LCO Cathode Market Scope
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.
The LCO Cathode market study is segmented, by Application (Automotive, Industries, Electronics and Others) and major geographies with country level break-up.
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.
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.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global LCO Cathode market by Type, Application 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).
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.
- Increased Focus on the Advancements and Development of High Voltage LCO Cathode Material for Application in Rechargeable Lithium-Ion Batteries
- Evolution of Electric Vehicles and Surging Demand for Lithium-Ion Batteries Will Boost the Adoption of LCO Cathodes
- Significant Growth of Electronics Industry Due to Increasing Digital Transformation and Automation Across Various Segments
- High Growth of Renewable Energy Sector and Increased Installation of Residential Solar System in the European Countries
- Government Initiatives towards the Adoption of Batteries in Order to Power Green Revolution
- High Cost Associated with Cobalt Thereby High Cost of LCO Cathodes May Hamper the Growth
- Growing Preference Towards the NCM Cathode Material for Lithium-Ion Batteries
- Easy Availability of Other Cathode Materials in the Market at Lower Price Compared to LCO Cathode
Key Target AudienceNew 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
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the LCO Cathode Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2027.