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:
- Tianjin B&M
- ShanShan Co.
- Hunan Rui Xiang New Material
Global Lithium Cobalt Oxide Market: Research Scope
Global Lithium Cobalt Oxide Market, by Application
Global Lithium Cobalt Oxide Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.