Global Ni-Co-Mn Ternary Precursors Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.9 Billion by 2030, growing at a CAGR of 17.0% from 2024 to 2030.
Ni-Co-Mn Ternary Precursors Market: Accelerating Growth and Innovations in Battery Technologies
The Ni-Co-Mn (Nickel-Cobalt-Manganese) ternary precursor market is witnessing substantial growth due to the increasing demand for high-energy-density batteries, particularly for electric vehicles (EVs) and renewable energy storage. Ternary cathode materials, which are derived from these elements, are crucial in enhancing the performance, stability, and longevity of lithium-ion batteries (LIBs). As countries and corporations race towards carbon neutrality, the focus on sustainable and efficient battery technologies has intensified, driving market expansion.
By 2026, the global Ni-Co-Mn ternary precursors market is projected to reach over USD 10 billion, fueled by advancements in battery chemistries and improvements in manufacturing techniques. Notably, the demand for EVs, coupled with the growth of energy storage systems, is expected to significantly bolster the need for these high-performance materials. Market leaders are innovating to produce ternary materials with higher energy densities, lower costs, and better safety features. For instance, the development of high-nickel cathode materials is aimed at improving battery performance, making them more suitable for long-range EVs and large-scale grid storage applications.
Geographically, the Asia-Pacific region dominates the market due to its vast manufacturing base, particularly in China, South Korea, and Global. These countries are not only the major producers of Ni-Co-Mn ternary precursors but also consume them heavily for their thriving EV and electronics industries. As these markets expand, the procurement of raw materials like nickel and cobalt becomes increasingly competitive, sparking concerns over supply chain stability and ethical sourcing practices. Companies are focusing on recycling technologies and alternatives to ensure a steady supply of materials without compromising on quality.
In the years to come, innovations in refining techniques and production processes will likely make ternary precursors more cost-efficient, ensuring their broader adoption in the global energy and transportation sectors.
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Umicore
Brunp Recycling
Tanaka Chemical Corporation
Cngr Advanced Material
Huayou Cobalt
Gem Co.
Ltd.
Guangdong Dowstone Technology
Guangdong Fangyuan Environment
HENAN KELONG NEW ENERGY
Beijing Easpring Material Techgy
Greatpower Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Ni-Co-Mn Ternary Precursors Market
New Energy Vehicles
3C Electronics
Others
Based on Types the Market is categorized into Below types that held the largest Ni-Co-Mn Ternary Precursors market share In 2023.
NCM523 Type Ternary Precursors
NCM622 Type Ternary Precursors
NCM811 Type Ternary Precursors
NCM111 Type Ternary Precursors
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Ni-Co-Mn Ternary Precursors Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Ni-Co-Mn Ternary Precursors Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Ni-Co-Mn Ternary Precursors Market, By Type
6. Global Ni-Co-Mn Ternary Precursors Market, By Application
7. Global Ni-Co-Mn Ternary Precursors Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Ni-Co-Mn Ternary Precursors Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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