Cathode Material for Automotive Lithium-Ion Battery Market Set to Surge - Key Insights You Must Know

Cathode Material for Automotive Lithium-Ion Battery Market

The global market for Cathode Material for Automotive Lithium-Ion Battery was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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Electric vehicles are rapidly becoming a part of our daily life, and the demand for lithium ion batteries is steadily increasing. The anode materials are the main components of lithium ion batteries, so the demand for lithium ion battery anode materials is also increasing.

Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world"s automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world"s largest car exporter, exporting more than 3.5 million vehicles in 2022.

By Application
• Two-Wheeler
• Passenger Car
• Commercial Vehicle

Key Companies
NEI Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Hitachi Chemical Company Limited, Nichia Corporation, Umicore SA, Panasonic Corporation, 3M, Johnson Matthey PLC, POSCO

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