According to LookWhole Insight, the global precursormaterials market is valued at USD 17,120 million in 2024. By 2033, the marketis projected to reach USD 63,114 million, growing at a compound annual growthrate (CAGR) of 15.60%.
Precursor Materials Market Analysis
Therapid development of the precursor materials market is largely supported by thebroad application of cathode and anode materials, whose growth is directlylinked to the widespread use of various types of batteries across multipleend-user markets. LookWhole Insight reports that the global cathode materialsmarket is also expanding rapidly, with global shipments expected to reach 3.69million tons in 2024, 4.72 million tons in 2025, and 5.68 million tons in 2026.
Theanode materials market for lithium batteries is also growing swiftly. In 2023,global shipments of lithium battery anode materials reached 1.783 million tons,a year-on-year increase of 15.1%. The increasing adoption of lithium-ionbatteries in consumer electronics and large-scale deployment in electricvehicles (EVs) has led to a sharp rise in demand for anode materials. LookWholeInsight predicts that global anode material shipments will exceed 8 milliontons by 2030.
Inthe Chinese market, anode material shipments reached 1.697 million tons in2023, accounting for 95.2% of the global market, indicating strong domesticdemand. The booming new energy vehicle (NEV) market is further propelling thistrend. The anode materials market is expected to maintain rapid growth over thecoming years.
Key DevelopmentTrends
Global Precursor MaterialsMarket: Competitive Landscape
Accordingto LookWhole Insight, the precursor materials market is primarily concentratedin Asia, North America, and Europe. Asia is the leading region for both theproduction and consumption of precursor materials. China, Japan, and SouthKorea hold significant competitive advantages in this field. These countriesnot only possess abundant raw material resources but also leverage advancedproduction processes and large-scale industrialization to secure a major shareof the global precursor market.
WhileNorth America and Europe may lag behind Asia in production scale, they maintaina notable presence in the global market through technological innovation anddemand from high-end segments. Major players in the precursor materials sectorinclude ECOPRO and LG Chem from South Korea, Tanaka Chemical and Sumitomo MetalMining from Japan, and Umicore from Belgium. These companies hold significantglobal market positions due to their leading technologies and stable supplychains. Competition in the market centers on high-performance products,environmentally friendly processes, and supply chain stability.
InChina, the precursor materials market is highly concentrated and dominated by afew large enterprises. Leading players include CNGR Advanced Material, GEM,Huayou Cobalt, Ronbay Technology, Brunp Recycling, Canmax, Jinchuan Group,Changyuan Lico, KLK New Energy, Fangyuan, Zhejiang Longsheng, Ganfeng Lithium,Easpring, and Do-Fluoride. These companies have built strong competitiveadvantages in the domestic market through robust R&D capabilities,large-scale production, and extensive resource integration.
Themarket concentration is relatively high, with competition among leading firmsfocused on technological innovation, product quality, and market coverage.Moreover, these companies are actively expanding into overseas markets tofurther consolidate their global competitiveness.
Market Report Coverage & Segmentation
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ATTRIBUTE |
Details |
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Time Coverage |
Historical Year: 2020– 2024 Base Year: 2024 Estimated Year: 2025 Forecast Year: 2025 - 2033 |
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Market Segmentation |
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By Type |
NCM Type NCA Type Others |
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By Application |
Positive electrode materials Negative electrode materials Others |
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By Company |
CNGR Advanced Material Co.,Ltd. GEM Co.,Ltd. ZHEJIANG HUAYOU COBALT CO., LTD Bruno Technologies Limited Bruno Recycling Limited Jieneng New Energy Co., Ltd. Jinchuan Group Limited Longyuan Lithium Co., Ltd. Klons New Energy Co., Ltd. Fangyuan Advanced Material Co., Ltd. Zhejiang Longsheng Co., Ltd. Ganfeng Lithium Co., Ltd. Easpring Advanced Material Co., Ltd. DoTech Co., Ltd. ECOPRO Co., Ltd. LG Chem, Ltd. Sumitomo Metal Mining Co., Ltd. Tanaka Chemical Co., Ltd. Umicore Group |
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By Region |
North America |
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