Cell Design and Materials: Li-Ion (Industry) — Battery Report 2025, page 314

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Lithium Cobalt Oxide (LCO) Basic Information Lithium cobalt oxide (LiCoO2) remains the leading cathode for portable electronics due to its high practical capacity and stable discharge plateau. Pushing charge cut-off voltage above ~4.4 V can further increase usable capacity by extracting more lithium, but it also accelerates degradation, making cycle life a key constraint. LCO is often benchmarked around ~500 cycles, with optimized high-voltage designs and controlled operating windows reaching ~1,000-cycle-class performance. As a result, high-voltage LCO increasingly relies on coatings, dopants, and blends to improve stability and reduce cobalt content. For example, a “2% LAF-LCO” variant reported ~89.1% retention after 100 cycles versus ~44.5% for baseline LCO.

Limit Voltage (V)

Capacity (mAh/g)

Average Cell Voltage (V)

Specific Energy (Wh/kg)

Specific Energy (Wh/L)

Increase %

Source: Wu et al. J. Energy Chem. 2022,large-battery datainsightsmarket,

Based on market study “LCO Co≥60 %, 4.45 V: ~US $27.6 k/ton and China $16.7k/ton in June 2025.” Up-stream input cost pressures (Co/Li) continue to push material cost higher. Main domain: Still the workhorse cathode for 3C/portable electronics – smartphones, laptops, cameras, tablets, many 18650/21700 packs for electronics. EVs: In 2025, EV cathodes are dominated by NMC and LFP; LCO is not a major EV chemistry due to cobalt cost, safety, and cycle life at high load. Market snapshot: A 2025 market report pegs the global LiCoO2 battery market in the mid–tens of billions of USD with moderate growth, mainly tied to electronics, and under pressure from NMC and LFP in many segments.

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