Insight
Will nickel-based cathodes lose to LFP cathodes in the West?
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Report summary
The rapid growth of lithium iron phosphate (LFP) cathodes in the global electric vehicle (EV) market has sparked uncertainty in the outlook for nickel-based cathode demand. LFP now dominates in China due to its cost-effectiveness. Nickel-based cathodes are considered the preferred choice in Western markets. Recent developments, however, have prompted a re-evaluation of this trend. This insight particularly emphasises the future outlook for nickel-based cathodes and identifies several compelling reasons why they will maintain their market share in the global battery market.
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