United States Cathode Materials Market 2025: Industry Developments, Future Growth, Share & Industry Insights | Umicore, LG Chem Ltd, CATL, Easpring Material Technology, Nippon Chemical

Global 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 2025-2032.

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Industry Latest News 2025:

✅ 2025-11-14: LG Chem wins a US cathode-materials supply deal worth about $2.6 billion to ship cathodes to a U.S. client.

✅ 2025-10-08: Toyota and Sumitomo Metal Mining announce major progress on advanced cathode materials for all-solid-state batteries and plan mass production of the cathodes starting in fiscal 2028 (for Toyota supply).

✅ 2025-11-17: SMM (Sumitomo Metal Mining briefing) reports testing for mass production of new high-Ni NMC cathode materials to begin in H2 FY2025, preparing for sales / scale-up in FY2026.

✅ 2025-03-05: LG Chem showcases its new LG Precursor-Free (LPF) cathode materials at InterBattery 2025 first Korean company to announce precursor-free cathode tech and publicize plans toward mass production.

✅ 2025-09-08: Toyota Tsusho acquires a 25% stake in LG Chem's South Korea cathode-materials plant strategic ownership realignment affecting cross-border supply and partnerships.

✅ 2025-08-29: BASF announces delivery of its first ultra-high-nickel NCM cathode-active material (composite-coated) from its R&D / pilot work toward scaled supply.

Market Geographical Share:

North America holds a major share of the cathode materials market, driven by strong electric vehicle (EV) adoption, rapid expansion of battery manufacturing plants, and government policies supporting clean energy transition. The U.S. and Canada are witnessing accelerated investments in lithium-ion gigafactories, strengthening the regional demand for NMC, NCA, and LFP cathode chemistries.

Europe represents one of the fastest-growing markets, supported by strict emission standards, aggressive EV rollout targets, and large-scale battery production initiatives across Germany, France, Sweden, and the U.K. The region's focus on reducing dependency on imported battery raw materials is boosting local production of nickel-rich and cobalt-reduced cathode materials.

Asia-Pacific dominates global cathode materials demand due to the presence of leading battery manufacturers in China, Japan, and South Korea. China alone contributes a significant share owing to massive EV production, robust supply chain networks for lithium, nickel, and manganese, and government-backed battery innovation programs. APAC continues to lead in LFP, NMC, and high-energy-density chemistries.

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Key Market Drivers:

✅ Surge in Electric Vehicle Production
The global shift toward low-emission mobility is driving unprecedented demand for lithium-ion batteries, directly boosting the requirement for high-performance cathode materials such as NMC, NCA, and LFP.

✅ Energy Storage System (ESS) Expansion
Grid stabilization initiatives, renewable integration, and backup power needs are fueling demand for stationary energy storage solutions, increasing consumption of long-cycle life cathode chemistries.

✅ Advancements in Battery Chemistry
Ongoing research in high-nickel cathodes, cobalt-free alternatives, and solid-state battery materials is pushing manufacturers to upgrade or expand production facilities, strengthening market growth.

✅ Government Policies & Incentives
Subsidies for EVs, tax incentives for battery manufacturing, and national energy transition policies across major economies are accelerating investments in cathode material plants.

✅ Growing Consumer Electronics Demand
The expanding use of lithium-ion batteries in smartphones, laptops, wearables, and high-performance electronics continues to support steady demand for compact, energy-dense cathode materials.

✅ Strengthening Raw Material Supply Chains

Strategic collaborations, mining expansions, and long-term supply agreements for lithium, nickel, and manganese are reducing volatility and supporting stable cathode material production.

Segments Covered in the Cathode Materials Market:

By Battery Type (Lithium-ion Battery, Lead-acid Battery, Nickel-based Battery, Others)

By Material Type (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Others)

By End-User (Automotive, Consumer Electronics, Industrial, Energy & Utilities, Others)

Regional Analysis for Cathode Materials Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Major Key Players: 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.

✅ Umicore - European leader focused on higher-value NMC cathode chemistries and recycling; Battery Materials revenue ~€212M H1 2025 with Group FY2024 revenue €3.5B (battery group remains strategic despite near-term cyclical weakness).

✅ LG Chem (LG Energy/LGES affiliate) - Large integrated cathode supplier with major long-term contracts (example: a multi-billion-dollar cathode supply deal announced in 2025) and planned U.S. cathode capacity to serve OEMs - positioning LG as a top non-Chinese CAM supplier.

✅ Sumitomo Metal Mining (SMM) - Japan's major cathode player scaling NMC capacity aggressively (roadmap: ~60 kt → 84 kt → 120 kt → 180 kt pa across FY2024-2030 targets) to protect Japan's upstream supply and serve automakers.

✅ POSCO Future M - South Korea's vertically integrated entrant expanding NCA/NMC output (phased cathode capacity expansions, multiple 10s of kt/year projects and supply deals with U.S. cell makers) to create a China-independent cathode supply chain.

✅ CATL - China's dominant player (also a top EV-battery cell maker) - controls a very large share of global battery output and is building large cathode capacity (projects citing tens of thousands of tonnes of cathode/year), making it the single largest source of CAM by volume.

✅ Easpring Material Technology - China-based cathode supplier expanding into Europe via the Kotka (Finland) CAM project (first-phase capacity ~60,000 tpa CAM), aimed at supplying European cell plants and reducing regional CAM shortfalls.

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