Lithium-Ion Battery Materials Market worth $95.34 billion by 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Feb. 5, 2026 /PRNewswire/ -- According to MarketsandMarkets, "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 2030", the global lithium-ion battery materials market is projected to grow from USD 48.29 billion in 2025 to USD 95.34 billion by 2030, at a CAGR of 14.6% during the forecast period. Key drivers of the lithium-ion battery materials market are the increasing adoption of electric vehicles and the surging demand for consumer electronics.
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Lithium-Ion Battery Materials Market Size & Forecast:
- Market Size Available for Years: 2021-2030
- 2025 Market Size: USD 48.29 billion
- 2030 Projected Market Size: USD 95.34 billion
- CAGR (2025-2030): 14.6%
Lithium-Ion Battery Materials Market Trends & Insights:
- Increase in demand for EVs and consumer electronics products leads to an increase in demand for lithium-ion batteries, which directly leads to higher requirements for lithium-ion battery materials. The widespread installation of energy storage systems for renewable energy integration purposes has increased the need for advanced battery materials. The ongoing development of battery technology, which produces better energy density and longer battery life, and faster charging capabilities, has created material requirements for automotive, industrial, and grid-scale applications.
- The Europe is expected to register the highest CAGR (15.8%) during the forecast period.
- By battery chemistry, the lithium iron phosphate (LFP) segment is expected to register the highest CAGR (18.9%) during the forecast period.
- By material, the cathode material segment accounted for a 51.3% share of the market in 2024.
- By application, electric vehicle is expected to dominate the market.
- Umicore, POSCO Future M, and BASF were identified as some of the star players in the lithium-ion battery materials market, given their strong market share and product footprint.
- EcoPro BM, Capchem, and Ascend Elements, Inc. have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders.
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By battery materials, cathode material is expected to dominate the global market throughout the forecast period.
The cathode materials segment will be the largest segment during the forecast period. Cathode materials serve as the main active element in lithium-ion cells, directly influencing performance through capacity, lifespan, thermal stability, and power output. The rising adoption of EVs and grid storage solutions continues to drive strong demand for advanced cathode chemistries, such as nickel-rich NMC and lithium iron phosphate (LFP), that balance performance, safety, and cost, further establishing this segment as the leading part of the entire battery materials market. Battery manufacturers make significant investments while the supply chain expands throughout Asia Pacific and other important regions to support this market leadership.
By battery chemistry, NMC is expected to dominate the global lithium-ion battery materials market during the forecast period.
The NMC chemistry is the leading segment and is projected to continue the same trend throughout the forecast period due to its extensive use in emerging applications that deliver balanced performance. It provides electric vehicle and large-scale energy storage systems with an advantageous solution, combining high energy density with extended cycle life and exceptional thermal stability. Manufacturers want to use NMC as their primary material because it enables them to produce products that meet diverse automotive powertrain and consumer electronics needs while keeping production costs low and ensuring safe product functionality. The NMC segment controls the market because it delivers superior value to customers that require advanced lithium-ion batteries for electrification and renewable energy systems.
Asia Pacific is poised to dominate the global lithium-ion battery materials market throughout the forecast period.
Asia Pacific will dominate the lithium-ion battery materials market during the forecast period, with the highest market share and the fastest value growth, driven by rising demand for innovative energy storage technologies. The region leads the market because it has a strong battery production network that includes major manufacturers from China, Japan, South Korea, and India, and operates through established supply networks, extensive manufacturing capacity, and both public and private-sector financial backing. The region maintains its leadership position because electric vehicles (EVs) show strong growth and people widely utilize consumer electronics and renewable energy storage systems continue to expand, which drive the demand for lithium-ion battery materials. The region has experienced fast development of battery cell gigafactories and raw material processing plants because of policies and incentives that support electrification and local production. Asia Pacific will continue to lead the global lithium-ion battery materials market throughout the forecast period because it will generate the most revenue for the industry while determining how the sector will develop.
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Key Players
Key players in this market include Umicore (Belgium), Sumitomo Metal Mining Co., Ltd. (Japan), BASF (Germany), POSCO Future M (South Korea), Tanaka Chemical Corporation (Japan), Toda Kogyo Corp. (Japan), Resonac Holdings Corporation (Japan), LANDF Corp (China), JFE Chemical Corporation (China), 3M (US), SGL Carbon (Germany), NEI Corporation (US), BTR New Materials Group Co., Ltd. (China), UBE Corporation (Japan), Kuraray Co., Ltd. (Japan), Shenzhen Dynanonic Co., Ltd. (China), Huayou Cobalt Co., Ltd. (China), American Elements (US), Morita Chemical Industries Co., Ltd. (Japan), and others.
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