Cathode Materials Market 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 by Geography


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Cathode Materials Market size was valued at USD 24,234.8 million in 2022 and is expected to grow at a CAGR of 6.9% from 2023-2029. 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 travelling 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, the lithium-ion cathode material is anticipated to make the largest contribution to the market for cathode materials overall. But 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.


Cathode Materials Market Summary

Study Period


Base Year




Largest Market

North America

Fastest Growing Market

Asia Pacific
Cathode Materials Market Dynamics

The cathode materials market is expected to grow over the forecasted period due to the increasing demand for lithium-ion batteries in the renewable energy industry for storage energy which is eventually expected to increase the demand for cathode materials. In addition, lithium-ion batteries are used in plug-in cars. In addition, the increasing demand for electric vehicles is expected to drive the demand for lithium-ion batteries. Furthermore, the increasing demand for renewable energy is expected to propel the market growth of cathode materials over the forecasted years.

Key Features of the Reports

  • The  cathode materials market report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
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  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
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  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
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  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
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  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
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Cathode Materials Market Segmentation

By Battery Type
  • Lead Acid
  • Lithium-ion
By Application
  • Automotive
  • Consumer Electronics
  • Power Tools
  • Energy Storage
  • Others
By Material
  • Lead Dioxide
  • Lithium Manganese Oxide
  • Lithium Cobalt Oxide
  • Lithium Iron Phosphate
  • Others
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

Oct 11, 2022 - Freyr & Aleees sign agreement for LFP cathode materials

The cathode materials market size is poised to grow at a significant CAGR of 6.4% over 2022–2028.

The cathode materials market size is valued at USD 15.8 billion in 2021.

The lead-acid segment holds the highest market share.

  • Mitsubishi Chemical Corporation
  • 3M
  • Umicore
  • Hitachi Chemical Co., Ltd
  • Johnson Matthey
  • Mitsui Mining & Smelting Co., Ltd
  • Sumitomo Metal Mining Co. Ltd
  • Kureha Corporation