Cathode Materials Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cathode Materials Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $29.72 billion In 2028 At A CAGR Of 8.0% :

The cathode materials market size has grown strongly in recent years. It will grow from $20.27 billion in 2023 to $21.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to consumer electronics boom, electric vehicles adoption, energy storage systems, government initiatives and subsidies, increased industrial applications.

The cathode materials market size is expected to see strong growth in the next few years. It will grow to $29.72 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to electric vehicle market expansion, energy storage growth, renewable energy transition, smart grid development, government regulations, circular economy initiatives. Major trends in the forecast period include cobalt reduction and substitution, solid-state batteries, sustainability and recycling, strategic investments in capacity expansion, integration of artificial intelligence.

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Cathode Materials Market Major Segments
The cathode materials market covered in this report is segmented -

1) By Material: Lithium Cobalt Oxide or Lithium Cobaltate, Lithium Manganese Oxide or Spinel or Lithium Manganate, Lithium Iron Phosphate or Lithium Nickel Manganese Cobalt (NMC), Lithium Nickel Cobalt Aluminum Oxide, Sulfur Cathodes, Sodium Cobalt Oxide, Other Materials
2) By Battery Type: Lead-Acid, Lithium-Ion, Other Battery Types
3) By Application: Portable Gadgets, Medical Devices (Cardiac Pacemakers, Implantable Cardiac Defibrillators (ICDs), and Others), Power Tools, Wireless Peripherals or Cordless Devices, Power Storage Systems, Other Applications

Key Driver - The Surge In Electric Vehicle Sales Fueling The Cathode Materials Market

The growing usage of batteries in electric vehicles is expected to propel the growth of the cathode materials market going forward. Electric vehicles refer to vehicles that are either partially or fully run on electricity. Cathode materials are used in Li-ion batteries in electric vehicles to generate electricity through chemical reactions. For instance, according to Power-Technology, a US-based journal which provides information on the global energy industry, there was an increase in the sale of electric vehicles by 160% in the first half of 2021, which stood at 2.6 million units. In addition, China remained the world's top EV market, with 1.1 million vehicles sold in the first half of 2021, accounting for 12% of sales. Therefore, increasing usage of electric vehicles is driving the cathode materials market growth.

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Prominent Trend - Cathode Materials Market Transformed By Cutting-Edge Technologies

Technological innovations have emerged as the key trend gaining popularity in the cathode materials market. Major companies operating in the cathode materials sector are focused on introducing new technological innovations to sustain their position in the market. For instance, in April 2022, Ascend Elements, a US-based company that produces cathode active materials, launched Hydro-to-Cathode process technology. This technology helps to transform critical elements from recycled lithium-ion batteries into new cathode materials. This is an advanced technology for producing cathode materials by using recycled batteries.

Cathode Materials Market Players
Major companies operating in the cathode materials market report are BASF SE, Hitachi Chemical Energy Technology Ltd., POSCO, Panasonic Corporation, SK Innovation Co. Ltd., Sumitomo Corporation, LG Chem Ltd., Mitsubishi Chemical Corporation, BKT Carbon, 3M Company, Showa Denko Materials Co. Ltd., Johnson Matthey plc, Asahi Kasei Corporation, Ube Industries Ltd., Mitsui Mining & Smelting Co. Ltd., Umicore SA, Thai Carbon Black Public Company Limited, Jiangxi HEIMAO Carbon Black Co. Ltd., Kureha Corporation, International CSRC Investment Holdings Co. Ltd., Advanced Lithium Electrochemistry Co. Ltd., Asahi Carbon Co. Ltd., Gravita India Limited, Tanaka Chemical Corporation, Nippon Chemical Industrial Co. Ltd., Epsilon Carbon Private Limited, AME Energy Co. Ltd., NEI Corporation, Nano One Materials Corp., SKC Solmics Co. Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cathode materials market in 2023. Asia-Pacific is expected to be the fastest-growing regions in the forecast period. The regions covered in the cathode materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cathode Materials Market Report Structure
3. Cathode Materials Market Trends And Strategies
4. Cathode Materials Market - Macro Economic Scenario
5. Cathode Materials Market Size And Growth
…..
27. Cathode Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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