About LNMO Battery Materials
LNMO battery materials are cathode materials that are widely used for the manufacturing of next-generation rechargeable lithium-ion batteries. The expansion of the electric vehicle market across the globe is due to increasing fuel prices and growing concerns about greenhouse gas emissions. Lithium-ion batteries have dominance in the application of EVs due to their lightweight and larger energy density. In today’s time, LNMO cathode material is becoming more popular for lithium-ion batteries to improve the battery energy storage and Mileage of electric vehicles. Further, the government in the UK has made a commitment to ban the sale of petrol or diesel cars by 2030 to increase the purchase of EVs, which will create significant opportunities for the LNMO battery materials during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.8% |
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. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global LNMO Battery Materials market throughout the forecasted period. 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.
Haldor Topsoe (Denmark), Arkema, NEI Corporation (United States), Echion Technologies Ltd. (United Kingdom), Nexceris (United States), Johnson Matthey (United Kingdom), Nano One Materials (Canada), Nichia Corporation (Japan), Cosmo AM&T Co.Ltd (South Korea), Nippon Chemical Industrial (Japan), BASF (Germany), GELON LIB GROUP, Xiamen Tmax Battery Equipments Limited, Tob China and Targray are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global LNMO Battery Materials market by , Application (Auto Battery Manufacturers, Industries Battery Manufacturers, Consumer Goods Battery Manufacturers, ESS Battery Manufacturers and Others) and Region.
On the basis of geography, the market of LNMO Battery Materials 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 Sales Channel, the sub-segment i.e. Direct Sales (Company Website and Factory) will boost the LNMO Battery Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Innovation of LNMO Battery Materials for the Development of Next-Generation Lithium-Ion Batteries and Improve Density and Increasing Acceptance of High Nickel-Based Lithium-Ion Batteries Due to Its High Energy Density
Market Growth Drivers:
Increasing Dominance for Lithium-Ion Batteries for Electric vehicles Will Boost the Adoption of LNMO Materials and Growing Demand for Cobalt-Free High-Voltage Spinel Cathode Material for Lithium-Ion Batteries
Challenges:
Easy Availability of Other Cathode Materials in the Market for Manufacturing of Lithium-Ion Batteries
Restraints:
Growing Preference Towards the NCM Cathode Material for Lithium-Ion Batteries and The Capacity Fading Issues Due to Increased Internal Resistance and Loss of Cyclable Lithium
Opportunities:
Increasing Demand for Lithium-Ion Batteries in the Residential Solar System for Energy Storage and Significant Growth of Electronics Industry Due to Increasing Digital Transformation and Automation
Market Leaders and their expansionary development strategies
In January 2022, Arkema and Morrow entered into a non-exclusive partnership to develop high-voltage solutions for batteries.
In September 2021, Nano One entered into an agreement with a global automotive OEM for the development and evaluation of manganese-rich batteries. With this deal, the main aim of the company is to develop low-cost, cobalt-free, manganese-rich LNMO cathode materials for potential electric vehicle integration.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, LNMO Battery Materials Manufacturers, LNMO Battery Materials 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.