Summary

The global lithium-ion battery materials market is projected to grow from USD 41.9 billion in 2024 to USD 120.9 billion by 2029, at a CAGR of 23.6% during the forecast period. The lithium-ion battery materials market is expanding rapidly due to rising demand for lithium-ion batteries across a variety of industries. These materials, which include cathode and anode materials, electrolytes, and separators, are required to produce batteries used in electric vehicles (EVs), consumer electronics, and energy storage systems. The key drivers of this market are the rising adoption of EVs, which is being driven by worldwide attempts to reduce carbon emissions and a trend toward renewable energy. Furthermore, rising demand for portable electronic devices, advances in battery technology, and government incentives to promote green energy are moving the industry forward.
“Portable devices segment, by application, is estimated to account for the second largest share during the forecast period”
The portable devices segment is projected to secure the second-largest share in the forecast period. Given the growing demand for consumer electronics such as smartphones, tablets, and laptops, the portable devices category is predicted to account for the second-largest proportion of the lithium-ion battery materials market. Factors such as the expanding popularity of remote work, online education, and the growing desire for smart gadgets are driving demand for portable electronics, which in turn fuels the demand for efficient and long-lasting lithium-ion batteries. The growing preference among consumers for high-performance devices with extended battery life will continue to boost demand for lithium-ion battery materials in the portable device industry.
“By battery chemistry, lithium iron phosphate segment is accounted for the second largest share during the forecast period”
The lithium iron phosphate segment by battery chemistry is expected to have the second-largest share of the lithium-ion battery materials market, owing to its safety features, high cycle life, and cost-effectiveness. These batteries are less prone to overheating and provide stability even at high temperatures, making them excellent for use in energy storage systems, electric buses, and certain electric automobiles. Furthermore, the increased emphasis on renewable energy integration and grid-scale energy storage systems is encouraging the development of lithium iron phosphate batteries, which are safe and durable. As the global focus on sustainability and energy efficiency grows, demand for lithium-ion battery materials, particularly those used in lithium iron phosphate batteries, is predicted to increase significantly.
“Electrolyte materials segment, by material, is estimated to account for the second largest share during the forecast period”
Electrolyte materials are expected to account for the second-largest share of the lithium-ion battery materials market due to their significance in battery performance and safety. Electrolytes allow lithium ions to flow between the anode and cathode, a process required for energy storage and discharge. As the need for high-performance lithium-ion batteries grows, especially in applications such as electric vehicles and energy storage systems, so does the need for innovative electrolyte materials. These compounds are critical to increasing battery efficiency, longevity, and safety. The expansion of the electrolyte segment will propel the overall lithium-ion battery materials market by driving innovations in electrolyte formulations, such as solid-state and high-voltage electrolytes, which improve battery performance and open up new application opportunities.
“North America region is estimated to account for the second largest share during the forecast period”
North America is expected to have the second-largest share of the lithium-ion battery materials market, owing to the region's strong demand for electric vehicles (EVs) and growing emphasis on renewable energy solutions. Government incentives to reduce carbon emissions and promote sustainable transportation are driving the EV market's growth, encouraging both manufacturers and consumers to use lithium-ion battery technologies. Furthermore, the increasing integration of renewable energy sources, such as solar and wind, needs effective energy storage solutions, driving up demand for lithium-ion batteries and their materials.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
• By Region: North America – 20%, Europe – 15%, Asia Pacific – 55%, Rest of World – 10%
Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), BASF SE (Germany), POSCO Future M (South Korea), and Tanaka Chemical Corporation (Japan) are some of the major players operating in the lithium-ion battery materials market. These players have adopted strategies such as acquisitions, expansions, and partnerships in order to increase their market share business revenue.
Research Coverage:
The report defines, segments, and projects the lithium-ion battery materials market based on application, battery chemistry, material, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, lithium-ion battery materials manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the lithium-ion battery materials market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (growth in production of lithium-ion batteries, surge in demand for consumer electronics), restraints (safety concerns regarding usage of gadgets or items installed with lithium-ion batteries, availability of substitutes), opportunities (growing R&D to enhance efficiency and upgrade lithium-ion batteries, decline in overall prices), and challenges (fluctuating raw material prices) influencing the growth of the lithium-ion battery materials market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the lithium-ion battery materials market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the lithium-ion battery materials market across varied regions.
• Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the lithium-ion battery materials market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), BASF SE (Germany), POSCO Future M (South Korea), Tanaka Chemical Corporation (Japan), Toda Kogyo Corp. (Japan), Resonac Holdings Corporation (Japan), L&F Co., Ltd. (South Korea), JFE Chemical Corporation (Japan), and 3M (US), and others in the lithium-ion battery materials market

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Table of Contents

1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 25
1.3 STUDY SCOPE 26
1.3.1 INCLUSIONS & EXCLUSIONS 26
1.3.2 YEARS CONSIDERED 27
1.3.3 CURRENCY CONSIDERED 27
1.3.4 UNIT CONSIDERED 27
1.4 LIMITATIONS 27
1.5 STAKEHOLDERS 28
1.6 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY DATA 30
2.1.1.1 Key data from secondary sources 30
2.1.2 PRIMARY DATA 30
2.1.2.1 Key data from primary sources 31
2.1.2.2 Breakdown of interviews with experts 31
2.2 DEMAND-SIDE MATRIX 32
2.3 MARKET SIZE ESTIMATION 32
2.3.1 BOTTOM-UP APPROACH 33
2.3.2 TOP-DOWN APPROACH 33
2.3.2.1 Calculations for supply-side analysis 34
2.4 GROWTH FORECAST 34
2.5 DATA TRIANGULATION 35
2.5.1 RESEARCH ASSUMPTIONS 36
2.5.2 RESEARCH LIMITATIONS 36
2.5.3 RISK ASSESSMENT 36
3 EXECUTIVE SUMMARY 37
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN LITHIUM-ION BATTERY MATERIALS MARKET 41
4.2 LITHIUM-ION BATTERY MATERIALS MARKET, BY REGION 41
4.3 LITHIUM-ION BATTERY MATERIALS MARKET, BY MATERIAL 42
4.4 LITHIUM-ION BATTERY MATERIALS MARKET, BY BATTERY CHEMISTRY 42
4.5 LITHIUM-ION BATTERY MATERIALS MARKET, BY APPLICATION 43
5 MARKET OVERVIEW 44
5.1 INTRODUCTION 44
5.2 MARKET DYNAMICS 44
5.2.1 DRIVERS 45
5.2.1.1 Increasing adoption of electric vehicles 45
5.2.1.2 Surging demand for consumer electronics 45
5.2.2 RESTRAINTS 45
5.2.2.1 Safety concerns related to gadgets with lithium-ion batteries 45
5.2.2.2 Availability of substitutes 45
5.2.3 OPPORTUNITIES 46
5.2.3.1 Growing R&D to upgrade lithium-ion batteries 46
5.2.3.2 Declining lithium-ion battery prices 46
5.2.4 CHALLENGES 47
5.2.4.1 Fluctuating raw material prices 47
6 INDUSTRY TRENDS 48
6.1 GLOBAL MACROECONOMIC OUTLOOK 48
6.1.1 GDP 48
6.1.2 RISING ADOPTION OF ELECTRIC VEHICLES 50
6.2 VALUE CHAIN ANALYSIS 51
6.3 ECOSYSTEM ANALYSIS 52
6.4 PORTER’S FIVE FORCES ANALYSIS 53
6.4.1 BARGAINING POWER OF SUPPLIERS 54
6.4.2 BARGAINING POWER OF BUYERS 54
6.4.3 THREAT OF NEW ENTRANTS 54
6.4.4 THREAT OF SUBSTITUTES 55
6.4.5 INTENSITY OF COMPETITIVE RIVALRY 55
6.5 PRICING ANALYSIS 55
6.5.1 AVERAGE SELLING PRICE OF LITHIUM CARBONATE, BY REGION 55
6.5.2 AVERAGE SELLING PRICE OF COBALT, BY REGION 56
6.5.3 AVERAGE SELLING PRICE OF NICKEL, BY REGION 56
6.5.4 AVERAGE SELLING PRICE, BY METAL 57
6.6 TARIFF AND REGULATORY LANDSCAPE 57
6.6.1 TARIFF DATA 57
6.6.2 REGULATORY LANDSCAPE 57
6.6.2.1 Regulatory bodies, government agencies, and other organizations 58
6.7 KEY CONFERENCES AND EVENTS, 2024–2025 59
6.8 KEY STAKEHOLDERS AND BUYING CRITERIA 60
6.8.1 KEY STAKEHOLDERS IN BUYING PROCESS 60
6.8.2 BUYING CRITERIA 60
 
