logo

Cathode Material Market Size (2024 - 2029)

The cathode materials market is projected to experience significant growth over the forecast period, driven by increasing demand from electric vehicle manufacturers and the consumer electronics sector. Despite challenges posed by stringent safety regulations for battery storage and transportation, the market is expected to expand, with opportunities arising from ongoing research and advancements in cathode materials and electrolytes. The Asia-Pacific region leads the market due to its substantial application in the automotive industry, which boosts demand. The market's expansion reflects a recovery from the mixed impacts of the COVID-19 pandemic, as sectors like electric vehicles and renewable energy continue to thrive.

Home Market Analysis Chemicals & Materials Research Metals and Minerals Research Metals Research Metallurgy Research Cathode Materials Research Cathode Materials Industry Market Size

Market Size of Cathode Material Industry

Cathode Material Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 27.37 Billion
Market Size (2029) USD 54.38 Billion
CAGR (2024 - 2029) > 14.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Cathode Material Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cathode Material Market Analysis

The Cathode Material Market size is estimated at USD 27.37 billion in 2024, and is expected to reach USD 54.38 billion by 2029, growing at a CAGR of greater than 14% during the forecast period (2024-2029).

The COVID-19 pandemic had a mixed impact on the global cathode materials market. While there was a temporary slowdown in the manufacturing and automotive sectors, which are major consumers of cathode materials, the growth in electric vehicles (EVs) and renewable energy sectors remained strong. Nevertheless, in 2021, the industry showed signs of recovery and consequently increased its market demand again.

  • Over the medium term, increasing demand from electric vehicle manufacturers and increasing demand from consumer electronics are some of the factors driving the growth of the market studied.
  • On the flip side, the stringent safety regulations for batteries through storage and transportation are restraints for the market's growth.
  • However, the ongoing research and advancement in cathode material and efficient electrolytes may offer opportunities for market growth.
  • Asia-Pacific dominates the market, owing to the growing application of cathode material in the automotive industry, which augments the demand for cathode material.

Cathode Material Indsutry Segmentation

Cathode materials are used as voltage-limiting and energy-limiting electrodes in batteries. Cathode materials are widely used in lithium-ion batteries for energy storage, and commonly used batteries have cathode materials as a major component.

The cathode material market is segmented by battery type, material, application, and geography. By battery type, the market is segmented into lead-acid, lithium-ion, and other battery types (alkaline battery, nickel-cadmium battery, etc.). By material, the market is segmented into lithium iron phosphate, lithium cobalt oxide, lithium-nickel manganese, lithium manganese oxide, lithium cobalt nickel, aluminum oxide, lead dioxide, and other materials (sodium iron phosphate, oxyhydroxide, and graphite). By application, the market is segmented into automotive, consumer electronics, power tools, energy storage, and other applications (medical devices, aerospace components, etc). The report also covers the market size and forecasts for the market in 18 countries worldwide. For each segment, the market sizing and forecasts are provided in terms of value (USD).

By Battery Type
Lead-Acid
Lithium-Ion
Other Battery Types (Alkaline Battery, Nickel Cadmium Battery, etc)
By Material
Lithium Iron Phosphate
Lithium Cobalt Oxide
Lithium-Nickel Manganese Cobalt
Lithium Manganese Oxide
Lithium Nickel Cobalt Aluminium Oxide
Lead Dioxide
Other Materials (Sodium Iron Phosphate, Oxyhydroxide, and Graphite)
By Application
Automotive
Consumer Electronics
Power Tools
Energy Storage
Other Applications (Medical Devices, Aerospace Components, etc)
By Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
Rest of the World
South America
Middl East and Africa
Need A Different Region Or Segment?
Customize Now

Cathode Material Market Size Summary

The cathode materials market is poised for significant growth, driven by the increasing demand from the electric vehicle and consumer electronics sectors. The market experienced a mixed impact due to the COVID-19 pandemic, with temporary slowdowns in key industries such as manufacturing and automotive. However, the resurgence in electric vehicles and renewable energy sectors has bolstered market demand. The automotive industry, in particular, is a major consumer of cathode materials, with the rising global demand for electric vehicles fueled by government investments and environmental concerns. The reduction in lithium-ion battery prices has further encouraged automobile manufacturers to invest in electric vehicles, thereby enhancing the demand for cathode materials used in these batteries.

Asia-Pacific is expected to dominate the cathode materials market, supported by its robust automotive and electronics industries. Countries like China, India, and Japan are leading the charge in electric vehicle adoption and electronics production, with China being a frontrunner in global electric car sales. The region's growth is further bolstered by supportive government policies and incentives, particularly in India, Thailand, and Indonesia, which are encouraging EV adoption. The market is characterized by a fragmented landscape with key players such as Sumitomo Metal Mining Co. Ltd, Johnson Matthey, BASF SE, Targray, and Umicore. Recent developments, including the construction of large-scale cathode plants by companies like POSCO and LG Chem, indicate a strong commitment to expanding production capacity to meet the growing demand.

Explore More

Cathode Material Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing demand from Automotive Industry

      2. 1.1.2 Increasing Production of Electronics Products

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Safety Issues with Transportation and Storage

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 By Battery Type

      1. 2.1.1 Lead-Acid

      2. 2.1.2 Lithium-Ion

      3. 2.1.3 Other Battery Types (Alkaline Battery, Nickel Cadmium Battery, etc)

    2. 2.2 By Material

      1. 2.2.1 Lithium Iron Phosphate

      2. 2.2.2 Lithium Cobalt Oxide

      3. 2.2.3 Lithium-Nickel Manganese Cobalt

      4. 2.2.4 Lithium Manganese Oxide

      5. 2.2.5 Lithium Nickel Cobalt Aluminium Oxide

      6. 2.2.6 Lead Dioxide

      7. 2.2.7 Other Materials (Sodium Iron Phosphate, Oxyhydroxide, and Graphite)

    3. 2.3 By Application

      1. 2.3.1 Automotive

      2. 2.3.2 Consumer Electronics

      3. 2.3.3 Power Tools

      4. 2.3.4 Energy Storage

      5. 2.3.5 Other Applications (Medical Devices, Aerospace Components, etc)

    4. 2.4 By Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Malaysia

        6. 2.4.1.6 Thailand

        7. 2.4.1.7 Indonesia

        8. 2.4.1.8 Vietnam

        9. 2.4.1.9 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Spain

        6. 2.4.3.6 NORDIC Countries

        7. 2.4.3.7 Turkey

        8. 2.4.3.8 Russia

        9. 2.4.3.9 Rest of Europe

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 South America

        2. 2.4.4.2 Middl East and Africa

Cathode Material Market Size FAQs

The Cathode Material Market size is expected to reach USD 27.37 billion in 2024 and grow at a CAGR of greater than 14% to reach USD 54.38 billion by 2029.

In 2024, the Cathode Material Market size is expected to reach USD 27.37 billion.

Cathode Materials Market Report Snapshots

Cathode Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)