Commodity Market Report

Global cathode and precursor market strategic planning outlook - Q1 2022

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31 March 2022

Global cathode and precursor market strategic planning outlook - Q1 2022

Report summary

In 2022, spot prices for cathode materials continue to surge driven by the high prices of battery raw materials. Nickel prices advanced to an annual average of almost US$18,500/t, a level not seen since 2011. On 8 March 2022, the world’s pricing mechanism for nickel – the London Metal Exchange – “failed” as a short squeeze took prices on the electronic trading platform above US$101,000/t. We believe “normal” nickel prices will return as Indonesian nickel pushes the market into surplus from 2023 to 2025. But the long-term increase in nickel usage and the difficulty in quickly ramping-up production are quite likely to lead to a more pronounced turn to high-manganese and LFP cathode chemistries, which are less nickel-concentrated but exhibit good performance. Outside of Asia, countries have been striving to develop localised battery supply chains and cathode processing facilities.

Table of contents

    • LFP cathode materials market outlook
    • Precursor market outlook
    • Nickel-based cathode market outlook
    • LMO cathode market outlook
    • LCO cathode market outlook
    • Precursor materials price forecast
    • NCM cathode materials price forecast
    • LFP cathode materials price forecast
    • LCO cathode materials price forecast
    • LMO cathode materials price forecast
  • Global outlook
    • The automotive sector
    • The energy storage system (ESS) sector
    • The portable electronics sector
    • The power device sector
    • The motive product sector
    • LFP supply
    • Precursor supply
    • Nickel-based cathode supply
    • NCA cathode
    • NCM series cathode
    • LCO cathode supply
    • LMO cathode supply

Tables and charts

This report includes 51 images and tables including:

  • Cathode materials demand by application, 2020-2050 (kt)
  • LFP cathode materials market balance, 2020-2050
  • Precursor production vs demand
  • Precursor market balance
  • Nickel-based cathode production vs demand
  • Nickel-based cathode market balance
  • NCM series cathode market balance
  • NCA cathode market balance
  • LMO cathode market balance
  • LCO cathode market balance
  • NCM precursor price forecast, 2021-2050
  • NCM cathodes price forecast, 2021-2050
  • Comparison of NCM cathode materials unit energy cost (US$/kWh)
  • Cost comparison of NCM811 and high-manganese cathodes
  • LFP cathode raw materials cost by synthesis method
  • LFP cathode price forecast, 2021-2050
  • High-voltage LCO cathode price forecast, 2021-2050
  • Low-voltage LCO cathode price forecast, 2021-2050
  • LMO cathode price forecast, 2021-2050
  • Cathode materials demand from passenger and commercial EVs, 2020-2050 (kt)
  • Cathode chemistry split in electric vehicles using battery technologies, 2020-2050
  • Automotive sales outlook by powertrain type, 2020-2050 (million units)
  • Energy storage technology split
  • Cathode materials demand from energy storage systems using Li-ion technologies, 2020-2050 (kt)
  • Cathode chemistry split in energy storage systems using Li-ion technologies, 2020-2050
  • Cathode materials demand from portable electronics using Li-ion technologies, 2020-2050 (kt)
  • Cathode chemistry split in portable electronics using Li-ion technologies, 2020-2050
  • Cathode materials demand from motive products using Li-ion technologies, 2020-2050 (kt)
  • Cathode chemistry split in power devices using Li-ion technologies, 2020-2050
  • Cathode materials demand from motive products using Li-ion technologies, 2020-2050 (kt)
  • Cathode chemistry split in motive products using Li-ion technologies, 2020-2050
  • LFP cathode capacity, by source
  • The existing capacity of LFP cathode materials by region, 2020-2050
  • New projects& expansion capacity of LFP cathode materials by region, 2020-2050
  • LFP cathode materials production split by country, 2020-2050
  • Precursor capacity, by source
  • Precursor existing capacity, by geography
  • PCAM new projects& expansion capacity, by geography
  • Precursor production, by type
  • Precursor production, by country
  • Precursor production, by owner
  • Cumulative production from offtake agreements (%)
  • NCM&NCA capacity, by source
  • New NCM&NCA projects& expansion, by geography
  • NCM&NCA production, by type
  • NCM series cathode supply, by geography
  • NCA cathode supply, by geography
  • NCM&NCA production, by owner
  • China NCM cathode production, by Ni content
  • LCO production, by geography
  • LMO production, by geography

What's included

This report contains:

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    Global cathode and precursor market strategic planning outlook - Q1 2022

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