Austin, June 16, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Cathode Materials Market Size was valued at USD 33.24 billion in 2024 and is expected to reach USD 101.15 billion by 2032, growing at a CAGR of 14.93% over the forecast period of 2025-2032.”
Surging Battery Advancements and Clean Energy Goals Powering Demand for Efficient Cathode Materials Across Global Industrial and Automotive Sectors
The Cathode Materials Market is expanding rapidly due to rising electric vehicle usage, renewable energy projects, and evolving battery technologies. Environmental mandates and U.S. government incentives, like the Inflation Reduction Act, have boosted domestic production. According to the U.S. DOE, lithium-ion battery demand may rise 30% annually by 2030. Industry leaders like Tesla and Panasonic are scaling production, while innovations in nickel-rich and cobalt-free cathodes further drive adoption across key applications in energy storage, mobility, and electronics.
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The U.S. Cathode Materials market is worth USD 10.88 billion in 2024, and with a market share of 78.5%.
The US Cathode Materials market is expanding due to strong government backing for clean energy and electric vehicles, with initiatives like the DOE’s Battery500 program encouraging innovation. US manufacturers such as Livent and 3M are increasing cathode material production to meet growing EV and energy storage demand, supported by a shift towards nickel-rich cathodes to enhance battery capacity and lifespan.
Key Players:
- BASF SE
- Umicore
- Sumitomo Metal Mining Co., Ltd.
- POSCO Holdings Inc. (via POSCO Future M)
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- Nichia Corporation
- Shenzhen Dynanonic Co., Ltd.
- Ningbo Shanshan Co., Ltd.
- Zhejiang Huayou Cobalt Co., Ltd.
Cathode Materials Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 33.24 billion |
| Market Size by 2032 | USD 101.15 billion |
| CAGR | CAGR of 14.93% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Government Initiatives and Policies Stimulate Cathode Materials Market Share Expansion. • Expansion of Domestic Battery Supply Chains Enhances Cathode Materials Market Growth. |
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By Material, Lithium Iron Phosphate (LFP) dominated the Cathode Materials Market in 2024 with a 35.8% Market Share.
The dominance is due to its enhanced safety profile, lower cost, and longer lifecycle compared to other cathode chemistries. Its widespread adoption in electric buses, commercial EVs, and stationary energy storage systems has accelerated demand. Companies like BYD and CATL have pioneered LFP battery technologies, supporting growth in public transportation and grid storage markets. Moreover, LFP’s stable performance in diverse temperature conditions makes it suitable for various geographic regions, further solidifying its market dominance.
By Battery Type, Lead-Acid dominated the Cathode Materials Market in 2024 with an 80.2% Market Share.
This dominance is attributed to lead-acid’s mature technology, low cost, recyclability, and widespread use in automotive starter batteries and backup power systems. Despite the rise of lithium-ion batteries, lead-acid remains essential for many applications due to its reliability and extensive recycling infrastructure. Companies such as Exide Technologies and Johnson Controls continue to supply high volumes of lead-acid cathode materials, serving automotive and industrial sectors.
By Application, the Automotive Sector dominated the Cathode Materials Market in 2024 with a 46.2% Market Share.
The surge in electric vehicle production and government mandates for reduced emissions have propelled cathode material demand in this sector. Major automakers like Ford and General Motors are increasing EV offerings, boosting battery requirements. Furthermore, innovations in cathode chemistry to improve battery energy density and charging speeds are directly benefiting automotive applications. The electrification of commercial fleets and increased consumer EV adoption are key growth drivers.
By Region, North America dominated the Cathode Materials Market in 2024, Holding a 41.7% Market Share.
North America led the cathode materials market due to supportive EV policies, major federal investments, and a strong domestic manufacturing base with firms like Tesla and Livent. Government acts boosted local production, while automaker-tech partnerships advanced next-gen cathode technologies. Combined with top research institutions and rising EV demand, these factors solidified the region’s position in battery innovation and sustainability.
Recent Developments
• In June 2025, POSCO Future M achieved full independence from Chinese supply chains by producing cathode materials entirely without Chinese-sourced inputs.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cathode Materials Market Segmentation, By Material
8. Cathode Materials Market Segmentation, By Battery Type
9. Cathode Materials Market Segmentation, By Mode of Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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