The global cathode materials market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2021-2028).
Lithium and metal make up the active components in cathodes. Depending on the type of metal and its ratio, active materials have varying properties. Ni(Nickel) has a high capacity, Mn(Manganese) and Co(Cobalt) have a high level of safety and Al(Aluminum) enhances the battery's power. Mg: Ag (10:1), LiF and Mg: Al is some of the most commonly used cathodes. The cathode is commonly made of aluminum (Al), but alternative insulating layers like MgO, CsF, Al2O3 and NaCl have also been investigated to improve electron injection. Lithium(-ion) and sodium(-ion) cathode materials are identical to those used in classic LIBs and SIBs (lithium-ion and sodium-ion batteries, respectively).
Cathode materials are a sort of electric battery that can store power in energy and then convert it to electricity when needed. Cathode materials are made up of three major components: cathode, anode and solution. During the petrochemical process, the cathode defines the positive side of the terminal voltage battery, while the electrode obtains electrons from the external circuit.
Lithium iron phosphate, lithium cobalt oxide, lithium nickel manganese cobalt and lead dioxide make up the cathode material. Metal-insulator transitions, charge-ordering and co-operative Jahn-Teller distortions are just a few of the remarkable physical phenomena these materials show. Controlling the cathode material's local dynamic and structural behavior is critical for developing a custom energy storage device with innovative features.
The rising usage of portable electronic gadgets, stationary energy storage and electric vehicles is driving greater demand for cathode material. Lithium-ion batteries with high energy density, discharge capability and fast charging are becoming increasingly popular. Because of the growing use of rechargeable batteries, the researcher decided to look into the cathode material.
Trending use of lithium-ion batteries for various purposes
The growing use of lithium-ion batteries in portable electronic accessories and equipment such as laptops, tablets, mobile phones, digital cameras and other similar devices is driving battery growth in those applications, resulting in increased demand for cathode materials. In consumer electronics and the automotive industry for starting, lighting and ignition applications, the usage of batteries is steadily increasing. Furthermore, the development of hybrid and electric engines for use in automobiles, ships and locomotives is increasing the need for batteries in the transportation industry.
The demand for cathode materials is increasing dramatically over the world as a result of this development. Another application of batteries is for power backup in homes, businesses and industries and for maintaining an uninterrupted power supply in power grids and telecom towers. With the modernization of the power sector, urbanization and the development of smart cities, demand for batteries and cathode materials is predicted to rise steadily shortly.
Rising demand for energy conservation
During the projection period, energy storage applications will likely increase product consumption. Consumer electronics, power tools, forklifts, telecommunications, ESS, UPS and transportation are all batteries' common uses. Concerns about power outages and their impact on industrial operations have fueled demand for uninterruptible power supply systems. Chemical, manufacturing, oil & gas and healthcare are just a few industries. The ongoing transition from conventional to alternative energy sources and the rising need for energy conservation is expected to accelerate the use of advanced energy storage systems.
The growing use of smart grids and renewable energy trends are expected to increase demand for these systems. Long-term, ongoing R&D to improve the efficiency of cathode materials for ESS, including lithium, sodium and nickel, is predicted to provide significant prospects for raw material makers. Growing awareness among cathode materials market players about sustainable battery material sourcing, recycling and waste disposal has been significant in optimizing the production and disposal routes across geographies.
Safety and high costs of raw materials
Limited capacity, high energy consumption in production, safety issues and high-cost raw materials are all disadvantages of inorganic cathode materials, which are frequently used. As a result, green and sustainable cathode materials with higher specific capacities, improved safety features and more abundant natural resources are required. A growing desire for cathode material safety during activities hinders the market's expansion.
COVID-19 Impact Analysis
The global market for cathode materials has been drastically impacted due to the COVID-19 epidemic. However, over the projection period, strict safety rules for batteries in terms of storage and shipping and poor conditions resulting from the COVID-19 epidemic are expected to hinder the cathode materials market's growth.
As the pandemic's negative impact on demand spreads to Chinese battery cell and cathode material producers, China's May export orders of LCO materials to Japan and South Korea are expected to drop, while export orders of LCO batteries to India are expected to drop.
By battery, the cathode materials market is segmented into lithium-ion, lead-acid and others.
Lead-acid to hold the lions' share.
In a lithium-ion battery, the cathode material is the most important component that affects the cell's energy density. Cell voltage or cell capacity are used to calculate this energy density. The lithium-ion battery's operating mechanism is based on intercalation and deintercalation chemicals. Lithium ions from the cathode are admitted into the anode during charging and withdrawn during discharging, with the anode's structural change being structural negligible.
The cathode material used is determined by several characteristics, including cell voltage, capacity, energy & power capability, cycle life and operating temperature. Cobalt, manganese, phosphate, nickel cobalt manganese (NCM OR NMC), lithium iron phosphate (LFP) and other minerals are utilized in the cathode of a lithium-ion battery. Increased demand for lithium-ion batteries has resulted from improved reliability and compatibility, which has fueled demand for cathode materials. Furthermore, the industry has grown due to an expansion in the number of applications for lithium-ion batteries.
The lion's share is to be held by Asia-Pacific.
