Lithium Cobalt Oxide Market: Introduction

  • Lithium cobalt oxide, also called lithium cobaltate or lithium cobaltite, is a dark blue or bluish-gray crystalline solid. It is commonly used in the positive electrodes of lithium-ion batteries. The compound is now being used as cathode in some rechargeable lithium-ion batteries.

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Key Drivers of Global Lithium Cobalt Oxide Market

  • The global lithium cobalt oxide market is expected to expand significantly due to an increase in demand for lithium cobalt oxide in battery applications
  • Li-cobalt is used in mobile phones, laptops, and digital cameras owing to high specific energy of lithium cobalt oxide. Batteries consist of cobalt oxide cathode and graphite carbon anode.
  • Increase in demand for lithium-ion batteries in various applications such as mobiles and computers is expected to drive the lithium cobalt oxide market during the forecast period

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Battery Application Segment to Dominate Global Market

  • In terms of application, the battery segment accounted for major share of the market in 2019. Currently, the most popular lithium-ion technology in battery is the lithium-cobalt oxide (LCO) battery, which has a cathode composed of LiCoO2.
  • The main feature of the LCO battery is high energy density, which translates into a long run-time for portable devices such as cell phones, tablets, laptops, and cameras. The cathode material contains 60% cobalt and accounts for 50% of the weight of the cathode.

Asia Pacific to Hold Significant Share of Global Lithium Cobalt Oxide Market

  • In terms of region, the global lithium cobalt oxide market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is a major consumer of lithium cobalt oxide across the globe. China and India possess significant potential for many application areas of lithium cobalt oxide. Being a major manufacturing hub for electronic products, China holds immense potential for the growth of the lithium cobalt oxide market. Increase in production of lithium-ion batteries in smart phones and electric vehicles is driving the lithium cobalt oxide market in China.
  • Europe accounted for key share of the global market in 2019. Key associations in Europe, such as the Association of European Automotive Industrial Battery Manufacturers and PRBA, are promoting the usage of lithium-ion batteries in different applications. This, in turn, is likely to boost the demand for lithium cobalt oxide in the near future.
  • Significant investment in R&D of battery production, presence of a well-established automotive sector, high production of electric vehicles, and investments by governments to increase battery production in North America and Europe are key factors driving the lithium cobalt oxide market in these regions
  • Significant expansion of the battery sector in Germany, France, Italy, South Korea, Japan, India, and China is projected to boost the demand for lithium cobalt oxide in these countries in the near future

Key Players Operating in Global Market

High initial capital investments are estimated to hamper the entry of new players in the market. The lithium cobalt oxide market is driven by mergers and acquisitions. Key players operating in the global lithium cobalt oxide market include:

  • L&F
  • Tianjin B&M
  • ShanShan Co.
  • Hunan Rui Xiang New Material

Global Lithium Cobalt Oxide Market: Research Scope

Global Lithium Cobalt Oxide Market, by Application

  • Battery
  • Others

Global Lithium Cobalt Oxide Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Lithium Cobalt Oxide Market