Global Electric Vehicle Cathode Material Market Dominated by China at 94.2%... Concentration Persists Despite U.S. and European Supply Chain Regulations

Despite strengthened battery supply chain regulations in the U.S. and Europe, the electric vehicle cathode material market remains heavily dominated by Chinese companies, according to market research firm SNE Research. Global cathode material shipments from non-Chinese sources grew 25.5% year-over-year to 234,000 tons in the first five months of 2024, outpacing overall market growth. However, supply chain diversification remains slow, with Chinese firms still accounting for 94.2% of the global market in Q1 2024. While companies like BTR and Kaijin showed strong growth, they failed to surpass the dominant Chinese producers' share of the market.