Nickel Cobalt Manganese Compound Precursor

Nickel Cobalt Manganese Compound Precursor Market Outlook

The global Nickel Cobalt Manganese (NCM) compound precursor market is projected to grow significantly, reaching an estimated value of $1.2 billion by 2035, expanding at a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2025 to 2035. This growth is primarily driven by the surging demand for electric vehicles (EVs) and renewable energy storage solutions, which require high-performance batteries manufactured using NCM precursors. Additionally, technological advancements in battery technologies and the increasing adoption of sustainable energy solutions further contribute to market expansion. The rise in governmental support and investments in clean energy infrastructure is expected to propel the market growth for nickel cobalt manganese compounds, as manufacturers and consumers alike seek more efficient and environmentally friendly energy alternatives.

Growth Factor of the Market

The Nickel Cobalt Manganese compound precursor market is experiencing robust growth driven by several key factors. Firstly, the shift towards electric and hybrid vehicles is creating a substantial demand for high-capacity batteries, which require advanced NCM precursors. As countries implement stricter emission regulations and promote clean transportation options, the automotive industry is rapidly adopting these technologies. Moreover, the expansion of renewable energy sources, including solar and wind power, has increased the need for energy storage systems, further boosting the demand for NCM-based batteries. Another critical aspect is the ongoing R&D efforts aimed at improving battery efficiency, lifespan, and safety, which are heavily reliant on the use of nickel cobalt manganese compounds. Lastly, the increasing production of consumer electronics fuels the market, as these devices also demand high-performance batteries.

Key Highlights of the Market

• Projected global market size of $1.2 billion by 2035 with an 8.5% CAGR.
• Significant growth driven by electric vehicle adoption and renewable energy storage needs.
• Technological advancements enhancing battery performance and safety.
• Rising investments in clean energy infrastructure across various regions.
• Growing consumer electronics market further fueling demand for NCM compounds.

By Product Type

Nickel Cobalt Manganese Oxide:

Nickel Cobalt Manganese Oxide (NCMO) is one of the most commonly used precursors in the production of lithium-ion batteries, particularly in electric vehicles. Its unique composition allows for improved thermal stability and energy density compared to other materials. NCMO enhances battery performance by providing a more stable structure that can withstand prolonged usage and high temperatures. The increasing demand for high-performance batteries drives the production and consumption of NCMO, making it a critical product type in the nickel cobalt manganese compound precursor market. Furthermore, advancements in manufacturing technologies are improving the quality of NCMO, contributing to its growing application across various sectors.

Nickel Cobalt Manganese Hydroxide:

Nickel Cobalt Manganese Hydroxide (NCMH) is emerging as a vital material due to its high capacity and stability in battery applications. This precursor is particularly favored in the manufacturing of nickel-metal hydride batteries and lithium-ion batteries. NCMH is known for its ability to enhance energy density while maintaining cycle stability, making it ideal for both consumer electronics and automotive applications. As battery manufacturers continue to seek ways to improve performance and sustainability, the demand for NCMH is likely to escalate. Additionally, the growing focus on electric mobility is expected to bolster the market for NCMH, as automotive battery technologies evolve to meet increasing performance standards.

Nickel Cobalt Manganese Carbonate:

Nickel Cobalt Manganese Carbonate (NCMC) is another important precursor, recognized for its unique benefits in battery chemistry. NCMC offers an advantageous combination of nickel, cobalt, and manganese in a carbonate form, which allows for greater flexibility in battery design and performance enhancement. Its usage is particularly relevant in the production of high-performance lithium-ion batteries, as it helps in achieving better energy density and charge-discharge rates. With the rise in demand for batteries in sectors like electric vehicles and portable electronics, the NCMC segment is increasingly gaining traction. The growing trend of resource recycling in battery production also supports the demand for NCMC, as it can be sourced from recycled materials.

