Global Ternary Cathode NCM Material Market Growth 2025-2031

The global Ternary Cathode NCM Material market size is predicted to grow from US$ 9315 million in 2025 to US$ 29100 million in 2031; it is expected to grow at a CAGR of 20.9% from 2025 to 2031.

Ternary Cathode NCM Material (Nickel-Cobalt-Aluminum Oxide) refers positive electrode material for lithium-ion batteries, mainly composed of nickel, cobalt and aluminum elements. The ratio of Ni, Co and Al can be adjusted to obtain different performances. This material has the advantages of high energy density, good cycle life and high voltage platform, so it has been widely used in the field of lithium-ion batteries.

Market Development Overview:

The global Ternary Cathode NCM Material market is in a period of rapid growth. With the continuous increase in the penetration rate of new energy vehicles, the demand for power batteries has surged, driving the rapid growth of NCM material demand.

Regional Analysis:

Asia is the world's largest Ternary Cathode NCM Material production and consumption market, with China occupying a dominant position. China has a complete lithium battery industry chain, and its NCM material production capacity accounts for more than 70% of the world. Japan and South Korea have technological advantages in the field of high-end NCM materials. The European new energy vehicle market is developing rapidly, and there is a strong demand for NCM materials. However, the local NCM material production capacity in Europe is limited and mainly relies on imports. The demand for NCM materials in the North American market mainly comes from Tesla and other car companies. The US government actively promotes the localization of lithium battery production, and the production capacity of NCM materials is expected to increase in the future.

Price Analysis:

The price of Ternary Cathode NCM Material is greatly affected by the price fluctuations of metals such as nickel, cobalt, and manganese. In recent years, affected by supply and demand, geopolitics and other factors, the prices of metals such as nickel and cobalt have fluctuated sharply, resulting in large fluctuations in the price of NCM materials. In the future, with the development of the trend of high nickel and low cobalt, the impact of cobalt prices on NCM material prices will gradually weaken.

Market competition analysis:

The global Ternary Cathode NCM Material market has a high degree of concentration and is mainly occupied by Chinese, Japanese and Korean companies. Chinese companies dominate the mid- and low-end markets with their cost advantages and scale effects. Japanese and Korean companies have technical advantages in the field of high-end NCM materials and mainly supply international mainstream car companies.

Market development opportunities and risks:

The new energy vehicle market continues to grow at a high speed, driving the rapid growth of NCM material demand. The energy storage market has great potential and provides new growth points for NCM materials. The development of new technologies such as high nickel and low cobalt, single crystal, etc., promotes the performance improvement and cost reduction of NCM materials. Risk of price fluctuations of metals such as nickel and cobalt. Risk of technological route change, such as the risk of substitution of NCM materials by new technologies such as solid-state batteries.

Risk of intensified industry competition and reduced profitability of enterprises.

LP Information, Inc. (LPI) ' newest research report, the “Ternary Cathode NCM Material Industry Forecast” looks at past sales and reviews total world Ternary Cathode NCM Material sales in 2024, providing a comprehensive analysis by region and market sector of projected Ternary Cathode NCM Material sales for 2025 through 2031. With Ternary Cathode NCM Material sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Ternary Cathode NCM Material industry.

This Insight Report provides a comprehensive analysis of the global Ternary Cathode NCM Material landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Ternary Cathode NCM Material portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Ternary Cathode NCM Material market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Ternary Cathode NCM Material and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Ternary Cathode NCM Material.

This report presents a comprehensive overview, market shares, and growth opportunities of Ternary Cathode NCM Material market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
NCM333
NCM523
NCM622
NCM811

Segmentation by Application:
New Energy Power Battery
3C Digital Product Battery
Energy Storage Battery

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Sumitomo Metal Mining Co
NICHIA CORPORATION
MINMETALS NEW ENERGY MATERIALS(HUNAN)CO.,LTD
RONBAY TECHNOLOGY
Beijing Easpring Material Technology Co., Ltd
Guizhou Zhenhua E-Chem Inc
Ningbo Shanshan Co., Ltd
XTC NEW ENERGY MATERIALS（XIAMEN） CO.,LTD
Tianjin B&M Science and Technologs Co..Ltd
GEM Co., Ltd

Key Questions Addressed in this Report

What is the 10-year outlook for the global Ternary Cathode NCM Material market?

What factors are driving Ternary Cathode NCM Material market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Ternary Cathode NCM Material market opportunities vary by end market size?

How does Ternary Cathode NCM Material break out by Type, by Application?

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