The Global Power Battery Precursor Materials Market is projected to grow significantly, driven by the escalating demand for electric vehicles (EVs) and energy storage systems. These precursor materials, which include Nickel Cobalt Manganese (NCM) and Nickel Cobalt Aluminum (NCA) varieties, are the essential building blocks for the cathodes of lithium-ion batteries. The global market was valued at an estimated multi-billion-dollar level in 2022 and is forecast to expand at a robust compound annual growth rate (CAGR) through 2029. This expansion is fueled by aggressive global electrification targets, advancements in battery technology for higher energy density, and substantial investments across the battery supply chain.

As the world accelerates its transition to clean energy, the companies producing these critical materials are at the forefront of a technological revolution. In this blog, we profile the Top 10 Companies in the Power Battery Precursor Materials Industry—a group of chemical giants, specialized refiners, and recycling pioneers that are shaping the future of energy storage and electric mobility.

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🔟 1. GEM Co., Ltd

Headquarters: Shenzhen, Guangdong, China
Key Offering: NCM Precursors (NCM523, NCM622, NCM811), NCA Precursors

GEM is a global leader in the circular economy and a major producer of battery precursor materials. The company has established a fully integrated supply chain, from resource recovery to the production of high-performance precursors, serving leading battery manufacturers worldwide.

Innovation & Sustainability Initiatives:

• Pioneering urban mining and battery recycling to create a closed-loop supply chain.

• Mass production of high-nickel NCM811 and NCA precursors for next-generation batteries.

• Strategic partnerships with global automakers and battery cell producers.

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9️⃣ 2. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-performance NCM and NCA Precursors, Cathode Active Materials

Umicore is a global materials technology and recycling group, renowned for its advanced battery materials. Its precursor and cathode materials are critical for high-energy-density batteries used in electric vehicles, emphasizing sustainability and a low carbon footprint.

Innovation & Sustainability Initiatives:

• Leading in the development of ultra-high-nickel and cobalt-free cathode technologies.

• Integrated recycling ecosystem to recover valuable metals from end-of-life batteries.

• Commitment to carbon-neutral operations by 2035.

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8️⃣ 3. CNGR Corporation

Headquarters: Ningxiang, Hunan, China
Key Offering: NCM Precursors, Nickel & Cobalt Sulfates

CNGR Advanced Material is a key global supplier of nickel and cobalt products and a major producer of NCM precursor materials. The company has a strong upstream presence in nickel refining, providing a competitive edge in the precursor market.

Innovation & Sustainability Initiatives:

• Vertically integrated operations from raw material processing to precursor synthesis.

• Significant capacity expansions to meet soaring demand for high-nickel precursors.

• Focusing on reducing production costs and environmental impact through efficient processes.

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7️⃣ 4. Brunp Recycling

Headquarters: Foshan, Guangdong, China
Key Offering: Recycled NCM Precursors, Battery Black Mass

As a subsidiary of CATL (Contemporary Amperex Technology Co. Limited), Brunp Recycling specializes in the comprehensive recycling of waste power batteries. The company turns end-of-life batteries into high-quality precursor materials, promoting a circular economy.

Innovation & Sustainability Initiatives:

• Advanced hydrometallurgical technology for high recovery rates of nickel, cobalt, and manganese.

• Strategic role in CATL’s closed-loop battery ecosystem.

• Building large-scale recycling hubs to secure a sustainable raw material supply.

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6️⃣ 5. Tanaka Chemical Corporation

Headquarters: Fukui, Japan
Key Offering: NCA Precursors, High-purity Cobalt and Nickel Compounds

Tanaka Chemical is a leading Japanese manufacturer specialized in high-purity battery materials. The company is a key supplier of NCA precursors, which are critical for high-energy-density batteries used by major automotive manufacturers.

Innovation & Sustainability Initiatives:

• Expertise in producing high-stability NCA precursors for long-life and safe batteries.

• Focus on R&D for next-generation precursor materials with improved performance.

• Commitment to stringent quality control standards demanded by the Japanese automotive industry.

