The Global Cathode Active Materials (CAM) for Lithium-ion Batteries Market was valued at USD 27.5 Billion in 2023 and is projected to reach USD 63.2 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period (2024–2029). This remarkable growth is fueled by the exponential rise in electric vehicle (EV) adoption, the expansion of grid-scale energy storage systems, and the relentless demand for high-performance consumer electronics.

As the world accelerates its transition to clean energy and sustainable mobility, the cathode material—the most critical and valuable component of a lithium-ion battery—is at the heart of this transformation. In this blog, we profile the Top 10 Companies in the Cathode Active Materials Industry—a dynamic mix of chemical giants, specialized materials producers, and innovators developing the next generation of battery chemistries.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-Nickel NMC (Nickel Manganese Cobalt), NCA (Nickel Cobalt Aluminum), HED^TM Cathode Active Materials

BASF is a global leader in battery materials and a major supplier of advanced cathode active materials, particularly for the automotive industry. Its focus is on developing high-energy-density materials that extend EV driving range. The company operates production sites in Europe, Asia, and North America to serve a global clientele.

Innovation and Capacity Expansion:

• Leading producer of high-nickel NCM (e.g., NCM 811) for maximum energy density.
• Strategic investments in CAM production facilities in Europe and Canada.
• Strong R&D pipeline focusing on cobalt-reduction and next-generation materials.

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9️⃣ 2. Umicore

Headquarters: Brussels, Belgium
Key Offering: NMC, LFP (Lithium Iron Phosphate), and High-Voltage LMO (Lithium Manganese Oxide)

Umicore is a Belgian materials technology and recycling group with a strong global position in cathode materials. The company is known for its closed-loop recycling approach, aiming to recover valuable metals from spent batteries for use in new CAM production, promoting a circular economy.

Innovation and Capacity Expansion:

• Pioneer in sustainable battery materials with a strong recycling business.
• Produces a wide portfolio, including high-nickel NMC and cost-effective LFP.
• Expanding production capacities in Europe and Asia to meet growing demand.

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8️⃣ 3. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-Quality NCA Cathode Materials

Sumitomo Metal Mining (SMM) is a key Japanese supplier, renowned for its high-quality NCA cathode materials, which are used in some of the world’s leading EVs due to their excellent energy density. SMM has a long-standing partnership with major battery and automotive manufacturers.

Innovation and Capacity Expansion:

• Leading global supplier of NCA materials, a chemistry favored for high performance.
• Continuous improvement of NCA stability and longevity.
• Significant capacity expansions in Japan to secure supply for leading EV makers.

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7️⃣ 4. LG Chem

Headquarters: Seoul, South Korea
Key Offering: NCM (various ratios), High-Nickel CAM

LG Chem is a vertically integrated powerhouse, being both a major battery cell manufacturer (under LG Energy Solution) and a significant producer of cathode active materials. This integration gives it a competitive edge in material development and supply chain security for its own massive battery production needs.

Innovation and Capacity Expansion:

• Develops proprietary high-nickel NCM formulations (e.g., NCMA) for improved performance.
• Aggressively expanding CAM production capacity in South Korea and internationally.
• Strong focus on supplying its captive demand from LG Energy Solution.

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Cathode Active Materials for Lithium-ion Batteries Market – View in Detailed Research Report

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6️⃣ 5. Posco Holdings

Headquarters: Pohang, South Korea
Key Offering: NCMA, NCM, LFP Cathode Materials

Posco, a leading steelmaker, has diversified significantly into future materials, including battery components. Through subsidiaries like Posco Future M, it is investing billions to become a top-tier global supplier of cathode and anode materials, leveraging its expertise in materials processing.

Innovation and Capacity Expansion:

• Massive investments to build one of the world’s largest CAM production bases.
• Developing innovative NCMA (Nickel Cobalt Manganese Aluminum) chemistry.
• Strategic partnerships with global automakers and battery manufacturers.

