New York, NY -- (SBWIRE) -- 11/26/2020 -- The global cathode materials market size is forecast to reach USD 28.28 Billion by 2027, growing from USD 17.41 billion in 2019 according to a new report by Reports and Data. The market is expected to witness a substantial a CAGR of 6.3% over the forecast period. Cathode materials are vital components in any general battery which is widely used in a number of application areas including consumer electronics, aerospace, automotive, and power tools among other. Owing to the evolving trends witnessed in the electronics industry, along with growing laptop & cell phones market, the critical application of cathode materials is forging new growth opportunities in the smart devices sector.

Cathode materials include a variety of products, such as lithium cobalt oxide, lithium iron phosphate, lithium manganese oxide, lithium nickel manganese cobalt oxide, lithium nickel cobalt aluminum oxide, lead dioxide, oxyhydroxide, sodium iron phosphate, and graphite cathode.

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Cathode Materials Market: Key players
Umicore
3M
Mitsubishi Chemical Holdings
POSCO
Johnson Matthey
Hitachi Chemical
Kureha
Sumitomo
Toda Kogyo
Mitsui Mining & Smelting

Cathode materials are used as voltage and energy-limiting electrodes in batteries. Increasing demand for batteries in electric vehicles and consumer electronic products is poised to spur industry growth. The market is also anticipated to benefit from increased use of rechargeable and lightweight batteries in smartphones and laptops. Rapid development in commercial vehicles, passenger cars, and motorcycles industry is further augmenting the demand for cathode materials in batteries. Apart from that, the wide spread adoption of energy storage applications will increase utilization of cathode materials over the forecast period.

Cathode Materials Market Dynamics:

The increasing application of lithium-ion batteries is one of the factors that have propelled the growth of the cathode materials market. The lithium-ion battery industry is among the fastest-growing businesses across the world and lithium-ion battery is amongst the most exported items in the world. The developing economies are substantially investing in the lithium-ion battery and cathode materials markets.

Demand for uninterrupted electric supply and industrial operations in spite of power outages is bolstering the cathode materials market. Industrial sectors including chemical, manufacturing, oil & gas, and healthcare are creating this demand. Lithium-ion batteries are widely used in developing energy storage solutions that cater to the demand for uninterrupted power supply.

Besides this, the automotive industry is also growing rapidly and held a market share of 26.6% in the year 2019. The interest for batteries is expanding in the automotive industry due to the growing interest in electric vehicles. The market for cathode materials share is influenced by the rising demand for battery electric vehicles in order to minimize carbon dioxide emissions. Strict government regulations against environmental pollution and the increasing price of fossil fuels are passively driving the market growth for cathode materials.

Surging demand for energy conservation and ongoing transition from conventional to alternative sources of power are expected to augment adoption of advanced energy storage systems (ESS). Expanding smart grid installation and shifting preference for renewable energy are also projected to stimulate demand for these systems. R&D that is enhancing the efficiency of cathode materials, such as use of lithium, nickel and sodium, for ESS, is expected to offer growth opportunities for cathode material manufacturers over the long term.

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Impact of COVID-19 on Cathode Materials Market:

The worldwide pandemic that has been caused by the advent of coronavirus has brought various industries to a temporary halt. This has caused massive economic distress in almost all sectors particularly due to the breakdown of supply chains and drop in demand. Cathode active materials market, however, is not expected to suffer as badly as many others. Trends recorded during the global lockdown showed that though the auto sector will perform poorly, sustaining heavy losses, the demand for electric vehicles is actually anticipated to increase post-pandemic. Stay at home orders has also acted as a driving factor for the consumer electronics sector which will in turn drive revenue share of cathode materials market. Conservation and storage of energy has been an overriding concern in the present digital world and these demands will keep sustaining the growth of cathode materials market in spite of a global economic slowdown caused by the current pandemic.

Cathode Materials Market: Segmentation

For the purpose of this report, Reports and Data has segmented into the global Cathode Materials market on the basis of battery type, materials, end-use industries, and region:

Battery Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Lead-Acid
Lithium-Ion
Others

Materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Lithium Iron Phosphate
Lithium Cobalt Oxide
Lithium-Nickel Manganese Cobalt
Lead Dioxide
Others

Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Automotive
Consumer Electronics
Power Tools
Energy System Storage
Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

North America
U.S.
Europe
U.K
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cathode-materials-market

Cathode Materials Market: Regional Outlook

In regions with developed economies like as North America and Europe, large-scale installations of solar and wind power have been underway for quite some time and this has picked up pace over the recent years. Technological advancements have led to high adoption of energy storage systems, which in turn is anticipated to fuel the demand for cathode materials over the coming years.

The Asia Pacific region held the largest cathode materials market share of 58.5% in the year 2019. The region is shifting towards the adaptation of battery propelled vehicles due to strict carbon dioxide emission regulations and government subsidies. The growing population and the increasing demand for electronics appliances in the region are further driving the cathode active materials market.

Report Highlights:

Detailed overview of the market
Evolving cathode materials market dynamics
In-depth cathode materials market classification
Historical, present, and anticipated cathode materials market size and share in terms of volume and value
Recent cathode materials market trends and advances
Competitive landscape
Strategies adopted by key players and products portfolio
Segments, sub-segments, and geographic regions exhibiting growth prospects
A neutral and global perspective on cathode materials market performance