Nickel Cobalt Manganese Nitrate:

Nickel Cobalt Manganese Nitrate (NCMN) is recognized for its application in battery precursors where high solubility and purity are required. This precursor is particularly useful in the synthesis of high-performance cathode materials, thus making it a critical component in lithium-ion batteries. NCMN facilitates enhanced charge capacity and stability, which are essential characteristics for high-performance batteries. The increasing focus on developing advanced battery chemistries is expected to drive the growth of NCMN in the coming years. Additionally, with the rise of smart technologies requiring efficient energy storage, the demand for NCMN is likely to see significant growth as manufacturers seek to improve overall battery efficiency.

Nickel Cobalt Manganese Sulfate:

Nickel Cobalt Manganese Sulfate (NCMS) is gaining prominence in the market due to its integration in lithium-ion battery production. It is known for its high purity and solubility, which are essential for producing high-quality cathode materials. NCMS is particularly useful in applications where energy density and thermal stability are paramount, making it a preferred choice among battery manufacturers. The increasing demand for electric vehicles and renewable energy storage systems is expected to boost the consumption of NCMS as more companies focus on developing advanced battery technologies. Furthermore, the emphasis on sustainable production methods enhances the attractiveness of NCMS, as it can be produced with lower environmental impact compared to other precursors.

By Application

Batteries:

The battery segment is the largest application area for nickel cobalt manganese compound precursors, particularly in the production of lithium-ion batteries. These batteries are essential for various applications, including electric vehicles, consumer electronics, and energy storage systems. The high energy density and stability of NCM precursors make them ideal for enhancing battery performance and lifecycle. With the growing adoption of electric vehicles and the need for efficient energy storage solutions, the demand for NCM-based batteries is expected to surge. Additionally, advancements in battery technologies and the shift towards sustainable energy sources are further propelling the growth of this application segment.

Catalysts:

NCM precursors are increasingly being utilized in catalytic applications, primarily in the production of chemical intermediates and refining processes. The unique properties of nickel, cobalt, and manganese allow for enhanced catalytic activity and selectivity, making them valuable in various industrial processes. The growing focus on sustainable and efficient chemical processes is driving the adoption of NCM-based catalysts. As industries seek to reduce their environmental footprint and improve process efficiencies, the demand for these catalysts is anticipated to rise. Furthermore, innovations in catalyst formulations and applications are likely to expand the market for NCM compounds in catalytic processes.

Magnetic Materials:

The use of nickel cobalt manganese compounds in magnetic materials is gaining traction due to their desirable magnetic properties. These materials are essential in various applications such as electronics, telecommunications, and medical devices. The demand for high-performance magnetic materials is driven by the increasing need for efficient energy solutions and advanced electronic devices. NCM compounds are particularly favored for their ability to provide high magnetic flux and stability. With the growth of industries relying on magnetic materials, the application of NCM precursors in this sector is expected to witness significant growth in the coming years.

Pigments:

In addition to their applications in batteries and catalysts, nickel cobalt manganese compounds are also utilized in the production of pigments. These pigments are used in a variety of industries, including paints, coatings, and plastics. The vibrant colors and stability offered by NCM-based pigments make them attractive for manufacturers. As environmental regulations become stricter and the demand for sustainable materials increases, the use of NCM pigments is expected to grow. Manufacturers are focusing on developing eco-friendly alternatives, further driving the demand for NCM compounds in pigments.

Others:

This category encompasses various other applications of nickel cobalt manganese compounds, including their use in research and development and specialized industrial processes. NCM compounds are being explored for their potential in novel applications such as energy storage technologies, fuel cells, and advanced manufacturing processes. As research continues to unveil new uses for these compounds, the 'Others' segment is anticipated to grow, driven by innovation and technological advancements. The expanding scope of applications will support the overall growth of the NCM precursor market.

By Distribution Channel

Online Stores:

Online stores have emerged as a crucial distribution channel for nickel cobalt manganese compound precursors, providing manufacturers and consumers with easy access to a wide range of products. The convenience of online shopping, coupled with the increasing adoption of digital platforms, has made it easier for customers to compare prices and specifications before making a purchase. Additionally, the online marketplace offers a broader selection of suppliers, allowing buyers to find specific products more efficiently. The rise in e-commerce is helping to drive demand for NCM precursors, particularly as more companies shift towards digital sales strategies and enhance their online presence.

