Lithium Battery Components Market: Overview
- A lithium battery has four major components: cathode material, anode material, separator, and electrolyte
- Lithium batteries generate electricity through chemical reactions of lithium. Lithium is inserted into the battery and the space for lithium is called cathode. In the cathode of a lithium battery, lithium oxide is used as an active material. The cathode determines the capacity and average voltage of a lithium battery.
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- Similarly, the anode substrate is also coated with an active material. Anode stores and releases lithium ions from the cathode, allowing the passage of current through an external circuit.
- Electrolyte serves as a medium that enables the movement of only lithium ions between the cathode and the anode
- The separator functions as a physical barrier keeping the cathode and the anode apart
Key Drivers of Lithium Battery Components Market
- Factors such as boom in the demand for electric vehicles and rapid technological advancements are expected to fuel the demand for lithium batteries during the forecast period. This, in turn, is projected to drive the global lithium battery components market between 2019 and 2027.
- Increasing use of smart devices, such as smartphones, tablets, and digital cameras, wherein lithium batteries are employed, is expected to drive the demand for lithium battery components during the forecast period.
Cathode Segment to Expand Rapidly
- The cathode segment of the lithium battery components market witnessed rapid growth in 2018. It is expected to dominate the market during the forecast period also.
- Cathode is the most important component of a lithium battery, as it is a source of lithium ions and it determines the capacity and average voltage of a lithium battery
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- Cathode materials are widely used in batteries along with several other carbon-related materials, such as carbon nanotubes (CNTs), carbon nanofiber, and meso-cellular carbon foam. Cathode enhances the decomposition of electrolytes during battery discharging. Due to this, the demand for cathode materials is increasing and the cathode segment is expected to dominate the global lithium battery components market during the forecast period.
Key Players Operating in the Market:
Prominent players operating in the global lithium battery components market are:
- Panasonic Corporation
- Samsung SDI Co., Ltd
- LG Chem
- Automotive Energy Supply Corporation
- LITEC Co., Ltd
- A123 Systems, LLC
- Toshiba Corporation
- Hitachi Chemical Co., Ltd.
- China BAK Battery Co., Ltd.
- Johnson Controls International Plc
- Saft
- BYD Company Ltd
Global Lithium Battery Components Market: Research Scope
Global Lithium Battery Components Market, by Type
- Cathode Material
- Anode Material
- Separator
- Electrolyte
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Global Lithium Battery Components Market, by End-use Industry
- Consumer Electronics
- Automotive
- Grid Energy
- Power Tools
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