Electric Vehicle Battery Materials Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Electric Vehicle Battery Materials Market report segments the industry into Battery Type (Lithium-ion, Lead-acid, Other Battery Types), Material (Anode, Cathode, Separator, Electrolyte, Other Materials), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The report includes Market Size and Demand Forecast till 2029 for regions. Get five years of historical data and market forecasts.

UPTO 30% OFF

Electric Vehicle Battery Materials Market Size

Compare market size and growth of Electric Vehicle Battery Materials Market with other markets in Energy & Power Industry

Electric Vehicle Battery Materials Market Analysis

The Electric Vehicle Battery Materials Market size is estimated at USD 30.35 billion in 2025, and is expected to reach USD 56.77 billion by 2030, at a CAGR of 13.34% during the forecast period (2025-2030).

  • Over the medium period, the growing adoption of electric vehicles and the decreasing price of lithium-ion batteries are expected to drive the market during the forecast period.
  • On the other hand, the supply chain gap in battery materials created by the monopoly of some countries is expected to restrain market growth in the future.
  • However, the ongoing research and advancement in different battery materials for more sustainable cathode and anode, as well as efficient electrolytes, may offer opportunities for market growth.
  • Asia-Pacific dominates the market, owing to the growing application in the electric vehicle industry, which augments the demand for battery material.

Asia-Pacific is Expected to Dominate the Market

  • Asia-Pacific is expected to dominate the electric vehicle battery materials market for electric vehicles, as the region accounts for the majority of battery demand and production, especially in China. China's battery production fulfills the majority of the demand for electric vehicle batteries.
  • According to the International Energy Agency, in 2023, the demand for electric vehicle batteries in China accounted for 417 GWh, up from 314 GWh last year. Europe produced 185 GWh, and the United States produced 99 GWh in 2023. Thus, the increasing demand for electric vehicle batteries is leading China to produce more, and the demand for electric vehicle battery materials is expected to rise during the forecast period.
  • Further, China is the world’s largest exporter of electric vehicle batteries, with around 12% of its electric vehicle batteries exported in 2023. The country has a more integrated and sustainable supply chain for manufacturing electric vehicle batteries due to the majority of battery materials being produced domestically.
  • Moreover, as of 2023, China accounted for almost 90% of the world's cathode-active material manufacturing capacity and over 97% of anode-active material production. Korea holds a notable 9% share, with Japan following at 3%, making them the only significant players outside China in the cathode active material segment.
  • The region is expected to grow significantly in the electric vehicle battery materials market due to the increasing investments and government support. For instance, in May 2024, China announced it would invest USD 845 million in developing next-generation battery technology that powers electric vehicles. Such investments will boost the demand for electric vehicle battery material during the forecast period.
  • Thus, owing to the above-mentioned developments, Asia-Pacific is expected to dominate the market.

Electric Vehicle Battery Materials Industry Overview

The electric vehicle battery materials market is semi-fragmented. Some of the major players in the market (in no particular order) include Targray Technology International Inc., BASF SE, Mitsubishi Chemical Group Corporation, UBE Corporation, and Umicore.

Electric Vehicle Battery Materials Market Leaders

  1. Targray Technology International Inc.

  2. BASF SE

  3. Mitsubishi Chemical Group Corporation

  4. UBE Corporation

  5. Umicore SA

  6. *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competitors?
Download PDF

Electric Vehicle Battery Materials Market News

  • January 2024: 24M introduced a battery separator, the 24M ImpervioTM, to revolutionize battery safety in electric vehicles. This innovative technology marks a significant leap in safety for both lithium-ion and lithium-metal batteries.
  • January 2024: Researchers at MIT developed a novel battery material poised to revolutionize electric vehicle power sources. This lithium-ion battery features an innovative organic material-based cathode, a departure from the conventional use of cobalt or nickel.

Electric Vehicle Battery Materials Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2029
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 The Growing Adoption of Electric Vehicles
    • 4.5.1.2 Decreasing Price of Lithium-ion Batteries
    • 4.5.2 Restraints
    • 4.5.2.1 The Supply Chain Gap
  • 4.6 Supply Chain Analysis
  • 4.7 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry
  • 4.8 Investment Analysis

