In terms of revenue, the Global Cathode Materials Market is expected to reach USD 69.9 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 15.5% from 2023 to 2030.
Market expansion is projected to be fueled by the expanding energy-conservation programs, including green fuel usage and eco-friendly modes of energy production. A favorable regulatory environment that facilitates tax and financial benefits is also expected to positively impact the market throughout the forecast period. The market will increase significantly due to the burgeoning automobile and transportation sector and rising investment in sustainable energy projects. In addition, consumers' growing preference for lightweight, rechargeable electronic appliances over conventional ones will open up future profitable growth opportunities for the market. Lithium-ion and Nickel-Cobalt batteries are becoming more popular, and are also encouraging product adoption and opening up new commercial prospects for the makers. Additionally, it is anticipated that the increased investment in research and development projects will result in high demand for Cathode Materials. In addition, businesses benefited from the supported government programs in numerous nations.
Key Highlights from the Report
· Among Technology, the Battery Electric Vehicles (BEVs) and the Plug-in Hybrid Vehicles (PHEVs) market segment is anticipated to dominate the Cathode Materials market with the largest market share in the forecast period. Segmental growth is anticipated to be aided by rising benefits, including an increased energy-limiting electrode capacity combined with low driving voltage.
· By Applications, the Automotive and Transportation market segment accounted for the maximum CAGR during the forecast period. This is because aircraft, cars, and ships use Cathode Materials in transportation-related applications.
· In terms of region, Asia-Pacific held the most significant market share in 2021 and is expected to be the most gainful market during the forecast period. This is due to the increasing product accessibility and a higher adoption rate.
Rising awareness among both consumers and manufacturers about the utilization of renewable resources over exhaustible fuels has greatly impacted this market. Favorable regulatory laws put in place by governments across the world and the push to incorporate solar and wind energy-backed projects are expected to have a massive impact on the Cathode Materials Market.
Several multinational automakers are concentrating on incorporating contemporary ideas into their vehicles to differentiate their products from the competition. Customers have decided to select premium amenities in their vehicles due to rising consumer buying power over the past ten years. The use of energy storage systems and rechargeable batteries is one design choice that has flourished in the car sector. In addition to windows, rear-view mirrors, windshields, sun visors, sunroofs, and panoramic view windows, they are used in glass panels for these items. These glass panels help preserve temperature and privacy inside the car and control light transmission inside the vehicle chamber. These characteristics make these items more comfortable for passengers and energy-efficient for vehicles.
Demand has increased as a result of the transport industry's rapid expansion. As a result, the adoption of rechargeable energy storage systems that would have more utility and driver control is being encouraged by automotive makers. They are utilizing certain raw materials, mostly Lithium-Ion and Lead Acid, for this purpose. These Cathode Materials provide the fundamental qualities needed to enhance the automobile’s performance, including quick and uniform reaction, reduction in overall weight, resource uptake management, and long-lasting usage. As a result, the automobile sector is seeing an increase in demand for these Cathode Materials because they have features that increase consumer happiness throughout not only the drive but also automobile businesses in maintaining the energy efficiency of the vehicle.
The Asia-Pacific Cathode Materials market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This can be attributed to the availability of value-added goods like Lithium-Ion batteries and energy storage systems and the implementation of energy-saving laws in the area. The area businesses are introducing products that meet consumer demands.
The Global Cathode Materials Market is Segmented as follows
- Lead Dioxide
- Battery Type
- Other Battery Types
- Consumer Electronics
- Other End-Uses
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Cathode Materials Market is
3M (U.S.), BASF SE (Germany), Hitachi Chemical Co. Ltd. (Japan), Johnson Matthey (U.K.), LG Chem (South Korea), Mitsubishi Chemical Corporation (Japan), Mitsui Mining & Smelting Co. Ltd. (Japan), POSCO (South Korea), Sumitomo Metal Mining Co. Ltd. (Japan), Umicore (Germany)
The Global Cathode Materials Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis