South Korea Battery Material Market Size, Share, and COVID-19 Impact Analysis, By Type (Cathode, Anode, Electrolyte, Separator, and Others), By Battery Type (Lithium-Ion, Lead-Acid, Nickel Metal Hydride (NiMH), Nickel Cadmium (Ni-Cd), and Others) and By Application (Portable Devices, Automotive, Electronics Items, Power Storages, and Others), and South Korea Battery Material Market Insights, Industry Trend, Forecasts to 2035.

South Korea Battery Material Market Insights Forecasts to 2035

• The South Korea Battery Material Market Size Was Estimated at USD 1.26 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 9.56% from 2025 to 2035
• The South Korea Battery Material Market Size is Expected to Reach USD 3.44 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Battery Material Market Size is anticipated to reach USD 3.44 Million by 2035, growing at a CAGR of 9.56 % from 2025 to 2035. The market for battery materials in South Korea is expanding significantly due to the rise in the use of electric vehicles (EVs) and developments in renewable energy technology. Through several programs targeted at growing the manufacture and use of electric vehicles, the government's commitment to lowering carbon emissions and encouraging electric mobility has emerged as a significant market driver.

Market Overview

The manufacturing, distributing, and selling of materials needed in battery construction and operation are all included in the battery materials market. A battery's ability to store and release energy depends on these elements, which include anodes, cathodes, electrolytes, and separators. Batteries are essential for the storage of renewable energy sources like solar and wind. The market for battery materials is expanding as such of the growing need for energy storage solutions. Smaller, more effective batteries are required because of the growing use of portable electronics like laptops and cell phones. This market category is expanding as a consequence of rising consumer spending and digitalization. The market's future is anticipated to be significantly shaped by advancements in materials science and battery technology, such as the search for solid-state batteries and higher energy densities. By concentrating on supply chain diversification, investing in recycling technologies, and creating novel battery materials with enhanced properties, businesses can take advantage of these trends. The need for sophisticated battery storage systems is derived by government programs and laws that support renewable energy sources like wind and solar. This entails raising financing for renewable energy projects and extending PLI schemes for solar electricity.

Report Coverage

This research report categorizes the market for South Korea battery material market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea battery material market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each South Korea battery material market sub-segment.

Driving Factors

The rising demand for energy storage and renewable energy sources. To store and make available energy from renewable sources like solar and wind, batteries are essential. This covers both residential and commercial battery storage devices as well as grid-scale energy storage. Battery performance, efficiency, and cost-effectiveness are all being improved by ongoing advancements in battery materials science. This involves the creation of novel battery chemistries that promise greater energy density and quicker charging periods, including solid-state batteries. Additionally, technological developments are producing battery materials that are more ecologically friendly and sustainable.

Restraining Factors

The supply chain that underpins the market for battery materials is susceptible to interruptions from a number of sources. Natural disasters, trade conflicts, and geopolitical tensions can all affect the cost and availability of essential raw materials like lithium, nickel, and cobalt. Deforestation, pollution, and resource depletion are some of the environmental issues that can arise from the extraction and processing of raw materials for batteries. Regulations and limits resulting from these worries may affect the price and availability of certain materials.

Market Segmentation

The South Korea battery material market share is classified into type, battery type, and application.

• The cathode segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea battery material market is segmented by type into cathode, anode, electrolyte, separator, and others. Among these, the cathode segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Many manufacturers focus on the cathode section because it has a direct impact on the overall performance of batteries and is essential for energy density and battery life.

The lithium-ion segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea battery material market is segmented by battery type into lithium-ion, lead-acid, nickel metal hydride (NiMH), nickel-cadmium (Ni-Cd), and others. Among these, the lithium-ion segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is because of the growing demand for consumer gadgets, energy storage devices, and electric cars.  The favoured option for performance and efficiency is lithium-ion because to strong government support, sophisticated manufacturing facilities, and significant local players like LG Energy Solution and Samsung SDI.

The portable devices segment held dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea battery material market is segmented by application into portable devices, automotive, electronics items, power storage, and others. Among these, the portable devices segment held dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period. For optimum performance and efficiency, portable devices like laptops and smartphones need premium battery materials.

 Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea battery material market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• LG Energy Solution
• Samsung SDI
• SK Innovation
• POSCO Future M
• EcoPro BM
• L&F Co., Ltd.
• SK ecoplant
• Hyundai Motor Group
• Kia Corporation
• KCC Corporation
• Hyosung Chemical
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea battery material market based on the below-mentioned segments:

South Korea Battery Material Market, By Type

• Cathode
• Anode
• Electrolyte
• Separator
• Others

South Korea Battery Material Market, By Battery Type

• Lithium-Ion
• Lead-Acid
• Nickel Metal Hydride (NiMH)
• Nickel Cadmium (Ni-Cd)
• Others

South Korea Battery Material Market, By Application

• Portable Devices
•  Automotive
•  Electronics Items
• Power Storages
•  Others