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NCM Battery Material Market Share Expands with Growing Demand for High-Energy Batteries | Valuates Reports
NCM Battery Material - MarketTernary cathode materials (NMC) have nickel, manganese and cobalt as their principal components, and as the cathode materials for lithium-ion batteries, are used mainly in batteries aimed at electrically-powered cars, including hybrid vehicles.
The global NCM Battery Material market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029.
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The NCM battery material market is gaining strong momentum as industries pivot towards high-performance energy storage systems. Known for its high energy density and balanced composition, NCM (Nickel Cobalt Manganese) battery material is becoming a preferred solution in applications ranging from electric vehicles to grid-scale storage and consumer electronics.
Market Size and Growth Drivers
The market size is experiencing steady expansion due to rising adoption of electric mobility and the global shift toward cleaner energy solutions. Automakers, battery manufacturers, and clean energy companies are increasingly relying on NCM cathodes to enhance battery efficiency, driving consistent market growth across regions.
Market Trends and Applications
Key market trends include the shift toward higher nickel-content formulations, such as NCM 811, which offer increased energy density while reducing reliance on cobalt. These materials are increasingly used in electric vehicle batteries, portable electronics, and renewable energy storage systems, reflecting a broader industry push for performance and sustainability.
Market Share and Competitive Landscape
The NCM battery material market share is led by a number of established manufacturers and innovators focusing on material optimization and supply chain stability. Companies are expanding their production capacities and forming strategic alliances to meet the surging demand for advanced battery technologies.
Market Forecast and Regional Insights
The market forecast indicates sustained demand, supported by growing investments in electric mobility, battery manufacturing, and energy transition initiatives. The Asia-Pacific region continues to dominate the global landscape, while North America and Europe are witnessing increased activity through government incentives and domestic battery ecosystem development.
Valuates Reports expects the NCM battery material market to maintain a positive growth trajectory, supported by technological innovation, evolving energy requirements, and the global push toward decarbonization.
Segment by Type:
• NCM111
• NCM523
• NCM622
• NCM811
• Others
by Application
• New Energy Vehicles
• 3C Electronics
• Others
Company Profiles:
• L&F
• Sumitomo Metal Mining Co., Ltd.
• Sinochem
• Umicore
• Tanaka Chemical
• Mitsui Mining & Smelting
• Nichia Corporation
• BASF
• GEM
• Tianjin Bamo Technology
• Ningbo Ronbay New Energy
• Hunan Shanshan
• Beijing Dangsheng Material
• Reshine New Material
• Hunan Cylico
• Guizhou Zhenhua New Materials
• Xiamen Simwe
• Pulead Technology Industry
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