Cobalt Free Cathode Market Share

  • Report ID: 4066
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Cobalt Free Cathode Market Share

APAC Market Statistics

Asia Pacific industry is expected to hold largest revenue share by 2037. The market’s growth can be attributed majorly to the presence of major automobile manufacturers in the region. Moreover, increasing sales of electric vehicle, backed by increasing disposable income in the region, and growing environmental awareness among the people are anticipated to encourage regional market growth. According to the data from the IEA, 47% of the total EVs running across the globe, were in China, in 2019. The rising adoption of people and concern of the government on eco-friendly products is estimated to drive market growth in this region.

Europe Market Forecast

On the other hand, the increasing replacement of cobalt with lithium-ion batteries is also expected to propel the growth of the market in the coming years in Europe. The rising digitalization in the region with growing demand for software is driving the market growth as per the market analysis. The increasing economic standards and spending capacity of people to buy consumer electronics including smartphones and other electronic devices are also driving the market growth in this region.

North American Market Forecast

The market in the North American region is anticipated to gain the largest market share throughout the forecast period owing to the increasing adoption of electric vehicles in developed countries, such as the U.S. and Canada. According to the report by IEA, over 231,088 battery-powered electric cars were sold in the US in 2020.

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Author Credits:  Rajrani Baghel


  • Report ID: 4066
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of cobalt free cathode is estimated at USD 11.02 million.

The cobalt free cathode market size was valued at USD 8.47 million in 2024 and is set to exceed USD 69.69 million by 2037, expanding at over 17.6% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for cobalt free batteries and growing sales of electric vehicles will boost the market growth.

Asia Pacific industry is expected to hold largest revenue share by 2037, led by presence of major automobile manufacturers in the region.

The major players in the market are Targray Technology International Inc., Texpower EV Technologies, Inc., Metso Outotec Corporation, Nichia Corporation, SVOLT Energy Technology Co., Ltd., Lithium Australia NL, German Raw Materials Agency (DERA), Morrow Batteries GmbH, Umicore, TÜV Nord Group
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