Cathode Active Material Market
Cathode Active Material Market Study by Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt Oxide, and Others From 2024 to 2034
Analysis of Cathode Active Material Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Cathode Active Material Market Outlook (2024 to 2034)
According to the latest study released by Fact.MR, the global cathode active material market has been projected to rise from a size of US$ 29.85 billion in 2024 to US$ 49.55 billion by the end of 2034. Demand is evaluated to increase at a CAGR of 5.2% between 2024 and 2034.
The growing adoption of electric vehicles (EVs) is positively influencing the demand for cathode-active materials. Batteries are the main component of EVs, and cathode materials have a direct impact on battery performance and cost, which is making them an important driver of the shift toward EVs. Renewable energy sources, such as solar and wind need effective storage solutions because they are intermittent.
The growing use of CAM-dependent lithium-ion batteries in grid-scale energy storage systems is driving up the need for high-performance cathode materials. The market for cathode active material is benefiting from the measures that governments in several countries are taking initiatives for renewable energy and lower carbon footprints. Research grants, tax breaks, and subsidies are driving investments in battery materials, which is positively affecting the market.
The East Asia region is estimated to account for 27.1% of the worldwide cathode active material market share in 2024. In East Asia, China holds a leading position because of its strong supply chain and significant battery production capabilities. The production of cathode active materials is increasing in the region because of the increasing adoption of EVs as well as increasing investments in renewable energy storage.
Based on application, the automotive segment is analyzed to generate revenue worth US$ 11.95 billion in 2024 because of the quick transition to electric vehicles (EVs), which is driven by government incentives in several countries, environmental legislation, customer demand, and others. This is driving an increase in the use of cathode active material (CAM) in the automotive sector.
| Report Attributes | Details |
|---|---|
| Cathode Active Material Market Size (2024E) | US$ 29.85 Billion |
| Forecasted Market Value (2034F) | US$ 49.55 Billion |
| Global Market Growth Rate (2024 to 2034) | 5.2% CAGR |
| North America Market Value (2024E) | US$ 8.44 Billion |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 7.7 CAGR |
| Lithium Cobalt Oxide (LCO) Segment Value (2034F) | US$ 11.24 Billion |
| Solid-State Synthesis Segment Value (2034F) | US$ 19.85 Billion |
| Key Companies Profiled | BASF SE; Targray; NEI Corporation; Nichia; Umicore; Hunan Reshine New Material Co. Ltd.; Pulead Technology Industry Co.; Hunan Shanshan New Material Co. Ltd.; Advanced Lithium Electrochemistry Co. Ltd.; Toda Kogyo |
The development of sustainable energy sources together with the deployment of smart energy storage/ conservation technologies have significantly fueled the demand for batteries as an energy storage solution. Additionally, the introduction of electric vehicles is anticipated to be a prominent disruption in the automotive industry.
The increasing penetration of electric vehicles across the globe is anticipated to escalate the demand for electric vehicle batteries. This is creating lucrative growth opportunities for cathode active material shortly. Moreover, the dynamic demand for these energy storage solutions like higher durability, fast charging, and long service life is likely to fuel the demand for the use of advanced materials in these batteries.
The cathode active material is responsible for supplying ions while the battery is in charging or discharging mode. The quality of the cathode active material largely affects the overall performance of the cell/ battery. Also, the quality control steps need to be initiated at the raw material production stage. To avoid any compromise with cell quality, prominent battery cell manufacturers are developing cathode active materials in-house.
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Cathode Active Material Market - Dynamics
The electric vehicle industry is anticipated to witness significant growth shortly owing to stringent government policies along with the various added incentives/subsidies for their large-scale adoption. One of the prominent factors driving the growth of the cathode active material is its high demand for electric vehicle batteries.
Apart from electric vehicles, the development of hybrid engines for marine and locomotive applications is further anticipated to escalate the demand for cathode active material. Moreover, the increasing demand for consumer electronics goods (laptops, smartphones, and others) is anticipated to positively affect the cathode active materials market. Furthermore, with modernization in the utility sector, as well as the development of smart cities, demand for batteries and thereby cathode active material is projected to witness a snowball effect shortly.
