세계의 양극재 시장(2024-2031년)

Global Cathode Materials Market Size, Share & Trends Analysis Report by Material (NMC Cathode Materials, Lithium Cathode Materials, Lithium Dioxide Cathode Materials, And Other Cathode Materials (Lithium Sulfur, Sodium Cobalt Oxide)), by Battery Type (Lithium-ion, Lead Acid, Nickel Cadmium, and Others (Zinc Air, Nickel Metal, Solid State)), and by Distribution Channel (Automotive, Consumer Electronics, Energy & Power, Healthcare, and Industrial) Forecast Period (2024-2031)

Cathode material market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The cathode material market is crucial for producing high-performance batteries used in electric vehicles, consumer electronics, and energy storage systems. It is expected to experience significant growth owing to the increasing demand for Electric Vehicles (EVs), advancements in battery technology, and government incentives to promote renewable energy and greener technologies. Further, the current market trends include a shift towards high-energy-density cathodes, and the development of alternative cathode materials is expected to influence the market demand.

Market Dynamics

Rising EV Adoption

The growing demand for cathode material is fueled by the increasing adoption of EVs globally. This has prompted Original Equipment Manufacturers (OEMs) and battery manufacturers to invest more in developing battery materials with improved storage and performance capabilities. As the demand for EVs continues to rise rapidly, vehicle and battery manufacturers are striving to incorporate batteries that offer increased range and better performance compared to older models at a faster rate, creating ample scope for development for the cathode material manufacturers. For instance, as per the International Energy Agency (IEA), the demand for EV batteries continued to rise in 2023, reaching over 750 GWh, which is a 40.0% increase from 2022. This growth was mainly driven by electric car sales, accounting for 95.0% of the increase. The US and Europe experienced the fastest growth in EV markets, followed closely by China. In 2023, the rest of the world also saw a surge in battery demand, with an increase of over 70.0% compared to 2022, largely due to rising EV sales.

Increasing Investment in Cathode Material Development

The growing investment in developing cathode material is significantly driving the growth of the cathode material market. Many industries and governments focused on battery technology have allocated resources to R&D in battery material science. This has led to the creation of advanced cathodes with higher energy density and longer lifespans. This increased investment supports the development of cutting-edge materials such as lithium nickel cobalt manganese oxide (NCM) and lithium nickel cobalt aluminum oxide (NCA), which are important for high-performance batteries used in EVs and portable electronics. Moreover, increased R&D funding is expected to accelerate innovation, reduce costs, and improve the viability of new cathode technologies, leading to robust market growth. For instance, in September 2023, NOVONIX Limited, a leading battery materials and technology company, announced that its Battery Technology Solutions division in Nova Scotia, Canada, will be receiving up to $2.2 million in R&D funding and advisory services from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The funding will be used to advance two important R&D initiatives aimed at enhancing its battery materials and technology projects. These initiatives include the company's all-dry, zero-waste cathode materials development and pilot line, as well as a new technology to predict the lifespan of lithium-ion batteries.

Segmental Outlook

• Based on material, the market is segmented into NMC cathode materials, lithium cathode materials, lithium dioxide cathode materials, and other cathode materials (lithium-sulfur, sodium cobalt oxide).
• Based on battery type, the market is segmented into lithium-ion, lead acid, nickel cadmium, and others (zinc-air, nickel metal, solid-state).
• Based on end-users, the market is segmented into automotive, consumer electronics, energy & power, healthcare, and industrial.

Lithium-ion is the Preferred Battery Type

Lithium-ion batteries are the preferred type in the cathode material market owing to their high energy density, long cycle life, and relatively low self-discharge rates. The segmental growth factors include advancements in lithium-ion technology, the increasing demand for efficient, reliable energy storage solutions in both consumer and industrial sectors, and the relative cost-effectiveness of lithium-ion batteries. For instance, as per the International Energy Agency, automotive lithium-ion (Li-ion) battery demand increased by about 65.0% to 550 GWh in 2022 from about 330 GWh in 2021, primarily as a result of growth in electric passenger car sales, with new registrations increasing by 55.0% in 2022 relative to 2021.

Automotive is the Biggest End-User Segment

The automotive sector is the biggest end-user segment in the cathode material market owing to the surging demand for EVs, which require high-performance batteries for extended range and efficiency. The segmental growth factors include advancements in automotive battery technology, government incentives and policies promoting electric mobility and sustainability, and increasing consumer shift towards EVs. For instance, as per the International Energy Agency, in China, battery demand for vehicles grew by over 70.0%, while electric car sales increased by 80.0% in 2022 relative to 2021, with growth in battery demand slightly tempered by an increasing share of PHEVs. Battery demand for vehicles in the United States grew by around 80.0%, despite electric car sales only increasing by around 55.0% in 2022.

Regional Outlook

The global cathode materials market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Estimated to Dominate the Global Cathode Materials Market

Asia-Pacific is projected to dominate the cathode material market in the future, attributed to the rapid expansion of the EV market in the region, growing investment in battery material development and technology, a supportive regulatory ecosystem for battery development in the region, and the increasing focus of regional development for creating an electrical and electronics component infrastructure in the region. For instance, in May 2024, Epsilon Advanced Materials (EAM), a global provider of battery material solutions, stated that it is exploring options to acquire land in India for the construction of its $588 million cathode plant. The company is currently evaluating potential locations in five states, including Karnataka, Tamil Nadu, and Telangana, and intends to commence commercial production by next year. This initiative comes on the heels of EAM's recent acquisition of a technology center for lithium-ion phosphate (LFP) cathode active materials in Germany in January.

