Global Precursor Materials Market Growth 2025-2031

The global Precursor Materials market size is predicted to grow from US$ 17140 million in 2025 to US$ 38880 million in 2031; it is expected to grow at a CAGR of 14.6% from 2025 to 2031.

Precursor materials are intermediate products with highly uniform distribution of various elements prepared by solution process can be converted into finished products by chemical reaction and play a decisive role in the performance index of finished products. The cathode material is the key material for lithium ion batteries, and the precursor is an important raw material for the production of lithium ion cathode materials. used for energy storage devices of various Power Battery, Consumer Battery, digital cameras, drones, robots, solar energy, wind energy, etc., as well as communication equipment and backup power of such base stations.

Global key players of precursor materials include CNGR Corporation, GEM Co., Ltd, Zhejiang Huayou Cobalt, Brunp Recycling, Umicore, etc. The top five players hold a share about 58%.

Precursor Materials are mainly classified into the following types: NCM and NCA type, and NCM type is the most widely used type which takes up about 94.1% of the total sales. At present, high-nickel materials such as NCM811 and NCA9 series have become mainstream in the market. GEM's ultra-high nickel and low-cobalt (1.5% cobalt) precursors with Ni content of 96% was commercialized. NCM91 polycrystalline and NCM90 single crystals will enter the mass production stage, and NCMA quaternary precursors will enter the mass production certification stage.

Precursor Materials have wide range of applications, such as power battery and consumer battery. Power battery was the most widely used area which took up about 73% of the global market. The rapid development of this field is mainly due to the rapid growth of new energy vehicles.

LP Information, Inc. (LPI) ' newest research report, the “Precursor Materials Industry Forecast” looks at past sales and reviews total world Precursor Materials sales in 2024, providing a comprehensive analysis by region and market sector of projected Precursor Materials sales for 2025 through 2031. With Precursor Materials sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Precursor Materials industry.

This Insight Report provides a comprehensive analysis of the global Precursor Materials landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Precursor Materials portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Precursor Materials market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Precursor Materials and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Precursor Materials.

This report presents a comprehensive overview, market shares, and growth opportunities of Precursor Materials market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
NCM Type
NCA Type

Segmentation by Application:
Power Battery
Consumer Battery
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
GEM Co., Ltd
Umicore
CNGR Corporation
Brunp Recycling
Tanaka Chemical Corporation
Kelong New Energy
Zhejiang Huayou Cobalt
Fangyuan
Greatpower Technology
Ronbay Technology
Hunan Changyuan Lico
GanfengLithium
Jiana Energy
Jinchuan Group
Zhejiang Power

Key Questions Addressed in this Report

What is the 10-year outlook for the global Precursor Materials market?

What factors are driving Precursor Materials market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Precursor Materials market opportunities vary by end market size?

How does Precursor Materials break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.