Demand for Lithium

May 09, 2023

Rockville , June 09, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global lithium-ion battery cathode market is estimated to be valued at US$ 47.3 billion in 2023 and is expected to grow at a CAGR of 12.0% during the forecast period of 2023-2033.

Lithium-ion batteries are widely used in various applications, including electric vehicles, portable electronics, and energy storage systems. The cathode is one of the key components of a lithium-ion battery and plays a crucial role in determining its performance and energy storage capacity.

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Nickel Manganese Cobalt Oxide (NMC) and Lithium Iron Phosphate (LFP) are the two most common cathode chemistries in the lithium-ion battery market. LFP provides better safety and longer cycle life and is often used in power tools, energy storage systems, and some electric vehicles.

With the growing popularity of electric vehicles and the need for longer-lasting portable electronics, there is a significant demand for lithium-ion batteries with higher energy densities. This drives research and development efforts toward the development of new cathode materials or modifications to existing ones to enhance energy density while maintaining safety and durability.

Key Takeaways from Market Study

"Meeting the Demands of the Energy Revolution by Advancing Cathode Materials for Higher Energy Density Lithium-Ion Batteries while Ensuring Safety and Longevity" says a Fact.MR analyst.

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Key Companies Profiled in this Report

Market Growth Stratagems

To meet the growing demand for lithium-ion batteries, cathode manufacturers focus on scaling up their production capacity and improving production efficiency. For instance, Panasonic Corporation announced its energy company will establish a production facility at its Wakayama Factory in western Japan to manufacture new, "4680" lithium-ion batteries for electric vehicles in order to expand its business globally.

Commercial vehicle manufacturer Daimler Truck AG and lithium-ion battery manufacturer and developer Contemporary Amperex Technology Co. Limited (CATL) announced that they will deepen their existing partnership based on a shared vision of CO2-neutral electric truck transport. CATL supplies lithium-ion batteries for the Mercedes-Benz eActros LongHaul battery-electric vehicle, which is scheduled to enter series production in 2024. The supply extends beyond 2030.

Segmentation of Lithium-ion Battery Cathode Industry Research report

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the lithium-ion battery cathode market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of cell type (cylindrical cell, prismatic cell, and polymer cell), battery type (nickel manganese cobalt oxide batteries, lithium iron phosphate (LFP), cobalt oxide lithium-ion batteries, lithium titanate oxide (LTO), lithium manganese oxide batteries, and lithium nickel cobalt aluminum oxide batteries), capacity (0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, and 60,000 mAh and above), voltage (low voltage (below 12v), medium voltage (12v – 36v), and high voltage (above 36v), end-use industry (consumer electronics, automotive, aerospace, marine, medical, industrial, power, and telecommunication), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

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