$23+ Billion Worldwide Cathode Materials Industry to 2031 - Rising Usage of Batteries in Electric Vehicles is Expected to Propel Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cathode Materials Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global cathode materials market.

The global cathode materials market is expected to grow from $16.57 billion in 2021 to $18.29 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The cathode materials market is expected to grow to $23.77 billion in 2026 at a CAGR of 6.8%.

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Major players in the cathode materials market are 3M, BASF SE, Johnson Matthey plc, Kureha Corporation, LG Chem Ltd., Mitsubishi Chemical Corporation, Mitsui Mining & Smelting Co.Ltd., NEI Corporation, POSCO, Showa Denko Materials Co.Ltd., Toda Kogyo Corp, Gravita India Limited, AME Energy Co.Ltd., Nano One Materials Corp., Ube Industries, Asahi Kasei Corporation, Kureha, Advanced Lithium Electrochemistry Co. Ltd., Nippon Chemical Industrial Co.Ltd., and Tanaka Chemical Corporation.

The cathode materials market consists of the sale of the cathode materials by entities (organizations, sole traders, and partnerships) that are used to identify the capacity and power of a battery. Cathode materials refer to batteries that include a variety of products that cater to different user needs for high energy density and high load capacity. These materials are comprised of cobalt, nickel, and multi-metal oxide materials to which lithium is added.

The main types of cathode materials are lithium cobalt oxide or lithium cobaltate, lithium manganese oxide or spinel or lithium manganate, lithium iron phosphate or lithium nickel manganese cobalt (NMC), lithium nickel cobalt aluminum oxide, sulfur cathodes, sodium cobalt oxide, and others. Lithium manganese oxide is a type of lithium assault that uses manganese as an allure cathode and lithium as an allure anode.

The different battery types include lead-acid, lithium-ion, and others. These are used in portable gadgets, medical devices (cardiac pacemakers, implantable cardiac defibrillators (ICDs), and others), power tools, wireless peripherals or cordless devices, power storage systems, and other applications.

North America was the largest region in the cathode materials market in 2021. Asia Pacific is expected to be the fastest-growing regions in the forecast period. The regions covered in the cathode materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing usage of batteries in electric vehicles is expected to propel the growth of the cathode materials market going forward. Electric vehicles refer to vehicles that are either partially or fully run on electricity. Cathode materials are used in Li-ion batteries in electric vehicles to generate electricity through chemical reactions.

For instance, according to Power-Technology, a US-based journal which provides information on the global energy industry, there was an increase in the sale of electric vehicles by 160% in the first half of 2021, which stood at 2.6 million units. In addition, China remained the world's top EV market, with 1.1 million vehicles sold in the first half of 2021, accounting for 12% of sales. Therefore, increasing usage of electric vehicles is driving the growth of the cathode materials market.

Technological innovations have emerged as the key trend gaining popularity in the cathode materials market. Major companies operating in the cathode materials sector are focused on introducing new technological innovations to sustain their position in the market. For instance, in April 2022, Ascend Elements, a US-based company that produces cathode active materials, launched Hydro-to-Cathode process technology. This technology helps to transform critical elements from recycled lithium-ion batteries into new cathode materials. This is an advanced technology for producing cathode materials by using recycled batteries.

The countries covered in the cathode materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

For more information about this report visit https://www.researchandmarkets.com/r/a25cd7

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