LIB 4 Major Materials Market and SCM Analysis (2025.H1)
1. Introduction
Report Overview
This report
aims to analyze the lithium-ion battery (LIB) market and supply chain
management (SCM) trends for each half of 2024 (H1/H2), and to comprehensively
review the market trends of the four key materials—cathode, anode, electrolyte,
and separator—for the first half of 2025.
Overview of
Lithium-ion Batteries (LIB)
LIBs are
widely used energy storage devices across various sectors such as portable
electronics, electric vehicles (EVs), and energy storage systems (ESS). The key
components of LIBs are cathode, anode, electrolyte, and separator. The quality
and performance of these four major materials directly determine the efficiency
and lifespan of the battery.
Importance of
the 4 Major Materials
The cathode,
anode, electrolyte, and separator each play a critical role in lithium-ion
storage and movement, electrical characteristics, and safety. The performance
and cost of a battery vary depending on the composition and properties of each
material. Therefore, understanding market trends and supply chain conditions of
these materials is essential for developing successful strategies in the LIB
industry.
2. LIB Market
Overview in 2024
Market Size
and Growth Rate
In the first
half of 2024, the LIB market grew approximately 23% YoY in terms of shipments,
reaching a market size of around USD 51.5 billion based on pack value. While
growth in EV demand slowed, the expansion of energy storage systems (ESS) for
renewable energy emerged as a key growth driver.
Key Market
Trends
Major players
continued to focus on expanding production capacity and driving technological
innovation, with high-voltage, high-energy-density batteries and fast-charging
technologies drawing particular attention. In response to demands for cost
reduction and improved price competitiveness, the adoption of cost-effective
LFP batteries increased. Leading companies such as CATL also made efforts to
offset LFP’s weaknesses by developing alternatives like LMFP.
Additionally, rapid progress in fast-charging and high-performance battery technologies was observed, with expectations for the commercial launch of improved cost and thermal stability batteries using 4680 cells in the second half of 2025.
Status of
Major LIB Manufacturers
The combined
M/S of Korea’s top three battery manufacturers (LG Energy Solution, Samsung
SDI, SK on) in the EV/ESS sector dropped to 15.6% (207GWh) in 2024, down 8
percentage points from the previous year. In 2023, they accounted for 24% of
the total 1,050GWh with a combined volume of 252GWh. The M/S decreased by 8
percentage points YoY, while total shipments fell by 17.8%.
LG Energy
Solution posted a 6% decline YoY to 128GWh, ranking 3rd globally. Samsung SDI
saw a 17% drop to 48GWh, falling from 4th to 7th place. SK on experienced the
sharpest decline, dropping 46% YoY to 31GWh and falling to 10th place, largely
due to delayed EV OEM orders.
China’s CATL
maintained its dominant No. 1 position with 24% YoY growth, reaching 474GWh.
BYD followed with 192GWh, up 23% YoY, backed by EV sales exceeding 4 million
units. EVE surged to 4th place with 80.4GWh, driven by over 50GWh in ESS
shipments—a 92.8% increase. CALB rose to 5th with 64GWh (52% growth), while
Guoxuan (50GWh, +61%) and Sunwoda (34GWh, +125%) ranked 6th and 9th,
respectively.
Panasonic,
the only Japanese company in the Top 10, recorded 42GWh in 2024, falling from
5th to 8th with a 5% YoY decline.
Changes and
Outlook in the Global Market
With the
implementation of the IRA in the U.S. and the Critical Raw Materials Act in
Europe, the battery markets in these regions are expected to expand rapidly. In
response, Korean, Chinese, and Japanese battery manufacturers are accelerating
local investments, accompanied by 4 major materials suppliers either entering
the market independently or through joint ventures. Direct supply contracts
with global automotive OEMs are also emerging. Going forward, materials
suppliers that successfully establish an early foothold in these regions are
likely to play a key role in reshaping the industry's competitive landscape.
