The Global Lithium Battery Ternary Material Precursor Market was valued at USD 2,800 Million in 2022 and is projected to reach USD 18,500 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 30.2% during the forecast period (2022–2029). This robust expansion is fueled by the surging demand for electric vehicles worldwide, advancements in high-performance battery technologies, and the push for higher energy density in lithium-ion batteries, particularly in automotive and consumer electronics sectors.

As the energy storage landscape evolves with a focus on sustainable and efficient power solutions, attention turns to the critical suppliers of ternary material precursors that enable next-generation cathodes. These materials, typically nickel-cobalt-manganese hydroxides, form the backbone of ternary cathodes like NCM and NCA, enhancing battery performance and longevity. In this blog, we profile the Top 10 Companies in the Lithium Battery Ternary Material Precursor Industry—a blend of global chemical giants, specialized material innovators, and emerging Asian powerhouses driving the charge toward electrified mobility and renewable energy integration.

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🔟 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-nickel ternary precursors (NCM, NCA), customized cathode active materials

Umicore stands as a frontrunner in the battery materials arena, producing advanced ternary precursors that support high-energy-density lithium-ion batteries for EVs and energy storage systems. With a strong emphasis on sustainable sourcing, the company supplies major battery manufacturers globally, ensuring consistent quality and scalability to meet the demands of the burgeoning EV market.

Innovation Initiatives:

• Expanded production capacity to over 100,000 tons annually by 2025

• Collaborations with automakers for recycling-integrated supply chains

• Investment in low-cobalt, high-nickel formulations to reduce environmental impact

Download FREE Sample Report:
Lithium Battery Ternary Material Precursor Market – View in Detailed Research Report

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9️⃣ 2. TANAKA Chemical Corporation

Headquarters: Fukui, Japan
Key Offering: Nickel-cobalt-manganese hydroxide precursors, fine chemical intermediates

TANAKA Chemical excels in precision manufacturing of ternary precursors, serving the Japanese and international battery industry with high-purity materials essential for premium consumer electronics and automotive applications. The company’s expertise in coprecipitation technology allows for tailored particle sizes that optimize battery performance and safety.

Innovation Initiatives:

• R&D focus on single-crystal precursors for improved cycle life

• Partnerships with Asian battery giants to enhance supply chain resilience

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8️⃣ 3. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: NCM precursors, integrated mining-to-material solutions

As a vertically integrated player, Sumitomo Metal Mining leverages its mining operations to produce ternary precursors with reliable raw material sourcing. It plays a pivotal role in Japan’s battery ecosystem, supplying precursors that power leading EV models and contributing to the global shift toward localized production.

Innovation Initiatives:

• New facility targeting 50,000 tons/year capacity by 2026

• Advancements in doping techniques for enhanced thermal stability

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7️⃣ 4. Nichia Corporation

Headquarters: Anan, Japan
Key Offering: High-performance ternary hydroxide precursors, LED and battery materials

Nichia, renowned for its phosphor and semiconductor innovations, has extended its capabilities into ternary precursors, focusing on materials that boost energy density for portable devices and hybrid vehicles. Its commitment to quality control ensures minimal impurities, which is crucial for long-lasting battery life in competitive markets.

Innovation Initiatives:

• Goal to achieve 20% market share in high-nickel precursors by 2025

• Joint ventures for sustainable cobalt alternatives

Download FREE Sample Report:
Lithium Battery Ternary Material Precursor Market – View in Detailed Research Report

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6️⃣ 5. TODA KOGYO CORP

Headquarters: Hiroshima, Japan
Key Offering: Co-precipitated ternary precursors, cathode powders

TODA KOGYO is a veteran in inorganic materials, specializing in ternary precursors that enable high-capacity cathodes for EVs. The company supports global OEMs with scalable production, emphasizing process innovations that reduce costs while maintaining superior electrochemical properties.

Innovation Initiatives:

• Expansion of production lines for NCM811 precursors

• Research into silicon-anode compatible materials

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5️⃣ 6. L&F Co., Ltd.

