The cathode materials market is projected to grow from USD 25.9 billion in 2022 to USD 52.6 billion by 2027, at a CAGR of 15.2% from 2022 to 2027
The rise in demand for EVs and growing demand for consumer electronics are driving the market. The lithium-ion battery type is projected to grow at the highest CAGR during the forecast period, in terms of value.
New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cathode Materials Market by Battery, End-Use And Region - Global Forecast to 2027" - https://www.reportlinker.com/p05404722/?utm_source=GNW
The rise in demand for EVs and growing demand for consumer electronics are driving the market.
The lithium-ion battery type is projected to grow at the highest CAGR during the forecast period, in terms of value.
Based on type, lithium-ion battery is projected to grow at the highest CAGR during 2022 to 2027, by value. Since power requirement for any application is a major concern for end users, OEMs are increasingly moving toward adopting Li-ion batteries owing to their high capacity and lightweight properties.
The lithium-ion cathode material is projected to grow at the highest CAGR during the forecast period, in terms of value.
Based on material type, the lithium-ion cathode material is projected to grow at the highest CAGR from 2022 to 2027, by value. Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Nickel Manganese Cobalt Oxide (NMC) /
(NCM), Lithium Nickel Cobalt Aluminum Oxide (NCA), among others, are the majorly used cathode materials in the Li-ion battery industry. These materials have high storage capability, high energy density, long cycle & calendar life, ease of processing, and safety. Hence, such factors will fuel the demand for lithium-ion cathode materials.
The automotive segment is projected to account for the largest market share by end-use during the forecast period, in terms of value.
Based on end-use, the automotive segment is projected to account for the largest market share by end-use during the forecast period, in terms of value.Automotive lead-acid batteries have undergone major developments to accommodate the increased electrical requirements of modern automobiles and the increasing need for efficiency.
Furthermore, owing to environmental concerns and awareness about clean and sustainable fuel, there is a rise in the demand for EVs.Government initiatives and regulations support the adoption of EVs around the world.
Thus, such factors are expected to boost the demand of cathode materials for the automotive segment.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level Executives – 25%, Directors – 30%, Others – 45%
• By Region: North America – 15%, Europe – 20%, Asia Pacific – 55%, South America – 7%, Middle East & Africa – 3%,
As a part of qualitative analysis, the research provides a comprehensive review of market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by varied market players, such as Umicore (Belgium), POSCO (South Korea), Mitsui Mining & Smelting Co., Ltd. (Japan), LG Chem (South Korea), TODA KOGYO CORP. (Japan), Showa Denko K.K. (Japan), Ningbo Shanshan Co., Ltd. (China), Nichia Corporation (Japan), NEI Corporation (US), Ascend Elements, Inc. (US), BASF SE (Germany), Sumitomo Metal Mining Co., Ltd. (Japan), Hitachi Metals, Ltd.(Japan), EVM Metals Group (Australia), Shenzhen Dynanonic Co., Ltd. (China), and Zhejiang Huayou Cobalt (China).
The report defines the cathode materials market based on material, battery type, end-use, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges.
It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as agreements, expansions, partnerships, and contracts undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the cathode materials market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05404722/?utm_source=GNW
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