3. Report
Contents
Detailed
Analysis of the 2024 LIB and 4 Major Materials Markets
The first
section provides an overview of the downstream LIB markets from Q1 2023 to Q1
2024, along with annual and mid-to-long-term outlooks. It includes SNE’s
insights into the global LIB markets by region and application—covering
consumer electronics (CE), electric vehicles (xEVs), and energy storage systems
(ESS)—as well as the 2025 annual forecast.
The second
section offers an in-depth analysis of key LIB materials manufacturers in
Korea, China, and Japan. It covers production capacities and supply volumes of
major global companies, as well as detailed supply chain (SCM) structures for
each material. Additionally, it examines pricing trends of major materials and
raw materials from 2020 to Q1 2024, and provides market outlooks for 2024 and
2025.
The final
section breaks down major material suppliers by country (Korea, China, Japan),
reviewing their business history, current status, and product offerings. It
also includes a comprehensive review of the Top 10 leading companies for each
material.
4. Strong
Points of This Report
(1) Insight
into Recent Market Trends:
The report
provides a comprehensive overview of global market trends and key developments
in the LIB 4 major materials sector, including demand patterns and supplier
performance. It offers in-depth analysis by material type, region, and
application.
(2) Supplier
and Demand-Side Analysis:
Detailed data
is provided on supply status by major LIB material suppliers and demand by cell
manufacturers. It also includes price trends and annual forecasts for each
material, along with quarterly updates on leading Korean, Chinese, and Japanese
producers. Readers can also review supplier rankings and product-specific
standings over the past three years.
(3) SCM Overview:
Provides an
overview of major LIB manufacturers' supply chains for the 4 major materials.
(4) Analysis
of Material Usage Trends:
Details
quarterly changes in material usage by key LIB makers from Q1 2023 to Q1 2025.
(5) 2025
Outlook and Mid-to-Long-Term Forecast Through 2035:
Based on
2023–2024 performance data, offers a 2025 market outlook and long-term
forecasts through 2035 to support procurement strategies.
This report
is published semiannually to provide a comprehensive understanding of the
lithium-ion battery and 4 major materials markets, and is expected to serve as
a key reference for future market forecasting.
[Contents]
1. EV / LIB
Market Dynamics
Global EV/LIB Market Review &
Forecast
1.1 Major LIB Companies Battery (xEV/ESS)
Shipments in 2024
1.2 Trend and forecast of LIB company
shipments by year (Shipment)
1.3 Trends in major LIB companies' utilization
rates
1.4 EV mid- to long-term market outlook
(~2035)
1.5 ESS mid- to long-term market outlook
(~2035)