Technological improvements are causing a surge in energy storage systems in these facilities, which is projected to drive up demand for cathode materials in the future years. Asia-Pacific is expected to be a prominent revenue provider global throughout the forecast horizon. The growing use of batteries in various industries, such as automotive, consumer electronics, power tools and energy storage systems, is likely to demand cathode materials.
The rising popularity of electric vehicles in nations like China will likely boost demand for cathode material. High energy density, discharge capacities and fast charging are advantages of lithium-ion batteries, as is the rising market for smart devices and other consumer electronics in countries like China, India and Vietnam. Aside from production, China is a major user of batteries due to its large-scale electronic and automobile manufacturing.
Established and small-scale players' presence characterizes the competitive landscape for cathode materials. Major global cathode materials market companies include Umicore, The 3M Company, Mitsubishi Chemical Holdings, Posco, Johnson Matthey, BASF SE, Hitachi Chemical, Kureha Corporation, Sumitomo Corporation and Mitsui Mining & Smelting Company.
Overview: Umicore was formed in 1989 by the merger of four mining and smelting companies. Since then, it has reshaped itself into a more technology-focused company, encompassing such areas as refining and recycling and manufacturing specialized products from precious metals, cobalt, germanium, zinc and other metals.
Since its origin in 1991, the firm has been a part of Belgium's benchmark BEL20 stock market index. Union Meniere changed its name to Umicore in 2001 to reflect the shift away from mining and the manufacturing of commodities and base metals.
Product Portfolio: Since 1999, Umicore has focused on cathode materials. Umicore Rechargeable Battery Materials is a pioneer in developing cathode materials for lithium-ion batteries used in electric vehicles, portable devices and energy storage & power tools. It provides a diverse range of high-quality Cellcore® products for various applications within these categories.
Key Development: Umicore and LG Chem have agreed to a multi-year strategic supply arrangement for NMC (Nickel Manganese Cobalt) cathode materials from Umicore operations in Poland, Korea and China to meet LG Chem's demands. The supply deal goes into effect in 2020 and covers 125,000 metric tons over several years. In addition, both the companies will enter into a technological license agreement that will protect core IP rights.
As car manufacturers extend their offering of longer-range electric vehicle models in numerous areas, the supply arrangement will help LG Chem fulfill the growing demand for rechargeable lithium-ion batteries. LG Chem will benefit from Umicore's nearly two-decade experience in researching and manufacturing cost-optimized cathode materials that enable long driving ranges, rapid charge and low battery degradation.
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Target Audience 2022
Cathode Materials Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Table of Contents
1. Global Cathode Materials Market Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Global Cathode Materials Market - Market Definition and Overview
3. Global Cathode Materials Market - Executive Summary
- 3.1. Market Snippet By Battery
- 3.2. Market Snippet By Material
- 3.3. Market Snippet By Region
4. Global Cathode Materials Market-Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 22.214.171.124. Trending use of lithium-ion batteries for various purposes
- 126.96.36.199. Rising demand for energy conservation
- 4.1.2. Restraints
- 188.8.131.52. Safety and high costs of raw materials
- 184.108.40.206. XX
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
5. Global Cathode Materials Market - Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. Global Cathode Materials Market - COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. Global Cathode Materials Market - By Battery
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 7.1.2. Market Attractiveness Index, By Battery
- 7.2. Lithium-ion*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Lead-acid
- 7.4. Others
8. Global Cathode Materials Market - By Material
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material.
- 8.1.2. Market Attractiveness Index, By Material
- 8.2. Lithium-ion*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Lead-acid
- 8.4. Others
9. Global Cathode Materials Market - By Region
- 9.1. Introduction
- 9.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.3. Market Attractiveness Index, By Region
- 9.4. North America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 220.127.116.11. U.S.
- 18.104.22.168. Canada
- 22.214.171.124. Mexico
- 9.5. Europe
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 126.96.36.199. Germany
- 188.8.131.52. UK
- 184.108.40.206. France
- 220.127.116.11. Italy
- 18.104.22.168. Spain
- 22.214.171.124. Rest of Europe
- 9.6. South America
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 9.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 126.96.36.199. Brazil
- 188.8.131.52. Argentina
- 184.108.40.206. Rest of South America
- 9.7. Asia-Pacific
- 9.7.1. Introduction
- 9.7.2. Key Region-Specific Dynamics
- 9.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 9.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 9.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 220.127.116.11. China
- 18.104.22.168. India
- 22.214.171.124. Japan
- 126.96.36.199. Australia
- 188.8.131.52. Rest of Asia-Pacific
- 9.8. The Middle East and Africa
- 9.8.1. Introduction
- 9.8.2. Key Region-Specific Dynamics
- 9.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Battery
- 9.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10. Global Cathode Materials Market - Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
11. Global Cathode Materials Market - Company Profiles
- 11.1. Umicore
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Key Highlights
- 11.1.4. Financial Overview
- 11.2. The 3M Company
- 11.3. Mitsubishi Chemical Holdings
- 11.4. Posco
- 11.5. Johnson Matthey
- 11.6. BASF SE
- 11.7. Hitachi Chemical
- 11.8. Kureha Corporation
- 11.9. Sumitomo Corporation
- 11.10. Mitsui Mining & Smelting Company
LIST NOT EXHAUSTIVE
12. Global Cathode Materials Market - Premium Insights
13. Global Cathode Materials Market - DataM
- 13.1. Appendix
- 13.2. About Us and Services
- 13.3. Contact Us