Electric Vehicle (EV) Battery Cell and Pack Materials: Global Market 2027-2037 - Advanced and Emerging Technology Market Research

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Published: June 2026
Pages: 177
Tables: 70
Figures: 69

The electric vehicle (EV) battery cell and pack materials market spans the complete physical composition of a modern traction battery, organised from the cell outward: the cathode and anode active materials that dominate both mass and value, the inactive cell materials that enable them to function, the module-level materials that connect and isolate groups of cells, and the pack-level structural and functional materials that contain, cool and protect the assembly. It is one of the foundational materials markets of the energy transition, sitting directly beneath the rapidly expanding global EV industry and drawing on critical minerals, specialty chemicals, advanced metals and engineered functional materials in roughly equal measure.

The market is shaped less by any single technology than by the interaction of three forces. The first is cell chemistry: the migration away from nickel- and cobalt-rich cathodes toward iron-phosphate formulations, and the gradual infiltration of silicon into the graphite anode, continually reshape which materials matter most. The second is pack architecture: the shift from conventional modular packs toward cell-to-pack, cell-to-body and cell-to-chassis designs steadily reduces the quantity of inactive structural material required for each unit of energy stored. The third is supply geography: the concentration of refining and battery-grade processing — far more than mining — determines where genuine supply risk lies.

Together these forces produce a market whose composition shifts faster than its overall size. Demand grows across nearly every material, but the balance tilts toward abundant and engineered materials and away from those being designed out. For suppliers, processors, cell and pack manufacturers, automakers and investors, understanding this evolving bill of materials — material by material, chemistry by chemistry, and architecture by architecture — has become essential to navigating the decade ahead.

Electric Vehicle (EV) Battery Cell and Pack Materials: Global Market 2027–2037 quantifies the global market for every material that goes into an EV battery cell and pack across the 2027–2037 period. It tracks the complete bill of materials of a modern traction battery and forecasts, for each material, both physical demand (kilotonnes per year) and market value (US dollars per year) on an annual basis.

The methodology is rigorously bottom-up: EV unit sales by vehicle segment are converted into gigawatt-hours of battery demand, multiplied by chemistry- and design-specific material-intensity factors expressed in kilograms per kilowatt-hour, and then priced — so that every forecast traces transparently from vehicle volumes through to material tonnes and value. Coverage is exhaustive across the value chain. On the cell side it spans cathode active materials (nickel, cobalt, manganese, lithium, iron and phosphate across NMC, NCA, NMCA, LFP, LMFP and LMO chemistries), anode active materials (natural and synthetic graphite, silicon and silicon oxide, and lithium metal on a watching basis), and the inactive cell materials — electrolytes, separators, binders, conductive additives, current collectors and cell casing. On the pack side it covers module materials (busbars, terminals and insulation), pack structural materials (aluminium, steel and composites) and pack functional materials (thermal interface materials, cooling components, fire protection, compression pads and seals). Forecasts are segmented by vehicle type — passenger car, van, truck, bus, two- and three-wheeler and microcar — and across China, Europe, North America and the rest of the world.

Beyond the numbers, the report explains the forces driving the market: the chemistry transition toward iron-phosphate and silicon, the structural-integration revolution in pack design (CTP, CTB and CTC), the sustainability and recycling agenda, and the supply-chain concentration and policy landscape that govern material availability. It includes detailed cell and pack design analysis, real-world pack teardown benchmarks, a full critical-materials supply-risk assessment, consolidated demand and value forecasts, and profiles of the leading materials suppliers across every tier.

Designed for material producers and processors, cell and pack manufacturers, automakers, investors and policymakers, the report provides the granular, internally consistent material-demand and value data needed to identify the fastest-growing material streams, anticipate supply bottlenecks, and position for a decade of structural change in the battery materials value chain.

Report contents include:

The EV market and battery demand outlook
Li-ion battery chemistry and technology
Cell cost and energy density
Cell materials: cathode and critical raw materials (lithium, cobalt, nickel, manganese, iron, phosphate)
Cell materials: anode (graphite and silicon)
Cell materials: electrolyte, separators, binders, additives, current collectors and cell case
Cell and pack design: CTP, CTB, CTC and large formats
Pack and module materials (module interconnects and insulation, pack structural and functional materials)
Battery pack examples and teardowns
Sustainability, recyclability and circularity
Supply chain and geographic concentration
Market forecasts and assumptions, 2027–2037
Company profiles. The report profiles leading suppliers across every materials tier, including ABIS Aerogel Co., Ltd., Aerogel Core Ltd, Ampcera, Apheros, Asahi Kasei, Axiotherm GmbH, BAIC BJEV (Beijing Electric Vehicle Co., Ltd.), BENTELER Automotive, CFP Composites, Chery International, Denka, DuPont, Elven Technologies, EVE Energy Co., Ltd., First Graphene Ltd., Freudenberg Sealing Technologies, Hitachi Zosen Corporation, Horizontal Na Energy and more.....

1 EXECUTIVE SUMMARY 17

1.1 Report scope and key conclusions 17
1.2 Market size and headline forecasts, 2027–2037 18
1.3 Demand drivers, opportunities and challenges 21
1.4 Regional policy landscape and its market impact 21
1.5 Global EV sales and battery demand trajectory 22
1.6 Battery chemistry outlook 23
1.7 Material intensity evolution 25
1.8 Cell versus pack split 26
1.9 Materials covered in this report 27

2 INTRODUCTION AND METHODOLOGY 28

2.1 Report objectives and scope 28
2.2 Electric vehicle definitions and drivetrain specifications 28
2.3 The battery value chain: cell, module, pack and system 29
2.4 Materials taxonomy used in this report 29
2.5 Forecasting methodology and the bottom-up demand model 30
2.6 Key assumptions and data sources 31
2.7 Units, conventions and currency 33

3 THE EV MARKET AND BATTERY DEMAND OUTLOOK 34

3.1 The role of EVs in transport decarbonisation 34
3.2 Global EV sales, 2015–2026 34
3.3 Regional snapshots and policy 35
3.4 EV battery demand forecast by vehicle segment 36
3.5 Battery manufacturing capacity and regional shares 37
3.6 Average battery capacity by vehicle segment 38

4 LI-ION BATTERY CHEMISTRY AND TECHNOLOGY 39

4.1 What is a Li-ion battery? Components and operating principle 39
4.2 Cathode chemistries 39
4.3 Anode chemistries 40
4.4 Global battery chemistry mix and its historical evolution 41
4.5 Emerging chemistries and material implications 42
4.6 Cell-manufacturer landscape by region 43

5 CELL COST AND ENERGY DENSITY 45

5.1 Cell cost structure and the role of materials 45
5.2 Historical pack and cell price and the CAM linkage 46
5.3 Sensitivity to cathode active material prices 47
5.4 Energy density by chemistry and the technology timeline 48
5.5 BEV battery price forecast, 2027–2037 50

6 CELL MATERIALS: CATHODE AND CRITICAL RAW MATERIALS 52

6.1 Cathode active materials — overview and development 52
6.2 Cathode material intensities 52
6.3 Cathode market share for Li-ion in BEVs, 2020–2037 54
6.4 Cathode material demand forecast, 2027–2037 54
6.5 Price assumptions and cathode value forecast 56
6.6 Lithium 57
- 6.6.1 Resources, reserves and production geography 57
- 6.6.2 Price behaviour 58
- 6.6.3 Supply–demand balance and EV demand 59
6.7 Cobalt 61
- 6.7.1 Production geography 61
- 6.7.2 Falling intensity and EV demand 61
6.8 Nickel 63
- 6.8.1 Production geography and Class I constraint 63
- 6.8.2 EV demand 64
6.9 Manganese, iron and phosphate 65

7 CELL MATERIALS: ANODE 68

7.1 Anode materials — overview 68
7.2 Anode material demand and price forecast 69
7.3 Graphite (natural and synthetic) 70
7.4 Silicon and silicon-oxide anodes 72
7.5 Lithium-metal and next-generation anodes 74

8 CELL MATERIALS: Electrolyte, Separators, Binders, Additives, Current Collectors and Cell Case 75

8.1 Electrolytes — lithium salts, solvents and additives 75
8.2 Separators — base films (PE, PP) and ceramic coatings 76
8.3 Binders — PVDF, SBR/CMC, PAA 77
8.4 Conductive additives — carbon black and carbon nanotubes (CNT) 77
8.5 Current collectors — copper foil and aluminium foil 77
8.6 Cell-case materials — cylindrical, prismatic and pouch 78
8.7 Total cell material demand and value forecast 78

