About LCO Cathode
LCO cathode is a type of material that is prepared by heating a stoichiometric mixture of lithium carbonate and cobalt oxide. Lithium cobalt oxide is widely used in electronic devices and manufacturing lithium-ion batteries due to its high working potential and density. Increasing demand for lightweight electric vehicles to increase the speed and mileage of vehicles will create huge demand for lithium-ion batteries, which will accelerate the growth of LCO cathode. Increasing automation and penetration of smart and portable electronic devices like laptops, tabs, etc. will create significant opportunities in the nearer future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nichia Corporation (Japan), Cosmo AM&T Co.Ltd (South Korea), NEI Corporation (United States), Umicore (Belgium) and Nippon Chemical Industrial (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global LCO Cathode market by , Application (Automotive, Industries, Electronics and Others) and Region.
On the basis of geography, the market of LCO Cathode has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Solid will boost the LCO Cathode market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the LCO Cathode market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Advancements and Development of High Voltage LCO Cathode Material for Application in Rechargeable Lithium-Ion Batteries
Market Growth Drivers:
Evolution of Electric Vehicles and Surging Demand for Lithium-Ion Batteries Will Boost the Adoption of LCO Cathodes and Significant Growth of Electronics Industry Due to Increasing Digital Transformation and Automation Across Various Segments
Challenges:
Easy Availability of Other Cathode Materials in the Market at Lower Price Compared to LCO Cathode
Restraints:
High Cost Associated with Cobalt Thereby High Cost of LCO Cathodes May Hamper the Growth and Growing Preference Towards the NCM Cathode Material for Lithium-Ion Batteries
Opportunities:
High Growth of Renewable Energy Sector and Increased Installation of Residential Solar System in the European Countries and Government Initiatives towards the Adoption of Batteries in Order to Power Green Revolution
Market Leaders and their expansionary development strategies
In November 2022, Cabot Corporation launched of its new LITX 93 series of conductive carbon additives (CCA) for use in lithium-ion batteries for electric vehicles (EV), energy storage applications and consumer electronics.
In August 2021, Cosmo AM&T announced to build of a new cathode active material plant in South Korea to expand the production of NCM cathode. The new plant will allow Cosmo AM&T to produce 50,000 metric tons of cathode material. With this expansion, the main aim of the company is to meet the increasing demand for NCM cathodes for the production of lithium-ion batteries used in electric vehicles.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, LCO Cathode Manufacturers, LCO Cathode Suppliers & Distributors, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.