Li-ion batteries consist of largely four main components: cathode, anode, electrolyte, and separator.
Cathode materials products include binders, foils, and cathode active materials (NMC, NCA, LMO, LCO). Cathode plays an important role in determining the characteristics of the battery as the battery’s capacity and voltage are determined by active material type used for cathode. The higher amount of lithium, bigger the capacity; and the bigger potential difference between cathode and anode, higher the voltage. The potential difference is small for anode depending on their type but for cathode, the potential difference is relatively high in general. As such, the cathode plays a significant role in determining the voltage of the battery.
Anode materials are the negative electrode in lithium-ion batteries and are paired with cathode materials in a lithium-ion cell. The anode materials in lithium-ion cells act as the host where they reversibly allow lithium-ion intercalation / de-intercalation during charge / discharge cycles.
A battery separator is a polymeric membrane placed between the positively charged anode and negatively charged cathode to prevent an electrical short circuit. The separator is a microporous layer that is moistened by the electrolyte that acts as a catalyst to increases the movement of ions from one electrode to the other electrode. When the battery is charging the ions moves from cathode to anode and when the battery gets discharged the ions will move in the reverse direction. The separator controls the number of ions moving between the positive and negative terminal and hence it is responsible for the leakage of ions (self-discharge) when the battery is ideal. Although the ions pass through the separator freely it will not have any electrical conductivity and it always acts as an isolator.
Electrolyte plays a key role in transporting the positive lithium ions between the cathode and anode. The electrolyte is typically a mixture of organic carbonates such as ethylene carbonate or diethyl carbonate containing complexes of lithium ions. These non-aqueous electrolytes generally use non-coordinating anion salts such as lithium hexafluorophosphate (LiPF6), lithium hexafluoroarsenate monohydrate (LiAsF6), lithium perchlorate (LiClO4), lithium tetrafluoroborate (LiBF4), and lithium triflate (LiCF3SO3).
Backed with downstream demand, especially from automotive industry, global lithium-ion battery materials grows fast. In 2020, the Global Lithium-ion Battery Materials market size was valued at 10267.26 Million USD, increased from 7805.16 Million USD in 2016, and the market is forecasted to reach 22121.19 Million USD by 2026, growing at CAGR of 13% between 2021 and 2026.
Global Lithium-ion Battery Materials Market- Key Players
Umicoreh, Targray, LG Chem, BTR New Energy, Shanshan Technology, Showa Denko K.K., Kureha Battery Materials, Mitsubishi Chemical, Asahi Kasei, Sumitomo Corporation, Toray, are some of key players in the market. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Shanshan Technology, BTR New Energy, Umicore, Mitsubishi Chemical, and Toray are some of the major market participants. In 2020, top 3 players occupied about 21.58% revenue share. The environmental benefits will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Global Lithium-ion Battery Materials Market: Application Analysis
Application of Lithium-ion Battery Materials market can be segmented into: Automotive, Grid Energy Storage, Consumer Electronics, etc.. In 2020, automotive segment occupied the most market, of 55.94% global market share. After a decade of rapid growth, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. China, with 4.5 million electric cars, has the largest fleet, though in 2020 Europe had the largest annual increase to reach 3.2 million. The fast growth of downstream industry provide sufficient support to the Lithium-ion Battery Materials industry.
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