Specialty Stores:

Specialty stores dedicated to chemical and material supplies cater to a niche market of customers looking for high-quality nickel cobalt manganese precursors. These stores often provide a curated selection of products, ensuring that customers have access to the latest and most reliable materials. The knowledgeable staff at specialty stores can also assist customers in identifying the best products for their specific applications. As industries adopt more advanced technologies and seek specialized materials, the demand for NCM precursors through specialty stores is anticipated to grow, driven by the need for expert guidance and high-quality products.

Direct Sales:

Direct sales channels are pivotal for the nickel cobalt manganese compound precursor market, allowing manufacturers to establish strong relationships with their customers. This approach provides customers with personalized service, tailored solutions, and often better pricing compared to traditional retail channels. Manufacturers utilize direct sales to offer technical support and guidance, ensuring that clients can effectively implement NCM precursors in their applications. As industries prioritize quality and reliability, direct sales channels are expected to gain traction, enhancing customer loyalty and satisfaction in the NCM precursor market.

Others:

This category includes various alternative distribution methods such as wholesalers and third-party distributors. These channels play a significant role in expanding the reach of nickel cobalt manganese compound precursors to diverse customer segments. Wholesalers often benefit from economies of scale, allowing them to offer competitive pricing and bulk purchasing options. Additionally, partnerships with distributors can facilitate market penetration in regions where manufacturers may not have a direct presence. As the demand for NCM precursors grows, utilizing multiple distribution channels will be essential for manufacturers to meet customer needs and enhance market visibility.

By Ingredient Type

Nickel:

Nickel is a primary ingredient in the production of nickel cobalt manganese compound precursors, playing a crucial role in enhancing battery performance. Its presence contributes to improved energy density and battery longevity, making it a key component for high-capacity batteries. As the electric vehicle market expands, the demand for nickel in NCM precursors is expected to increase significantly. Moreover, the rising emphasis on sustainable mining practices and recycling initiatives is likely to reshape the supply chain dynamics for nickel, further influencing its market presence in battery manufacturing.

Cobalt:

Cobalt is another essential ingredient in nickel cobalt manganese precursors, known for its ability to enhance thermal stability and charge capacity in batteries. The strategic importance of cobalt in the battery supply chain is underscored by its critical role in meeting the performance demands of next-generation lithium-ion batteries. However, the increasing scrutiny over ethical sourcing and environmental impacts associated with cobalt mining presents challenges for the industry. Manufacturers are actively exploring alternative materials and recycling methods to mitigate these concerns while sustaining cobalt's contribution to NCM precursors.

Manganese:

Manganese serves as a vital ingredient in NCM compounds, contributing to the overall structural integrity of battery cathodes. It helps improve battery performance and stability while being a cost-effective alternative to other precious metals. The growing focus on reducing production costs without compromising performance is driving the demand for manganese in NCM precursors. As the electric vehicle market continues to expand, the role of manganese in enhancing battery efficiency and lifecycle will remain significant, ensuring its relevance in the NCM precursor market.

Other Additives:

This category includes various other additives that complement nickel, cobalt, and manganese in the formulation of NCM precursors. These additives are essential for enhancing specific properties of the precursors, such as conductivity, stability, and thermal performance. Manufacturers are continually researching and developing innovative additives to improve the performance of NCM compounds. The demand for customized solutions and high-performance materials in battery applications is likely to drive the growth of this segment, as industries seek to optimize their products for better efficiency and sustainability.

By Region

The North American Nickel Cobalt Manganese compound precursor market is anticipated to witness substantial growth, fueled by the region's commitment to electric vehicle adoption and renewable energy initiatives. The electric vehicle market in North America is expected to reach $500 billion by 2035, significantly increasing the demand for NCM precursors. Government policies encouraging clean energy solutions and investments in battery manufacturing facilities are also contributing to this market growth. The CAGR for the North American market is projected to be around 9% during the forecast period, indicating a robust and expanding landscape for NCM compounds.

