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Global NMC Cathode Powders Market Driven by Lithium-ion Battery Boom Across Automotive Sector
NMC Cathode Powders Market SizeThe global NMC Cathode Powders market was valued at US$ 1584 million in 2023 and is anticipated to reach US$ 4499 million by 2030, witnessing a CAGR of 16.1% during the forecast period 2024-2030.
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One of the most successful li-ion cathode formulas developed to date is obtained by combining nickel, manganese, and cobalt. Lithium-Nickel-Manganese-Cobalt-Oxide (LiNiMnCoO2), abbreviated as NMC, has become the go-to cathode powder to develop batteries for power tools, e-bikes and other electric powertrains. It delivers strong overall performance, excellent specific energy, and the lowest self-heating rate of all mainstream cathode powders, which makes it the preferred option for automotive batteries.
North American market for NMC Cathode Powders is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
Asia-Pacific market for NMC Cathode Powders is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
The major global manufacturers of NMC Cathode Powders include Targray, Tmax, Sumitomo, Nichia, LG Chem, L & F Co, Umicore, BASF, Gelon LIB Group, NOVONIX, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.
By Type
• NMC 811
• NMC 532
• NMC 622
By Application
• Power Battery
• Energy Storage Batte
Key Companies
Targray, Tmax, Sumitomo, Nichia, LG Chem, L & F Co, Umicore, BASF, Gelon LIB Group, NOVONIX
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