From GlobeNewswire: 2025-06-16 09:30:00

The Cathode Materials Market is poised for significant growth, with a value of USD 33.24 billion in 2024 projected to reach USD 101.15 billion by 2032, driven by a CAGR of 14.93%. Rising electric vehicle usage, renewable energy projects, and evolving battery technologies are key factors fueling this expansion. Industry giants like Tesla and Panasonic are ramping up production to meet the growing demand spurred by environmental mandates and government incentives like the Inflation Reduction Act.

The US Cathode Materials market, valued at USD 10.88 billion in 2024, holds a market share of 78.5%. Government support for clean energy and electric vehicles, exemplified by initiatives like the DOE’s Battery500 program, is propelling market growth. US manufacturers like Livent and 3M are increasing production to meet the rising demand for EVs and energy storage, with a focus on nickel-rich cathodes to enhance battery capacity and lifespan.

Lithium Iron Phosphate (LFP) dominated the Cathode Materials Market in 2024 with a 35.8% market share, thanks to its safety profile, cost-effectiveness, and longer lifecycle. Lead-Acid batteries, with an 80.2% market share, remain essential due to their mature technology, recyclability, and reliability. The Automotive sector led the market in 2024 with a 46.2% share, driven by the surge in electric vehicle production and government emissions mandates.

North America held a 41.7% market share in the Cathode Materials Market in 2024, leading due to supportive EV policies, federal investments, and a robust manufacturing base. Recent developments include POSCO Future M achieving independence from Chinese supply chains by producing cathode materials without Chinese-sourced inputs. SNS Insider offers comprehensive market research and consulting services to provide clients with the essential knowledge and insights needed to navigate changing market conditions effectively.



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