Lithium-Ion Battery Cathode Market Report Scope & Overview:

The Lithium-Ion Battery Cathode Market size was valued at USD 22.22 billion in 2022 and is expected to grow to USD 94.90 billion by 2030 and grow at a CAGR of 19.9 % over the forecast period of 2023-2030.

The primary factor affecting the energy density of the cell in a lithium-ion battery is the cathode material. Cell voltage or cell capacity are used to measure this energy density. The lithium-ion battery's working principle is based on intercalation and deintercalation compounds, where lithium ions from the cathode are added to the anode during charging and removed during discharging with little structural change to the anode. The choice of cathode material is influenced by a number of variables, including operating temperature, cell voltage, capacity, energy and power capabilities, and cycle life. A lithium-ion battery's cathode is made of a variety of minerals, including cobalt, manganese, phosphate, nickel cobalt manganese (NCM OR NMO), lithium iron phosphate (LFP), and more.

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The need for cathode materials has increased as a result of the increased dependability and compatibility of lithium-ion batteries. Additionally, the market's expansion has been fuelled by a surge in lithium-ion battery applications.

However, a significant issue limiting industry expansion is the heating of lithium-ion batteries. It is anticipated that the creation of superior lithium-ion batteries with more capacity and improved heat control would provide profitable growth prospects.

MARKET DYNAMICS

KEY DRIVERS:  

• Increasing demand for electric device

• Rising emergence of economic alternatives

• Growing demand for lithium-ion battery cathodes

The Compact, transportable power sources are frequently needed for medical devices to function properly. batterie lithium-ion are a great option because to their high energy density, extended cycle life, and rechargeable capabilities to power a variety of medical equipment.

RESTRAIN:

• Heating Of Lithium-Ion Battery

• High cost

OPPORTUNITY: 

• Better Heat Management

• Rising demand for a remote patient monitoring

The need for portable medical devices with wireless data transmission capabilities has grown due to the growth of telemedicine and remote patient monitoring. These gadgets are powered by lithium-ion batteries, which keep them going for a long time and allow for real-time data collecting and communication between healthcare personnel.

CHALLENGES:

• Lack of government support and incentives for lithium-ion battery producers

IMPACT OF RUSSIA-UKRAINE WAR

Due to its effective energy storage per unit of weight, lithium has practically become unreplaceable in EV batteries.
Lithium consumption is expected to soar by 400% to 4,000% globally over the next few years. Without further investment in mining capacity, costs may grow too high for EV adoption as demand exceeds supply. Soon after the crisis started, Tesla announced a price raise of more than $2,370 for its Model Y vehicle, crushing Elon Musk's aim of cutting prices to draw in new consumers. A successful transition to sustainable energy requires lithium.

KEY MARKET SEGMENTATION

By Type

• Cobalt

• MANGANESE

• Phosphate

• Nickel Cobalt Manganese (NCM OR NMC)

• Lithium Iron Phosphate (LFP)

• Others

By End User

• Power Tools

• Power Tools

• Consumer Electronics Products

• Others

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REGIONAL ANALYSIS

The region with the most revenue share is anticipated to keep leading during the projection period. The main driver of the demand for lithium battery cathodes in Asia Pacific is the increased need for batteries in consumer electronics and industrial applications. Additionally, it is anticipated that the increased production of lithium batteries in the region will fuel in the upcoming years, the cathodes market will expand.

Due to the rising need for lithium-ion batteries in the automobile sector, North America and Asia Pacific are two regions with a significant automotive industry. The demand for cathodes in the aforementioned regions is anticipated to increase over the next years as a result of rising use in electric cars and advancements in battery technology.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

RECENT DEVELOPMENTS

• POSCO Chemical declared in April 2022 that construction had started on a new production facility with a capacity of 30,000 tons of high-purity nickel cathodes. This will assist the business in growing its clientele in the cathode materials sector.

• Umicore opened a brand-new worldwide R&D facility for cathode materials in Cheonan, Korea, in May 2022. It focuses on following generation battery materials, such as solid-state, extremely high-nickel, low-cobalt, manganese-rich, and cite the science of battery materials.

• Ningbo Shanshan Co., Ltd. and BASF SE established a joint venture in August 2021. The newly established business, BASF Cathode active materials and precursor cathode active materials are sold by Shanshan Battery Materials Co., Ltd.

KEY PLAYERS

The Major Players are JFE Chemical Corporation, TARGRAY Technology International Inc, Hitachi Chemical Co., Ltd, Nichia Corporation, Mitsubishi Chemical Corporation, NEI Corporation, Long Power Systems (Suzhou) Co., Ltd, BASF SE, Fujitsu, Santoku Corporation and other players are listed in a final report.

Hitachi Chemical Co Ltd-Company Financial Analysis