6.9 PATENT ANALYSIS 61
6.9.1 METHODOLOGY 61
6.9.2 MAJOR PATENTS 62
6.10 TECHNOLOGY ANALYSIS 63
6.10.1 KEY TECHNOLOGIES 63
6.10.1.1 High-nickel cathodes 63
6.10.2 COMPLEMENTARY TECHNOLOGIES 64
6.10.2.1 Lithium metal batteries 64
6.11 TRADE ANALYSIS 64
6.11.1 IMPORT SCENARIO (HS CODE 850650) 64
6.11.2 EXPORT SCENARIO (HS CODE 850650) 65
6.12 CASE STUDY ANALYSIS 66
6.12.1 HITACHI’S LESS-VOLATILE ELECTROLYTE ELIMINATES NEED FOR COOLING SYSTEM IN BATTERIES 66
6.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 66
6.14 INVESTMENT AND FUNDING SCENARIO 67
6.15 IMPACT OF GENERATIVE AI ON LITHIUM-ION BATTERY MATERIALS MARKET 67
6.15.1 INTRODUCTION 67
6.15.2 IMPACT OF GENERATIVE AI 67
6.15.2.1 Enhanced manufacturing efficiency 68
6.15.2.2 Reduced material waste 68
6.15.2.3 Improved quality control 68
7 LITHIUM-ION BATTERY MATERIALS MARKET, BY MATERIAL 69
7.1 INTRODUCTION 70
7.2 ANODE MATERIALS 71
7.2.1 GROWING DEMAND FOR LITHIUM-ION BATTERIES TO BOOST MARKET 71
7.3 CATHODE MATERIALS 72
7.3.1 GROWING DEMAND FOR ELECTRIC VEHICLES TO DRIVE MARKET 72
7.4 ELECTROLYTE MATERIALS 74
7.4.1 NEED FOR ENHANCED BATTERY OUTPUT TO DRIVE MARKET 74
7.5 OTHER MATERIALS 75
8 LITHIUM-ION BATTERY MATERIALS MARKET, BY APPLICATION 77
8.1 INTRODUCTION 78
8.2 PORTABLE DEVICES 79
8.2.1 RAPID TECHNOLOGICAL CHANGES TO DRIVE DEMAND 79
8.3 ELECTRIC VEHICLES 80
8.3.1 GOVERNMENT EFFORTS TO PROMOTE CLEAN ENERGY SOLUTIONS TO DRIVE SEGMENT 80
8.4 INDUSTRIAL 82
8.4.1 FOCUS ON ENVIRONMENTAL SAFETY AND EQUIPMENT DURABILITY TO INCREASE DEMAND 82
8.5 OTHER APPLICATIONS 83
9 LITHIUM-ION BATTERY MATERIALS MARKET, BY BATTERY CHEMISTRY 85
9.1 INTRODUCTION 86
9.2 LITHIUM NICKEL MANGANESE COBALT 88
9.2.1 HIGH CHARGE & DISCHARGE LIFE TO DRIVE MARKET 88
9.3 LITHIUM IRON PHOSPHATE 89
9.3.1 COST-EFFECTIVENESS AND SUPERIOR PERFORMANCE TO DRIVE DEMAND 89
9.4 LITHIUM MANGANESE OXIDE 90
9.4.1 EXCELLENT SAFETY CHARACTERISTICS TO BOOST MARKET 90
9.5 LITHIUM NICKEL COBALT ALUMINUM OXIDE 92
9.5.1 SUPERIOR CYCLE LIFE TO BOOST DEMAND 92
9.6 LITHIUM COBALT OXIDE 93
9.6.1 WIDE ADOPTION IN CONSUMER ELECTRONICS TO DRIVE MARKET 93
10 LITHIUM-ION BATTERY MATERIALS MARKET, BY REGION 95
10.1 INTRODUCTION 96
10.2 EUROPE 97
10.2.1 GERMANY 103
10.2.1.1 Growing demand for electric vehicles to drive market 103
10.2.2 UK 104
10.2.2.1 Rising sales of electric vehicles to drive demand 104
10.2.3 FRANCE 106
10.2.3.1 Increasing demand in automotive and marine industries to boost market 106
10.2.4 REST OF EUROPE 107
10.3 ASIA PACIFIC 108
10.3.1 CHINA 114
10.3.1.1 Growing production of electric vehicles to drive demand 114
10.3.2 JAPAN 115
10.3.2.1 Presence of leading lithium-ion battery manufacturers to propel market 115
10.3.3 INDIA 117
10.3.3.1 Development of smart cities to drive market 117
10.3.4 SOUTH KOREA 118
10.3.4.1 Government efforts to increase adoption of electric vehicles to fuel market 118
10.3.5 REST OF ASIA PACIFIC 119
10.4 NORTH AMERICA 121
10.4.1 US 126
10.4.1.1 Rising demand for electric vehicles to fuel market 126
10.4.2 CANADA 127
