MArketsandMarkets’ report "Cathode Materials Market by Battery Type (Lead-Acid, Lithium-ion), Material (Lithium-Ion (LFP, LCO, NMC, NCA, LMO), Lead-Acid (Lead Dioxide)), and Region (Asia Pacific, North America, Europe, and Row) - Global Forecast to 2023", claims the market is projected to grow from $16.43 Billion in 2018 to $22.17 Billion by 2023, at a CAGR of 6.2% between 2018 and 2023. The rising availability of electricity and connectivity around the world has considerably increased the average person's dependency on technology. Essentially, the growing demand for consumer electronics, including demand for thinner and sleeker devices, and continuous developments in these devices have resulted in the increased consumption of batteries, thus increasing the demand for cathode materials.
The lead-acid segment is projected to lead the Cathode Materials Market during the forecast period.
Based on material, the lead dioxide segment is estimated to be the largest material segment during the forecast period.
Asia Pacific is expected to lead the Cathode Materials Market during the forecast period.
Some of the key companies in the Cathode Materials Market 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).
Know more, browse the "Cathode Materials Market" report.