9 CELL AND CELL PACK DESIGN: CTP, CTB, CTC and Large Formats 81

9.1 Cell formats and trade-offs 81
9.2 From cell to module to pack — conventional architecture 81
9.3 Cell-to-pack (CTP): drivers and challenges 81
9.4 Cell-to-body and cell-to-chassis (CTB/CTC): drivers and challenges 82
9.5 OEM and cell-maker structural-design announcements 82
9.6 Impact on material intensity and inactive-material reduction 83
9.7 Pack energy-density trends and forecast 84
9.8 Servicing, repairability and recyclability implications 85
9.9 Battery pack component breakdown 85

10 PACK AND MODULE MATERIALS 87

10.1 Module materials: busbars, terminals and insulation 87
10.2 Pack housing materials: structure and cover 87
10.3 Thermal interface materials (TIMs) 89
10.4 Thermal management: cold plates and coolant hoses 90
10.5 Battery enclosures — aluminium, steel, GFRP, CFRP, polymers 92
10.6 Pack sealants (FIPG, CIPG, dispensed-foam gaskets) 93
10.7 Fire-protection materials 94
10.8 Compression pads and foams 96
10.9 Electrical interconnects insulation 96
- 10.9.1 Aluminium vs copper for interconnects 96
- 10.9.2 Busbar insulation materials 97
- 10.9.3 Representative interconnect approaches by vehicle 97
- 10.9.4 Material quantity in battery interconnects: kg/kWh summary 97
- 10.9.5 Electrical interconnects: aluminium, copper and insulation forecast, 2027–2037 98
10.10 Busbars, terminals and electrical interconnects 98
10.11 Total pack material demand and value forecast 99

11 BATTERY PACK EXAMPLES 102

11.1 Passenger-car pack examples 102
11.2 Heavy-duty, commercial and other vehicle examples 103
11.3 Cross-segment design and material comparison 104

12 SUSTAINABILITY, RECYCLABILITY AND CIRCULARITY 105

12.1 Material criticality and supply risk 105
12.2 Recyclability of cell and pack materials; design-for-recycling 106
12.3 Secondary supply and recycled-material availability 106
12.4 Life-cycle and carbon-intensity considerations 107
12.5 Regulatory drivers — EU Battery Regulation and recycled-content rules 107

13 SUPPLY CHAIN AND GEOGRAPHIC CONCENTRATION 108

13.1 Material supply concentration by country 108
13.2 Battery-grade processed-material bottlenecks 109
13.3 Supply-chain localisation and policy 110
13.4 Supply-risk assessment 110

14 MARKET FORECASTS 2027–2037 111

14.1 Forecast coverage and methodology recap 112
14.2 Key assumptions: battery size, chemistry mix, energy density 113
14.3 Cathode and anode material demand and value 114
14.4 Total cell material demand and value 115
14.5 Total pack material demand and value 116
14.6 Total market by material, vehicle type and value 117