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5️⃣ 6. Kelong New Energy

Headquarters: Xiamen, Fujian, China
Key Offering: NCM Precursors, Lithium Nickelate

Kelong New Energy has rapidly emerged as a significant player in the precursor materials market. The company focuses on the research, development, and production of lithium-ion battery materials, with a strong emphasis on technological innovation.

Innovation & Sustainability Initiatives:

• Development of precursors for fast-charging and high-safety battery applications.

• Expanding production capacity to reinforce its position in the global supply chain.

• Investing in R&D to reduce cobalt content and lower material costs.

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4️⃣ 7. Zhejiang Huayou Cobalt

Headquarters: Tongxiang, Zhejiang, China
Key Offering: NCM & NCA Precursors, Cobalt Products

Zhejiang Huayou Cobalt is one of the world’s largest cobalt producers and a major integrated player in the new energy battery materials sector. Its extensive upstream control over cobalt resources provides a strong foundation for its precursor business.

Innovation & Sustainability Initiatives:

• Deep vertical integration from mining and refining to precursor manufacturing.

• Significant investments in Indonesia for nickel and precursor production.

• Active participation in building responsible and traceable cobalt supply chains.

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3️⃣ 8. Fangyuan

Headquarters: Ganzhou, Jiangxi, China
Key Offering: NCM Precursors, Battery-Grade Nickel Sulfate

Fangyuan is a prominent manufacturer of non-ferrous metals and new energy materials. The company has been aggressively expanding its precursor production capacity to capitalize on the EV boom, leveraging its expertise in metal processing.

Innovation & Sustainability Initiatives:

• Rapid scaling of high-nickel NCM precursor output to meet market demand.

• Focus on cost-efficient production processes to maintain competitiveness.

• Strategic location in a region rich in rare earth and battery metal resources.

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2️⃣ 9. Ronbay Technology

Headquarters: Ningbo, Zhejiang, China
Key Offering: High-Nickel NCM Precursors (NCM8 & NCM9 Series), Single-Crystal Precursors

Ronbay Technology is a specialist in high-nickel and single-crystal NCM precursor materials. The company is recognized for its technological prowess in developing precursors that enable batteries with superior energy density and cycle life.

Innovation & Sustainability Initiatives:

• Leadership in single-crystal precursor technology for enhanced battery stability and safety.

• Strong R&D focus on pushing the limits of nickel content while maintaining structural integrity.

• Collaborations with top-tier battery makers to co-develop next-generation materials.

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1️⃣ 10. Hunan Changyuan Lico

Headquarters: Changsha, Hunan, China
Key Offering: NCM Precursors, Cathode Materials, Battery Recycling

Hunan Changyuan Lico is a key integrated enterprise in the new energy materials industry. The company engages in the entire value chain, from recycled raw materials to the production of precursors and finished cathode materials.

Innovation & Sustainability Initiatives:

• Integrated recycling and remanufacturing model for sustainable material production.

• Production of a wide range of NCM precursors to cater to diverse battery specifications.

• Expansion initiatives aimed at increasing market share in the global precursor supply market.

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🔋 Outlook: The Future of Power Battery Precursor Materials Is High-Performance and Sustainable

The power battery precursor materials market is undergoing a profound transformation. While the demand for standard NCM and NCA precursors remains strong, the industry is racing towards higher nickel content, reduced cobalt dependency, and more sustainable production methods. The strategic importance of a secure, resilient, and environmentally responsible supply chain has never been greater.

📈 Key Trends Shaping the Market:

• Accelerated shift to high-nickel (NCM811, NCA, NCM9) and manganese-rich (LMFP) precursors for greater energy density.

• Rising investments in battery recycling to create a circular economy and mitigate raw material supply risks.

• Geographic diversification of production facilities, with significant growth in Southeast Asia and Europe to reduce regional concentration.

• Increased collaboration between precursor suppliers, cathode producers, and automakers to co-develop bespoke materials for specific vehicle platforms.

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Power Battery Precursor Materials Market – View in Detailed Research Report

The companies listed above are not only supplying a critical component for the electrification of transport—they are actively engineering the next wave of energy storage innovation.