The Global LNMO Cathode Market was valued at USD 142.8 Million in 2024 and is projected to reach USD 1.12 Billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period (2024–2035). This exceptional growth is being driven by the global push for sustainable energy storage, increasing demand for electric vehicles, and the accelerating adoption of cobalt-free and low-nickel battery technologies across automotive and energy storage sectors.
As the battery industry transforms toward safer, more sustainable, and cost-effective energy storage solutions, the spotlight is on the key materials suppliers who are driving innovation, efficiency, and cleaner battery production pathways. In this blog, we profile the Top 10 Companies in the LNMO Cathode Industry—a mix of established chemical companies, advanced materials developers, and technology pioneers shaping the future of next-generation lithium-ion batteries.
🔟 1. Targray
Headquarters: Kirkland, Quebec, Canada
Key Offering: High-Voltage LNMO Cathode Powder, Electrode Materials
Targray is a global leader in advanced battery materials and one of the earliest commercial suppliers of LNMO cathode powders. The company serves major battery cell manufacturers and automotive OEMs globally with its proprietary high-voltage spinel materials that enable faster charging and longer battery life cycles.
Technology Innovation:
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Scaled production of 5V-class LNMO cathode materials
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Strategic partnerships with EV manufacturers and R&D institutions
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Focus on developing cobalt-free cathode solutions for sustainable battery production
Download FREE Sample Report: LNMO Cathode Market – View in Detailed Research Report
9️⃣ 2. Nano One Materials
Headquarters: Vancouver, British Columbia, Canada
Key Offering: M2CAM® LNMO Cathode Powder, One-Pot LNMO Synthesis
Nano One Materials is a pioneering clean technology company developing patented processes for the production of high-performance LNMO cathode materials. Their technology enables lower-cost, more environmentally friendly manufacturing of next-generation battery materials.
Technology Innovation:
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Proprietary M2CAM® manufacturing process for LNMO
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Strategic partnerships with automotive OEMs and battery producers
8️⃣ 3. NEI Corporation
Headquarters: Somerset, New Jersey, USA
Key Offering: Nanostructured LNMO Powders, Custom Cathode Formulations
NEI Corporation specializes in developing and manufacturing nanostructured LNMO cathode materials for high-energy density applications. The company’s patented synthesis and coating technologies enhance LNMO’s performance and cycle life.
Technology Innovation:
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Advanced surface modification technologies for LNMO stability
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R&D focus on improving high-voltage cycling performance
7️⃣ 4. Haldor Topsoe
Headquarters: Lyngby, Denmark
Key Offering: LNMO Cathode Materials, Advanced Coating Solutions
Haldor Topsoe brings decades of catalysis and materials science expertise to the LNMO cathode market. The company is developing scalable production processes for high-voltage cathode materials.
Technology Innovation:
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Industrial-scale materials synthesis capabilities
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Focus on developing next-generation battery materials for energy transition
6️⃣ 5. Arkema
Headquarters: Colombes, France
Key Offering: Kynar® PVDF Binders for LNMO Electrodes, Technical Support
Arkema is a global specialty chemicals company developing advanced polymer solutions for LNMO battery systems. The company’s high-performance binders enable improved electrode stability and cycling performance.
Technology Innovation:
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Advanced binder technologies for 5V cathode systems
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Strategic collaborations with battery manufacturers and research institutions
5️⃣ 6. Toyota Boshoku
Headquarters: Kariya, Aichi, Japan
Key Offering: LNMO-based Battery Components, EV Interior Systems
As part of the Toyota Group, Toyota Boshoku is actively involved in developing and commercializing LNMO cathode technology for next-generation Toyota electric vehicles
Technology Innovation:
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Development of high-performance battery systems for automotive applications
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Proprietary LNMO material development and processing technologies
4️⃣ 7. Xiamen Tmax Battery Equipments
Headquarters: Xiamen, Fujian, China
Key Offering: LNMO Production Equipment, Cathode Manufacturing Solutions
Xiamen Tmax Battery Equipments specializes in providing manufacturing equipment and technical solutions for LNMO cathode production. The company enables scaled manufacturing of high-voltage cathode materials for the global battery industry.
Technology Innovation:
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Customized LNMO production line equipment and process optimization
3️⃣ 8. BASF
Headquarters: Ludwigshafen, Germany
Key Offering: High-Energy LNMO Cathode Materials, Custom Formulations
BASF is one of the world’s largest chemical companies with significant investments in next-generation battery materials. While historically focused on NMC chemistries, BASF has announced development efforts in LNMO cathode technology as part of its next-generation battery materials portfolio.
Technology Innovation:
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Expanding battery materials R&D to include high-voltage spinels
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Focus on developing sustainable cathode materials with reduced critical raw material content
Download FREE Sample Report: LNMO Cathode Market – View in Detailed Research Report
2️⃣ 9. Umicore
Headquarters: Brussels, Belgium
Key Offering: LNMO Cathode Materials, Battery Material Solutions
Umicore is a global materials technology and recycling company developing next-generation cathode materials. The company’s expertise in materials science positions it well for LNMO cathode development and commercialization.
Technology Innovation:
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Advanced materials synthesis and coating technologies for LNMO
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Focus on developing cobalt-free cathode chemistries for sustainable battery value chains.
Technology Innovation:
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Development of high-voltage cathode materials with improved stability
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Integration of recycled materials into new LNMO cathode production
1️⃣ 10. Sumitomo Metal Mining
Headquarters: Tokyo, Japan
Key Offering: LNMO Cathode Powders, High-Voltage Battery MaterialsSumitomo Metal Mining is a leading Japanese materials company with extensive experience in battery cathode materials. The company is actively researching LNMO cathode technology to complement its existing NMC and NCA cathode business.
Technology Innovation:
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Advanced materials processing and surface modification technologies
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Strategic focus on developing next-generation cathode materials with reduced cobalt content.
🔋 Outlook: The Future of LNMO Cathode Is High-Voltage and Sustainable
The LNMO cathode market is undergoing a fundamental transformation. While traditional cathode materials still dominate in volume, the industry is investing significantly in high-voltage alternatives, advanced manufacturing processes, and sustainable supply chains.
📈 Key Trends Shaping the Market:
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Accelerating electrification of automotive and energy storage sectors globally
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Regulatory push for battery chemistries with reduced critical raw material dependence
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Increasing focus on developing cobalt-free battery solutions for sustainable manufacturing
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Growing investments in manufacturing scale-up and process optimization for LNMO production
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Advancing electrode engineering and electrolyte formulations for 5V cathode systems
Get Full Report Here: LNMO Cathode Market – View in Detailed Research Report
The companies listed above are not only supplying next-generation battery materials—they’re spearheading the high-voltage transition of global energy storage.
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