15 COMPANY PROFILES 120 (54 company profiles)

16 REFERENCES 174

List of Tables

Table 1. Report scope and coverage 17
Table 2. Headline conclusions 17
Table 3. Headline market summary, selected years 19
Table 4. Material demand by group, selected years (Mt/year) 20
Table 5. Market value by category, selected years (US$ billion) 20
Table 6. Drivers, restraints and opportunities 21
Table 7. Regional policy summary 21
Table 8. Global EV sales by region, selected years (million units/year) 23
Table 9. Cathode chemistry market share for BEVs, selected years (%) 24
Table 10. Anode chemistry mix, selected years (%) 25
Table 11. Cathode metal content by chemistry (kg/kWh) 26
Table 12. Cell vs pack split of demand and value (%) 27
Table 13. Materials in scope, by value-chain segment 27
Table 14. Report objectives and research questions 28
Table 15. Electric vehicle types and drivetrain definitions 28
Table 16. Full battery materials taxonomy 30
Table 17. Average battery size assumptions by vehicle segment (kWh/vehicle) 31
Table 18. Material composition assumptions by chemistry (kg/kWh) 32
Table 19. Principal data sources and their role 32
Table 20. Units, conventions and currency 33
Table 21. Global EV sales by drivetrain, selected years (million units/year) 35
Table 22. Regional EV sales, growth and policy posture 35
Table 23. EV battery demand by vehicle segment, selected years (GWh/year) 36
Table 24. Regional Li-ion manufacturing capacity vs demand (GWh/year) 38
Table 25. Average battery size and share of battery demand by segment 38
Table 26. Cathode chemistry technical benchmark 40
Table 27. Anode material technical benchmark 40
Table 28. Dominant chemistry by vehicle segment and direction of travel 41
Table 29. Emerging chemistries and their material implications 42
Table 30. Cell manufacturer share by producer region (% of global cell output) 43
Table 31. Cell cost structure by component (% of cell cost; US$/kWh) 45
Table 32. Historical Li-ion price, selected years (real 2023 US$/kWh) 47
Table 33. Cell cost under cathode price scenarios (US$/kWh) 48
Table 34. Cell energy density and central trade-off by chemistry 49
Table 35. BEV pack price forecast by chemistry (US$/kWh) 50
Table 36. Principal cost-reduction levers 51
Table 37. Assumed material composition per cell chemistry (kg/kWh) 53
Table 38. Cathode material demand forecast, selected years (kt/year) 55
Table 39. Cathode raw-material price assumptions (US$/kg) 56
Table 40. Lithium supply chain: extraction vs conversion concentration (illustrative, 2025) 58
Table 41. Lithium demand and balance forecast, selected years (kt LCE/year) 60
Table 42. Cobalt demand drivers and forecast, selected years 63
Table 43. Nickel demand and Class I exposure, selected years (kt) 65
Table 44. Battery-grade derivative supply risk: high-purity manganese sulphate and purified phosphoric acid 66
Table 45. Anode materials at a glance 68
Table 46. Anode material price assumptions (US$/kg, battery-grade) 70
Table 47. Graphite demand forecast and split, selected years (kt) 72
Table 48. Silicon anode benchmark: capacity, first-cycle efficiency, expansion, typical loading 74
Table 49. Electrolyte composition: salts, carbonate solvents and additives 75
Table 50. Separator material comparison (base film and ceramic-coated) 76
Table 51. Current-collector material intensity (kg/kWh) 78
Table 52. Total cell material market summary, selected years 80
Table 53. Summary of CTP / CTB / CTC designs by manufacturer 82
Table 54. Module material demand forecast (kt/year) 87
Table 55. Module material value forecast (US$B) 87
Table 56. Pack housing material demand forecast (kt/year) 88
Table 57. Pack housing material value forecast (US$B) 88
Table 58. Enclosure material comparison (metal vs composite vs polymer) 92
Table 59. Sealant cure mechanisms and properties 93
Table 60. Interconnect approach and material intensity by representative pack (kg/kWh) 97
Table 61. Fleet-average interconnect material intensity (kg/kWh) 97
Table 62. Interconnect material demand and value forecast 98
Table 63. Pack material price assumptions (US$/kg, indicative) 100
Table 64. Automotive battery pack examples 102
Table 65. Heavy-duty, commercial and other battery systems 103
Table 66. Critical material supply-demand balance to 2037 105
Table 67. Material supply-risk matrix 110
Table 68. Battery chemistry-mix assumptions by vehicle segment, 2037 113
Table 69. Material composition assumptions (kg/kWh, fleet-average) 114
Table 70. Forecast summary, 2027–2037 (demand and value, all materials) 118

