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
The development of the sustainable energy sources together with 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 likely to create lucrative growth opportunities for cathode active material in the near future. Moreover, the dynamic demand in these energy storage solutions like higher durability, fast charging, and long services life is likely to fuel the demand for 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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Electric vehicle industry is anticipated to witness significant growth in the near future owing to stringent government policies along with the various added incentives/ subsides for their large scale adoption. One of the prominent factor driving the growth of the cathode active material is its high demand in electric vehicle batteries.
Apart from electric vehicles, the development of hybrid engines for marine and locomotive application is further anticipated to escalate the demand for cathode active material. Moreover, the increasing demand for consumer electronics goods (laptops, smart phone, etc.) is anticipated to positively impact the cathode active materials market. Furthermore, with modernization in the utility sector, as well as the development of the smart cities, demand for batteries and thereby cathode active material is projected to witness snow ball effect in near future.
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Asia Pacific, spear-headed by China is anticipated to hold 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 in the near future.
Additionally, higher investment of key EV manufacturer’s in China owing to availability of economy 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 a significant growth till 2028. The higher penetration of electric vehicle in Europe is further expected to propel the demand for cathode active materials in this region. Latin America and Middle East & Africa is likely to witness moderate growth in the global cathode active material market.
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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 can undergo multiple electron redox reaction per molecule. The prominent players engaged in the production of cathode active materials are as mentioned below:
The potential breakthrough via technological innovation is anticipated to shift preference towards using different cathode active materials. Moreover, government policies and intensive competition among the existing players is further expected to affect global cathode active material market during the forecast period.
The research report presents a comprehensive assessment of the Cathode Active Material 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 type, and application.
The Cathode Active Material report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, 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.
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The global cathode active material market can be segmented on the basis of cathode active material type and application. Based on cathode active material, the market can be further segmented into Lithium Cobalt Oxide (LCO), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Iron Phosphate (LFP) and Lithium Nickel Cobalt Aluminum Oxide (NCA).
Except LCO, all other cathode active materials are used in automotive lithium-ion battery. Based on application, the global cathode active materials market can be segmented into electric vehicle, electronics, power tools and energy storage systems. These energy storage systems can be further classified into grid storage, residential purpose systems, telecom towers and other applications.
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High use of cathode active materials in battery manufacturing is expected to drive the market for cathode active materials.
Growing popularity of electric vehicles and supportive government initiatives will provide rewarding business opportunities in APAC.
Use of cathode active materials is anticipated to surge in electric vehicle batteries over the coming years.
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