Global Li ion Battery Ternary Precursor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Li ion Battery Ternary Precursor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Li Ion Battery Ternary Precursor is an important raw material for preparing positive electrode materials, which plays a decisive role in the performance indicators of positive electrode materials. The ternary precursor is the front-end raw material for the preparation of ternary cathode materials. It is a multi-element hydroxide co-precipitation product prepared by a solution process and can be divided into NCM and NCA ternary precursors.

Market Overview:

The latest research study on the global Li ion Battery Ternary Precursor market finds that the global Li ion Battery Ternary Precursor market reached a value of USD 17367.8 million in 2022. It’s expected that the market will achieve USD 105598.8 million by 2028, exhibiting a CAGR of 35.1% during the forecast period.

Factors Challenging the Market

The customers of the ternary precursor production company mainly face emerging fields such as new energy vehicles, electric tools, 3C Electronics & Energy Storage, and electric two-wheelers. The final consumers of the Li Ion Battery Ternary Precursor industry are mainly individuals and household consumers, whose demand changes are greatly affected by the macro economy. In recent years, affected by factors such as global inflation, the war between Russia and Ukraine, and the ongoing new crown epidemic, the world's economic growth has slowed down, which may have an adverse impact on the income and consumption demand of individual and household consumers, thus affecting the Li Ion Battery Ternary Precursor's Downstream terminal market demand, and adversely affect the company's profitability.
In recent years, with the rapid development of the ternary lithium battery market, ternary precursors are the key raw materials for ternary cathode materials, and the market demand continues to grow rapidly, attracting a large number of new companies to join. At the same time, existing ternary precursor companies have expanded their production capacity one after another, and downstream ternary cathode material manufacturers have extended upstream, leading to increasingly fierce competition in the industry. Production enterprises began to gradually differentiate, and the market share of leading enterprises continued to increase. If new entrants and small companies cannot continue to maintain their competitive advantages in terms of technology, cost, and brand, it will have a significant adverse impact on the company's market share and operating performance.

Region Overview:

In 2022, the share of the Li ion Battery Ternary Precursor market in North America stood at 73.00%.

Company Overview:

CNGR Corporation, GEM Co., Ltd, Brunp Recycling were the top 3 players in the Li ion Battery Ternary Precursor market in 2023, taking up a market share of 43.37% together.

Segmentation Overview:

Among different product types, NCM Type segment is anticipated to contribute the largest market share in 2028.

NCM Type

NCM ternary precursors and lithium compounds (lithium carbonate or lithium hydroxide) are converted into finished ternary cathode materials through a sintering reaction, which has an important impact on the performance indicators of ternary cathode materials.

NCA Type

NCA is used as the active material on the positive electrode (cathode when the battery is discharged). NCA consists of cations of the chemical elements lithium, nickel, cobalt, and aluminum. Nickel-cobalt-aluminum (NCA) batteries, which are similar to NMC battery packs, have low penetration -- only in older Tesla EV models. NCA batteries have high energy density but replace the environmentally unsustainable manganese material with aluminum to improve their lifetime compared to NMC.

Application Overview:

By application, the New Energy Vehicles segment occupied the biggest share from 2018 to 2022.

New Energy Vehicles

Ternary precursor materials are mainly used in various new energy vehicles. With the full recovery of the global economy and the increase in exports at home and abroad, the production and sales of new energy vehicles continue to increase, and the field of energy storage has achieved simultaneous growth. At the same time, there is a large demand for ternary precursors as cathode materials. In recent years, benefiting from the simultaneous development of power, energy storage, and small batteries, the lithium battery market has grown rapidly, which has led to an increase in upstream cathode material shipments.

3C Electronics & Energy Storage

3C (computer, communication, and consumer electronics) industry assembly. The 3C (computer, communication, and consumer electronics) manufacturing industry is one of the most important industries in the world today. In the field of 3C Electronics & Energy Storage, ternary precursor materials mainly focus on the production of communication equipment and energy storage devices such as notebook computers, digital cameras, drones, and robots.

Key Companies in the global Li ion Battery Ternary Precursor market covered in Chapter 3:

NGR Corporation
Brunp Recycling
GEM Co., Ltd
Jiana Energy
Kelong New Energy
Tanaka Chemical Corporation
GanfengLithium
Fangyuan
Zhejiang Huayou Cobalt
Ronbay Technology
Jinchuan Group
Umicore

In Chapter 4 and Chapter 14.2, on the basis of types, the Li ion Battery Ternary Precursor market from 2018 to 2029 is primarily split into:

NCM Type
NCA Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Li ion Battery Ternary Precursor market from 2018 to 2029 covers:

New Energy Vehicles
3C Electronics & Energy Storage

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)