Cathode Coating Market Outlook
The global cathode coating market size was USD 46.04 Mn in 2022 and is projected to reach USD 1.42 Bn by 2031, expanding at a CAGR of 13.4% during 2023-2031. The rising number of developments for lithium-ion batteries is creating opportunities for the market players during the forecast period.
Cathode coating is used to improve the capabilities of lithium-ion batteries and surface coating modification is widely employed to enhance electrochemical performances. Additionally, surface coating effectively improves the thermal and structural abilities thereby improving the surface activity of the particles. Significant innovation is mostly focused on increasing cost efficiency, productivity, and product reliability of cathode coating materials.
Cathode Coating Market Dynamics
What drives Cathode Coating Market?
Increasing Demand Due to Simplicity in Installation of Cathode Coating
The continuous demand for cathode coating in various applications such as electric vehicles, portable electronic devices, space, aeronautical and more is likely to fuel the demand for the cathode coating market. Furthermore, the simplicity of the cathode coating with improved technology and the growing demand for coating in electric and plug-in electric vehicles are further likely to fuel the demand for the market.
It is also highly utilized in ships, offshore floaters, subsea equipment, harbors, pipelines, and tanks; basically, all submerged or buried metal structures that can propel the global cathode coating market.
What Restraints Cathode Coating Market?
Expensive Cathodic Protection Process Hampering the Market Growth
The amount of cathodic protection must be controlled in order to protect the coating. Additionally, the cost associated with cathodic protection is very high and can be difficult if structures are complicated. Routine maintenance and visual inspection are required from time to time. A high current density with high-capacity rectifiers requires more power which is expensive and thus hampering the market.
What are the opportunities for Cathode Coating Market?
Expansion into Various Industries
Increasing use of cathodic coating is required in various industries, including petrochemicals, pipelines, marine, and construction, and is expected to create opportunities for cathode coating manufacturers during the forecast period. Extreme climatic changes are resulting in excessive corrosion, thus the demand from the various industries is expected to increase the demand for cathode coating during the forecast period.
Scope of Cathode Coating Market Report
The report on the Global Cathode Coating Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Cathode Coating Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 to 2021
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Forecast Period
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2023–2031
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Segmentation
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Type (oxide coatings, fluoride coatings, phosphate coatings, lithium composite coatings, glass coatings, other coatings) and Application (electric and plug-in hybrid electric vehicles, portable electronic devices, medical devices, space/ aeronautical/ defense-related devices)
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Regional Scope
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North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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Hannecard Roller Coatings, Inc, Durr Group, Industrie De Nora S.p.A, Transene Company, Inc, and SACHEM, INC
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Cathode Coating Market Segment Insights
What Key Factors Contribute to the Significant Expansion of the Type Segment?
Increasing usage of Cathode Coating across various Industries
Based on type, the global cathode coating market is bifurcated into oxide coatings, fluoride coatings, phosphate coatings, lithium composite coatings, glass coatings, and other coatings. The fluoride coating segment is expected to register substantial growth in the forecast period due to its wide usage in various applications for coatings across different industries.
The market for phosphate coatings is anticipated to register a considerable CAGR in the forecast period owing to the porosity of the coating. The strong adhesion and corrosion protection coating are beneficial to prevent the materials against rust. The highly resistant coating to chemicals, weather, and corrosion is highly preferred across major industries.
Which Major Factors influence the Substantial Growth of the Application Segment?
The rapid growth in demand for Portable e-devices
In terms of application, the global market is classified into electric and plug-in hybrid electric vehicles, portable electronic devices, medical devices, and space/ aeronautical/ defense-related devices. The portable electronic devices segment is projected to expand at a substantial rate during the forecast period owing to significant investment from various electronic companies and rising demand for portable e-devices.
The medical devices segment is anticipated to register a considerable CAGR during the forest period owing to the rising technological advancements and growing demand for medical devices. In medical devices, Li-ion batteries are widely used in medical devices due to their longer life, less space occupation, their ability to provide better energy density, and good power density and cathode is the source of the ions inserted into the lattice structure of the anode during charging and extracted from the anode during discharge.
Why is North America dominating Cathode Coating Market?
Rising Technological Advancements with increasing demand for lithioum-ion batteries
The market in North America is expected to hold a major share of the global market due to the presence of the EV market and the increasing demand for lithium-ion batteries in the region. North America accounted for 4.48 USD million of the market in the year 2022. Cathode coating is widely used in medical devices and the healthcare sector in the US is rapidly growing with technological developments in cathode coating that can drive the market.
The market in Asia Pacific is projected to expand at a CAGR of 13.9% during the forecast period. Asia Pacific held a significant share of the global cathode coating market owing to the increasing investments of governments in producing advanced batteries. The EV market is booming in emerging economies which can create new opportunities for the cathode coating market in the region.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Cathode Coating Market
- Historical, Current, and Projected Market Size in terms of Value.
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints, and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Cathode Coating Market Performance
Segments
Type
- Oxide coatings
- Fluoride coatings
- Phosphate coatings
- Lithium composite coatings
- Glass coatings
- Other coatings
Application
- Electric And Plug-in Hybrid Electric Vehicles
- Portable Electronic Devices
- Medical Devices
- Space/ Aeronautical/ Defense-related Devices
Key Players
Competitive Landscape
- Top players in the market include Hannecard Roller Coatings, Inc., Durr Group, Industrie De Nora S.p.A, Transene Company, Inc., and SACHEM, INC.
- The market is characterized by the presence of new as well as established market players. Key market players operating in the cathode coating market are focusing on various strategies such as mergers, partnerships, and acquisitions, among others.
- The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Global Cathode Coating Market.