According to Fortune Business Insights the global cathode materials market size was valued at USD 38.47 billion in 2024. The market is projected to grow from USD 44.78 billion in 2025 to USD 135.73 billion by 2032 at a CAGR of 17.2% during the forecast period. The report is compiled by Fortune Business Insights with an intent of presenting a 360-degree overview of the global cathode materials market. The analysis reveals key growth strategies adopted by the leading players, and their impact on the overall market. Besides gauging investment feasibility across various regions, the report segments the global cathode materials market in terms of various criteria.
The cathode in a battery is composed of cathode materials that function as effective oxidizing agents. Common materials used in cathodes include metallic oxides such as copper oxide, lithium oxide, and graphite oxide. Lithium manganese oxide (LMO) is widely used in lithium-ion batteries, while polyanionic compounds serve as electrode materials in sodium-ion batteries due to their high stability, enhanced safety, and appropriate operating voltages.
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Cathode Materials Market Segmentation Analysis:
By Battery Type:
The market is segmented into lithium-ion batteries (including LFP, NMC, NCA, and others), lead-acid batteries, and others. In 2024, lithium-ion batteries dominated the market due to their high energy density and widespread use in electric vehicles (EVs). The rising adoption of EVs is expected to drive further growth of this segment, as cathode materials play a key role in determining battery performance.
By End Use:
The automotive segment led the market in 2024, driven by the growing shift toward EVs and supportive government initiatives like India’s FAME II scheme. Consumer electronics is another key segment, fueled by rising demand for smartphones and compact devices. Advancements in battery technology and the critical role of cathode materials in improving battery life and performance are boosting demand in this segment.
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