The cathode materials market is projected to grow at a CAGR of 6.2% from 2018 to 2023
LONDON, June 4, 2018 /PRNewswire/ -- The cathode materials market is projected to grow at a CAGR of 6.2% from 2018 to 2023.
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The cathode materials market is projected to grow from USD 16.43 billion in 2018 to USD 22.17 billion by 2023, at a CAGR of 6.2% between 2018 and 2023. The market's growth is propelled by the increase in demand for EVs, strict government mandates on fuel economy, and growing demand for smart devices and other consumer electronics. Reduction in the price of Li-ion batteries has also encouraged automobile manufacturers to invest more in EVs. However, stringent environmental regulations are expected to restrain the growth of the cathode materials market during the forecast period.
The lithium-ion segment is projected to be the fastest-growing battery type segment of the cathode materials market during the forecast period.
The lithium-ion segment is expected to be the fastest-growing battery type segment of the cathode materials market during the forecast period.Automobile manufacturers have started focusing on EVs, as several countries have taken initiatives toward having a greener environment and lowering CO2 emissions.
The growing use of EVs and portable electronic devices is likely to drive the lithium-ion cathode materials market during the forecast period.
Rising demand from Asia Pacific is expected to drive the cathode materials market.
The cathode materials market is expected to witness the highest growth in the Asia Pacific region during the forecast period.The demand for cathode materials in Asia Pacific is majorly driven by China.
Heavy investments in automotive, electronics, and ESS drive the cathode materials market in China. Government support, strong manufacturing base, and growing investment by automotive giants on electric vehicle production have made the country one of the leading cathode material industries across the globe.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted. The break-up of the primary interviews is given below:
• By Company Type: Tier 1 – 32%, Tier 2 – 43%, and Tier 3 – 25%
• By Designation: C-level – 45%, Director-level – 35%, and Others* – 20%
• By Region: North America – 35%, Europe – 40%, APAC – 20%, RoW – 5%
*Others include sales, marketing, and product managers.
Note 1: The tiers of the companies are defined based on their total revenues, as of 2016; Tier 1 = >USD 100 million, Tier 2 = USD 50 to 100 million, and Tier 3 =
Note 2: RoW includes Brazil and rest of RoW, such as Argentina, the UAE, Turkey, South Africa, and Tunisia.
Some of the key companies profiled in this market research report include Umicore (Belgium), 3M (US), Mitsubishi Chemical Holdings (Japan), POSCO (South Korea), Johnson Matthey (UK), Hitachi Chemical (Japan), Kureha (Japan), Sumitomo (Japan), Toda Kogyo (Japan), and Mitsui Mining & Smelting (Japan).
Research Coverage:
The report aims at estimating the market size and the potential of the cathode materials market across different battery types, materials, and regions. The report also includes an in-depth competitive analysis of key market players, along with their profiles, recent developments, and key market strategies.
Reasons to buy the Report
The report will help market leaders/new entrants by providing them closest approximations of revenues in the cathode materials market.This report will also help stakeholders better understand the market's competitive landscape, and gain insights to position their businesses and formulate market strategies.
The report will also help stakeholders understand the pulse of the market and acquire information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on cathode materials offered by top market players
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the cathode materials market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for cathode materials across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cathode materials market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the cathode materials market
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