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5️⃣ 6. EcoPro BM

Headquarters: Cheongju, South Korea
Key Offering: High-Nickel NCM and NCA Cathode Materials

EcoPro BM is a specialist cathode material manufacturer and a key supplier to Samsung SDI and other major battery makers. The company is focused exclusively on high-nickel chemistries, positioning itself as a technology leader in high-energy-density solutions.

Innovation and Capacity Expansion:

• Specialized in producing premium, high-nickel content NCM and NCA materials.
• Rapidly scaling production capacity in South Korea and through international joint ventures.
• Strong technological expertise in improving the safety and performance of high-nickel cathodes.

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4️⃣ 7. Beijing Easpring Material Technology Co., Ltd.

Headquarters: Beijing, China
Key Offering: NCM, LCO (Lithium Cobalt Oxide), LMO

Beijing Easpring is one of China’s leading and longest-established cathode material producers. It supplies a broad portfolio of materials to a wide range of battery manufacturers for applications spanning EVs, consumer electronics, and energy storage.

Innovation and Capacity Expansion:

• One of the pioneers and largest CAM producers in China.
• Comprehensive product portfolio catering to diverse battery applications.
• Continual expansion of high-nickel NCM production lines to meet automotive demand.

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3️⃣ 8. Ningbo Shanshan Co., Ltd.

Headquarters: Ningbo, China
Key Offering: LFP, NCM, Graphite Anode Materials

Shanshan Technology is a major Chinese supplier of both cathode and anode materials. It has been a significant player in the LFP cathode market, benefiting from the resurgence of this chemistry for cost-sensitive EVs and energy storage systems.

Innovation and Capacity Expansion:

• Strong position in the fast-growing LFP cathode market segment.
• Vertically integrated operations, also producing anode materials.
• Active in capacity expansion to capture market share in the LFP renaissance.

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2️⃣ 9. Umicore (China) – Hunan Changyuan Lico Co., Ltd. (Subsidiary)

Headquarters: Changsha, China
Key Offering: NMC, LCO Cathode Materials

While Umicore is a global entity, its subsidiary in China, Hunan Changyuan Lico, is a major force in the domestic market. It produces a significant volume of cathode materials, serving Chinese battery giants and contributing substantially to Umicore’s global capacity.

Innovation and Capacity Expansion:

• Key production asset for Umicore within the world’s largest battery manufacturing region.
• Focus on supplying the expansive Chinese EV and electronics battery market.
• Benefits from Umicore’s global R&D and sustainability technologies.

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Cathode Active Materials for Lithium-ion Batteries Market – View in Detailed Research Report

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1️⃣ 10. GEM Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: NCM, Precursor Materials, Battery Recycling

GEM is a prominent player in China’s new energy materials sector, with a strong focus on the circular economy. It is a major producer of CAM precursors and finished cathode materials, and it operates one of the largest battery recycling networks in the country.

Innovation and Capacity Expansion:

• Leader in battery recycling, creating a closed-loop supply chain for nickel and cobalt.
• Large-scale production of NCM cathode materials and essential precursors.
• Strategic partnerships for securing raw materials and offtake agreements.

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Cathode Active Materials for Lithium-ion Batteries Market – View in Detailed Research Report

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🔋 Outlook: The Future of Cathode Materials Is High-Energy and Sustainable

The cathode active materials market is undergoing a profound technological shift. While nickel-rich NCM and NCA chemistries dominate the high-performance EV segment, LFP is experiencing a major comeback due to its cost, safety, and longevity advantages, especially for mass-market vehicles and energy storage.

📈 Key Trends Shaping the Market:

• Chemistry Diversification: Coexistence of high-nickel and LFP pathways depending on application and cost requirements.
• Geographical Diversification: Massive investments in localized CAM production in North America and Europe to reduce dependency on Asia.
• Circularity Focus: Intensifying efforts in battery recycling to create sustainable, domestic supply chains for critical metals.
• Next-Generation R&D: Heavy investment in solid-state batteries, lithium-sulfur, and other post-lithium-ion technologies.

The companies listed above are not only supplying the core ingredient for modern batteries—they are actively defining the performance, cost, and sustainability parameters of the global energy transition.

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Cathode Active Materials for Lithium-ion Batteries Market – View in Detailed Research Report