The Global Ni5 Series Ternary Material Market was valued at USD 8.72 Billion in 2023 and is projected to reach USD 22.45 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period (2024–2030). This robust growth is primarily driven by the accelerating global demand for electric vehicles (EVs), advancements in energy storage systems, and the push for higher energy density and longer-lasting consumer electronics batteries.

As the clean energy transition gains momentum, the spotlight is on the key material suppliers who are driving innovation, efficiency, and superior performance in lithium-ion battery technology. In this blog, we profile the Top 10 Companies in the Ni5 Series Ternary Material Industry—a mix of chemical giants, specialized material producers, and technology innovators shaping the future of energy storage.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-Nickel NCM (e.g., NCM 811, NCM 9½½) Cathode Active Materials

BASF is a global leader in the supply of cathode materials for lithium-ion batteries, with a strong focus on high-nickel NCM formulations like the Ni5 series. Its extensive R&D and large-scale production capabilities position it as a critical supplier to major automotive OEMs and battery cell manufacturers worldwide.

Innovation and Expansion Initiatives:

• Significant investment in European and Asian production facilities for high-nickel NCM

• Development of proprietary processes to enhance the stability and lifetime of Ni5 Series materials

• Strategic partnerships with mining companies to secure a sustainable nickel and cobalt supply chain

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9️⃣ 2. Umicore

Headquarters: Brussels, Belgium
Key Offering: Umicore HIGH ENERGY NMC, Rechargeable Battery Materials

Umicore is a leading circular materials technology company with a formidable presence in the battery materials sector. Its high-energy NMC products are engineered for maximum performance in electric vehicle applications, offering superior energy density and thermal stability.

Innovation and Expansion Initiatives:

• Pioneering closed-loop recycling for battery materials, reducing reliance on primary mined resources

• Continuous R&D focused on increasing nickel content while managing cobalt usage

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8️⃣ 3. LG Chem

Headquarters: Seoul, South Korea
Key Offering: NCMA (Nickel Cobalt Manganese Aluminum) Cathode Materials

LG Chem is a dominant force in both battery cell manufacturing and the supply of advanced cathode materials. Its NCMA technology, an evolution of the Ni5 series, incorporates aluminum to enhance structural stability and safety, making it a preferred choice for next-generation EV batteries.

Innovation and Expansion Initiatives:

• Mass production of NCMA cathode materials for its own battery division and external clients

• Aggressive capacity expansion in South Korea, China, and the United States

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7️⃣ 4. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-density NCA and NCM Cathode Materials

Sumitomo Metal Mining is a key Japanese supplier of high-nickel cathode materials, notably NCA (Lithium Nickel Cobalt Aluminum Oxide), which shares performance characteristics with the Ni5 series. The company is renowned for its high-purity materials and consistent quality, supplying major battery makers globally.

Innovation and Expansion Initiatives:

• Development of nickel-rich cathode materials with enhanced surface treatment technologies

• Expanding production capacity to meet soaring demand from the automotive sector

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6️⃣ 5. POSCO Holdings

Headquarters: Pohang, South Korea
Key Offering: NCP (Nickel Cobalt Post-metal) and NCM Cathode Materials

POSCO Holdings, through its subsidiary POSCO Future M, is rapidly emerging as a major player in the global battery materials market. The company leverages its expertise in metals and chemicals to produce high-performance cathode materials for the EV industry.

Innovation and Expansion Initiatives:

• Large-scale investments to build integrated cathode material production plants

• Focus on developing low-cobalt and cobalt-free high-nickel formulations

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5️⃣ 6. EcoPro BM

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

EcoPro BM is a specialized cathode material manufacturer and a key supplier to Samsung SDI and other leading battery cell producers. The company is at the forefront of commercializing ultra-high-nickel cathodes, which are essential for extending EV driving range.

Innovation and Expansion Initiatives:

• Strategic joint ventures with global partners to secure market position and supply chains

• R&D focused on improving the cycle life and safety of nickel-rich cathodes

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

Headquarters: Beijing, China
Key Offering: NCM 811, NCM 622, and other Ternary Cathode Materials

Beijing Easpring is one of China’s leading suppliers of lithium-ion battery cathode materials. The company has strong partnerships with major Chinese battery manufacturers like CATL and BYD and is actively expanding its production capacity for high-nickel NCM products.

Innovation and Expansion Initiatives:

• Continuous capacity expansion to maintain its leadership in the world’s largest EV market

• Investment in precursor and cathode material production to create a vertically integrated supply chain

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3️⃣ 8. Ningbo Ronbay New Energy Technology Co., Ltd.

Headquarters: Ningbo, China
Key Offering: High-Nickel NCM, Single Crystal NCM Cathode Materials

Ningbo Ronbay is a major global supplier of ternary cathode materials, with a significant market share. The company is known for its advanced single-crystal NCM technology, which offers improved structural integrity and longer cycle life compared to polycrystalline materials.

Innovation and Expansion Initiatives:

• Pioneering the mass production of single-crystal high-nickel NCM materials

• International expansion, including plans for production facilities in Europe and North America

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2️⃣ 9. CATL (Contemporary Amperex Technology Co. Limited)

Headquarters: Ningde, China
Key Offering: Kirin Battery with high-nickel NCM chemistry, Cell-to-Pack technology

While primarily a battery cell manufacturer, CATL is also a significant consumer and innovator of high-nickel cathode materials through its internal supply chain and partnerships. Its market dominance drives substantial demand for advanced Ni5 Series materials.

Innovation and Expansion Initiatives:

• Development of proprietary cell chemistries that optimize the use of high-nickel NCM for safety and performance

• Massive investments in gigafactories worldwide, creating a pull-effect for cathode material suppliers

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1️⃣ 10. Johnson Matthey

Headquarters: London, United Kingdom
Key Offering: eLNO® Portfolio of Advanced Nickel-Rich Cathode Materials

Johnson Matthey is a global specialist in sustainable technologies, with a strategic focus on its eLNO family of ultra-high-nickel cathode materials. These products are designed to deliver high energy density while incorporating sustainability principles into their production.

Innovation and Expansion Initiatives:

• Commitment to producing cathode materials with a lower carbon footprint

• Developing next-generation nickel-rich chemistries with improved sustainability credentials

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Global Ni5 Series Ternary Material Market – View in Detailed Research Report

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🔋 Outlook: The Future of Ni5 Series Ternary Materials is High-Energy and Sustainable

The Ni5 Series Ternary Material market is undergoing a rapid transformation. While the demand for higher energy density continues to push nickel content to its limits, the industry is simultaneously investing heavily in improving safety, reducing costs, and enhancing the sustainability of the supply chain.

📈 Key Trends Shaping the Market:

• Nickel Content Maximization: Ongoing R&D to push beyond NCM 811 towards 9-series materials (e.g., NCM 90/5/5, NCMA 9½½) for even greater energy density.

• Cobalt Reduction Initiatives: Intense focus on developing low-cobalt and cobalt-free high-nickel formulations to mitigate cost and supply chain risks.

• Single Crystal Technology Adoption: Widespread shift from polycrystalline to single crystal NCM to improve structural stability, cycle life, and safety.

• Supply Chain Localization: Strategic establishment of cathode and precursor production facilities in North America and Europe to support local EV manufacturing hubs.

Get Full Report Here:
Global Ni5 Series Ternary Material Market – View in Detailed Research Report

The companies listed above are not only supplying a critical component for modern batteries—they are actively engineering the foundation for a more electrified and sustainable future.