Cathode Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for cathode material is expected to grow at a CAGR of more than 6% globally during the forecast period. 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 growing product application in the automotive and electronic sector has been driving the market growth.

However, the stringent safety regulations for batteries through storage and transportation and unfavorable conditions arising due to the COVID-19 outbreak are anticipated to pose a challenge in the growth of the cathode materials market during the forecast period.

The evolving research and technological advancement in cathode material and efficient electrolytes which could enhance their overall performance in terms of stability, charge density, and durability offer great opportunities for the anti-ice coating market over the next five years.

Asia-Pacific region dominates the market, owing to growing application of cathode material in automotive industry, which augment the demand for cathode material.

Key Market Trends

Automotive Industry to Dominate the Market

• The automotive sector stands to be the dominating segment owing to the extensive consumption of cathode material in batteries in vehicles.
• Increasing demand for fuel and reduction in the price of Li-ion batteries has also encouraged automobile manufacturers to invest more in electric vehicles.
• Initiatives beneath Clean Energy Ministerial (CEM) like electric vehicle initiative and shifting preference from fuel energy to battery energy due to CO2 emission regulations are likely to drive the consumption of cathode material in the near future.
• Asia-Pacific have been registering strong growth in the utilization of cathode material in consumer electronics, renewable energy and automotive industry, which is expected to drive the market over the forecast period.
• All the aforementioned factors are expected to drive the cathode material market during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region stands to be the governing market for cathode material. Factors, such as growing need for energy, high demand for battery energy systems and increasing battery consumers in countries like China, India, South Korea, Japan, and Vietnam, etc. are expected to propel the market growth.
• Increasing application of battery in many industries including automotive, consumer electronics, power tools, and energy system storage is expected to propel the demand for cathode materials. The increasing adoption of electric vehicles in countries like China is also expected to contribute to the demand for cathode material.
• Beneficial attributes of lithium-ion batteries like high energy density, discharge capabilities, and fast charge and growing market for smart devices and other consumer electronics in countries like China, India, and Vietnam, etc.
• Furthermore, growing projects and aggressive investments by countries like China and India in renewable energy is expected to drive the cathode material market in the region.
• Hence, all such market trends are expected to drive the demand for cathode material market in the region during the forecast period.

Competitive Landscape

The global cathode material market is fragmented in nature with a number of players operating in the market. Some of the major companies are Johnson Matthey, Sumitomo Metal Mining Co. Ltd, Targray Technology International, BASF SE and Umicore amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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