| Study Period | 2020 - 2030 |
| Market Volume (2025) | 24.47 kilotons |
| Market Volume (2030) | 29.88 kilotons |
| CAGR | 4.07 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cadmium Market Analysis
The Cadmium Market size is estimated at 24.47 kilotons in 2025, and is expected to reach 29.88 kilotons by 2030, at a CAGR of 4.07% during the forecast period (2025-2030).
Due to the COVID-19 pandemic, many cadmium manufacturers were forced to halt operations to comply with government regulations, which disrupted revenue streams, caused supply chain disruptions and increased logistics cost.
- Growing demand for Nickel-Cadmium batteries and increasing demand for efficient energy storage solutions in EVs, might drive the market forward.
- Stricter laws on cadmium usage, driven by toxicity concerns, could hinder market growth. For example, specific OSHA standards like General Industry (29 CFR 1910) and Maritime (29 CFR 1915, 1917, 1918), address cadmium exposure protections across various sectors, including general industry, maritime, construction, and agriculture.
- The growing popularity of green energy solutions and sustainable practices are poised to provide new opportunities for cadmium market.
- Asia-Pacific region dominates the market and is expected to witness the highest growth during the forecast period.
Cadmium Market Trends
Battery Application Segment to Dominate the Market
- Nickel-cadmium batteries play a pivotal role in driving the market for cadmium.
- Nickel-cadmium batteries are known for their resilience to electrical abuse, high cycle life, and reliability. Their versatility and availability in various constructions, sizes, capacities, and shapes make them suitable for diverse applications, with the choice depending on the intended use and load requirements.
- Industrial nickel-cadmium batteries, available in vented and semi-sealed types, are used in railway operations, standby power systems, military communications, and aeronautics.
- Batteries are emerging as pivotal players in the clean electrification movement in the journey towards decarbonization. Projections indicate a surge in global manufacturing capacity, escalating from two terawatt-hours in 2023 to a robust seven terawatt-hours by 2030, with China poised to dominate, holding a 60 percent share.
- According to IEA reports, Electric vehicle (EV) battery deployment increased by 40% in 2023, with 14 million new electric cars accounting for the vast majority of batteries used in the energy sector.
- IEA reported that, on the trajectory to net zero emissions, the global battery market is poised to quadruple its value by 2030. Presently valued at USD 120 billion, the market for battery packs in electric vehicles (EVs) and storage applications is projected to soar to nearly USD 500 billion by 2030 under the net zero emissions (NZE) scenario.
- In 2023, Asia was home to the top ten global players in electric vehicle battery manufacturing, with a notable concentration of six in China, with China's Contemporary Amperex Technology Co. Limited (CATL) taking the lead.
- Consequently, these factors are likely to influence the market during the forecast period, leading to a surge in demand for cadmium in the battery application segment.
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The Asia-Pacific Region to Dominate the Market
- Asia-Pacific, led by China, is set to dominate the global market, driven by its vast manufacturing base and rapid industrial growth, especially in battery production. The region's burgeoning industrial landscape underscores its pivotal role in cadmium consumption.
- Asia houses the entire NiCd battery industry, with major players like BYD Co., Ltd. from China and Japan's Panasonic Corp. and Sanyo Electric Co., Ltd.
- According to the Battery Association of Japan, in 2023, Japan's export value for secondary nickel-metal-hydride batteries reached approximately JPY 146.3 billion (~USD 989 million), up from JPY 129.1 billion (~USD 873 million) in the previous year.
- As per PlasticsEurope (PEMRG), Asia-Pacific has emerged as a leader in global plastic materials production. The rising demand for cadmium pigments is largely attributed to the growing use of heat-resistant plastics across various applications.
- In 2023, mainland China's total solar cell production capacity hit 929.9 GW, marking an impressive 84% year-on-year surge, as reported by IEA and CPIA. The output reached approximately 591.3 GW, reflecting a robust 78.9% annual growth. Furthermore, China's total production capacity for PV modules in 2023 reached 920GW, with an output of 518.1GW, showcasing impressive year-on-year growth rates of 66.7% and 75.8%, respectively.
