The Global LiNiMnCoO2 NMC Battery Materials Market was valued at USD 3,106 million in 2023 and is projected to reach USD 11,539.89 million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 15.70% during the forecast period (2023-2032). North America’s market was valued at USD 1,041.82 million in 2023, with a projected CAGR of 13.46% from 2025 to 2032.

As global demand for high-performance energy storage solutions accelerates, NMC battery materials have become essential components in lithium-ion batteries due to their superior energy density, thermal stability, and cost-effectiveness. This report profiles the Top 10 Companies in the LiNiMnCoO2 NMC Battery Materials Industry—key innovators driving advancements across electric vehicles, renewable energy storage, and consumer electronics.

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🔟 1. Targray

Headquarters: Kirkland, Quebec, Canada
Key Offering: NMC 811, NMC 622, NMC 532 cathode materials

Serving battery manufacturers across three continents, Targray has established itself as a premium supplier of advanced NMC cathode materials. The company’s technical expertise spans the entire battery supply chain from raw materials to finished products.

Technology Leadership:

• Pioneered commercial-scale production of high-nickel NMC cathodes (811, 622)
• Strategic partnerships with nickel mining operations in Indonesia and Canada
• 2024 expansion of cathode material production capacity by 40%

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LiNiMnCoO2 NMC Battery Materials Market – View in Detailed Research Report

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9️⃣ 2. Tmax Battery Technologies

Headquarters: Beijing, China
Key Offering: NMC cathode powders, battery precursors

This Chinese powerhouse combines advanced materials science with cost-efficient manufacturing, supplying over 15% of global NMC cathode demand. Tmax holds 47 patents in cathode material processing technologies.

Technology Leadership:

• Proprietary atomic layer deposition (ALD) coating technology
• World’s largest precursor production facility in Jiangsu Province
• Annual R&D investment exceeding USD 85 million

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8️⃣ 3. Sumitomo Metal Mining

Headquarters: Tokyo, Japan
Key Offering: Ni-rich NMC cathode materials, precursor materials

Leveraging its century of experience in nickel refining, Sumitomo produces ultra-high purity cathode materials for premium automotive batteries. The company supplies major Japanese and Korean battery manufacturers.

Technology Leadership:

• 90%+ nickel content NMC cathodes for 500+ km EV range
• Patented spherical particle morphology technology
• Zero wastewater discharge production process

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7️⃣ 4. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: NMC cathode active materials, battery solutions

BASF’s Catalyst division has become a major force in battery materials through strategic acquisitions and organic R&D. The company operates cathode material production facilities in Europe, North America, and Asia.

Technology Leadership:

• HEDTM-2 technology extending battery cycle life by 30%
• First commercial-scale cathode recycling plant in Schwarzheide
• Cobalt-reduced NMC formulations (622R, 811R)

Download FREE Sample Report:
LiNiMnCoO2 NMC Battery Materials Market – View in Detailed Research Report

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6️⃣ 5. Umicore

Headquarters: Brussels, Belgium
Key Offering: NMC cathode materials, battery recycling

Umicore’s closed-loop business model sets it apart in sustainable battery materials. The company recovers over 95% of critical metals from spent batteries for reuse in new cathodes.

Technology Leadership:

• Proprietary ultra-fine powder technology for fast charging
• Europe’s largest recycling capacity (7,000 tons/year)
• Solar-powered cathode production in Poland

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5️⃣ 6. LG Chem

Headquarters: Seoul, South Korea
Key Offering: NMC cathode materials, battery cells

As both supplier and manufacturer, LG Chem offers fully integrated battery solutions. The company’s cathode materials power its own batteries as well as third-party customers.

Technology Leadership:

• Stabilized high-voltage NMC (4.4V+) technology
• Artificial intelligence-driven material development
• World’s first gigawatt-scale cathode plant in the U.S.

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4️⃣ 7. L&F Co

Headquarters: Daegu, South Korea
Key Offering: NMC cathode materials, precursor chemicals

Specializing in high-power applications, L&F’s cathodes enable ultra-fast charging while maintaining cycle life. The company supplies premium cathode materials to automotive OEMs worldwide.

Technology Leadership:

• Single-crystal NMC particles for enhanced durability
• Mn-rich surface modification technology
• Automated precision dosing manufacturing systems

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3️⃣ 8. Nichia Corporation

Headquarters: Tokushima, Japan
Key Offering: High-nickel NMC cathode materials

The materials science pioneer has applied its expertise in inorganic chemistry to develop unique cathode compositions. Nichia’s materials excel in extreme temperature performance.

Technology Leadership:

• Nano-architectured cathode particle design
• Patented Li-rich NMC formulations
• Additive technologies reducing gas generation

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2️⃣ 9. Gelon LIB Group

Headquarters: Shenzhen, China
Key Offering: NMC cathode materials, battery solutions

Gelon has rapidly expanded from domestic leader to global competitor through strategic technology licensing and capacity expansions. The company operates six cathode material production bases across China.

Technology Leadership:

• Industry-leading production yields (98%)
• Moisture-resistant surface treatment processes
• Automated quality control systems with 100% inspection

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1️⃣ 10. NOVONIX

Headquarters: Brisbane, Australia
Key Offering: Synthetic graphite, NMC cathode materials

While primarily known for anode materials, NOVONIX has developed innovative dry-particle cathode technologies that eliminate solvents from the manufacturing process.

Technology Leadership:

• Dry particle microgranulation process
• Waterless cathode manufacturing technology
• U.S. Department of Energy-funded research facility

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LiNiMnCoO2 NMC Battery Materials Market – View in Detailed Research Report

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🔋 Outlook: The Evolution of NMC Battery Materials

The NMC cathode market is undergoing fundamental transformations as battery technology advances. While standard NMC 523 and 622 dominate current production, future growth will be driven by three key developments:

📈 Key Market-Shaping Trends:

• Nickel Maximization: Shift toward 90%+ nickel content cathodes boosting energy density
• Cobalt Reduction: Emerging cobalt-free NMA formulations entering pilot production
• Advanced Manufacturing: Dry processing techniques reducing environmental impact
• Circular Economy: Closed-loop recycling becoming commercially viable

Get Full Report Here:
LiNiMnCoO2 NMC Battery Materials Market – View in Detailed Research Report

The companies profiled above aren’t just supplying materials—they’re building the foundation for the next generation of energy storage solutions that will power our sustainable future.