1.6 Global Battery Supply and Demand Outlook
1.7 North America/Europe Battery Supply and
Demand Outlook
(Reference) Battery Usage vs. Shipment Volume
(Reference) Usage Logic of the Four Major Materials
2. Cathode
Market Review & Forecast
2.1 Cathode Demand Trends
2.1.1 Cathode Demand Trends by Chemical type (`23 ~ `24)
2.1.2 Cathode Demand Trends by Region (`23 ~ `24)
2.1.3 Cathode Demand Trends by Application (`23 ~ `24)
2.1.4 Cathode Consumption Trends by Cell makers
2.1.5 Cathode Consumption Forecast
2.2 Cathode Manufacturers Market Share
2.2.1 Cathode Market Share by Manufacturers
2.2.2 Cathode Market Share by Manufacturers (2024)
2.2.3 Cathode Market Share by Manufacturers (2025F)
2.3 Cathode Market SCM (2024) – Ternary / LFP
2.3 Cathode Market SCM (2025F) – Ternary / LFP
2.4 Cathode Market Forecast (Mid-to-Long term)
2.4.1 Cathode Demand Forecast (`23 ~ `35) by Region / Chem.
2.4.2 Cathode Production Capacity Forecast (`23 ~`35)
2.5 Cathode & Materials Price Trends
2.5.1 Cathode Price Trends by Type (`20.1Q ~`25.1Q)
2.5.2 Cathode Precursor Price Trends by Type
2.5.3 Battery Metal Price Trends by Type
2.6 Major Cathode Manufacturers Trends
3. Anode
Market Review & Forecast
Global Anode Market Review &
Forecast
3.1 Anode Demand Trends
3.1.1 Anode Demand Trends by Chemical type (`23 ~ `24)
3.1.2 Anode Demand Trends by Region (`23 ~ `24)
3.1.3 Anode Demand Trends by Application (`23 ~ `24)
3.1.4 Anode Consumption Trends by Cell Makers
3.1.5 Anode Consumption Forecast
3.2 Anode Manufacturers Market Share
3.2.1 Anode Market Share by Manufacturers
3.2.2 Anode Market Share by Manufacturers (2024)
3.2.3 Anode Market Share by Manufacturers (2025F)
3.3 Anode Market SCM (2024) – NG / AG / Si
anode
3.3 Anode Market SCM (2025F) – NG / AG / Si
anode
3.4 Anode Market Forecast (Mid-to-Long term)
3.4.1 Anode Demand Forecast (`23 ~ `35) by Region / Chem
3.4.2 Anode Production Capacity Forecast (`23 ~`35)
3.5 Anode & Materials Price Trends
3.5.1
Graphite Anode Price Trends by Type (`20.1Q ~`25.1Q)
3.5.2 Anode Raw materials Price Trends by Type
3.6 Major Anode Manufacturers Trends
4. Separator
Market Review & Forecast
Global Separator Market Review
& Forecast
4.1Separator Demand Trends
4.1.1 Separator Demand
Trends by Type (`23 ~ `24)
4.1.2 Separator Demand
Trends by Region (`23 ~ `24)
4.1.3 Separator Demand
Trends by Application (`23 ~ `24)
4.1.4 Separator
Consumption Trends by Cell makers
4.1.5 Separator
Consumption Forecast
4.2 Separator Manufacturers Market Share
4.2.1 Separator Market Share by Manufacturers
4.2.2 Separator Market Share by Manufacturers (2024)
4.2.3 Separator Market Share by Manufacturers (2025F)
4.3 Separator Market SCM (2024) – EV / ESS /
CE
4.3 Separator Market SCM (2025F) – EV / ESS /
CE
4.4 Separator Market Forecast (Mid-to-Long
term)
4.4.1 Separator Demand Forecast (`23 ~`35)
4.4.2 Separator Production Capacity Forecast (`23 ~`35)
4.5 Separator Price Trends
4.5.1 Separator Price Trends by Type (`20.1Q ~`25.1Q)
4.6 Major Separator Manufacturers Trends
5. Electrolyte
Market Review & Forecast
Global Electrolyte Market Review
& Forecast
5.1 Electrolyte Demand Trends
5.1.1 Electrolyte Demand
Trends by Battery type (`23 ~ `24)
5.1.2 Electrolyte Demand
Trends by Region (`23 ~ `24)
5.1.3 Electrolyte Demand
Trends by Application (`23 ~ `24)
5.1.4 Electrolyte
Consumption Trends by Cell makers
5.1.5 Electrolyte
Consumption Forecast
5.2 Electrolyte Manufacturers Market Share
5.2.1 Electrolyte Market Share by Manufacturers
5.2.2 Electrolyte Market Share by Manufacturers (2024)
5.2.3 Electrolyte Market Share by Manufacturers (2025F)
5.3 Electrolyte Market SCM (2024)
5.3 Electrolyte Market SCM (2025F)
5.4 Electrolyte Market Forecast (Mid-to-Long
term)
5.4.1 Electrolyte Demand Forecast (`23 ~`35)
5.4.2 Electrolyte Production Capacity Forecast (`23 ~`35)
5.5 Electrolyte & Materials Price Trends
5.5.1 Electrolyte Price Trends by Type (`20.1Q ~`25.1Q)
5.5.2 Solvents Price Trends by Type (`20.1Q ~`25.1Q)
5.5.3 Lithium Salts Price Trends (`20.1Q ~`25.1Q)
5.5.4 Additives Price Trends (`20.1Q ~`25.1Q)
5.6 Major Electrolyte Manufacturers Trends