Cathode Materials Market

Cathode Materials Market - An Overview

The global cathode materials market is expected to witness strong growth during the forecast period between 2021 and 2031.

A few cathode materials used in the manufacturing of cathodes are lithium-ion phosphate, lithium cobalt oxide, lead dioxide, and lithium nickel manganese cobalt.

The COVID-19 pandemic adversely affected the global cathode materials market. With governments imposing lockdowns and stringent social distancing regulations, battery production facilities were forced to close down temporarily or permanently.

This led to a reduction in demand for cathode materials, used to produce the cathode part of batteries and, in turn, negatively impacted the overall cathode materials market.

However, with the subsequent decline in cases and the availability of vaccines, the demand for cathode materials in cathode production of batteries has witnessed a rise, which has helped in the growth of the overall cathode materials market.

Cathode Materials Market - Trends and Opportunities

Rising demand for electric vehicles in different parts of the world in the last few years is the key growth driver for the global cathode materials market.

In addition to this, government subsidies and policy changes have also helped in the growth of the cathode materials market, in the last few years.

The automotive industry is expected to make the largest contribution to the overall cathode materials market in future, owing to an expected rise in consumption of cathode materials to manufacture batteries for automobile production.

The lithium-ion cathode material is expected to contribute the most to the overall cathode materials market, owing to increased demand for lithium-ion batteries in different industries, globally.

Cathode Materials Market - Competitive Landscape

The global cathode materials market is highly competitive, with the presence of many well-known players. It is anticipated that many leading players will account for a large share in the global cathode materials market, in the years ahead.

Prominent players in the cathode materials market could collaborate with the lesser-known players in a bid to expand their market presence and improve their revenue share.

Research and development undertakings to produce improved quality of cathode materials could emerge as a key growth strategy for the cathode materials market players, in future.

Some of the leading players in the global cathode materials market include 3M, Mitsubishi Chemical Corporation, Mitsui Mining and Smelting Co. Ltd., BASF, Sumitomo, and Showa Denko.

Cathode Materials Market - Regional Assessment

The global cathode materials market is divided into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

North America is expected to be the leader in the global cathode materials market in the coming years. Large-scale installations of solar and wind power systems in countries such as the U.S and Canada is anticipated to be the key growth driver for the global cathode materials market, in the region.

Europe is expected to stand second in the global cathode materials market, owing to subsidies offered by governments in countries such as UK and Germany for electric vehicle manufacturing. The reduced prices is expected to help increase the demand for cathodes in EV batteries, which, in turn, could bolster the overall cathode materials market.

Asia Pacific is anticipated to stand third in the global cathode materials market, owing to an expected increase in demand for batteries among consumers in countries such as India and Japan.

Leading players in the cathode materials market could look to establish research and development centers in Asia Pacific countries, owing to the ease in availability of essential commodities such as land in countries such as India.

Other regions such as Middle East and Africa and Latin America are expected to witness moderate growth in the cathode materials market, in the years ahead.