According to Fortune Business Insights the global cathode materials market size was valued at USD 38.47 billion in 2024. The market is projected to grow from USD 44.78 billion in 2025 to USD 135.73 billion by 2032 at a CAGR of 17.2% during the forecast period. The report is compiled by Fortune Business Insights with an intent of presenting a 360-degree overview of the global cathode materials market. The analysis reveals key growth strategies adopted by the leading players, and their impact on the overall market. Besides gauging investment feasibility across various regions, the report segments the global cathode materials market in terms of various criteria.
The cathode in a battery is composed of cathode materials that function as effective oxidizing agents. Common materials used in cathodes include metallic oxides such as copper oxide, lithium oxide, and graphite oxide. Lithium manganese oxide (LMO) is widely used in lithium-ion batteries, while polyanionic compounds serve as electrode materials in sodium-ion batteries due to their high stability, enhanced safety, and appropriate operating voltages.
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Cathode Materials Market Segmentation Analysis:
By Battery Type:
The market is segmented into lithium-ion batteries (including LFP, NMC, NCA, and others), lead-acid batteries, and others. In 2024, lithium-ion batteries dominated the market due to their high energy density and widespread use in electric vehicles (EVs). The rising adoption of EVs is expected to drive further growth of this segment, as cathode materials play a key role in determining battery performance.
By End Use:
The automotive segment led the market in 2024, driven by the growing shift toward EVs and supportive government initiatives like India’s FAME II scheme. Consumer electronics is another key segment, fueled by rising demand for smartphones and compact devices. Advancements in battery technology and the critical role of cathode materials in improving battery life and performance are boosting demand in this segment.
List of the Key Players in the Water Purifier Market:
- LG Chem (South Korea)
- NEI Corporation (U.S.)
- Nippon Denko Co., Ltd. (Japan)
- POSCO (South Korea)
- Shanshan Co (China)
- Shenzhen Dynanonic Co., Ltd. (China)
- Sumitomo Metal Mining Co., Ltd. (Japan)
- Targray (Canada)
- Umicore (Belgium)
- Zhejiang Huayou Cobalt (China)
What are the New Additions in Water Purifier Market Report?
Comprehensive Market Analysis: The 2023 report provides a detailed industry overview, analyzing key market trends, growth drivers, challenges, and opportunities. It covers various sectors within the industry and offers insights into market size, market share, and market segmentation.
Company Profiles: The report includes additional in-depth information on key company players operating in the industry. It offers detailed profiles of these companies, highlighting their financial performance, product portfolios, strategic initiatives, partnerships, and competitive landscape analysis.
Customization and Analyst Support: The report offers customized services and analyst support upon request. This may include tailored research, specific data requirements, or personalized insights based on the client's needs and preferences.
Recent Market Developments: The report incorporates the latest market developments that have occurred since the previous edition. It includes recent mergers and acquisitions, product launches, collaborations, regulatory changes, and other significant events shaping the industry landscape.
Futuristic Growth Opportunities: The report identifies and presents future growth opportunities in the industry. It explores emerging technologies, market trends, consumer preferences, and regulatory factors that are expected to drive growth and innovation in the coming years.
Competitors Landscape:
The realm of Water Purifier Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
Key Industry Developments:
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July 2024: LOHUM, India’s sole producer of Nickel Manganese Cobalt (NMC)-based cathode active materials, announced plans to expand its recycling capacity from 5 GWh to 30 GWh over the next three years.
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December 2023: Himadri Specialty Chemical revealed plans to set up a lithium iron phosphate (LFP) manufacturing facility in India in multiple phases over the next 5–6 years. The project, estimated at USD 130.4 million, will begin with Phase 1, targeting a production capacity of 40 kilotons.
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