Press release
United States Cathode Materials Market to hit US$ 129.1 billion by 2032 | Top Companies are POSCO Future M, CATL, Easpring Material Technology Co., Ltd., Nippon Chemical Industrial Co
cathode materials market reached US$ 47.2 billion in 2024 and is expected to reach US$ 129.1 billion by 2032, growing with a CAGR of 13.4% during the forecast period 2025-2032Acdcording to DataM Intelligence Comprehensive Report has released its latest report on the "Slow Release and Controlled Release Fertilizers Market Size 2025," providing a detailed analysis of market trends, key growth drivers, competitive landscape, and regional insights. The report includes market size (value and volume), CAGR projections, and emerging opportunities that help businesses identify growth areas and build effective strategies. Backed by data-driven insights and future outlook, this study serves as a valuable resource for companies looking to stay competitive and capitalize on market potential.
United States: Recent Industry Developments
✅ October 2025: 3M and General Motors announced a partnership to develop high-energy-density cathode materials for next-generation EV batteries.
✅ September 2025: Albemarle Corporation expanded its lithium and nickel refining operations to strengthen domestic cathode supply chains.
✅ August 2025: The U.S. Department of Energy funded new R&D projects focused on cobalt-free cathode chemistries to improve sustainability and cost efficiency.
Japan: Recent Industry Developments
✅ October 2025: Panasonic Energy launched advanced NCA (nickel-cobalt-aluminum) cathode materials for solid-state battery applications.
✅ September 2025: Sumitomo Metal Mining expanded production capacity for high-nickel cathode materials catering to global EV manufacturers.
✅ August 2025: Toyota and AIST collaborated on developing manganese-rich cathodes to enhance performance and reduce reliance on critical metals.
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Latest M&A
LG Chem announced that Japan's Toyota Tsusho acquired a 25% stake in its South Korean cathode materials facility in September 2025, strengthening supply chain cooperation in EV battery materials.
Major battery materials companies are consolidating and investing heavily in precursor-free cathode material technologies to enhance performance for EVs and grid storage.
BASF delivered first cathode active materials for semi-solid-state batteries in collaboration with WELION New Energy, advancing next-gen battery tech.
Major Key Player:
BASF SE, Umicore, LG Chem Ltd., Sumitomo Metal Mining Co., Ltd., POSCO Future M, CATL, Easpring Material Technology Co., Ltd., Nippon Chemical Industrial Co., Ltd., Mitsubishi Chemical Group, and NEI Corporation.
Regional Market Share
Asia-Pacific dominates the cathode materials market with approximately 79% share in 2024, anchored by China's integrated supply chain, South Korea, and Japan's material innovations and manufacturing scale.
North America and Europe follow with shares under 15%, focusing on R&D, battery recycling, and stricter ESG compliance
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Key Segments:
By Battery Type
Lithium-ion Battery - 68%: dominates due to high energy density, longer cycle life, and widespread adoption in EVs and electronics.
Lead-acid Battery - 20%: maintains strong demand for backup power and automotive starting applications.
Nickel-based Battery - 8%: used mainly in industrial tools and hybrid vehicles, with stable but limited growth.
By Material Type
Lithium Nickel Manganese Cobalt Oxide (NMC) - 38%: leading chemistry for EVs and consumer devices owing to balanced performance and cost.
Lithium Iron Phosphate (LFP) - 32%: rapidly growing in EV and energy storage sectors due to safety and thermal stability.
Lithium Cobalt Oxide (LCO) - 18%: primarily used in smartphones and portable electronics for high energy density.
By End-User
Automotive - 48%: EV adoption drives the largest share of global battery demand.
Consumer Electronics - 28%: strong usage in smartphones, laptops, and wearables sustains major market volume.
Energy & Utilities - 14%: expanding use in grid storage systems enhances renewable integration.
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Recent Product Launches and Innovations
LG Chem showcased Precursor-Free (LPF) cathode materials and safety solutions for solid-state batteries at Interbattery 2025.
BASF advanced nickel-rich cathode materials with improved interface stability for semi-solid-state battery applications.
Stanford and SLAC researchers developed a high-voltage iron-based cathode material promising improved energy density at reduced cost
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