Headquarters: Daegu, South Korea
Key Offering: High-nickel ternary precursors, battery material solutions

L&F has rapidly ascended as a key supplier in the Korean battery cluster, providing ternary precursors that power some of the world’s top EV batteries. Its focus on high-nickel compositions addresses the need for longer-range vehicles, with production geared toward mass-market adoption.

Innovation Initiatives:

• Current output exceeding 30,000 tons/year, with plans to double by 2027

• Collaborations with cell manufacturers for next-gen solid-state compatibility

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4️⃣ 7. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: NCA and NCM precursors, advanced chemical intermediates

Mitsubishi Chemical brings its vast chemical expertise to the ternary precursor market, supplying materials that enhance battery efficiency for automotive and industrial uses. The company’s global network ensures steady supply amid fluctuating raw material prices.

Innovation Initiatives:

• Investment in recycling technologies to close the loop on battery materials

• New R&D center dedicated to precursor morphology optimization

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3️⃣ 8. Qian Yun New Energy Material Co., Ltd. (Qianyun-Tech)

Headquarters: Shenzhen, China
Key Offering: Cost-effective ternary precursors, high-volume production

Qianyun-Tech is a rising star in China’s battery materials sector, offering affordable yet high-quality ternary precursors that support the massive EV rollout in Asia. Its proximity to raw material sources allows for competitive pricing and rapid scaling.

Innovation Initiatives:

• Indigenous development of low-impurity synthesis processes

• Public-private partnerships for supply chain localization

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2️⃣ 9. ECOPRO Co., Ltd.

Headquarters: Gwangju, South Korea
Key Offering: Advanced NCM precursors, cathode material integration

ECOPRO is at the forefront of Korea’s battery innovation, producing ternary precursors optimized for ultra-high energy densities in premium EVs. The company emphasizes eco-friendly manufacturing, aligning with global sustainability goals in the energy transition.

Innovation Initiatives:

• Aiming for 100,000 tons/year capacity through greenfield expansions

• Strategic alliances with global automakers for co-development

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1️⃣ 10. Ningbo Ronbay New Energy Technology Co., Ltd.

Headquarters: Ningbo, China
Key Offering: Bulk ternary precursors, full cathode material chain

Ronbay dominates the Chinese market with integrated production of ternary precursors, serving major battery producers and enabling cost reductions for mass-market EVs. Its robust logistics network supports exports to Europe and North America.

Innovation Initiatives:

• Comprehensive recycling programs for precursor recovery

• Focus on high-nickel, low-manganese variants for future-proof batteries

Read Full Report:
Lithium Battery Ternary Material Precursor Market – View in Detailed Research Report

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🌍 Outlook: The Future of Lithium Battery Ternary Material Precursors Is High-Energy and Sustainable

The lithium battery ternary material precursor market is experiencing explosive growth, propelled by the electrification of transportation and the proliferation of renewable energy storage. While conventional NCM precursors remain dominant, the sector is pouring resources into high-nickel variants, advanced synthesis methods, and circular economy practices to meet escalating demands.

Because the push for longer-range EVs continues unabated, manufacturers are innovating to increase nickel content, thereby boosting energy density without compromising safety. However, challenges like raw material volatility and geopolitical tensions in supply chains underscore the need for diversified sourcing. Furthermore, regulatory pressures for greener production are accelerating investments in low-carbon processes and recycling.

📈 Key Trends Shaping the Market:

• Shift toward high-nickel (NCM811+) precursors in Asia-Pacific and Europe

• Government incentives for domestic production in the US and EU

• Integration of AI in precursor design for optimized particle morphology

• Battery maker alliances to secure long-term precursor supplies

Read Full Report:
Lithium Battery Ternary Material Precursor Market – View in Detailed Research Report

The companies profiled here are not only powering the core of modern lithium batteries—they’re pioneering the sustainable evolution of energy storage technologies that will define the next decade of global electrification.

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