List of Figures

Figure 1. Total EV cell and pack material demand by material group, 2027–2037 (Mt/year) 18
Figure 2. Total EV cell and pack material market value by category, 2027–2037 (US$ billion) 19
Figure 3. Global EV sales by region, 2015–2026 with forecast to 2037 (million units/year) 22
Figure 4. Battery system architecture: cell → module → pack → system 29
Figure 5. Demand-model logic: GWh × material intensity → demand and value 31
Figure 6. Global EV sales with BEV / PHEV split, 2015–2026 with forecast to 2037 (million units/year) 34
Figure 7. EV battery demand by vehicle segment, 2027–2037 (GWh/year) 36
Figure 8. Regional Li-ion manufacturing capacity vs EV battery demand, 2026 / 2030 / 2037 (GWh/year) 37
Figure 9. Anatomy of a Li-ion cell 39
Figure 10. Historical cathode chemistry mix for passenger BEVs, 2015–2026 (%) 41
Figure 11. Cell manufacturer share by producer region, 2026 vs 2037 (% of global cell output) 43
Figure 12. Li-ion cell cost breakdown by component (NMC811 vs LFP) 45
Figure 13. Volume-weighted average Li-ion pack and cell price, 2013–2026 (real 2023 US$/kWh) 46
Figure 14. Cell cost sensitivity to cathode active material price (NMC811 and LFP) 47
Figure 15. Cell energy density by cathode chemistry (Wh/kg) 49
Figure 16. BEV pack price forecast, 2027–2037 (US$/kWh) 50
Figure 17. Cathode material intensity by chemistry (kg/kWh) 53
Figure 18. Cathode market share for Li-ion in BEVs 54
Figure 19. Cathode material demand forecast — Ni, Co, Li, Mn, Fe, P (kt) 55
Figure 20. Critical cathode material value forecast (US$B) 56
Figure 21. Lithium resources and production by country 58
Figure 22. Lithium price volatility, 2018–2026 59
Figure 23. Lithium supply vs demand, 2027–2037 (kt LCE) 60
Figure 24. Lithium demand from EVs forecast 60
Figure 25. Cobalt production by country 61
Figure 26. Changing cobalt intensity in Li-ion cathodes (image 6 above) 62
Figure 27. Cobalt demand from EVs forecast 62
Figure 28. Nickel mining by country and Class I nickel share 64
Figure 29. Nickel demand from EVs forecast 64
Figure 30. Manganese, iron and phosphate demand from EVs forecast 66
Figure 31. Anode material demand forecast — graphite and silicon (kt) 69
Figure 32. Anode material value forecast (US$B) 70
Figure 33. Natural vs synthetic graphite production by region 71
Figure 34. Graphite demand from EVs forecast 71
Figure 35. Cell energy density vs silicon content 73
Figure 36. Silicon anode demand forecast 73
Figure 37. Electrolyte demand by region 76
Figure 38. Material requirements by cell format 78
Figure 39. Battery cell material demand forecast (kt) 79
Figure 40. Battery cell material value forecast (US$B) 80
Figure 41. Cell format market share 81
Figure 42. Evolution from modular pack to CTP to CTB/CTC 82
Figure 43. Gravimetric energy density vs cell-to-pack ratio 83
Figure 44. Reduction of pack materials with CTP / CTC (kg/kWh) 84
Figure 45. Cell vs pack energy-density forecast, 2027–2037 (Wh/kg) 85
Figure 46. Component breakdown of a battery pack (by weight) (image 6 above) 86
Figure 47. TIM application by pack/module and cell format 89
Figure 48. TIM demand forecast (ktpa) 90
Figure 49. Battery thermal-management strategy market share (air, liquid, refrigerant) 91
Figure 50. Thermal-management component mass forecast (kt) 91
Figure 51. Enclosure material demand forecast (kt) 93
Figure 52. Pack sealant demand forecast (kt) (image 6 above) 94
Figure 53. Fire-protection material categories and 2026 market share 95
Figure 54. Fire-protection material demand forecast (kt) (image 8 above) 95
Figure 55. Compression pad/foam demand forecast (kt) (image 9 above) 96
Figure 56. Interconnect material intensity — aluminium, copper, insulation (kg/kWh) 99
Figure 57. Battery pack material demand forecast (kt) 100
Figure 58. Battery pack material value forecast (US$B) 101
Figure 59. Material composition compared across example packs (kg/kWh) 104
Figure 60. Projected recycled-material availability, 2027–2037 107
Figure 61. Geographic concentration of key materials (mining and processing) 109
Figure 62. Total cell and pack material market value (US$B) 112
Figure 63. Forecast coverage map (materials × metrics) 113
Figure 64. Cathode material demand and value forecast 114
Figure 65. Anode material demand and value forecast 115
Figure 66. Battery cell material demand and value forecast 116
Figure 67. Battery pack material demand and value forecast 117
Figure 68. Total cell and pack material demand by material (kt) 117
Figure 69. Total cell and pack material demand by vehicle type (kt) 118

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Mid-year Update

Electric Vehicle (EV) Battery Cell and Pack Materials: Global Market 2027-2037

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