The Global Battery Grade Precursor Market was valued at USD 3.45 Billion in 2024 and is projected to reach USD 9.78 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period (2024–2032). This impressive growth is primarily driven by the accelerating global transition to electric vehicles, the expansion of grid-scale energy storage systems, and increasing demand for high-performance consumer electronics.

As the world shifts toward electrification and sustainable energy, the critical role of battery grade precursors—the high-purity chemical building blocks for advanced lithium-ion batteries—has come into sharp focus. These specialized materials determine the performance, safety, and longevity of the batteries powering our future. In this blog, we profile the Top 10 Companies in the Battery Grade Precursor Industry—a dynamic mix of chemical giants, specialized producers, and innovative startups shaping the global energy storage landscape.

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🔟 1. BASF Catalysts

Headquarters: Ludwigshafen, Germany
Key Offering: NMC Precursors, LFP Precursors, High-Purity Lithium Salts

BASF Catalysts is a global leader in battery materials, offering a comprehensive portfolio of precursors for cathode active materials. The company leverages its deep expertise in chemical synthesis and catalysis to produce high-performance precursors for various battery chemistries, including nickel-rich NMC and cobalt-free LFP formulations. BASF’s vertically integrated supply chain and significant R&D investments position it at the forefront of precursor innovation.

Innovation Initiatives:

• Proprietary co-precipitation technology for precise particle morphology control

• Expansion of CAM production capacity in Europe and North America

• Strategic partnerships with automakers for closed-loop battery material systems

Download FREE Sample Report: Battery Grade Precursor Market – View in Detailed Research Report

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9️⃣ 2. Targray

Headquarters: Montreal, Canada
Key Offering: Lithium Salts, Nickel Sulfate, Cobalt Sulfate, Custom Precursor Blends

Targray has established itself as a key global supplier of battery raw materials and precursors, serving major battery manufacturers and automotive OEMs worldwide. The company’s strength lies in its robust international supply chain network and ability to provide customized precursor solutions tailored to specific customer requirements. Targray’s strategic partnerships across Asia, Europe, and North America ensure reliable material sourcing and distribution.

Innovation Initiatives:

• Development of sustainable sourcing protocols for conflict-free minerals

• Investment in blockchain technology for supply chain transparency

• Expansion of high-purity metal sulfate production capabilities

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8️⃣ 3. Tanaka Chemical Corporation

Headquarters: Osaka, Japan
Key Offering: Nickel-based Precursors, Cobalt Compounds, Lithium Compounds

Tanaka Chemical Corporation is a leading Japanese producer of high-purity battery materials with decades of experience in inorganic chemical manufacturing. The company specializes in nickel-rich precursor chemistries, particularly for high-energy-density NCA and NMC cathodes used in premium electric vehicles. Tanaka’s focus on quality control and consistency has made it a preferred supplier for demanding automotive applications.

Innovation Initiatives:

• Advanced crystallization technology for uniform particle size distribution

• Development of low-cobalt and cobalt-free precursor formulations

• Water recycling and waste minimization in production processes

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7️⃣ 4. Merck KGaA

Headquarters: Darmstadt, Germany
Key Offering: Ultra-High Purity Precursors, Electrolyte Salts, Specialty Additives

Merck KGaA, through its electronics business, has become a significant player in the high-end battery materials market. The company provides ultra-high purity precursors and specialty chemicals for advanced battery applications, leveraging its expertise in materials science and purification technologies. Merck’s focus on R&D-intensive solutions positions it well in the premium segment of the precursor market.

Innovation Initiatives:

• Development of next-generation solid-state battery precursors

• Advanced analytical and testing capabilities for material characterization

• Custom synthesis services for novel battery chemistries

Download FREE Sample Report: Battery Grade Precursor Market – View in Detailed Research Report

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6️⃣ 5. Umicore

Headquarters: Brussels, Belgium
Key Offering: NMC Precursors, LFP Precursors, Battery Recycling Solutions

Umicore is a global materials technology and recycling group with a strong presence in the battery value chain. The company offers a range of precursor materials for cathode production, with a particular focus on sustainable and recycled content. Umicore’s closed-loop business model, which integrates recycling with primary production, provides a unique competitive advantage in the evolving circular economy for batteries.

