The Global Ni-Co-Mn Ternary Precursors Market was valued at USD 4.96 Billion in 2025 and is projected to reach USD 10.70 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period. This robust growth is being driven by escalating demand for electric vehicles, rapid advancements in high-nickel cathode technologies, and the accelerating global push toward clean energy transitions across automotive, consumer electronics, and stationary storage sectors.

As the battery materials industry evolves toward higher energy densities and more sustainable supply chains, the spotlight falls on the key manufacturers who are driving innovation, scale, and performance in precursor chemistry. In this blog, we profile the Top 10 Companies in the Ni-Co-Mn Ternary Precursors Industry—a mix of vertically integrated giants, specialty chemical producers, and recycling-forward pioneers shaping the future of global battery manufacturing.

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🕀 1. Umicore

Headquarters: Brussels, Belgium
Key Offering: High-purity NCM622, NCM811 Ternary Precursors, Battery Materials

Umicore stands as one of the most recognized names in battery materials globally, with a strong foothold in high-purity Ni-Co-Mn ternary precursors for premium lithium-ion battery applications. The company serves leading automotive OEMs and battery cell manufacturers across Europe, Asia, and North America, leveraging decades of expertise in materials science and sustainable production.

Key Strengths:

• Advanced production processes enabling precise stoichiometric control for NCM811 and NCM622 formulations

• Strategic partnerships with major European automakers to support EV battery supply chains

• Strong commitment to responsible sourcing and closed-loop battery recycling

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9️⃣ 2. Huayou Cobalt

Headquarters: Tongxiang, Zhejiang, China
Key Offering: NCM523, NCM622, NCM811 Ternary Precursors, Cobalt Chemicals

Huayou Cobalt is one of China’s most vertically integrated battery materials companies, controlling significant portions of the supply chain from upstream cobalt and nickel sourcing all the way through to finished ternary precursor production. The company has aggressively expanded its NCM811 capacity in recent years to meet surging demand from EV battery manufacturers operating at gigafactory scale.

Key Strengths:

• Vertically integrated operations spanning mining, refining, and precursor synthesis

• Strategic capacity expansions targeting high-nickel precursor variants for next-generation EVs

• Active partnerships with leading cathode material producers and battery cell manufacturers in China and beyond

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8️⃣ 3. CNGR Advanced Material

Headquarters: Guiyang, Guizhou, China
Key Offering: NCM811, NCM622, High-Nickel Ternary Precursors

CNGR Advanced Material has emerged as one of China’s fastest-growing ternary precursor producers, with a sharp focus on high-nickel formulations that cater directly to the performance requirements of premium electric vehicles. The company has made significant capital investments in expanding production capacity and improving process control technologies to deliver consistent, high-quality precursors at industrial scale.

Key Strengths:

• Rapid capacity buildout to serve both domestic and international cathode material producers

• Specialization in NCM811 and ultra-high nickel variants for advanced EV battery applications

• Ongoing R&D investment in single-crystal precursor morphologies for improved cycle stability

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7️⃣ 4. GEM Co., Ltd.

Headquarters: Shenzhen, Guangdong, China
Key Offering: Recycled and Virgin NCM Ternary Precursors, Battery-Grade Cobalt Sulfate

GEM Co., Ltd. occupies a unique position in the Ni-Co-Mn ternary precursors landscape by combining large-scale virgin precursor manufacturing with a growing recycling-derived supply stream. The company processes spent batteries and electronic waste to recover critical metals, which are then reintroduced into precursor production—an approach that directly addresses both cost and sustainability pressures in the battery supply chain.

Key Strengths:

• Integration of battery recycling with primary precursor production, reducing raw material dependency

• Broad product portfolio spanning NCM111, NCM523, NCM622, and NCM811 formulations

• Supply agreements with major battery cell manufacturers across China, South Korea, and Europe

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6️⃣ 5. Brunp Recycling

Headquarters: Foshan, Guangdong, China
Key Offering: Recycling-Derived NCM Precursors, Cathode Material Precursors

Brunp Recycling, a subsidiary of CATL—the world’s largest battery manufacturer—is a key player in the closed-loop battery materials ecosystem. The company specializes in recovering nickel, cobalt, and manganese from spent lithium-ion batteries and converting them back into high-quality ternary precursors. Its direct relationship with CATL provides a structural advantage in understanding downstream performance requirements and quality standards.

Key Strengths:

• Direct integration with CATL’s battery manufacturing and recycling ecosystem

• Advanced hydrometallurgical processes for high-purity metal recovery from spent cells

• Growing capacity to supply recycled-origin precursors meeting stringent cathode manufacturer specifications

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5️⃣ 6. Tanaka Chemical Corporation

Headquarters: Fukui, Japan
Key Offering: High-Purity NCM Ternary Precursors, Specialty Battery Materials

Tanaka Chemical Corporation is Japan’s leading producer of Ni-Co-Mn ternary precursors, supplying high-purity materials to Japanese and global cathode material manufacturers. The company is recognized for its stringent quality control standards, which align with the demanding specifications of automotive-grade battery applications. Its expertise in specialty chemical processing underpins a reputation for consistency and reliability in precursor supply.

