Global Cathode Materials Analysis 2021 Research by Size, Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Regional Analysis and Global Forecast to 2027
Market Segmentation
The global cathode materials market has been segmented
by materials, end user, and region.
On the basis of materials, the market has been
segmented into lithium nickel manganese cobalt (Li-NMC), lithium nickel cobalt
aluminum (Li-NCA), lithium cobalt oxide (LCO), lithium manganese oxide (LMO),
and lithium iron phosphate (LFP). The lithium cobalt oxide segment accounted
for the largest share of the cathode materials market in 2017, and is expected
to grow at a considerable rate during the review period. In LCO, the cathode
material contains 60% cobalt and accounts for 50% of the weight of the cathode.
The use of LCO is increasing in portable devices, such as cell phones, tablets,
laptops, and cameras, owing to its superior property, such as high energy
density. Thus, the increasing spending on consumer electronics, in both
developed and developing countries, is expected to drive the demand for cathode
materials during the forecast period. The lithium nickel manganese cobalt oxide
(NMC) segment accounted for the second largest market share globally,. NMC has
a higher specific power and long-life, due to which it is used in power tools,
e-bikes, and electric vehicles. NMC batteries have a high cycling rate, and
with combined high capacity and high power, NMC is ideally suitable for use in
new generation electric vehicles. Moreover, it has the lowest self-heating rate
among the different types of lithium-ion batteries.
Based on enduser, the market has been segmented into
power tools, automotive, medical equipment, and consumer electronics products.
The consumer electronic product segment accounted for the largest market share
in 2017, owing to the growing demand for home electronics, gaming, , and
outdoor electronics. The demand for automotive is rising with the increasing
production of electric vehicles due to stringent government regulations to
reduce PM2.5 and CO2 emissions.
Regional Analysis
Based on region, the cathode materials market has been
segregated into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa.
The market in Asia-Pacific accounted for the largest
share in 2017, due to the presence of a large number of industries in developing
nations, such as India and China. increasing pollution have raised the concern
for a clean and efficient substitute, from fuel vehicle to electric vehicles,
which is expected to drive the growth of the cathode materials market.
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Competitive Analysis
Some of the key players in the global cathode
materials are Umicore (Belgium), 3M (US), Mitsubishi Chemical Holdings (Japan),
POSCO (South Korea), Johnson Matthey (UK), Hitachi Chemical Co., Ltd. (Japan),
Kureha Corporation (Japan), Sumitomo Corporation (Japan), Todakogyo Corp
(Japan), and Mitsui Mining & Smelting (Japan). NEI Corporation (US),
Targray Technology International Inc. (Canada).
North America is a prominent market for cathode
materials, owing to the surging demand for transportation sector, especially
the public transport is expected to fuel the demand for cathode material . The
European cathode materials market is expected to grow due to the rising demand
in major end-use industries, such as automotive, aerospace, and electronics.
Growing demand for automobiles with high energy efficiency due to concern for
changing climate conditions is expected to impact the market growth positively.
The markets in the Middle East & Africa and Latin America are expected to
exhibit considerable growth during the review period. Growing awareness about
hybrid car benefits in the Middle East is boosting the market growth in the
region. In June 2015, Nissan launched a Nissan Pathfinder Hybrid, providing the
Middle East customers with an eco-friendly sport-utility vehicle. The growing
demand for electric vehicles in Argentina, Brazil, and Mexico is expected to
fuel the demand for cathode materials in latin America.
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