Lithium-ion Battery Cathode Market Size Worth $12.77 Billion By 2027 | CAGR: 12.4% | Polaris Market Research
NEW YORK, Jan. 11, 2021 /PRNewswire/ -- The global lithium-ion battery cathode market size is expected to reach USD 12.77 billion by 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a 12.4% from 2020 to 2027. Increasing use of lithium-ion battery cathode in energy storage systems, rising demand for electric vehicles, and growing industrialization worldwide are anticipated to drive the market growth. In addition to this, the enhanced compatibility and reliability of lithium-ion batteries and their increasing applications across different industry verticals are expected to propel the growth of the market. Moreover, the rising demand for such batteries in consumer electronics such as tablets, digital cameras, and smartphones is further creating new growth avenues. A growing trend for the utilization of cost-effective batteries across different industries such as gas, oil, and renewable is one of the key factors responsible for the substantial growth of the market.
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Key Findings for Lithium-Ion Battery Cathode Market
Regional Outlook & Growth Analysis:
The Asia Pacific is projected to lead the lithium-ion battery cathodes market owing to rapidly growing industrialization and increasing demand for end-use industries. There are several leading manufacturers present in the region that are constantly working to bring quality products to attract more consumers. North America region is also predicted to witness substantial growth owing to increasing government policies for enhancing vehicle fuel efficiency. In addition to this, growing efforts from manufacturers to lwer down the manufacturing costs of lithium-ion batteries has resulted in cost-effective offerings for the consumers.
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The next area of innovation for li-ion batteries is grid-scale battery installations to improve their energy storage capability. This can lead to improving the energy density of lithium batteries in comparison to other rechargeable batteries, which ultimately translates into reduced weight and size and improved energy storing capability of the batteries. Companies such as BASF SE, Umicore SA, Sumitomo Chemicals, 3M Company, Hitachi Chemical Co., Ltd., LG Chem Ltd., Samsung SDI, Mitsubishi Chemical Holdings Corp, NICHIA Corporation, Fujitsu Limited, NEI Corporation, and Targray Technology International Inc. are few key players operating in the market.
Supply Side: Manufacturer, distributor, and supplier of lithium-ion battery cathode
Demand Side: Automotive Industry, Consumer Electronics, Mining Operations
Regulatory Side: Pipeline and Hazardous Materials Safety Administration (PHMSA)
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Polaris Market Research has segmented the lithium-ion battery cathode market report on the basis of chemical composition, cell type, end-use, and region
Lithium-ion Battery Cathode by Chemical Composition Outlook (Revenue – USD Million, 2016 – 2027)
Lithium-ion Battery Cathode by Cell Type Outlook (Revenue – USD Million, 2016 – 2027)
Lithium-ion Battery Cathode by End-Use Outlook (Revenue – USD Million, 2016 – 2027)
Lithium-ion Battery Cathode by Regional Outlook (Revenue – USD Million, 2016 – 2027)
List of Key Players of Lithium-ion Battery Cathode Market
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