Global Cathode Materials Market: Overview
Cathode materials are key elements that determine the differences in composition while building positive electrodes for battery cells. These materials include manganese, nickel, and cobalt in the crystal forming a multi-metal oxide material to which lithium is added. These batteries include products that cater to different users who require high energy density and/or high load capacity. Modern cathode materials for lithium ion batteries are generally prepared in the lithilated state in order to be able to paired with delithiated anodes, such as graphite. Materials that are stable at room temperature and are easy to handle are generally chosen for cathode materials. The requirement for high specific capacity generally restricts choices of compounds to first-row transition metals usually Magnesium, Iron, Cobalt, and Nickel. Environmental and toxicity concerns have precluded the development of most V or Cr-containing materials, although electroactive compounds containing these metals exist. Cathodes can be categories into metal oxides and polyanionic compounds. The cathode materials market is anticipated to expand at a rapid pace during the forecast period owing to the growth of end-user industries.
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Global Cathode Materials Market: Key Segments
Based on battery type, the cathode materials market can be segmented into lithium-ion, lead acid, and others. The lead-acid battery segment dominates the market. This can be attributed to the increase in usage of lead-acid batteries in automotive industry. The automotive industry has been expanding at a rapid pace in the last few years. This trend is likely to continue during the forecast period. Sales of automotive, especially passenger cars, have been increasing at a rapid pace due to the expansion of the automotive industry in Asia Pacific. The lead-acid battery segment is anticipated to continue to dominate the market during the forecast period. The segment is likely to expand at a significant pace during the forecast period.
In terms of material type, the cathode materials market can be divided into lithium-ion, lead-acid, and others. Others includes oxyhydroxide, sodium iron phosphate and graphite cathode. The lithium-ion segment can be sub-segmented into lithium iron phosphate, lithium cobalt oxide, lithium nickel cobalt aluminum oxide, lithium manganese oxide, and lithium nickel manganese cobalt oxide. Lead-dioxide is a cathode material which is used in lead acid batteries. Currently, the lead-dioxide segment holds a major share of the market. This trend is anticipated to continue during the forecast period due to rapid increase in year-over-year sales of automobiles.
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Global Cathode Materials Market: Regional Analysis
Based on region, the global cathode materials market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the global cathode materials market during the forecast period owing to the expansion of end-user industries in the region. Automotive and consumer goods industries in the region have been expanding at a significant pace in the last few years. Automotive and consumer goods are major end-user industries of batteries. This trend is estimated to continue during the forecast period due to economic development in countries such as China and India in the region. Rise in disposable income of people in these countries in the last few years has increased the sales of automobiles and consumer goods. This, in turn, is projected to drive the cathode materials market during the forecast period.
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Global Cathode Materials Market: Key Players
Key players operating in the global the cathode materials market include Johnson Matthey, Hitachi Chemical, Kureha, Mitsubishi Chemical Holdings, POSCO, Sumitomo, 3M, Toda Kogyo, Mitsui Mining & Smelting, and Umicore.
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