Lithium-ion Battery Materials Market Report 2025: Detailed Insights Into Market Trends, Projections, And Growth Drivers

The lithium-ion battery materials market is poised for robust growth, driven by rising demand for electric vehicles and energy storage. Innovations in material efficiency and recycling are set to shape a more sustainable and competitive global landscape.
The global lithium-ion battery materials market is projected to grow from USD 41.93 billion in 2024 to USD 120.92 billion by 2029, at a CAGR of 23.6% during the forecast period. The research study provides a qualitative and quantitative analysis of the lithium-ion battery materials market size [https://www.marketsandmarkets.com/Market-Reports/lithium-ion-battery-materials-market-23313535.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=lithiumionbatterymaterials] and share, growth perspectives, dynamic trends, regional insights, and the competitive landscape. The growing demand for consumer electronics, such as smartphones, laptops, tablets, and wearable devices, is a major driver of the lithium-ion battery materials industry. These devices rely largely on lithium-ion batteries because of their lightweight, small design, and high energy density, making them indispensable for current portable electronics. As consumer devices become more advanced, with longer battery life and faster charging capabilities, the demand for lithium-ion batteries and their critical materials such as lithium, cobalt, nickel, and graphite increases.

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Based on application, the electric vehicles segment accounted for the largest share during the forecast period. The electric vehicles (EV) category by application is expected to account for the largest share of the lithium-ion battery materials market due to the rapid development in worldwide EV adoption fueled by environmental aims and government regulations. Lithium-ion batteries are critical for EV performance because they provide the energy storage required for long distances and rapid charging. As automakers ramp up EV production, the demand for essential elements like lithium, nickel, cobalt, and manganese rises dramatically. This trend is further reinforced by advances in battery technology, such as increased energy densities and improved safety features, which have made lithium-ion batteries the favored choice for EV producers. As a result, the increased production and use of electric vehicles is driving significant growth in the lithium-ion battery materials market.

Based on battery chemistry, the lithium nickel manganese cobalt segment accounted for the largest share, in terms of value, of the overall lithium-ion battery materials market during the forecast period. These batteries are particularly popular due to their high energy density and stability, making them excellent for electric vehicles (EVs) and energy storage devices. The usage of lithium nickel manganese cobalt chemistry is predicted to increase as demand for EVs and efficient energy storage solutions grows, spurred by the global trend toward sustainable transportation and renewable energy. Furthermore, the flexibility to customize lithium nickel manganese cobalt batteries by altering the nickel, manganese, and cobalt ratios enables manufacturers to improve their products for specific applications, increasing market share.

Based on material, the cathode materials segment accounted for the largest share, in terms of value, of the overall lithium-ion battery materials market during the forecast period. The cathode materials category is predicted to dominate the lithium-ion battery materials market due to its crucial role in defining lithium-ion battery performance and efficiency. Cathodes are critical components that store and release lithium ions during charge and discharge cycles, greatly influencing the battery's energy density, power output, and overall longevity. These compounds improve battery performance while also allowing manufacturers to meet demanding safety and environmental criteria. As the global transition to sustainable energy solutions increases, aided by government incentives and technological breakthroughs, the cathode materials segment is poised for significant expansion, establishing itself as a key driver in the lithium-ion battery materials market.

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Based on region, Asia Pacific is the largest market for lithium-ion battery materials, in terms of value, during the forecast period. Asia Pacific is expected to dominate the lithium-ion battery materials market, owing to numerous important characteristics that position the area as a global leader in battery manufacturing and consumption. The rapid growth of electric cars (EVs) in countries such as China, Japan, and South Korea is a big factor, since these countries invest extensively in EV technology and infrastructure. Furthermore, government initiatives and subsidies targeted at increasing the use of EVs and renewable energy solutions drive up demand for lithium-ion batteries. The region also has an abundance of lithium resources, which are required for battery production, as well as a strong manufacturing ecosystem that supports the battery material supply chain.

Lithium-Ion Battery Materials Companies [https://www.marketsandmarkets.com/ResearchInsight/lithium-ion-battery-materials-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=lithiumionbatterymaterials]

Companies such as Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), BASF SE (Germany), POSCO Future M (South Korea), and Tanaka Chemical Corporation (Japan) fall under the winners' category. These are leading players in the Lithium-ion battery materials market globally. These players have adopted the strategies of acquisitions, expansions, partnerships, and investments to increase their market shares.

Umicore

Umicore is a global material technology and recycling group. The company serves diverse industries, including energy, automotive, recycling, chemicals, manufacturing, optics & displays, precious metals, and electronics. It operates through 3 business segments, namely, catalysis, energy & surface technologies, and recycling. It offers lithium-ion battery materials under its energy & surface technologies segment.

Under its energy & surface technologies segment, it offers other products such as cobalt & specialty materials, rechargeable battery materials, metal deposition solutions, and electro-optic materials. The company operates in over 90 countries across Europe, North America, Asia Pacific, South America, and Africa. The company has more than 40 production sites and 15 R&D/technical centers globally.

Sumitomo Metal Mining Co., Ltd.

Sumitomo Metal Mining Co., Ltd., often referred to as SMM, is a global leader in the production and supply of materials for the lithium-ion battery industry and is engaged in mining, non-ferrous metal smelting & refining, and advanced materials businesses. The company operates through 3 business segments, namely, mineral resources, smelting & refining, and materials.

The materials business segment is categorized into battery, crystal, powder, package, catalysts, and construction materials. The battery materials develop and market cathode materials such as lithium nickel cobalt aluminum oxide (NCA), lithium nickel manganese cobalt oxide (NMC), and nickel hydroxide. The company primarily operates in Japan, along with an active presence in China, the US, the Philippines, Australia, Chile, Peru, and other countries.

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BASF SE

BASF SE is a global leader in producing and supplying advanced materials, chemicals, and solutions. It has diversified operating business segments, namely, chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. The company offers products and solutions such as petrochemicals, intermediates, performance materials, polyamide raw materials, performance chemicals, catalysts, personal care & hygiene, oil & gas, and others.

BASF SE offers lithium-ion battery materials under the catalysts division of the surface technologies segment. It manufactures and distributes cathode active materials that support lithium-ion batteries for electrified vehicles with energy, density, reliability, and performance. The company operates in more than 80 countries in Europe, North America, Asia Pacific, South America, Africa, and the Middle East.

POSCO Future M

POSCO Future M, formerly known as POSCO Chemical, is among the leading lithium-ion battery material players. It offers products and services such as battery materials, advanced chemical materials, and basic industrial materials for a wide range of applications, including electric vehicles, IT devices, electric machines, plasticizers, manufacture of benzene, toluene, xylene, and many others. Under battery materials, it produces cathode material and anode material. The company operates in Europe, Asia Pacific, Middle East & Africa, South America, and North America.

Tanaka Chemical Corporation

Tanaka Chemical Corporation manufactures materials for Ni-MH batteries and Lithium-Ion batteries. The company specializes in a single segment, i.e., positive electrode materials, for lithium-ion and Ni-MH batteries. They are used for secondary batteries and electrical appliances such as mobile devices and Hybrid Electric Vehicles (HEV). Tanaka Chemical Corporation is a subsidiary of Sumitomo Chemical.

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