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: 170
Tables: 71
Figures: 76

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 16

1.1 Report scope and key conclusions 16
1.2 Market size and headline forecasts, 2027–2037 17
1.3 Demand drivers, opportunities and challenges 19
1.4 Regional policy landscape and its market impact 20
1.5 Global EV sales and battery demand trajectory 21
1.6 Battery chemistry outlook 22
1.7 Material intensity evolution 23
1.8 Cell versus pack split 25
1.9 Materials covered in this report 25

2 INTRODUCTION AND METHODOLOGY 27

2.1 Report objectives and scope 27
2.2 Electric vehicle definitions and drivetrain specifications 27
2.3 The battery value chain: cell, module, pack and system 28
2.4 Materials taxonomy used in this report 28
2.5 Forecasting methodology and the bottom-up demand model 29
2.6 Key assumptions and data sources 29
2.7 Units, conventions and currency 31

3 THE EV MARKET AND BATTERY DEMAND OUTLOOK 31

3.1 The role of EVs in transport decarbonisation 32
3.2 Global EV sales, 2015–2026 32
3.3 Regional snapshots and policy 33
3.4 EV battery demand forecast by vehicle segment 33
3.5 Battery manufacturing capacity and regional shares 34
3.6 Average battery capacity by vehicle segment 36

4 LI-ION BATTERY CHEMISTRY AND TECHNOLOGY 36

4.1 What is a Li-ion battery? Components and operating principle 36
4.2 Cathode chemistries 37
4.3 Anode chemistries 38
4.4 Global battery chemistry mix and its historical evolution 38
4.5 Emerging chemistries and material implications 40
4.6 Cell-manufacturer landscape by region 40

5 CELL COST AND ENERGY DENSITY 42

5.1 Cell cost structure and the role of materials 42
5.2 Historical pack and cell price and the CAM linkage 43
5.3 Sensitivity to cathode active material prices 44
5.4 Energy density by chemistry and the technology timeline 45
5.5 BEV battery price forecast, 2027–2037 46

6 CELL MATERIALS: CATHODE AND CRITICAL RAW MATERIALS 48

6.1 Cathode active materials — overview and development 48
6.2 Cathode material intensities 48
6.3 Cathode market share for Li-ion in BEVs, 2020–2037 49
6.4 Cathode material demand forecast, 2027–2037 50
6.5 Price assumptions and cathode value forecast 52
6.6 Lithium 53
- 6.6.1 Resources, reserves and production geography 53
- 6.6.2 Price behaviour 54
- 6.6.3 Supply–demand balance and EV demand 55
6.7 Cobalt 56
- 6.7.1 Production geography 57
- 6.7.2 Falling intensity and EV demand 57
6.8 Nickel 59
- 6.8.1 Production geography and Class I constraint 59
- 6.8.2 EV demand 60
6.9 Manganese, iron and phosphate 61

7 CELL MATERIALS: Anode 63

7.1 Anode materials — overview 63
7.2 Anode material demand and price forecast 63
7.3 Graphite (natural and synthetic) 65
7.4 Silicon and silicon-oxide anodes 67
7.5 Lithium-metal and next-generation anodes 69

8 CELL MATERIALS: Electrolyte, Separators, Binders, Additives, Current Collectors and Cell Case 70

8.1 Electrolytes — lithium salts, solvents and additives 70
8.2 Separators — base films (PE, PP) and ceramic coatings 71
8.3 Binders — PVDF, SBR/CMC, PAA 72
8.4 Conductive additives — carbon black and carbon nanotubes (CNT) 72
8.5 Current collectors — copper foil and aluminium foil 72
8.6 Cell-case materials — cylindrical, prismatic and pouch 73
8.7 Total cell material demand and value forecast 74

9 CELL AND CELL PACK DESIGN: CTP, CTB, CTC and Large Formats 76

9.1 Cell formats and trade-offs 76
9.2 From cell to module to pack — conventional architecture 76
9.3 Cell-to-pack (CTP): drivers and challenges 77
9.4 Cell-to-body and cell-to-chassis (CTB/CTC): drivers and challenges 77
9.5 OEM and cell-maker structural-design announcements 78
9.6 Impact on material intensity and inactive-material reduction 78
9.7 Pack energy-density trends and forecast 80
9.8 Servicing, repairability and recyclability implications 80
9.9 Battery pack component breakdown 81