Cathode Active Material Market - Regional Outlook
Asia Pacific, spear-headed by China is anticipated to hold the lion’s share in the global cathode active material market. The high presence of electric vehicle battery manufacturers in this region is anticipated to boost the demand for cathode active material shortly.
Additionally, higher investment of key EV manufacturers in China owing to the availability of economic labor in this region is likely to escalate the cathode active material demand during the forecast period. Moreover, demand for cathode active material in Europe and North America is further projected to witness significant growth till 2028. The higher penetration of electric vehicles in Europe is further expected to propel the demand for cathode-active materials in this region. Latin America and Middle East & Africa are likely to witness moderate growth in the global cathode active material market.
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Cathode Active Material Market - Prominent Players
The cathode active material manufacturers are focused on using organic for rechargeable batteries. These organic cathode active materials have high mass-energy density since they undergo multiple electron redox reactions per molecule. The prominent players engaged in the production of cathode active materials are as mentioned below:
- BASF SE
- Targray
- NEI Corporation
- Nichia
- Umicore
- Hunan Reshine New Material Co. Ltd.
- Pulead Technology Industry Co.
- Hunan Shanshan New Material Co. Ltd.
- Advanced Lithium Electrochemistry Co. Ltd.
- Toda Kogyo
The potential breakthrough via technological innovation is anticipated to shift preference toward using different cathode active materials. Moreover, government policies and intensive competition among the existing players are further expected to affect the global cathode active material industry during the forecast period.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The cathode active material market report provides analysis and information, according to market segments such as geographies, material types, and applications.
The Cathode Active Material Market Report Covers Exhaustive Analysis On
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
The Cathode Active Material Market Regional Analysis Includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS & Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
- Middle East & Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Cathode Active Material report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The Cathode Active Material report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Cathode Active Material report also maps the qualitative impact of various market factors on market segments and geographies.
The Cathode Active Material Market Report Highlights
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Segmentation of Cathode Active Material Market Research
-
By Material Type :
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LFP)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Manganese Cobalt Oxide (NMC)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Others
-
By Manufacturing Process :
- Solid-State Synthesis
- Co-Precipitation
- Others
-
By Application :
- Consumer Electronics
- Automotive
- Energy Storage Systems
- Industrial
- Aerospace & Defense
- Others
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material Type 6.2. Battery Type 6.3. Application 6.4. Manufacturing Process 7. Global Market Analysis and Forecast, By Material Type 7.1. Lithium Cobalt Oxide (LCO) 7.2. Lithium Iron Phosphate (LFP) 7.3. Lithium Manganese Oxide (LMO) 7.4. Lithium Nickel Manganese Cobalt Oxide (NMC) 7.5. Lithium Nickel Cobalt Aluminum Oxide (NCA) 7.6. Others 8. Global Market Analysis and Forecast, By Battery Type 8.1. Lithium-Ion Batteries 8.2. Lead-Acid Batteries 8.3. Nickel-Cadmium Batteries 8.4. Solid-State Batteries 8.5. Others 9. Global Market Analysis and Forecast, By Application 9.1. Consumer Electronics 9.2. Automotive 9.3. Energy Storage Systems 9.4. Industrial 9.5. Aerospace & Defense 9.6. Others 10. Global Market Analysis and Forecast, By Manufacturing Process 10.1. Solid-State Synthesis 10.2. Co-Precipitation 10.3. Others 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. Asia Pacific 11.6. East Asia 11.7. MEA 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. East Asia Sales Analysis and Forecast, by Key Segments and Countries 18. MEA Sales Analysis and Forecast, by Key Segments and Countries 19. Region Sales Analysis and Forecast, by Key Segments and Countries 20. Sales Forecast by Material Type, Battery Type, Application, and Manufacturing Process for 30 Countries 21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 22. Company Profile 22.1. BASF SE 22.2. Targray 22.3. NEI Corporation 22.4. Nichia 22.5. Umicore 22.6. Hunan Reshine New Material Co. Ltd. 22.7. Pulead Technology Industry Co. 22.8. Hunan Shanshan New Material Co. Ltd. 22.9. Advanced Lithium Electrochemistry Co. Ltd. 22.10. Toda Kogyo
