The report “Lithium-ion Battery Materials Market by Battery Chemistry (LFP, LCO, NMC, NCA, LMO), Material (Cathode, Anode, Electrolyte), Application (Portable Device, Electric Vehicle, Industrial, Power Tool, Medical Device), & Region – Global Forecast to 2029″, 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 refers to the industry that manufactures and supplies necessary components for lithium-ion batteries, which are important for a variety of applications due to their high energy density and efficiency. This market includes a variety of materials such as cathodes, anodes, electrolytes, and separators, all of which contribute to the functionality of lithium-ion batteries. These batteries have numerous uses, including portable electronics such as smartphones, laptops, and tablets, as well as electric vehicles (EVs) and energy storage systems that promote renewable energy integration.

Key Market Players

Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), BASF SE (Germany), POSCO Future M (South Korea), and Tanaka Chemical Corporation (Japan), among others.

Asia Pacific is projected to register the largest market share during the forecast period.

Asia Pacific is estimated to lead the market during the forecast period. The Asia-Pacific region is expected to have the largest market share in the lithium-ion battery materials market due to numerous factors. This region is home to significant battery manufacturers and has emerged as a global hub for lithium-ion battery production, with China, South Korea, and Japan at the forefront. The region’s strong demand for electric cars (EVs) and consumer electronics, together with government regulations that promote green energy and electric mobility, is propelling the lithium-ion battery industry forward.