Cathode Materials Global Market Report 2023: Growing Demand for Batteries in Electric Vehicles Boosts Sector - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Cathode Materials Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global cathode materials market grew from $18.57 billion in 2022 to $20.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The cathode materials market is expected to grow to $27.91 billion in 2027 at a CAGR of 8.1%.
North America was the largest region in the cathode materials market in 2022. Asia-Pacific is expected to be the fastest-growing regions in the forecast period. The regions covered in the cathode materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cathode materials are lithium cobalt oxide or lithium cobaltate, lithium manganese oxide or spinel or lithium manganate, lithium iron phosphate or lithium nickel manganese cobalt (NMC), lithium nickel cobalt aluminum oxide, sulfur cathodes, sodium cobalt oxide, and others.
Lithium manganese oxide is a type of lithium assault that uses manganese as an allure cathode and lithium as an allure anode. The different battery types include lead-acid, lithium-ion, and others. These are used in portable gadgets, medical devices (cardiac pacemakers, implantable cardiac defibrillators (ICDs), and others), power tools, wireless peripherals or cordless devices, power storage systems, and other applications.
The growing usage of batteries in electric vehicles is expected to propel the growth of the cathode materials market going forward. Electric vehicles refer to vehicles that are either partially or fully run on electricity. Cathode materials are used in Li-ion batteries in electric vehicles to generate electricity through chemical reactions.
For instance, according to Power-Technology, a US-based journal which provides information on the global energy industry, there was an increase in the sale of electric vehicles by 160% in the first half of 2021, which stood at 2.6 million units. In addition, China remained the world's top EV market, with 1.1 million vehicles sold in the first half of 2021, accounting for 12% of sales. Therefore, increasing usage of electric vehicles is driving the growth of the cathode materials market.
Technological innovations have emerged as the key trend gaining popularity in the cathode materials market. Major companies operating in the cathode materials sector are focused on introducing new technological innovations to sustain their position in the market.
For instance, in April 2022, Ascend Elements, a US-based company that produces cathode active materials, launched Hydro-to-Cathode process technology. This technology helps to transform critical elements from recycled lithium-ion batteries into new cathode materials. This is an advanced technology for producing cathode materials by using recycled batteries.
The countries covered in the cathode materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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1) By Material: Lithium Cobalt Oxide or Lithium Cobaltate; Lithium Manganese Oxide or Spinel or Lithium Manganate; Lithium Iron Phosphate or Lithium Nickel Manganese Cobalt (NMC); Lithium Nickel Cobalt Aluminum Oxide; Sulfur Cathodes; Sodium Cobalt Oxide; Other Materials
2) By Battery Type: Lead-Acid; Lithium-Ion; Other Battery Types
3) By Application: Portable Gadgets; Medical Devices (Cardiac Pacemakers, Implantable Cardiac Defibrillators (ICDs), and Others); Power Tools; Wireless Peripherals or Cordless Devices; Power Storage Systems; Other Applications
Key Topics Covered:
1. Executive Summary
2. Cathode Materials Market Characteristics
3. Cathode Materials Market Trends And Strategies
4. Cathode Materials Market - Macro Economic Scenario
5. Cathode Materials Market Size And Growth
6. Cathode Materials Market Segmentation
7. Cathode Materials Market Regional And Country Analysis
8. Asia-Pacific Cathode Materials Market
9. China Cathode Materials Market
10. India Cathode Materials Market
11. Japan Cathode Materials Market
12. Australia Cathode Materials Market
13. Indonesia Cathode Materials Market
14. South Korea Cathode Materials Market
15. Western Europe Cathode Materials Market
16. UK Cathode Materials Market
17. Germany Cathode Materials Market
18. France Cathode Materials Market
19. Eastern Europe Cathode Materials Market
20. Russia Cathode Materials Market
21. North America Cathode Materials Market
22. USA Cathode Materials Market
23. South America Cathode Materials Market
24. Brazil Cathode Materials Market
25. Middle East Cathode Materials Market
26. Africa Cathode Materials Market
27. Cathode Materials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cathode Materials Market
29. Cathode Materials Market Future Outlook and Potential Analysis
A selection of companies mentioned in this report includes
- BASF SE
- Johnson Matthey plc
- Kureha Corporation
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- Mitsui Mining & Smelting Co.Ltd.
- NEI Corporation
- Showa Denko Materials Co.Ltd.
- Toda Kogyo Corp
- Gravita India Limited
- AME Energy Co.Ltd.
- Nano One Materials Corp.
- Ube Industries
- Asahi Kasei Corporation
- Advanced Lithium Electrochemistry Co. Ltd.
- Nippon Chemical Industrial Co.Ltd.
- Tanaka Chemical Corporation
For more information about this report visit https://www.researchandmarkets.com/r/l5nzyt
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