Key Strengths:

• Established track record supplying premium-grade precursors to Japan’s leading battery material producers

• Strong focus on particle morphology control and uniform elemental distribution for improved cathode performance

• Collaborative relationships with automotive and electronics OEMs in Japan and South Korea

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4️⃣ 7. Guangdong Dowstone Technology

Headquarters: Guangdong, China
Key Offering: NCM523, NCM622, NCM811 Spherical Ternary Precursors

Guangdong Dowstone Technology has built a solid reputation as a reliable mid-tier producer of spherical Ni-Co-Mn ternary precursors, with a particular focus on optimized particle morphology for high tap density and electrode packing efficiency. The company serves a diverse customer base spanning EV battery producers and 3C electronics manufacturers, offering competitive pricing alongside consistent product quality.

Key Strengths:

• Specialization in spherical precursor morphologies that enhance electrode manufacturing performance

• Diversified product range covering multiple NCM ratios to address varying application requirements

• Competitive cost structure supported by efficient co-precipitation process designs

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3️⃣ 8. Beijing Easpring Material Technology

Headquarters: Beijing, China
Key Offering: NCM Ternary Precursors, Lithium Cobalt Oxide Precursors

Beijing Easpring Material Technology is a publicly listed Chinese company that has long maintained a significant role in the cathode materials and precursors supply chain. The company produces a broad range of NCM precursor types and invests actively in R&D to develop next-generation compositions that align with the industry’s shift toward higher nickel content and improved thermal safety. Its dual focus on precursors and finished cathode materials gives it meaningful insight into end-user performance demands.

Key Strengths:

• Integrated production of both NCM precursors and cathode active materials, enabling tight quality alignment

• Active R&D pipeline targeting ultra-high nickel and single-crystal precursor compositions

• Long-standing supply relationships with domestic and international battery cell producers

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2️⃣ 9. HENAN KELONG NEW ENERGY

Headquarters: Xinxiang, Henan, China
Key Offering: NCM111, NCM523, NCM622 Ternary Precursors

HENAN KELONG NEW ENERGY is a growing force in China’s ternary precursor manufacturing sector, with production facilities in Henan province strategically positioned to serve battery manufacturers across central and eastern China. The company focuses on delivering cost-competitive NCM precursors across multiple formulation types, addressing demand from both EV battery producers and consumer electronics battery makers. Its expanding production capacity reflects the broader industry trend of rapid supply buildout to meet surging downstream demand.

Key Strengths:

• Competitive manufacturing cost structure supported by regional resource advantages in Henan

• Diversified NCM precursor portfolio serving both automotive and 3C electronics applications

• Ongoing capacity expansion programs aligned with the projected acceleration of EV adoption through 2030

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1️⃣ 10. Greatpower Technology

Headquarters: Guangzhou, Guangdong, China
Key Offering: NCM Ternary Precursors, Lithium Battery Materials

Greatpower Technology rounds out the top ten with a well-established presence in the Chinese battery materials market. The company produces Ni-Co-Mn ternary precursors alongside a broader portfolio of lithium battery materials, supplying customers across the EV, energy storage, and consumer electronics segments. Its operational experience in large-scale co-precipitation processes and its established distribution network make it a reliable supplier for cathode manufacturers seeking consistent, specification-compliant precursor materials.

Key Strengths:

• Broad customer base spanning EV battery, grid storage, and consumer electronics applications

• Established large-scale hydroxide co-precipitation capabilities for consistent batch quality

• Strategic focus on expanding into higher-nickel NCM formulations to capture premium segment growth

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🌎 Outlook: The Future of Ni-Co-Mn Ternary Precursors Is Higher-Nickel and Greener

The Ni-Co-Mn ternary precursors market is undergoing a fundamental transformation. While NCM523 and NCM622 formulations remain in broad commercial use, the industry is decisively shifting toward high-nickel variants—particularly NCM811 and emerging ultra-high nickel compositions—as battery manufacturers chase higher energy density targets. At the same time, recycling-derived precursors are gaining commercial traction, offering a more sustainable and potentially cost-stabilizing alternative to virgin metal-based production.

📈 Key Trends Shaping the Market:

• Accelerating shift toward NCM811 and high-nickel precursors driven by EV range requirements

• Rapid expansion of precursor recycling capabilities to reduce reliance on mined cobalt and nickel

• Geographic diversification of precursor manufacturing into North America and Europe amid supply chain reshoring trends

• Policy incentives including the US Inflation Reduction Act and EU Battery Regulation accelerating domestic precursor investment

• Single-crystal NCM precursor innovation unlocking higher voltage stability and longer cycle life for next-generation cells

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Ni-Co-Mn Ternary Precursors Market – View in Detailed Research Report

The companies profiled above are not only supplying the materials that power the global EV revolution—they are spearheading the green transformation of the battery supply chain, building the foundation for a cleaner, more electrified world.