The cathode materials market is witnessing a decent growth in recent years and anticipated to register the good growth during the forecast years. The growth is majorly driven by the increasing demand for batteries in electric vehicles and various other consumer electronics.

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The increasing penetration of electric vehicles, growing demand for consumer electronics, and the growing investment in renewable energy storage are the major factors driving the cathode materials market growth. In government and authorities of various countries in North America, Europe, and few Asian countries have started providing subsidiaries to the electric vehicle manufacturers, in order the promote the use of electric vehicles to protect the environment from emission.

Asia-Pacific cathode materials market is expected to account for the largest share in the market. The major growth drivers are the increasing demand for battery energy systems and increasing consumers of batteries in automobiles, industrial, and portable devices in the developing Asian countries.

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The competitive landscape for cathode materials market is marked by the presence of established large players and small scale players.

Some of the key players operating in the global cathode materials industry are Advanced Lithium Electrochemistry Co., Ltd., BASF SE, Targray, NEI Corporation, 3M Company, Mitsubishi Chemical Holdings, Hitachi Chemical, Sumitomo Corporation, Hunan Shanshan New Material Co., Ltd., Hunan Reshine New Material Co Ltd Ltd., Pulead Technology Industry Co., and Umicore.

Source: VynZ Research