5. MARKET SEGMENTATION

  • 5.1 Battery Type
    • 5.1.1 Lithium-ion
    • 5.1.2 Lead-acid
    • 5.1.3 Other Battery Types
  • 5.2 Material
    • 5.2.1 Anode
    • 5.2.2 Cathode
    • 5.2.3 Separator
    • 5.2.4 Electrolyte
    • 5.2.5 Other Materials
  • 5.3 Geography [Market Size and Demand Forecast till 2029 (for regions only)]
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 France
    • 5.3.2.3 United Kingdom
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 NORDIC
    • 5.3.2.7 Russia
    • 5.3.2.8 Turkey
    • 5.3.2.9 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 India
    • 5.3.3.3 Australia
    • 5.3.3.4 Japan
    • 5.3.3.5 South Korea
    • 5.3.3.6 Malaysia
    • 5.3.3.7 Thailand
    • 5.3.3.8 Indonesia
    • 5.3.3.9 Vietnam
    • 5.3.3.10 Rest of Asia-Pacific
    • 5.3.4 Middle East and Africa
    • 5.3.4.1 Saudi Arabia
    • 5.3.4.2 United Arab Emirates
    • 5.3.4.3 Nigeria
    • 5.3.4.4 Egypt
    • 5.3.4.5 Qatar
    • 5.3.4.6 South Africa
    • 5.3.4.7 Rest of Middle East and Africa
    • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Colombia
    • 5.3.5.4 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Targray Technology International Inc.
    • 6.3.2 BASF SE
    • 6.3.3 Mitsubishi Chemical Group Corporation
    • 6.3.4 UBE Corporation
    • 6.3.5 Umicore
    • 6.3.6 Sumitomo Chemical Co. Ltd
    • 6.3.7 Nichia Corporation
    • 6.3.8 ENTEK International LLC
    • 6.3.9 Arkema SA
    • 6.3.10 Kureha Corporation
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Companies
  • 6.5 Market Ranking Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 The Increasing Research and Development of Other Battery Materials
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Electric Vehicle Battery Materials Industry Segmentation

Electric vehicle (EV) battery materials are the specific substances and components used in the construction of batteries for powering electric vehicles. These materials determine electric vehicles' efficiency, range, longevity, and safety.

The electric vehicle battery materials market is segmented by battery type (lithium-ion, lead-acid, and other battery types), material (cathode, anode, electrolyte, separator, and other materials), and geography. The report also covers the market size and forecasts for the electric vehicle battery materials market across major regions. The report offers the market size in value terms (USD) for all the above-mentioned segments.

Battery Type Lithium-ion
Lead-acid
Other Battery Types
Material Anode
Cathode
Separator
Electrolyte
Other Materials
Geography [Market Size and Demand Forecast till 2029 (for regions only)] North America United States
Canada
Rest of North America
Europe Germany
France
United Kingdom
Italy
Spain
NORDIC
Russia
Turkey
Rest of Europe
Asia-Pacific China
India
Australia
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
Middle East and Africa Saudi Arabia
United Arab Emirates
Nigeria
Egypt
Qatar
South Africa
Rest of Middle East and Africa
South America Brazil
Argentina
Colombia
Rest of South America
Battery Type
Lithium-ion
Lead-acid
Other Battery Types
Material
Anode
Cathode
Separator
Electrolyte
Other Materials
Geography [Market Size and Demand Forecast till 2029 (for regions only)]
North America United States
Canada
Rest of North America
Europe Germany
France
United Kingdom
Italy
Spain
NORDIC
Russia
Turkey
Rest of Europe
Asia-Pacific China
India
Australia
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
Middle East and Africa Saudi Arabia
United Arab Emirates
Nigeria
Egypt
Qatar
South Africa
Rest of Middle East and Africa
South America Brazil
Argentina
Colombia
Rest of South America
Need A Different Region or Segment?
Customize Now

Electric Vehicle Battery Materials Market Research FAQs

How big is the Electric Vehicle Battery Materials Market?

The Electric Vehicle Battery Materials Market size is expected to reach USD 30.35 billion in 2025 and grow at a CAGR of 13.34% to reach USD 56.77 billion by 2030.

What is the current Electric Vehicle Battery Materials Market size?

In 2025, the Electric Vehicle Battery Materials Market size is expected to reach USD 30.35 billion.

Who are the key players in Electric Vehicle Battery Materials Market?

Targray Technology International Inc., BASF SE, Mitsubishi Chemical Group Corporation, UBE Corporation and Umicore SA are the major companies operating in the Electric Vehicle Battery Materials Market.

Which is the fastest growing region in Electric Vehicle Battery Materials Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Electric Vehicle Battery Materials Market?

In 2025, the Asia Pacific accounts for the largest market share in Electric Vehicle Battery Materials Market.

What years does this Electric Vehicle Battery Materials Market cover, and what was the market size in 2024?

In 2024, the Electric Vehicle Battery Materials Market size was estimated at USD 26.30 billion. The report covers the Electric Vehicle Battery Materials Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Electric Vehicle Battery Materials Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Electric Vehicle Battery Materials Industry Report

Statistics for the 2025 Electric Vehicle Battery Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Vehicle Battery Materials analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Access Report