10 PACK AND MODULE MATERIALS 82

10.1 Module materials: busbars, terminals and insulation 82
10.2 Pack housing materials: structure and cover 83
10.3 Thermal interface materials (TIMs) 83
10.4 Thermal management: cold plates and coolant hoses 85
10.5 Battery enclosures — aluminium, steel, GFRP, CFRP, polymers 86
10.6 Pack sealants (FIPG, CIPG, dispensed-foam gaskets) 87
10.7 Fire-protection materials 88
10.8 Compression pads and foams 90
10.9 Electrical interconnects insulation 90
10.9.1 Aluminium vs copper for interconnects 91
10.9.2 Busbar insulation materials 91
10.9.3 Representative interconnect approaches by vehicle 91
10.9.4 Material quantity in battery interconnects: kg/kWh summary 91
10.9.5 Electrical interconnects: aluminium, copper and insulation forecast, 2027–2037 92
10.10 Busbars, terminals and electrical interconnects 92
10.11 Total pack material demand and value forecast 93

11 BATTERY PACK EXAMPLES 95

11.1 Passenger-car pack examples 95
11.2 Heavy-duty, commercial and other vehicle examples 98
11.3 Cross-segment design and material comparison 98

12 SUSTAINABILITY, RECYCLABILITY AND CIRCULARITY 100

12.1 Material criticality and supply risk 100
12.2 Recyclability of cell and pack materials; design-for-recycling 100
12.3 Secondary supply and recycled-material availability 101
12.4 Life-cycle and carbon-intensity considerations 101
12.5 Regulatory drivers — EU Battery Regulation and recycled-content rules 102

13 SUPPLY CHAIN AND GEOGRAPHIC CONCENTRATION 103

13.1 Material supply concentration by country 103
13.2 Battery-grade processed-material bottlenecks 104
13.3 Supply-chain localisation and policy 104
13.4 Supply-risk assessment 104

14 MARKET FORECASTS 2027–2037 105

14.1 Forecast coverage and methodology recap 106
14.2 Key assumptions: battery size, chemistry mix, energy density 107
14.3 Cathode and anode material demand and value 108
14.4 Total cell material demand and value 109
14.5 Total pack material demand and value 110
14.6 Total market by material, vehicle type and value 111

