Demand for Prismatic Cell Lithium-ion Battery Cathodes to Surge, Bloating Overall Market Size 10X by 2031, States Fact.MR
Published : 17 Aug 2021 Industry: Chemical & Materials
As per Fact.MR - a market research and competitive intelligence provider, the global market for lithium-ion battery cathodes is expected to expand at a CAGR of 12% in value by 2031.
Gains in the market are likely to be driven by the undercurrents of numerous end-use industries and widening application base. Over the recent past, there has been significant strides in research & development activities on battery materials, including cathodes, anodes, electrolytes, and separators.
Significant increment in R&D investments have led lithium-ion battery towards increasing production and expanded sales, particularly among automakers and consumer electronics manufacturers.
Lithium-ion batteries have been constantly gaining traction in developing countries of Asia Pacific and the Middle East & Africa, which will lubricate the infiltration of lithium-ion battery cathodes in these markets over the coming years.
Key Takeaways from Market Study
- Market expected to expand at CAGR of 12% through 2031.
- Asia Pacific account for 44% of global market share.
- Market expanded at CAGR of 9% over past 5 years.
- Demand for lithium-ion batteries in electrical vehicles to rise over forecast period.
- Opportunities for lithium-ion battery cathode manufacturers likely to remain influenced by tightening regulatory scenario in automotive industry.
- Cylindrical lithium-ion cells account for 55% of overall revenue share.
“Increasing application of lithium-ion battery cathodes in the automotive industry to nudge sales of lithium-ion cathode cells over coming years,” says a Fact.MR analyst.
Key players manufacturing lithium-ion battery cathodes have been striving to consolidate their position by gaining reciprocal advantage from their equivalents through merger and acquisition (M&A) activities. In addition, since efficiency remains an attractive proposition for lithium-ion battery cathodes, manufacturers continue to leverage the prowess of technology to boost product lifespan.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the lithium-ion battery cathode market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of cell type ( cylindrical cell, prismatic cell and polymer cell) battery type (lithium nickel manganese cobalt oxide, lithium iron phosphate, cabalt oxide lithium-ion, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminium oxide), capacity (0-3,000 mAh, 3,000-10,000 mAh, 10,000-60,000 mAh, and 60,000 and above), voltage (low voltage, medium voltage, and high voltage), and industry (consumer electronics, automotive, aerospace, marine, medical, industrial, power, and telecommunication), across major regions of the world (North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa).
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Consultant – Chemicals and Materials