Global CAM production capacity tracker 2025

The Global CAM production tracker is based on the S&P Global Mobility Cathode Active Material (CAM) Production Forecast and High-Voltage Battery Forecast launched in September 2025. The forecast covers CAM plants in Greater China, Europe, Japan/Korea, the Middle East/Africa, North America, South America and South Asia.

Each factory in this report produces CAM for lithium-ion (Li-ion) batteries that are used in several industries, including the light vehicle (LV) segment, medium and heavy-duty vehicle (MHCV) segment, low-voltage battery (LVB), energy storage systems (ESS), and portable electronics segment.

Along with the capacity of major CAM-producing plants globally, the data also includes demand for CAM from each of the applications and across regions. Based on the total installed capacity of a plant and the demand, the utilization rate has been calculated. The demand for CAM is based on the cell production region, whereas volume and capacity are based on the CAM production region.

Mirroring the trends in the EV segment, the report will focus primarily on NCM and LFP CAM production capacity. Most CAM production is unsurprisingly concentrated in Greater China. While most of the demand also originates from mainland China, the regional demand footprint is expected to diversify much faster than production. This is because mainland China controls the technology know-how and has increasingly tightened restrictions on technology exports to other regions. North America and Europe are now investing heavily in localized CAM production facilities to mitigate geopolitical risks and ensure supply chain resilience.