Globally, Cathode materials are enjoying enormous popularity in the market owing to their various advantage over conventional materials. Some of the factors responsible for the cathode materials immense popularity are rising demands for electric vehicles, increased use of lithium-ion batteries in energy storage systems, and support from government and regulatory bodies. According to the latest market intelligence report by BIS Research titled, ‘Global Cathode Materials Market-Analysis and Forecast (2018-2023),’ the market is expected to register a CAGR of 16.3% in terms of volume during the forecast period. Cathode materials’ manufacturers are majorly focusing on developing the advanced materials, to be used in various application areas such as automotive sector, mobile phones, laptops, energy storage systems, and power tools.
In June 2018, Umicore N.V., a multinational materials technology, is building a new cathode materials plant in Nysa, Poland. The plant will be built upon the proprietary technologies developed to meet the highest automotive performance and quality standards. Nysa is in the vicinity of its European customers and will give access to a skilled technical workforce as well as to low carbon electricity supply.1
In June 2018, Johnson Matthey, a British multinational specialty chemicals, and sustainable technologies company, announced their strategy to commercialize new enhanced Lithium Nickel Oxide (eLNO) battery material. The strategy includes additional investment in eLNO testing with customers. The primary focus of the company is on large, multinational, automotive and battery-cell OEMs, which will play an active role in specifying cathode materials.2
Last year, in December 2017, BASF TODA Battery materials LLC (BTBM), a joint venture between BASF and TODA, tripled their high nickel Cathode Active Materials (CAMs) capacity at its Onoda site in Japan. BTBM was established as a BASF-majority-owned joint venture in 2015 to build up production capacity to meet customers’ needs in the rapidly evolving CAMs market.3
BASF SE, Mitsubishi Chemical Corporation, NEI Corporation, NICHIA Corporation, Nippon Chemical Industries Co. Ltd., TANAKA Chemical Corporation, Targray Technology International Inc., and Tesla Inc., among others are some of the prominent market players in the cathode materials market. In the global market for cathode materials, the key players are undertaking different strategies to gain significant market presence. Business expansion, new product launches, and developments, partnerships, collaborations, contracts, and agreements are some of the prominent strategies adopted by the key players in the cathode materials market.