Cathode Materials Market | Key players operating in the market include Umicore, POSCO, BASF, Hitachi Chemical, Sumitomo Metal Mining

According to recent market research the "Cathode Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Lithium-Ion (LFP, LCO, NMC, NCA, LMO), Lead-Acid (Lead Dioxide)), End-Use, and Region (Asia Pacific, North America, Europe, and Row) - Global Forecast to 2027", is projected to grow from USD 25.9 billion in 2022 to USD 52.6 billion by 2027, at a CAGR of 15.2% from 2022 to 2027. Growing demand for various applications such as automotive, consumer electronics, and industrial is expected to drive the global cathode materials market.

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The lead dioxide cathode materials segment is estimated to account for the largest share of the cathode materials market in 2021.

By materials type, the lead dioxide cathode materials segment is estimated to account for the largest share of the cathode materials market in 2021. In lead-acid batteries, lead dioxide is the active material used as cathode. This material type segment has accounted largest share due to the demand of lead-acid batteries in various applications. The biggest advantage of lead-acid batteries over competing technologies is cost. It is less expensive than the other battery types that are being developed for high performance vehicles.

The lead-acid segment is estimated to account for the largest share of the cathode materials market in 2021.

By battery type, the lead-acid segment accounted for the largest share of the cathode materials market in 2021. The lead-acid battery is one of the widely used battery types. These batteries find applications in automobiles, defense, communications, UPS Systems, among others. The lead-acid battery has seen numerous technological advancements over the years, which have enhanced its performance.
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The global Cathode Materials market is projected to grow from USD 25.9 billion in 2022 to USD 52.6 billion by 2027, at a CAGR of 15.2% during the forecast period. Growing demand for batteries in electric vehicles and consumer electronics and the growing usage in energy storage devices is expected to drive the market during the forecast period. Key players in the advanced lead acid battery market include Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), POSCO (South Korea), Zhejiang Huayou Cobalt (China), and Shenzhen Dynanonic Co., Ltd. (China), among others.

Substantial investments have been made in the past few years by the key players to address the growing demand for cathode materials. These players have adopted strategies such as joint ventures, expansions, agreements, partnerships, and contracts, to enhance their business revenue and market share. The expansion of production units globally is the key strategy adopted by these players to cater to the increasing demand for cathode materials.

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Umicore, a global materials technology and recycling group, provides rechargeable battery materials and hi-tech materials, including emission control and fuel cell catalysts. The company operates through three business groups: recycling, catalysis, and energy & surface technologies. The energy & surface technologies group comprises business units such as cobalt & specialty materials, rechargeable battery materials, metal deposition solutions, and electro-optic materials. In 2017, Umicore acquired NMC battery material patents from 3M. It has a strong global presence with operations in 30 countries across Europe, North America, South America, Asia Pacific, and Africa. Furthermore, the company operates three R&D centers for battery materials, along with cathode material production plants in Asia and Europe.

Another important player in the global cathode materials market is POSCO. POSCO is among the leading producers of steel in the world. The company manufactures and sells a diversified line of steel products, including cold-rolled and hot-rolled products, stainless steel products, plates, wire rods, and silicon steel sheets. The company operates through four business segments, namely, steel, trade, construction, and others. It caters to customers from manufacturing industries that consume steel, including automotive, shipbuilding, home appliance, engineering, and machinery industries. POSCO Chemical offers products and services such as battery materials, advanced chemical materials, and basic industrial materials for a wide range of applications, including electric vehicles, IT devices, electric machines, plasticizers, manufacture of benzene, toluene, xylene, and others. The company operates in Europe, Asia Pacific, the Middle East & Africa, South America, and North America.

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