Precursor Material Market Report: Trends, Forecast and Competitive Analysis to 2030

Precursor Material Trends and Forecast

The future of the global precursor material market looks promising with opportunities in the power battery and consumer battery markets. The global precursor material market is expected to reach an estimated $19.2 billion by 2030 with a CAGR of 22.1% from 2024 to 2030. The major drivers for this market are growing need for lightweight materials in sectors like aerospace and automotive, increasing attention being paid to renewable energy sources like solar and wind power, as well as, increasing need for nanomaterials and the progress made in nanotechnology.

A more than 150-page report is developed to help in your business decisions.

Precursor Material by Segment

The study includes a forecast for the global precursor material by type, application, and region.

Precursor Material Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• NCM Type
• NCA Type

Precursor Material Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Power Batteries
• Consumer Batteries
• Others

Precursor Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Precursor Material Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies precursor material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the precursor material companies profiled in this report include-

• GEM
• Umicore
• CNGR
• Brunp Recycling
• Tanaka Chemical
• Kelong New Energy
• Zhejiang Huayou Cobalt
• Fangyuan
• Greatpower Technology
• Ronbay Technology

Precursor Material Market Insights

Lucintel forecasts that NCM type will remain the larger segment over the forecast period because it is frequently utilized in the manufacturing of lithium-ion batteries for energy storage devices and electric cars.

North America will remain the largest region over the forecast period due to the largest manufacturing enterprises in nations such as the United States and the nations' semiconductor and electronics sectors assist firms in increasing efficiency and productivity.

Features of the Global Precursor Material Market

Market Size Estimates: Precursor material market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Precursor material market size by type, application, and region in terms of value ($B).

Regional Analysis: Precursor material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the precursor material market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the precursor material market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the precursor material market size?

Answer: The global precursor material market is expected to reach an estimated $19.2 billion by 2030.

Q2. What is the growth forecast for precursor material market?

Answer: The global precursor material market is expected to grow with a CAGR of 22.1% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the precursor material market?

Answer: The major drivers for this market are growing need for lightweight materials in sectors like aerospace and automotive, increasing attention being paid to renewable energy sources like solar and wind power, as well as, increasing need for nanomaterials and the progress made in nanotechnology.

Q4. What are the major segments for precursor material market?

Answer: The future of the global precursor material market looks promising with opportunities in the power battery and consumer battery markets.

Q5. Who are the key precursor material market companies?

Answer: Some of the key precursor material companies are as follows.

• GEM
• Umicore
• CNGR
• Brunp Recycling
• Tanaka Chemical
• Kelong New Energy
• Zhejiang Huayou Cobalt
• Fangyuan
• Greatpower Technology
• Ronbay Technology

Q6. Which precursor material market segment will be the largest in future?

Answer: Lucintel forecasts that NCM type will remain the larger segment over the forecast period because it is frequently utilized in the manufacturing of lithium-ion batteries for energy storage devices and electric cars.

Q7. In precursor material market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the largest manufacturing enterprises in nations such as the United States and the nations' semiconductor and electronics sectors assist firms in increasing efficiency and productivity.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the precursor material market by type (NCM type and NCA type), application (power batteries, consumer batteries, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?