Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Alternative Cathode Material Market: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific alternative cathode material market (excluding China) was valued at $1.18 billion in 2023, and it is expected to grow with a CAGR of 6.96% during the forecast period 2023-2032 to reach $2.16 billion by 2032. The growth of the alternative cathode material market is anticipated to result from the increasing need for lithium batteries with enhanced energy densities. Moreover, the cost-effectiveness of alternative cathode materials is projected to contribute significantly to the further advancement of the alternative cathode material market. 
The Asia-Pacific area is vital in determining the direction of energy storage solutions in the dynamic APAC Alternative Cathode Material Market. The industry is expanding significantly because to the growing requirement for renewable energy storage and the growing demand for electric cars. Important companies, especially those with expertise in sodium-ion and lithium-sulfur battery technologies, are putting themselves in a strategic position to benefit from the shifting energy market.
Prioritizing research and development expenditures with the goal of enhancing the efficiency and affordability of substitute cathode materials is crucial for companies. Innovation may be accelerated by cooperative efforts with research institutes and strategic alliances within the sector. Navigating the dynamic APAC Alternative Cathode Material industry and grabbing new opportunities requires being up to date on regulatory changes and industry trends.
Key Market Dynamics
Market Drivers
- Concerns about Cobalt Availability
- Rising Demand for Lithium-Ion Batteries with Higher Energy Densities
- Lower Cost of Alternate Cathode Materials
- Increasing Renewable Energy Integration
Market Challenges
- Limited Commercialization
- Supply Chain Uncertainties
- Regulatory and Safety Concerns
Market Opportunities
- Improved Performance
- Demand for Alternative Cathode Materials in Electric Vehicles (EVs) for Higher Range
Market Segmentation:
Segmentation by Battery Type
- Lithium-Ion Batteries
- Lead-Acid Batteries
- Others
Segmentation by End User
- Automotive
- Consumer Electronics
- Power Tools
- Energy Storage Systems (ESS)
- Others
Segmentation by Material Type
- Lithium Nickel Manganese Cobalt Oxide (NMC)
- Lithium Nickel Cobalt Aluminium Oxide (NCA)
- Lithium Iron Phosphate (LFP)
- Lithium Manganese Oxide (LMO)
- Others
Segmentation by Country
- Japan
- South Korea
- Rest-of-Asia-Pacific and Japan
Key Market Players and Competition Synopsis
The following featured companies have been chosen, drawing insights from primary experts and thorough evaluations of company coverage, product offerings, and market presence.
- Mitsubishi Electric Corporation
- Nippon Chemical Industrial CO., LTD.
- LG Chem
- POSCO
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $1.18 Billion |
| Forecasted Market Value (USD) by 2032 | $2.16 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Alternative Cathode Material Market: Overview
1.1.2 Trends: Current and Future
1.1.2.1 Reducing Cobalt Content in Cathode Materials
1.1.2.2 Shift to Lithium Iron Phosphate (LFP) Batteries
1.1.2.3 Shift toward Electric Vehicles
1.1.3 Supply Chain Network
1.1.3.1 Mining and Processing
1.1.3.2 Material Production
1.1.3.3 Cathode Production
1.1.3.4 Battery assembly
1.1.4 Ecosystem/Ongoing Programs
1.1.4.1 Consortiums and Associations
1.1.4.2 Regulatory Bodies
1.1.4.3 Government Programs
1.1.4.4 Programs by Research Institutions and Universities
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Concerns about Cobalt Availability
1.2.1.2 Rising Demand for Lithium-Ion Batteries with Higher Energy Densities
1.2.1.3 Lower Cost of Alternate Cathode Materials
1.2.1.4 Increasing Renewable Energy Integration
1.2.2 Business Challenges
1.2.2.1 Limited Commercialization
1.2.2.2 Supply Chain Uncertainties
1.2.2.3 Regulatory and Safety Concerns
1.2.3 Business Opportunities
1.2.3.1 Improved Performance
1.2.3.2 Demand for Alternative Cathode Materials in Electric Vehicles (EVs) for Higher Range
1.3 Mining of Cathode Materials
1.4 Use Cases of Various Cathode Types
1.5 Comparative Analysis of Key Battery Minerals
1.6 Analysis: Why is There a Need for Alternative Cathode Materials?
2 Regions
2.1 China
2.2 Asia-Pacific and Japan
2.2.1 Asia-Pacific and Japan: Country-Level Analysis
2.2.1.1 Japan
2.2.1.2 South Korea
2.2.1.3 Rest-of-Asia-Pacific and Japan
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Company Profiles
3.2.1 Mitsubishi Electric Corporation
3.2.2 Nippon Chemical Industrial
3.2.3 LG Chem
3.2.4 POSCO
4 Research Methodology
4.1 Data Sources
4.2 Market Estimation and Forecast
4.2.1 Factors for Data Prediction and Modeling
For more information about this report visit https://www.researchandmarkets.com/r/t22tma
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