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Material Type
Table 3: Global Market US$ Mn Forecast by Battery Type
Table 4: Global Market US$ Mn Forecast by Application
Table 5: Global Market US$ Mn Forecast by Manufacturing Process
Table 6: North America Market US$ Mn Forecast by Country
Table 7: North America Market US$ Mn Forecast by Material Type
Table 8: North America Market US$ Mn Forecast by Battery Type
Table 9: North America Market US$ Mn Forecast by Application
Table 10: North America Market US$ Mn Forecast by Manufacturing Process
Table 11: Latin America Market US$ Mn Forecast by Country
Table 12: Latin America Market US$ Mn Forecast by Material Type
Table 13: Latin America Market US$ Mn Forecast by Battery Type
Table 14: Latin America Market US$ Mn Forecast by Application
Table 15: Latin America Market US$ Mn Forecast by Manufacturing Process
Table 16: Western Europe Market US$ Mn Forecast by Country
Table 17: Western Europe Market US$ Mn Forecast by Material Type
Table 18: Western Europe Market US$ Mn Forecast by Battery Type
Table 19: Western Europe Market US$ Mn Forecast by Application
Table 20: Western Europe Market US$ Mn Forecast by Manufacturing Process
Table 21: Eastern Europe Market US$ Mn Forecast by Country
Table 22: Eastern Europe Market US$ Mn Forecast by Material Type
Table 23: Eastern Europe Market US$ Mn Forecast by Battery Type
Table 24: Eastern Europe Market US$ Mn Forecast by Application
Table 25: Eastern Europe Market US$ Mn Forecast by Manufacturing Process
Table 26: Asia Pacific Market US$ Mn Forecast by Country
Table 27: Asia Pacific Market US$ Mn Forecast by Material Type
Table 28: Asia Pacific Market US$ Mn Forecast by Battery Type
Table 29: Asia Pacific Market US$ Mn Forecast by Application
Table 30: Asia Pacific Market US$ Mn Forecast by Manufacturing Process
Table 31: East Asia Market US$ Mn Forecast by Country
Table 32: East Asia Market US$ Mn Forecast by Material Type
Table 33: East Asia Market US$ Mn Forecast by Battery Type
Table 34: East Asia Market US$ Mn Forecast by Application
Table 35: East Asia Market US$ Mn Forecast by Manufacturing Process
Table 36: MEA Market US$ Mn Forecast by Country
Table 37: MEA Market US$ Mn Forecast by Material Type
Table 38: MEA Market US$ Mn Forecast by Battery Type
Table 39: MEA Market US$ Mn Forecast by Application
Table 40: MEA Market US$ Mn Forecast by Manufacturing Process
Table 41: Region Market US$ Mn Forecast by Country
Table 42: Region Market US$ Mn Forecast by Material Type
Table 43: Region Market US$ Mn Forecast by Battery Type
Table 44: Region Market US$ Mn Forecast by Application
Table 45: Region Market US$ Mn Forecast by Manufacturing Process
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 5: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 9: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 17: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 18: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 22: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 23: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 24: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 26: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 27: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 28: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 29: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 30: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 31: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 32: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 33: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 34: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 35: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 36: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 37: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 38: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 39: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 40: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 41: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Material Type
Figure 42: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Battery Type
Figure 43: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 44: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Manufacturing Process
Figure 45: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
Will rising demand for batteries benefit cathode active material suppliers?
The high use of cathode active materials in battery manufacturing is stimulating demand for cathode active materials.
Why are cathode active material manufacturers investing in Asia Pacific?
The growing popularity of electric vehicles and supportive government initiatives will provide rewarding business opportunities.
Where will the use of cathode active material increase more?
The use of cathode active materials is surging in electric vehicle batteries over the coming years.
Cathode Active Material Market