In the Asia Pacific region, the Nickel Cobalt Manganese compound precursor market is expected to dominate due to the presence of key manufacturers and a booming electric vehicle market. Countries like China, Japan, and South Korea are at the forefront of electric vehicle production and battery technology innovation, driving demand for NCM precursors. The Asia Pacific market is projected to reach approximately $800 million by 2035, with a CAGR of 8% during the analysis period. The increasing focus on reducing carbon emissions and implementing sustainable practices in battery production will further support market growth in this region.

Opportunities

The Nickel Cobalt Manganese compound precursor market is poised for numerous opportunities, primarily driven by the rapid expansion of the electric vehicle market. As countries across the globe implement stricter emission regulations and promote electrification, the demand for high-performance batteries will surge. This creates an ideal landscape for manufacturers of nickel cobalt manganese compounds to expand their production capacities and invest in R&D for advanced materials. Collaborative efforts between automakers and battery manufacturers can lead to innovative solutions and the development of new NCM formulations designed for specific applications. Furthermore, the increasing trend towards energy storage systems in residential and commercial sectors presents significant growth opportunities for NCM precursors, as they are critical components in battery systems that store renewable energy.

Another key opportunity lies in the ongoing research and development initiatives focused on sustainable materials and recycling technologies. As environmental concerns rise, there is a growing need for manufacturers to adopt eco-friendly practices in sourcing and production. Developing methods to recycle NCM precursors from end-of-life batteries can significantly reduce resource dependency and environmental impact. Moreover, innovations in battery technology, such as solid-state batteries that utilize NCM compounds, are expected to open new avenues for market growth. By capitalizing on these opportunities, companies in the NCM precursor market can strengthen their positions and ensure long-term sustainability.

Threats

Despite the promising outlook for the Nickel Cobalt Manganese compound precursor market, several threats could hinder its growth. One of the primary challenges is the volatility of raw material prices, particularly nickel and cobalt, which are subject to market fluctuations and geopolitical factors. These price changes can directly impact production costs and profit margins for manufacturers. Additionally, the reliance on cobalt sourced from regions with ethical and environmental concerns raises significant challenges. Increasing scrutiny and regulation around mining practices may prompt manufacturers to seek alternative materials or face reputational risks, affecting their competitiveness in the market.

Another potential threat is the rapid pace of technological advancements in battery technologies. As new chemistries are developed, such as sodium-ion or lithium-silicon batteries, the demand for traditional nickel cobalt manganese precursors may decline. Manufacturers must remain agile and responsive to these developments, or they risk being outpaced by competitors who can adapt more quickly. Furthermore, the emergence of substitute materials could pose a threat to the market, as industries explore alternatives to NCM compounds for their applications. Continuous innovation and adaptation will be crucial for companies in the NCM precursor market to navigate these challenges.

Competitor Outlook

• Nippon Yttrium Co., Ltd.
• Sumitomo Metal Mining Co., Ltd.
• Samsung SDI Co., Ltd.
• LG Chem Ltd.
• Umicore SA
• BASF SE
• POSCO Chemical Co., Ltd.
• Norilsk Nickel
• Contemporary Amperex Technology Co., Limited (CATL)
• Mitsubishi Chemical Corporation
• Foshan Huate Lithium Co., Ltd.
• Hunan Shanshan Technology Co., Ltd.
• Jiangxi Ganfeng Lithium Co., Ltd.
• Yunnan Tin Company Limited
• Shenzhen BAK Battery Co., Ltd.

The competitive landscape of the Nickel Cobalt Manganese compound precursor market is characterized by a mix of established players and emerging companies, each vying for market share in a rapidly growing industry. Major manufacturers are focusing on expanding their production capabilities and enhancing their product portfolios to cater to the increasing demand for advanced battery technologies. Strategic partnerships and collaborations between manufacturers and battery producers are also becoming increasingly common, allowing companies to leverage each other's strengths and drive innovation. Additionally, companies are investing significantly in research and development to create new formulations and improve the efficiency of NCM precursors, ensuring their relevance in the evolving battery market.

