Lithium-ion Battery Cathode Market Size, Share & Trends Analysis Report By Chemical Composition (Cobalt, Manganese, Phosphate, Nickel Cobalt Manganese, Lithium Iron Phosphate), By Cell Type, By End-use, By Region, And Segment Forecast, 2023 - 2030

Lithium-ion Battery Cathode Market Growth & Trends

The global lithium-ion battery cathode market size is expected to reach USD 89.35 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.9% from 2023 to 2030.

Increasing adoption of portable electronics and electric vehicles which uses rechargeable batteries as power source is one of the major factors driving the market growth.The battery technology is developing continuously to meet the power density and performance requirements of devices.

The worldwide registration of electric vehicles is anticipated to increase significantly over the forecast period. Also, rising availability of charging outlets and financial incentives have emerged as crucial factors for the development of lithium-ion cathode market, bolstered by the lower running cost of EVs compared to conventional ICE-operated vehicles.

Technological advancements and increasing demand for lithium-ion batteries from emerging countries as a result of rising electricity demand are likely to support market expansion. Increased emphasis on green technology by international organizations and governmental bodies will fuel production of lithium-ion batteries, providing a growth opportunity for lithium-ion battery cathode industry players like Umicore SA, Suimoto Chemicals, LG Chem, Samsung SDI, Targray Technology international, Inc. NEI Corporation, POSCO Chemicals and etc.

Lithium-ion Battery Cathode Market Report Highlights

• In terms of revenue, the cobalt segment of accounted for a significant share in the market in 2022 and is further expected to witness steady growth over the forecast period.
• North America region is projected to grow at a substantial rate of 20.5% throughout the forecast period.
• Cylindrical in cell type segment accounted for largest share of 43.51% in 2022.
• In 2022, consumer electronics in the end-use segment is emerged as the largest segment with a share of39.58%.
• U.S. is likely to display a substantial growth rate during the projected period.

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