Cathode materials comprise cobalt, nickel and manganese in the crystal structure forming a multi-metal oxide material to which lithium is added and the key elements that determine the differences in composition while building positive electrodes for battery cells. According to BlueQuark Research and Consulting, the global Cathode Battery Materials​ market is expected to grow considerably during the forecasted period. Factors such as the increasing usage of cathode material in commercial vehicle batteries in the automotive sector are expected to drive the Cathode Battery Materials market in the forecasted periods. Further, demand for Cathode Materials is growing due to increasing demand for advanced batteries are expected to drive the Cathode Battery Materials market in the predicted periods. Furthermore, the rising usage of batteries in customer electronic products, increasing utilization of energy storage applications, and the rising use of rechargeable & lightweight batteries in devices such as smartphones and laptops are expected to propel the Cathode Battery Materials market growth during the forecasted period. However, the cathode battery materials are hampered due to safety issues related to the storage and transportation of batteries. In addition, government regulations, laws & safety issues related to cathode materials are expected to be the major challenge for the cathode battery materials market in the forecasted period.

The automotive industry is considered the highest market by end-use during the forecast period. Due to the increasing environmental concerns related to the pollution produced by internal combustion engines, there is considerable growth in the need for electric vehicles. Electric vehicles utilize batteries as a source of power. Thus, increasing electric vehicle demand will enhance the cathode materials market. The significant increase in demand for Li-ion batteries in several industries, including electronics and automotive, is driving up the need for cathode materials. A growing number of environmentally friendly policies worldwide are increasing demand for electric vehicles (EVs), which require organized energy storage systems, fueling growth in the Cathode Materials Market. The need for Lithium-Ion batteries to power electric vehicles and energy storage has increased exponentially, rising from 0.5 gigatonne-hours in 2010 to around 526 gigatonne-hours a decade later. Automotive lithium-ion batteries are a source of power for electric vehicles. The extensive use of lithium-ion batteries in electric vehicles and their application in plug-in hybrid electric vehicles has inevitably elevated their adoption, which is expected to increase further. The growing adoption of electric vehicles among consumers has helped boost the market for this energy-saving, pollution-reducing vehicles. The several numbers of electric vehicles are constantly increasing due to advantages aligned with them, namely, less demand to maintain the vehicle engine, reduced use of hazardous oil waste, and reduction in pollution caused by fuel combustion engines, along with the development of improved battery technologies. Electric vehicles are predicted as the future of the automobile industry and transportation systems, and their increased adoption will eventually raise the demand for lithium-ion car battery cathodes over the forecasted periods. An increasing number of strengthened rules for phasing for internal combustion engines and rising incentives and subsidies for EV adoption are further expected to widen the automotive segment growth.

North America is predicted to grow with the fastest growing CAGR during the forecasted period owing to quick technological advancements in the field of automotive combined with rising investments in manufacturing consumer electronics. The U.S. will account for most of the North American market share owing to the presence of numerous electric vehicle manufacturers. Further, the adoption of renewable energy-based battery storage systems by various countries to overcome cost and carbon emission issues from fuel energy, demand for industrial energy storage systems and increasing investments by governments in the automotive industry are also expected to drive the growth of the cathode battery materials market. Lithium-ion batteries are expected to lead the global Cathode Materials market in revenue and share during the forecast period. Factors such as the growth of the segmental value can be attributed to surging demand for LFP and NMC lithium-ion batteries (chemistry type) within plug-in vehicles. Additionally, the growing adoption of lithium-ion batteries within renewable energy storage devices is expected to increase the footprint further. Lithium-ion batteries are heavily utilized in the automotive and telecommunication industries. Despite introducing technologically advanced features in modern electronic products, battery life has remained a perennial problem for consumer electronics brands. In addition, high power and energy density have become crucial criteria for reliable and safe batteries in modern consumer electronics and smart devices. The market witnessed exponential growth with a significant rise in demand across the consumer electronics sector, as electronic device manufacturers are using li-ion batteries to introduce devices with a longer lifespan. The market is expanding due to the government's increasing investments in the automotive sector and the widespread use of lead-acid batteries in emergency lighting, railway backup systems, backup power, renewable energy systems, and security systems. Another driving factor in the segment is that lead-acid batteries generate recyclable and renewable energy while lowering CO2 emissions. Furthermore, growing projects and aggressive investments by countries like China and India in renewable energy are expected to drive the cathode material market in the region.

The market players are Ascend Elements Inc, BASF SE, Johnson Matthey plc, LG Chem Ltd., and Mitsubishi Chemical Corporation.

In April 2022, POSCO Chemicals announced they began constructing their new manufacturing plant capable of producing 30,000 tons of high-purity nickel cathodes. This is predicted to help the company to expand its consumer base in the Cathode Materials market.

In May 2022, Umicore inaugurated its new global R&D centre for Cathode Materials in Cheonan, Korea. It will focus on producing the next generation of battery materials, including very high-nickel NMC, low-cobalt NMC, manganese-rich chemistries, and solid-state battery technologies.

Global Cathode Battery Materials Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Cathode Battery Materials Market by segmenting based on Battery Type (Lead-Acid, Lithium-ion), Material (Lead-Acid (Lead Dioxide), Lithium-ion (LFP, LCO, NMC, NCA, LMO)) End-use Industry (Automotive, Consumer Electronics, Industrial, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth in detail. The study covers emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.