As per the current market trends and the promising nature of the global lithium-ion battery cathode market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, FACT.MR would be publishing a resourceful analysis that will enclose knowledge about the global lithium-ion battery cathode market growth, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during 2019-2029, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.
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Lithium-ion battery cathode market recorded a CAGR of ~9% between 2014 and 2018. Global sales of lithium-ion battery cathode were estimated at ~235,000 tons in 2018, and are likely to register a CAGR of ~13%between 2019 and 2029. East Asia will maintain its lead in the lithium-ion battery cathode market, upheld by the perpetual rise in the production of electric vehicles. South Asia is anticipated to remain the high-growth market for lithium-ion battery cathode, as ample opportunities have been created for the automotive industry, from the spread of urban sprawl.
The lithium-ion battery cathode market operates amid a high degree of consolidation with only a handful of players operating in the top tier. The leading players accounting for ~50% of the total lithium-ion battery cathode market shares, include Umicore SA, BASF SE, and Sumitomo Chemicals. Leading players operating in the lithium-ion battery cathode market continue to exploit strategic merger and acquisition activities to broaden their exposure in overseas territories. While these players continue to strenuously focus on expansion of their production capacities, new investments will remain of paramount importance for them. For instance, in November 2018, BASF SE declared its plans to refocus efforts on the manufacturing of NMC cathode material that comprises 70% manganese, 20% nickel, and less than5% cobalt.
Currently lenient in some parts of the world, emission laws are likely to turn stringent with an emphasis on environmental sustainability, which will potentially manhandle the adoption of lithium-ion battery cathode to a higher rate. For regional players in the market, this will be the key differentiating factor for a competitive edge.
On the other side, regional players continue to struggle with the development of lithium-ion battery cathodes within the permissible limits of regulatory norms. For example, 3M augmented its investments in Nanoscale components for improving lithium-ion batteries. With the upsurge in the demand for these batteries in Asia Pacific’s consumer goods and automotive sector, investments in this region are likely to translate into greater ROI.
Key Challenges Besetting the Growth of Lithium-ion Battery Cathode Market
- Low competency in terms of excessive heat tolerance will remain the key restraint paling the high popularity of lithium-ion battery cathode, which incites manufacturers to foster innovation in the landscape and move the quality gradient of the lithium-ion battery cathodes to higher scales. Manufacturers of Li-sulfur batteries, however, are likely to claim a share in sales, solely closed by lithium-ion batteries, in light of their lighter weight, lower costs, and capability to store twofold energy, when compared to Li-ion batteries.
- The production of lithium-ion battery cathodes relies on a streamlined supply of raw minerals and processed functional materials. However, the depletion of mineral reserves in countries, such as India, Philippines, Vietnam, Mexico, Argentina, and Indonesia, is likely to deter the growth of the lithium-ion battery cathode market.
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Cylindrical cell, used in the lithium-ion battery cathodes, are likely to remain the preferred cell type over its equivalents, as they radiate heat and thus have better control over temperature. Cylindrical cells have tightly-wounded metal-encased electrodes, which control the tattering of electrode material due to mechanical vibrations, making them suitable for lithium-ion battery cathode. However, polymer cells retain their charge even while aging, which makes them suitable for long-term use. In addition, they weigh lesser than their equivalents, which marks them ideal for integration in a majority of bestselling consumer electronics.
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