The Global Rechargeable Battery Material Market was valued at USD 47.8 Billion in 2024 and is projected to reach USD 89.4 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period (2024-2032). This rapid expansion is driven by soaring demand for electric vehicles (EVs), grid-scale energy storage solutions, and portable electronics, coupled with accelerated investments in next-generation battery technologies and supply chain infrastructure.

As global economies transition toward electrification and decarbonization, battery material suppliers have become critical enablers of this transformation. In this analysis, we examine the Top 10 Companies in the Rechargeable Battery Material Industry—market leaders specializing in cathode materials, anode materials, electrolytes, and other key components that power modern lithium-ion, nickel-metal hydride, and future battery systems.

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🔟 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: Cathode materials, battery recycling technologies

Umicore maintains a dominant position in high-performance cathode materials for lithium-ion batteries, supplying automakers and battery cell manufacturers worldwide. The company’s product portfolio includes nickel-manganese-cobalt (NMC) and lithium iron phosphate (LFP) cathode materials, complemented by its closed-loop battery recycling system.

Innovation Focus:

• Development of ultra-high nickel NMC formulations (NMC811+)
• Strategic alliances with major European and Asian EV manufacturers
• Expansion of recycling capacity to 150,000 tons/year by 2026

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9️⃣ 2. GEM Co., Ltd

Headquarters: Shenzhen, China
Key Offering: Precursor materials, battery recycling solutions

As China’s largest battery materials producer, GEM specializes in precursors for cathode active materials and operates one of the world’s most extensive battery recycling networks. The company supplies major Chinese battery manufacturers while rapidly expanding its international operations.

Innovation Focus:

• Vertical integration from mining to materials processing
• Advanced hydrometallurgy recycling technologies
• Strategic partnerships in Indonesia for nickel supply chain

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8️⃣ 3. CNGR Corporation

Headquarters: Changsha, China
Key Offering: NMC and LFP cathode active materials

CNGR has emerged as a key global supplier of high-performance cathode materials, particularly serving the booming electric vehicle market. The company maintains strong relationships with leading Chinese battery producers and is making significant inroads into international markets.

Innovation Focus:

• Development of single-crystal NMC cathode materials
• Capacity expansion to 300,000 tons/year by 2025
• Materials development for solid-state batteries

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7️⃣ 4. Brunp Recycling

Headquarters: Changsha, China
Key Offering: Battery recycling, cathode precursor materials

As a subsidiary of CATL, Brunp operates one of the world’s most comprehensive battery recycling networks. The company specializes in recovering high-value metals (nickel, cobalt, lithium) from spent batteries, supporting the circular economy for battery materials.

Innovation Focus:

• Closed-loop recycling process with 99% metal recovery rates
• Integration with CATL’s production facilities
• Expansion into European and North American markets

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6️⃣ 5. Zhejiang Huayou Cobalt

Headquarters: Tongxiang, China
Key Offering: Cobalt products, nickel and lithium materials

Huayou Cobalt is a world leader in cobalt supply for lithium-ion batteries and has strategically expanded into nickel and lithium value chains. The company controls significant Indonesian nickel resources and South American lithium assets.

Innovation Focus:

• Integration of nickel-cobalt refining operations
• Investment in sustainable mining practices
• Battery recycling joint ventures

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5️⃣ 6. BASF Battery Materials

Headquarters: Ludwigshafen, Germany
Key Offering: Cathode materials, electrolyte formulations

BASF is a major global producer of advanced materials for lithium-ion batteries, with particular focus on cathode materials for automotive applications. The company operates production facilities across Europe, North America, and Asia to serve regional markets.

Innovation Focus:

• High-nickel NMC cathode material development
• Local production strategies in key markets
• R&D in next-generation solid electrolyte materials

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4️⃣ 7. Posco Chemical

Headquarters: Seoul, South Korea
Key Offering: Cathode and anode materials

Posco Chemical is rapidly expanding in the battery materials sector through partnerships with global automakers and battery producers. The company manufactures NCM and NCA cathode materials while developing innovative anode solutions.

Innovation Focus:

• Production of high-nickel cathodes (NCMA)
• Silicon-based anode material development
• Global manufacturing footprint expansion

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3️⃣ 8. Sumitomo Metal Mining

Headquarters: Tokyo, Japan
Key Offering: NCA cathode materials, nickel products

Sumitomo is a leading global producer of NCA cathode materials for high-performance batteries, supplying major Japanese battery manufacturers. The company brings decades of expertise in nickel refining and processing to the battery materials sector.

Innovation Focus:

• NCA material performance optimization
• Nickel resource development in Southeast Asia
• Materials for high-energy density applications

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2️⃣ 9. Targray

Headquarters: Montréal, Canada
Key Offering: Battery material supply chain solutions

Targray operates as a global supplier of battery raw materials and processed components, with particular expertise in lithium, cobalt, and specialty materials. The company serves battery cell manufacturers worldwide with a focus on sustainable and ethical sourcing.

Innovation Focus:

• Global supply chain optimization
• Responsible sourcing initiatives
• Technical and commercial support services

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1️⃣ 10. Tanaka Chemical Corporation

Headquarters: Osaka, Japan
Key Offering: High-purity battery chemicals

Tanaka Chemical specializes in high-purity materials for precision battery applications. The company supplies components for both consumer electronics and automotive batteries, with stringent quality control and performance optimization.

Innovation Focus:

• Precision synthesis of battery chemicals
• Performance enhancement additives
• Specialty material development

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🔋 Outlook: The Future of Battery Materials is High-Performance and Sustainable

The rechargeable battery material market is undergoing dramatic transformation as electrification accelerates across transportation, energy storage, and industrial applications. While lithium-ion technology dominates current demand, next-generation battery chemistries are emerging to address performance, cost, and sustainability challenges.

📈 Key Trends Reshaping the Industry:

• Accelerated adoption of high-nickel cathode materials for increased energy density
• Growing LFP battery market share in energy storage and entry-level EVs
• Development of silicon and lithium metal anode technologies
• Expansion of localized supply chains and recycling infrastructure
• Advancements in solid-state and sodium-ion battery materials

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The companies featured above represent the vanguard of battery material innovation, developing the critical components that will enable more efficient, sustainable, and cost-effective energy storage solutions for our electrified future.