The global Lithium-Ion Battery Cathode Material market is forecast to reach USD 28.28 billion by 2027, according to a new report by Reports and Data. Lithium-Ion Battery Cathode Material are vital components of any general battery which finds various applications in consumer electronics, automotive, aerospace, and power tools among other industries. Owing to the changing trends in the electronics industry, coupled with growing laptop cell phones in the market, the critical application of Lithium-Ion Battery Cathode Material are found to be in smart devices.
The market for Lithium-Ion Battery Cathode Material is influenced by the rising demand for battery electric vehicles in order to minimize carbon dioxide emissions. Strict government regulations against environmental pollution and the increasing price of fossil fuels are passively driving the market growth for Lithium-Ion Battery Cathode Material.
The above-mentioned factors collectively create opportunities for the market growth while factors such as safety issues related to storage and transportation of batteries pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the battery market owing to innovative efforts have enhanced the efficiency of Lithium-Ion Battery Cathode Material.
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The Asia Pacific is a key region for the Lithium-Ion Battery Cathode Material market due to the rising industrialization in emerging economies, such as China, India and Thailand. Presence of established battery manufacturers and facilities in the region are expected to fuel the demand for Lithium-Ion Battery Cathode Material in the region. Furthermore, factors like support from the government, hefty investments by automotive giants on electric vehicle production have made the region one of the leading cathode material consumers.
- Mitsubishi Chemical Holdings
- Johnson Matthey
- Hitachi Chemical
- Toda Kogyo
- Mitsui Mining Smelting
The power and energy industry has significantly grown over the recent past and is expected to rapidly expand in terms of revenue share over the forecast period. Power and energy sector has been playing a crucial role in shaping the world. Over the recent years there has been a rapid increase in the demand for power and energy owing to rapidly industrialization and urbanization across the globe. Factors such as increasing demand for power and energy across various sectors such as information technology, pharma and healthcare, agriculture, commercial sites, residences, transportation and other industrial sectors, and government initiatives and subsidiaries are expected to drive market revenue growth over the forecast period. In addition, growing adoption of green energy, high focus on utilizing renewable resources, and rising investments in research and development activities are expected to fuel market growth going ahead.
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Further key findings from the report suggest
- The lithium-ion battery type held the largest market share of 50.3% in the year 2019. This due to the growing trend for the adoption of electric vehicles where lithium-ion batteries are extensively used to propel the motor.
- Lead dioxide material segment is forecasted to grow with the highest CAGR of 6.8% during the forecast period. The growth is due to the increasing production of two-wheelers, commercial vehicles, and passenger cars, along with growing demand for industrial energy storage systems.
- Consumer electronics segment is forecasted to grow with the highest CAGR of 6.8% during the forecast period. High demand for cell phones, laptops, televisions, and digital cameras from the consumers are fueling the market growth for Lithium-Ion Battery Cathode Material.
- The Asia Pacific region held the largest market share of 58.5% in the year 2019. The market is shifting towards the adaptation of battery propelled vehicles such as BEVs, PHEVs, or HEVs due to carbon dioxide emission regulations and government subsidies. The growing population and the increasing consumer electronics appliances in the region are further driving the market for Lithium-Ion Battery Cathode Material.
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For the purpose of this report, Reports and Data have segmented into the global Lithium-Ion Battery Cathode Material market on the basis of battery type, materials, end-use industries, and region:
Battery Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Lithium-Nickel Manganese Cobalt
- Lead Dioxide
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Consumer Electronics
- Power Tools
- Energy System Storage
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Key Questions Answered in the Report:
What is the growth rate of the Lithium-Ion Battery Cathode Material market? What is the anticipated market valuation of Lithium-Ion Battery Cathode Material industries by 2027?
What are the key growth driving and restraining factors of the Lithium-Ion Battery Cathode Material market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
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