Among the leading players, Contemporary Amperex Technology Co., Limited (CATL) stands out for its robust production capacity and commitment to technological advancement. The company has made significant strides in developing high-performance NCM precursors specifically designed for electric vehicle batteries. Another notable competitor, LG Chem, is recognized for its strong presence in the global battery market and its focus on sustainable practices. The company is actively engaged in R&D to improve battery performance while minimizing environmental impact. Similarly, companies like Sumitomo Metal Mining and Umicore are investing in sustainable sourcing and recycling of NCM materials, positioning themselves as leaders in responsible manufacturing.

As the market evolves, manufacturers must navigate challenges such as fluctuating raw material prices and increasing competition from alternative battery technologies. This competitive landscape necessitates a proactive approach to innovation and sustainability. The key to success will lie in the ability to adapt to changing market dynamics, maintain product quality, and respond to customer demands for environmentally friendly solutions. Overall, the Nickel Cobalt Manganese compound precursor market presents a promising yet competitive environment, where companies must continually strive for excellence to maintain their market positions.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BASF SE
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Umicore SA
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 LG Chem Ltd.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Norilsk Nickel
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Samsung SDI Co., Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Nippon Yttrium Co., Ltd.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 POSCO Chemical Co., Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Yunnan Tin Company Limited
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Foshan Huate Lithium Co., Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Shenzhen BAK Battery Co., Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Mitsubishi Chemical Corporation
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Sumitomo Metal Mining Co., Ltd.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Jiangxi Ganfeng Lithium Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Hunan Shanshan Technology Co., Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Contemporary Amperex Technology Co., Limited (CATL)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Nickel Cobalt Manganese Compound Precursor Market, By Application
    • 6.1.1 Batteries
    • 6.1.2 Catalysts
    • 6.1.3 Magnetic Materials
    • 6.1.4 Pigments
    • 6.1.5 Others
  • 6.2 Nickel Cobalt Manganese Compound Precursor Market, By Product Type
    • 6.2.1 Nickel Cobalt Manganese Oxide
    • 6.2.2 Nickel Cobalt Manganese Hydroxide
    • 6.2.3 Nickel Cobalt Manganese Carbonate
    • 6.2.4 Nickel Cobalt Manganese Nitrate
    • 6.2.5 Nickel Cobalt Manganese Sulfate
  • 6.3 Nickel Cobalt Manganese Compound Precursor Market, By Ingredient Type
    • 6.3.1 Nickel
    • 6.3.2 Cobalt
    • 6.3.3 Manganese
    • 6.3.4 Other Additives
  • 6.4 Nickel Cobalt Manganese Compound Precursor Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Specialty Stores
    • 6.4.3 Direct Sales
    • 6.4.4 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Nickel Cobalt Manganese Compound Precursor Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Nickel Cobalt Manganese Compound Precursor market is categorized based on

By Product Type

• Nickel Cobalt Manganese Oxide
• Nickel Cobalt Manganese Hydroxide
• Nickel Cobalt Manganese Carbonate
• Nickel Cobalt Manganese Nitrate
• Nickel Cobalt Manganese Sulfate

By Application

• Batteries
• Catalysts
• Magnetic Materials
• Pigments
• Others

By Distribution Channel

• Online Stores
• Specialty Stores
• Direct Sales
• Others

By Ingredient Type

• Nickel
• Cobalt
• Manganese
• Other Additives

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Nippon Yttrium Co., Ltd.
• Sumitomo Metal Mining Co., Ltd.
• Samsung SDI Co., Ltd.
• LG Chem Ltd.
• Umicore SA
• BASF SE
• POSCO Chemical Co., Ltd.
• Norilsk Nickel
• Contemporary Amperex Technology Co., Limited (CATL)
• Mitsubishi Chemical Corporation
• Foshan Huate Lithium Co., Ltd.
• Hunan Shanshan Technology Co., Ltd.
• Jiangxi Ganfeng Lithium Co., Ltd.
• Yunnan Tin Company Limited
• Shenzhen BAK Battery Co., Ltd.