Innovation Initiatives:

• Pioneering hydrometallurgical recycling technology for battery black mass

• Development of high-nickel, low-cobalt precursor formulations

• Carbon footprint reduction initiatives across the production chain

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5️⃣ 6. POSCO Holdings

Headquarters: Pohang, South Korea
Key Offering: Lithium Hydroxide, Nickel Sulfate, Cathode Precursor Materials

POSCO Holdings, through its chemical and battery materials divisions, has emerged as a major force in the Asian precursor market. The South Korean industrial giant leverages its vertical integration from raw material processing to precursor synthesis, providing cost-competitive and high-quality materials to the booming Asian battery industry. POSCO’s scale and industrial expertise enable significant production capacity and consistent quality.

Innovation Initiatives:

• Investment in lithium extraction and refining technologies

• Expansion of precursor production capacity in Korea and overseas

• Development of proprietary precursor synthesis processes

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4️⃣ 7. GEM Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: NMC Precursors, Battery Recycling, Recycled Precursor Materials

GEM is one of China’s leading producers of battery materials with a strong focus on circular economy principles. The company operates one of the world’s largest battery recycling networks, which feeds into its precursor production, creating a sustainable supply chain for critical battery materials. GEM’s integrated approach from recycling to precursor manufacturing provides significant cost and sustainability advantages.

Innovation Initiatives:

• World’s largest battery recycling and precursor production facility

• Development of urban mining technologies for battery material recovery

• Strategic partnerships with EV manufacturers for end-of-life battery collection

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3️⃣ 8. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Nickel-based Precursors, High-Purity Metal Salts, Cathode Materials

Sumitomo Metal Mining is a Japanese mining and smelting company that has strategically expanded into the battery materials sector. The company’s expertise in non-ferrous metal processing provides a strong foundation for producing high-purity battery precursors, particularly nickel-based compounds. Sumitomo’s focus on quality and technical support has made it a key supplier to leading Japanese and Korean battery manufacturers.

Innovation Initiatives:

• Proprietary nickel refining and purification technologies

• Development of high-capacity NCA and NMC precursor formulations

• Expansion of precursor production capacity to meet growing demand

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2️⃣ 9. CNGR Advanced Material Co., Ltd.

Headquarters: Guangzhou, China
Key Offering: NMC Precursors, Nickel Sulfate, Cobalt Products

CNGR Advanced Material is one of China’s fastest-growing battery material companies, specializing in precursors for nickel-rich cathode materials. The company has rapidly expanded its production capacity to become a major supplier to the domestic and international battery markets. CNGR’s focus on cost efficiency and scale positions it competitively in the high-growth EV battery segment.

Innovation Initiatives:

• Rapid capacity expansion for nickel-based precursors

• Development of ultra-high-nickel precursor formulations

• Vertical integration into upstream raw material processing

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1️⃣ 10. EcoPro BM

Headquarters: Chungcheongbuk-do, South Korea
Key Offering: NCA Precursors, NMC Precursors, High-Nickel Cathode Materials

EcoPro BM is a South Korean specialist in high-nickel cathode precursors, particularly for the demanding electric vehicle market. The company has developed proprietary technologies for producing high-performance NCA and NMC precursors that enable batteries with superior energy density and cycle life. EcoPro’s technical expertise and focus on R&D have made it a strategic partner for leading battery cell manufacturers.

Innovation Initiatives:

• Development of next-generation high-nickel, low-cobalt precursors

• Proprietary particle engineering for enhanced battery performance

• Strategic collaborations with global automotive and battery companies

Read Full Report: Battery Grade Precursor Market – View in Detailed Research Report

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🔋 Outlook: The Future of Battery Grade Precursors Is High-Performance and Sustainable

The battery grade precursor market is undergoing a fundamental transformation. While traditional precursor chemistries continue to dominate current production, the industry is rapidly innovating toward high-nickel, low-cobalt formulations, sustainable production methods, and circular economy principles. The convergence of materials science, digitalization, and sustainability is reshaping how precursors are developed, produced, and supplied to the global battery industry.

📈 Key Trends Shaping the Market:

• Accelerated adoption of nickel-rich NMC and NCA precursors for higher energy density

• Development of cobalt-free alternatives like LMFP and advanced LFP formulations

• Integration of recycled content through advanced battery recycling technologies

• Regionalization of supply chains to enhance security and reduce carbon footprint

Read Full Report: Battery Grade Precursor Market – View in Detailed Research Report

The companies profiled above are not only supplying essential materials for the energy transition—they’re driving the technological innovations that will make batteries more powerful, affordable, and sustainable for generations to come.