Cathode Materials Market Size, Share, Growth, Trends, and Global Industry Analysis: By Battery Type (Lead Acid and Lithium-ion), By Material (Lead Dioxide, Lithium Manganese Oxide, Lithium Cobalt Oxide, Lithium Iron Phosphate, and Others), By Application (Automotive, Consumer Electronics, Power Tools, Energy Storage, and Others), and Region  

Cathode Materials Market size was valued at US$ 24,282.8 million in 2023 and is expected to grow at a CAGR of 7.1% from 2024-2030. The increasing demand for electric vehicles, the increased use of lithium-ion batteries in energy storage systems, and governmental regulations to increase vehicle fuel efficiency globally are all factors that are contributing to the growth of the global cathode materials market. The market is anticipated to expand at a good rate as a result of the increased use of cathode materials across sectors and expanding investments in the renewable energy sector.

A cathode is an electrode that is negatively charged and permits regular current to exit a polarised electrical device. A positive charge traveling in one direction is what is meant by the term "conventional current." Since they have a negative charge, electrons move against the direction of typical current flow. Cathode current deposits are created when an external circuit sends electrons into a device's cathode (CCD). Examples of cathode materials that are typically used as voltage- or energy-limiting electrodes include lithium manganese oxide, lithium cobalt oxide, lithium nickel cobalt aluminium oxide, lithium iron phosphate, lithium nickel manganese cobalt oxide, oxyhydroxide, lead dioxide, graphite cathode, and sodium iron phosphate.

Consumer goods including power tools, laptop computers, and smartphones contain cathode materials. Electric vehicles, energy storage, power tools, forklifts, telephony, UPS, and transportation are just a few of the industrial uses for lithium-ion batteries that have emerged in recent years. Government subsidies and changes in policy have also contributed to the market expansion for cathode materials during the past few years. Due to an anticipated increase in the consumption of cathode materials to produce batteries for automobile production, the automotive sector is anticipated to contribute the most to the global market for cathode materials in the future. Due to the rising demand for lithium-ion batteries across a variety of worldwide industries, lithium-ion cathode material is anticipated to make the largest contribution to the market for cathode materials overall.  However over the period, cathode materials market growth is anticipated to be constrained by stringent government safety rules for batteries during production, transportation, and storage.  

Cathode Materials Market Key Developments

• In April 2022, POSCO Chemical announced the establishment of a new manufacturing plant with 30000 tons of production capacity of high-purity nickel cathode.
• In August 2021, Ningbo Shanshan Co. announced their joint venture with BASF SE.
• In Aug 2022 - RecycLiCo Battery Materials Advances to Lithium Recovery Stage of Demonstration Plant Project.