The major companies serving the global cathode materials market include BASF SE, Ecopro Co., Ltd., POSCO FUTURE M Co., Ltd. Sumitomo Metal Mining Co., Ltd., and Umicore, among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others.

Recent Development

• In February 2023, LG Chem secured a long-term cathode material supply contract with General Motors (GM) worth KRW 25 trillion ($19.1 billion). The partnership aims to strengthen cooperation in the North American market by utilizing LG Chem's cathode plant in Tennessee, US as a production hub for the global battery material market. Beginning in 2026 through 2035, LG Chem will supply GM with more than 500,000 tons of cathode materials, sufficient to power 5 million units of high-performance pure EVs with a range of 500km on a single charge.

Table of Contents

1. Report Summary

• Current Industry Analysis and Growth Potential Outlook
• 1.1. Research Methods and Tools
• 1.2. Market Breakdown
  • 1.2.1. By Segments
  • 1.2.2. By Region

2. Market Overview and Insights

• 2.1. Scope of the Report
• 2.2. Analyst Insight & Current Market Trends
  • 2.2.1. Key Industry Trends
  • 2.2.2. Recommendations
  • 2.2.3. Conclusion

3. Competitive Landscape

• 3.1. Key Company Analysis
  • 3.1.1. Overview
  • 3.1.2. Financial Analysis
  • 3.1.3. SWOT Analysis
  • 3.1.4. Recent Developments
• 3.2. Key Strategy Analysis

4. Market Segmentation

• 4.1. Global Cathode Materials Market by Material
  • 4.1.1. NMC Cathode Materials
  • 4.1.2. Lithium Cathode Materials
    • 4.1.2.1. Lithium Phosphate (LFP)
    • 4.1.2.2. Lithium Cobalt Oxide (LCO)
    • 4.1.2.3. Lithium Nickel Manganese Cobalt (NMC)
    • 4.1.2.4. Lithium Nickel Cobalt Aluminum (NCA)
    • 4.1.2.5. Lithium Manganese Oxide (LMO)
  • 4.1.3. Lithium Dioxide Cathode Materials
  • 4.1.4. Other Cathode Materials (Lithium Sulfur, Sodium Cobalt Oxide)
• 4.2. Global Cathode Materials Market by Battery Type
  • 4.2.1. Lithium-ion
  • 4.2.2. Lead Acid
  • 4.2.3. Nickel Cadmium
  • 4.2.4. Others (Zinc Air, Nickel Metal, Solid State)
• 4.3. Global Cathode Materials Market by End-User
  • 4.3.1. Automotive
  • 4.3.2. Consumer Electronics
  • 4.3.3. Energy & Power
  • 4.3.4. Healthcare
  • 4.3.5. Industrial

5. Regional Analysis

• 5.1. North America
  • 5.1.1. United States
  • 5.1.2. Canada
• 5.2. Europe
  • 5.2.1. UK
  • 5.2.2. Germany
  • 5.2.3. Italy
  • 5.2.4. Spain
  • 5.2.5. France
  • 5.2.6. Rest of Europe
• 5.3. Asia-Pacific
  • 5.3.1. China
  • 5.3.2. India
  • 5.3.3. Japan
  • 5.3.4. South Korea
  • 5.3.5. Rest of Asia-Pacific
• 5.4. Rest of the World
  • 5.4.1. Latin America
  • 5.4.2. Middle East and Africa

6. Company Profiles

• 6.1. Aleees
• 6.2. Altmin Pvt. Ltd.
• 6.3. American Elements
• 6.4. Ascend Elements, Inc.
• 6.5. BASF SE
• 6.6. Ecopro Co., Ltd.
• 6.7. Epsilon Advanced Materials Pvt. Ltd.
• 6.8. Finnish Minerals Group
• 6.9. Ganfeng Lithium Group Co., Ltd
• 6.10. Guizhou Zhenhua New Materials
• 6.11. Huayou Cobalt Co., Ltd.
• 6.12. Hunan Changyuan Lithium Technology Co., Ltd.
• 6.13. L&F CORP.
• 6.14. LG Chem Ltd.
• 6.15. Macsen Laboratories
• 6.16. Nantong Ruixiang New Materials Co., Ltd.
• 6.17. NICHIA CORP.
• 6.18. NEI Corp.
• 6.19. POSCO FUTURE M Co., Ltd.
• 6.20. Redwood Materials, Inc.
• 6.21. Shanshan Co.
• 6.22. Shenzhen Dynanonic Co., Ltd.
• 6.23. Sumitomo Metal Mining Co., Ltd.
• 6.24. Tanaka Chemical Corp.
• 6.25. Targray Technology International Inc.
• 6.26. Tianqi Lithium Co., Ltd.
• 6.27. TexPower EV Technologies, Inc.
• 6.28. TODA KOGYO CORP.
• 6.29. Umicore
• 6.30. Xiamen Acey New Energy Technology Co., Ltd.
• 6.31. Xiamen Tmax Battery Equipments Ltd.