Increasing innovation and technological advancements practices in the energy sector is taking the world to a whole new level. Energy storage devices, systems and technologies is one of the key sector which is expanding rapidly across the globe. Major market participant are expanding their business portfolio and further getting into the universe of novel energy devices & technologies. Commercially there numerous types of energy storage devices are available in the marketplace such as batteries, capacitors to name a few. These devices comes up with different energy storage capacity and with different sizes. Batteries are one of key storage medium amongst the oldest and extensively commercialized storage technologies globally and their efficiency is massively depends upon cathode battery materials. End user requirements such as durability, long operating life, fast charging and effective response times are some of the key properties which led to improvements in cathode battery material types.
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One of the battery types which is gaining enormous traction is lithium ion batteries. These batteries exhibit attributes like fast charging, large energy storage and also having long operating life. The cathode battery material is one of the integral and key component inside the battery which measures the energy density of that battery. The energy density in the battery is calculated by its voltage and capacity. The working mechanism of the battery include the intercalation and deintercalation of the compounds, where the ions is transferred from cathode to anode during charging mechanism and reverse back during discharging operation, with a negligible effect on the structure of anode. The cathode battery material selection is dependent on numerous factors which includes, energy, capacity, operating temperature, life span , conductivity to name a few. Commercially there are numerous cathode battery material available in the market such as, cobalt, phosphate, lithium iron phosphate, manganese and nickel cobalt manganese among others.
Cathode Battery Material Market: Market Dynamics
Attributes such as compatibility, durability, efficient and fast charging are key competencies which enables substantial developments in cathode battery materials market. Also increase in the consumption of lithium ion batteries in numerous industries driving the market for cathode battery material.. Growing energy requirement across the world is creating the growth opportunities for the players present across the value chain of cathode battery material universe. Regional and global player in the market are adopting emerging business models in order to increase their geographical presence. This initiative us further leads to create significant growth opportunities for cathode battery material distributors and suppliers. Moreover, companies are strengthening their R&D infrastructure & moving their way towards the innovation and development of new cathode battery material with increase efficacy. However, heating issue and size are acting as adoption barrier for the batteries and cathode battery material but it can be offset in the near future with technological advancements.
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Cathode Battery Material Market: Segmentation
On the basis of Material Type, the Cathode Battery Material Market can be segmented as:
- Nickel Cobalt Manganese
On the basis of End Use Industry, the Cathode Battery Material Market can be segmented as:
- Power Tools
Cathode Battery Material Market: Region Wise Trends
Globally the demand for cathode battery material is expected to surge with the increase in attraction towards energy storage technologies and systems. China is expected to capture the maximum share in cathode battery material market. The major driving factor in China and other Asian countries is the high demand for energy systems, along with the presence of battery consumers in very large scale. Taiwan is one of the largest electronics manufacturer which creates substantial demand for cathode battery material market. China is closely followed by North America and Europe, in these regions favorable government policies & funding for the usage of effective energy systems drives the demand for cathode battery materials.
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Examples of some of the market participants in the Global Cathode Battery Material Market identified across the value chain include:
- BASF SE
- NEI Corporation
- Hitachi Chemical Co., Ltd
- Long Power Systems (Suzhou) Co., Ltd
- Rock Tech Lithium Inc.
- Nichia Corporation
- Hunan Shanshan New Material Co., Ltd.