10.4.2.1 Government subsidies for electric vehicles to boost market 127
10.4.3 MEXICO 129
10.4.3.1 Growing demand in automotive sector to drive market 129
10.5 REST OF WORLD 130
10.5.1 SOUTH AMERICA 134
10.5.1.1 Large lithium reserves to create market opportunities 134
10.5.2 MIDDLE EAST & AFRICA 136
10.5.2.1 Consumer goods and automobile industries to drive demand 136
11 COMPETITIVE LANDSCAPE 138
11.1 INTRODUCTION 138
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN (JANUARY 2020–JULY 2024) 138
11.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY MARKET PLAYERS (JANUARY 2020–JULY 2024) 138
11.3 REVENUE ANALYSIS, 2019–2023 139
11.4 MARKET SHARE ANALYSIS, 2023 140
11.4.1 BASF SE (GERMANY) 141
11.4.2 POSCO FUTURE M (SOUTH KOREA) 141
11.4.3 UMICORE (BELGIUM) 141
11.4.4 SUMITOMO METAL MINING CO., LTD. (JAPAN) 142
11.4.5 RESONAC HOLDINGS CORPORATION (JAPAN) 142
11.5 BRAND/PRODUCT COMPARISON 142
11.5.1 UMICORE 143
11.5.2 SUMITOMO METAL MINING CO., LTD. 143
11.5.3 BASF SE 143
11.5.4 POSCO FUTURE M 143
11.5.5 TANAKA CHEMICAL CORPORATION 143
11.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 143
11.6.1 STARS 143
11.6.2 EMERGING LEADERS 143
11.6.3 PERVASIVE PLAYERS 144
11.6.4 PARTICIPANTS 144
11.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 145
11.6.5.1 Company footprint 145
11.6.5.2 Region footprint 145
11.6.5.3 Material footprint 146
11.6.5.4 Battery chemistry footprint 147
11.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 148
11.7.1 PROGRESSIVE COMPANIES 148
11.7.2 RESPONSIVE COMPANIES 148
11.7.3 DYNAMIC COMPANIES 148
11.7.4 STARTING BLOCKS 148
 
11.7.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023 149
11.7.5.1 Lithium-ion battery materials market: Detailed list of key startups/SMEs, 2023 149
11.7.5.2 Lithium-ion battery materials market: Competitive benchmarking of key startups/SMEs, 2023 150
11.8 COMPANY VALUATION AND FINANCIAL METRICS 151
11.9 COMPETITIVE SCENARIO 152
11.9.1 DEALS 152
11.9.2 EXPANSIONS 153
12 COMPANY PROFILES 154
12.1 KEY PLAYERS 154
12.1.1 UMICORE 154
12.1.1.1 Business overview 154
12.1.1.2 Products offered 155
12.1.1.3 Recent developments 156
12.1.1.3.1 Deals 156
12.1.1.3.2 Expansions 156
12.1.1.4 MnM view 157
12.1.1.4.1 Right to win 157
12.1.1.4.2 Strategic choices 157
12.1.1.4.3 Weaknesses and competitive threats 157
12.1.2 SUMITOMO METAL MINING CO., LTD. 158
12.1.2.1 Business overview 158
12.1.2.2 Products offered 159
12.1.2.3 Recent developments 159
12.1.2.3.1 Deals 159
12.1.2.3.2 Expansions 159
12.1.2.4 MnM view 160
12.1.2.4.1 Right to win 160
12.1.2.4.2 Strategic choices 160
12.1.2.4.3 Weaknesses and competitive threats 160
12.1.3 BASF SE 161
12.1.3.1 Business overview 161
12.1.3.2 Products offered 162
12.1.3.3 Recent developments 163
12.1.3.3.1 Deals 163
12.1.3.3.2 Expansions 164
12.1.3.4 MnM view 164
12.1.3.4.1 Right to win 164
12.1.3.4.2 Strategic choices 164
12.1.3.4.3 Weaknesses and competitive threats 164
 
12.1.4 POSCO FUTURE M 165
12.1.4.1 Business overview 165
12.1.4.2 Products offered 166
12.1.4.3 Recent developments 167