- As reported by IEA and CPIA, in 2023, centralized PV installations in China surged to 120.01 GW, a staggering 230.7% increase from the previous year, constituting 55.5% of the nation's new PV installations. Meanwhile, distributed PV installations reached 96.29GW, up 88.4% year-on-year, making up the remaining 44.5% of the new capacity. Breaking it down further, commercial and industrial PV installations accounted for 52.81 GW (a 104.1% increase), representing 24.4% of the new installations. Residential PVs contributed 43.48GW, marking a 72.2% rise and 20.1% of the total new installations.
- Japan's government, under its new Strategic Energy Plan, has set an ambitious target of 38% renewable energy share by 2030, aiming for complete carbon neutrality by 2050.
- Meanwhile, India bolstered its solar PV module manufacturing capacity by 11.3 gigawatts in the first half of 2024, bringing its total to 77.2 gigawatts.
- Therefore, the demand for cadmium is estimated to increase at the fastest rate in the Asia-Pacific region over the forecast period.
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Cadmium Industry Overview
The Cadmium Market is consolidated, with the presence of major players like Dalian Rich Fortune Chemical Co., Ltd, Huntsman Corporation, JX Nippon Mining and Metals, Korea Zinc and Stanford Advanced Materials, among others.
Cadmium Market Leaders
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Dalian Rich Fortune Chemical Co., Ltd
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Huntsman Corporation
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JX Advanced Metals Corporation
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Korea Zinc
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Stanford Advanced Materials
- *Disclaimer: Major Players sorted in no particular order
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Cadmium Market News
- November 2024: JX Advanced Metals USA, Inc. (JX USA), formerly known as JX Nippon Mining & Metals USA, Inc., a semiconductor materials company, celebrated the grand opening of its manufacturing plant southeast of Phoenix-Mesa Gateway Airport. The facility, currently in test production, will begin full-scale production of sputtering targets for the semiconductor industry in early 2025, serving customers in North America and Europe.
- November 2024: Young Poong, has been ordered to close down its refinery facility for two months for discharging polluted wastewater without authorization, posing a possible setback in its attempt to take ownership control of Korea Zinc, its affiliate and the world’s largest zinc producer.
Cadmium Industry Segmentation
Cadmium, a soft and malleable bluish-white metal, that typically occurs in nature, often combined with elements like oxygen (as cadmium oxide), chlorine (cadmium chloride), or sulfur (in forms like cadmium sulfate and cadmium sulfide). Cadmium is ubiquitous, found in all soils and rocks, and even in coal and mineral fertilizers. Due to its resistance to corrosion, cadmium finds applications in batteries, pigments, metal coatings, and plastics.
The cadmium market is segmented by product type, application and geography. By product type, the market is segmented into pigments, cadmium metal, cadmium oxide and other products. By applications, the market can be segmented into batteries, alloys, coatings, solar cells and other applications. The report offers market size forecasts for the cadmium market in over 27 countries across major regions. For each segment, the market sizing and forecasts have been made on the basis of volume (tons).
| Product Type | Pigments | ||
| Cadmium Metal | |||
| Cadmium Oxide | |||
| Others | |||
| Application | Batteries | ||
| Alloys | |||
| Coatings | |||
| Solar Cells | |||
| Other Applications | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Thailand | |||
| Malaysia | |||
| Indonesia | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Russia | |||
| Turkey | |||
| Nordic Countries | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Nigeria | |||
| Qatar | |||
| Egypt | |||
| United Arab Emirates | |||
| Rest of Middle-East and Africa | |||
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Cadmium Market Research FAQs
How big is the Cadmium Market?
The Cadmium Market size is expected to reach 24.47 kilotons in 2025 and grow at a CAGR of 4.07% to reach 29.88 kilotons by 2030.
What is the current Cadmium Market size?
In 2025, the Cadmium Market size is expected to reach 24.47 kilotons.
Who are the key players in Cadmium Market?
Dalian Rich Fortune Chemical Co., Ltd, Huntsman Corporation, JX Advanced Metals Corporation, Korea Zinc and Stanford Advanced Materials are the major companies operating in the Cadmium Market.
Which is the fastest growing region in Cadmium Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Cadmium Market?
In 2025, the Asia Pacific accounts for the largest market share in Cadmium Market.
What years does this Cadmium Market cover, and what was the market size in 2024?
In 2024, the Cadmium Market size was estimated at 23.47 kilotons. The report covers the Cadmium Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Cadmium Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Cadmium Industry Report
Statistics for the 2025 Cadmium market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cadmium analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
