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.
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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