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Lithium Nickel Manganese Cobalt Oxide (NMC): Introduction

  • Innovations of electric vehicles (EV) have been boosting interest globally, as the importance of CO2 emission reduction is being scrutinized by the Environmental Protection Agency (EPA). Currently, the world is progressing toward building a society where technology is green, eco-friendly, and sustainable.
  • Demand for EVs is expected to increase significantly in the near future. EVs are anticipated to overshadow internal combustion engine (ICE) vehicles. A new set of lithium-ion batteries are being made specifically to tailor to performance requirements for high power output in EVs.
  • Advancements in battery technology and electrification of automobiles have contributed to the changing technological landscape in the automobile industry. Lithium Nickel Manganese Cobalt Oxide (NMC) is widely used in lithium-ion batteries. NMC is used as the cathode, while graphite is used as the anode. The specific energy density of NMC is 150–220 Wh/kg, with thermal runaway being 210°C (410°F). High cost and toxic nature of cobalt is leading battery manufacturers to move toward higher nickel content in cathodes.
  • Battery made up of NMC generally has a longer cycle life, more stability, and higher energy density than lithium cobalt oxide (LCO) and lithium iron phosphate (LFP) batteries. The cost of energy is also lower due its ability to cycle with more stability than NCA battery. The battery has a high cycle life suitable for off-grid and very unstable grids, with commercial products featuring a 60% state of charge (SOC) greater than 6,000 cycles at 90% depth of discharge (DOD).

Key Drivers and Restraints of Global Lithium Nickel Manganese Cobalt Oxide (NMC) Market

  • Expansion of the EVs market has fueled the demand for NMC. Original equipment manufacturers (OEMs) are investing in the development of EV technology in the automotive industry. Improved usage of NMC batteries in EVs, grid storage, and portable consumer electronics systems due to its high safety level with high energy density is projected to drive the market in the near future.
  • Technological advancements to decrease the weight and cost of the battery and increase power output and efficiency are also estimated to propel the market. Efficient distribution channels are likely to be an essential method for players to attain a competitive advantage.

Lithium Nickel Manganese Cobalt Oxide (NMC): End-use Segment

  • In terms of end-use, the global NMC market can be segmented into automotive, consumer electronics, energy storage system, industrial, and others
  • The automotive segment is expected to account for significant share of the global NMC market during the forecast period. It is anticipated to be followed by the consumer electronics segment.
  • The industrial segment is likely to expand at a rapid pace during the forecast period

Covid-19 Impact on Lithium Nickel Manganese Cobalt Oxide (NMC) Market

  • After the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency, manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc.
  • NMC plays an important role in various applications in automotive, consumer electronics, energy storage, and others. The COVID-19 pandemic has compelled many production facilities of these end-user industries to come to a standstill. This has adversely affected the demand for NMC in these facilities. In turn, this is expected to hamper the NMC market to some extent.

Asia Pacific to Dominate Lithium Nickel Manganese Cobalt Oxide (NMC) Market

  • In terms of region, the global NMC market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is anticipated to account for significant share of the global NMC market in the near future. Rise in demand for EVs in Asia Pacific, particularly in China and India, is anticipated to drive the NMC market in the region. Expansion of the automotive industry in Asia Pacific is also likely to boost the NMC market in the region.

Key Manufacturers Operating in Global Lithium Nickel Manganese Cobalt Oxide (NMC) Market

The global NMC market was highly fragmented in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global NMC market include:

  • LG Chem
  • GS Yuasa International Ltd.
  • BYD Company Ltd.
  • A123 Systems LLC
  • Hitachi Chemical Co., Ltd.
  • Shenzhen Huayu New Energy Technology Co., Ltd.
  • Johnson Controls
  • NEC Corporation
  • Panasonic Corporation
  • Samsung SDI Co., Ltd.
  • Toshiba Corporation
  • Saft
  • Sony Corporation
  • Narada Power Source Co., Ltd.
  • Contemporary Amperex Technology Co.

Global Lithium Nickel Manganese Cobalt Oxide (NMC) Market: Research Scope

Global Lithium Nickel Manganese Cobalt Oxide (NMC) Market, by End-use

  • Automotive
  • Consumer Electronics
  • Energy Storage System
  • Industrial
  • Others

Global Lithium Nickel Manganese Cobalt Oxide (NMC) Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • 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 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
  • Europe
  • 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.

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Lithium Nickel Manganese Cobalt Oxide Nmc Market

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