lithium-ion

Based On Material:
• Lead Dioxide
• Lithium Manganese Oxide
• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Others

Based On Application:
• Automotive
• Consumer Electronics

Based on the region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players in the cathode materials market report are BASF SE, Mitsubishi Chemical Corporation, 3M, Umicore, POSCO, Johnson Matthey, Hitachi Chemical Co., Ltd, Mitsui Mining & Smelting Co., Ltd, Kureha Corporation and Sumitomo Metal Mining Co. Ltd.

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