12.1.4.3.1 Deals 167
12.1.4.3.2 Expansions 168
12.1.4.4 MnM view 169
12.1.4.4.1 Right to win 169
12.1.4.4.2 Strategic choices 169
12.1.4.4.3 Weaknesses and competitive threats 169
12.1.5 TANAKA CHEMICAL CORPORATION 170
12.1.5.1 Business overview 170
12.1.5.2 Products offered 171
12.1.5.3 MnM view 171
12.1.5.3.1 Right to win 171
12.1.5.3.2 Strategic choices 171
12.1.5.3.3 Weaknesses and competitive threats 171
12.1.6 TODA KOGYO CORP. 172
12.1.6.1 Business overview 172
12.1.6.2 Products offered 173
12.1.6.3 Recent developments 173
12.1.6.3.1 Expansions 173
12.1.7 RESONAC HOLDINGS CORPORATION 174
12.1.7.1 Business overview 174
12.1.7.2 Products offered 175
12.1.8 L&F CO., LTD. 176
12.1.8.1 Business overview 176
12.1.8.2 Products offered 177
12.1.8.3 Recent developments 177
12.1.8.3.1 Expansions 177
12.1.9 JFE CHEMICAL CORPORATION 178
12.1.9.1 Business overview 178
12.1.9.2 Products offered 178
12.1.10 3M 179
12.1.10.1 Business overview 179
12.1.10.2 Products offered 180
12.1.11 SGL CARBON 181
12.1.11.1 Business overview 181
12.1.11.2 Products offered 182
12.1.12 NEI CORPORATION 183
12.1.12.1 Business overview 183
12.1.12.2 Products offered 183
12.1.13 KUREHA CORPORATION 184
12.1.13.1 Business overview 184
12.1.13.2 Products offered 185
12.1.14 BTR NEW MATERIAL GROUP CO., LTD. 186
12.1.14.1 Business overview 186
12.1.14.2 Products offered 186
12.1.14.3 Recent developments 186
12.1.14.3.1 Deals 186
12.1.14.3.2 Expansions 187
12.1.15 UBE CORPORATION 188
12.1.15.1 Business overview 188
12.1.15.2 Products offered 189
12.1.15.3 Recent developments 190
12.1.15.3.1 Deals 190
12.1.16 KURARAY CO., LTD. 191
12.1.16.1 Business overview 191
12.1.16.2 Products offered 192
12.1.17 SHENZHEN DYNANONIC CO., LTD. 193
12.1.17.1 Business overview 193
12.1.17.2 Products offered 193
12.1.18 ZHEJIANG HUAYOU COBALT 194
12.1.18.1 Business overview 194
12.1.18.2 Products offered 195
12.1.18.3 Recent developments 196
12.1.18.3.1 Deals 196
12.1.19 AMERICAN ELEMENTS 197
12.1.19.1 Business overview 197
12.1.19.2 Products offered 197
12.1.20 MORITA CHEMICAL INDUSTRIES CO., LTD. 198
12.1.20.1 Business overview 198
12.1.20.2 Products offered 198
12.2 OTHER PLAYERS 199
12.2.1 ECOPRO BM 199
12.2.2 CAPCHEM 199
12.2.3 NICHIA CORPORATION 200
12.2.4 ASCEND ELEMENTS, INC. 200
12.2.5 PULEAD TECHNOLOGY INDUSTRY CO., LTD. 201
 
13 ADJACENT AND RELATED MARKETS 202
13.1 INTRODUCTION 202
13.2 LIMITATIONS 202
13.3 INTERCONNECTED MARKETS 202
13.4 LITHIUM-ION BATTERY MARKET 202
13.4.1 MARKET DEFINITION 202
13.4.2 MARKET OVERVIEW 202
13.4.3 LITHIUM-ION BATTERY MARKET, BY VOLTAGE 203
13.4.3.1 Low 203
13.4.3.1.1 Built-in battery management to drive demand in consumer electronics 203
13.4.3.2 Medium 204
13.4.3.2.1 Rising adoption in solar energy systems to drive market 204
13.4.3.3 High 204
13.4.3.3.1 Enhanced safety features to boost demand in marine and military sectors 204
14 APPENDIX 205
14.1 DISCUSSION GUIDE 205
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 207
14.3 CUSTOMIZATION OPTIONS 209
14.4 RELATED REPORTS 209
14.5 AUTHOR DETAILS 210