15 COMPANY PROFILES 113 (54 company profiles)

16 REFERENCES 167

List of Tables

Table 1. Report scope and coverage 16
Table 2. Headline conclusions 16
Table 3. Headline market summary, selected years 18
Table 4. Material demand by group, selected years (Mt/year) 19
Table 5. Market value by category, selected years (US$ billion) 19
Table 6. Drivers, restraints and opportunities 19
Table 7. Regional policy summary 20
Table 8. Global EV sales by region, selected years (million units/year) 21
Table 9. Cathode chemistry market share for BEVs, selected years (%) 23
Table 10. Anode chemistry mix, selected years (%) 23
Table 11. Cathode metal content by chemistry (kg/kWh) 24
Table 12. Cell vs pack split of demand and value (%) 25
Table 13. Materials in scope, by value-chain segment 26
Table 14. Report objectives and research questions 27
Table 15. Electric vehicle types and drivetrain definitions 27
Table 16. Full battery materials taxonomy 28
Table 17. Average battery size assumptions by vehicle segment (kWh/vehicle) 30
Table 18. Material composition assumptions by chemistry (kg/kWh) 30
Table 19. Principal data sources and their role 31
Table 20. Units, conventions and currency 31
Table 21. Global EV sales by drivetrain, selected years (million units/year) 33
Table 22. Regional EV sales, growth and policy posture 33
Table 23. EV battery demand by vehicle segment, selected years (GWh/year) 34
Table 24. Regional Li-ion manufacturing capacity vs demand (GWh/year) 35
Table 25. Average battery size and share of battery demand by segment 36
Table 26. Cathode chemistry technical benchmark 37
Table 27. Anode material technical benchmark 38
Table 28. Dominant chemistry by vehicle segment and direction of travel 39
Table 29. Emerging chemistries and their material implications 40
Table 30. Cell manufacturer share by producer region (% of global cell output) 41
Table 31. Cell cost structure by component (% of cell cost; US$/kWh) 43
Table 32. Historical Li-ion price, selected years (US$/kWh) 44
Table 33. Cell cost under cathode price scenarios (US$/kWh) 45
Table 34. Cell energy density and central trade-off by chemistry 46
Table 35. BEV pack price forecast by chemistry (US$/kWh) 47
Table 36. Principal cost-reduction levers 47
Table 37. Assumed material composition per cell chemistry (kg/kWh) 49
Table 38. Cathode material demand forecast, selected years (kt/year) 51
Table 39. Cathode raw-material price assumptions (US$/kg) 52
Table 40. Lithium supply chain: extraction vs conversion concentration (illustrative, 2025) 54
Table 41. Lithium demand and balance forecast, selected years (kt LCE/year) 56
Table 42. Cobalt demand drivers and forecast, selected years 59
Table 43. Nickel demand and Class I exposure, selected years (kt) 61
Table 44. Battery-grade derivative supply risk: high-purity manganese sulphate and purified phosphoric acid 62
Table 45. Anode materials at a glance 63
Table 46. Anode material price assumptions (US$/kg, battery-grade) 65
Table 47. Graphite demand forecast and split, selected years (kt) 67
Table 48. Silicon anode benchmark: capacity, first-cycle efficiency, expansion, typical loading 69
Table 49. Electrolyte composition: salts, carbonate solvents and additives 70
Table 50. Separator material comparison (base film and ceramic-coated) 72
Table 51. Current-collector material intensity (kg/kWh) 73
Table 52. Total cell material market summary, selected years 75
Table 53. Summary of CTP / CTB / CTC designs by manufacturer 78
Table 54. Module material demand forecast (kt/year) 82
Table 55. Module material value forecast (US$B) 82
Table 56. Pack housing material demand forecast (kt/year) 83
Table 57. Pack housing material value forecast (US$B) 83
Table 58. TIM chemistry comparison (gap pads, gap fillers, adhesives) 84
Table 59. Enclosure material comparison (metal vs composite vs polymer) 87
Table 60. Sealant cure mechanisms and properties 88
Table 61. Interconnect approach and material intensity by representative pack (kg/kWh) 91
Table 62. Fleet-average interconnect material intensity (kg/kWh) 91
Table 63. Interconnect material demand and value forecast 92
Table 64. Pack material price assumptions (US$/kg, indicative) 93
Table 65. Automotive battery pack examples 96
Table 66. Heavy-duty, commercial and other battery systems 98
Table 67. Critical material supply-demand balance to 2037 100
Table 68. Material supply-risk matrix 105
Table 69. Battery chemistry-mix assumptions by vehicle segment, 2037 107
Table 70. Material composition assumptions (kg/kWh, fleet-average) 108
Table 71. Forecast summary, 2027–2037 (demand and value, all materials) 112

List of Figures

Figure 1. Total EV cell and pack material demand by material group, 2027–2037 (Mt/year) 17
Figure 2. Total EV cell and pack material market value by category, 2027–2037 (US$ billion) 18
Figure 3. Global EV sales by region, 2015–2026 with forecast to 2037 (million units/year) 21
Figure 4. Cathode chemistry market share for BEVs, 2020–2037 (%) 22
Figure 5. Anode chemistry mix and silicon adoption, 2020–2037 (%) 22
Figure 6. Cathode metal content by chemistry (kg/kWh) 24
Figure 7. Cell vs pack share of material demand and market value 25
Figure 8. Battery system architecture: cell → module → pack → system 28
Figure 9. Demand-model logic: GWh × material intensity → demand and value 29
Figure 10. Global EV sales with BEV / PHEV split, 2015–2026 with forecast to 2037 (million units/year) 32
Figure 11. EV battery demand by vehicle segment, 2027–2037 (GWh/year) 34
Figure 12. Regional Li-ion manufacturing capacity vs EV battery demand, 2026 / 2030 / 2037 (GWh/year) 35
Figure 13. Anatomy of a Li-ion cell 37
Figure 14. Historical cathode chemistry mix for passenger BEVs, 2015–2026 (%) 39
Figure 15. Cell manufacturer share by producer region, 2026 vs 2037 (% of global cell output) 41
Figure 16. Li-ion cell cost breakdown by component (NMC811 vs LFP) 42
Figure 17. Volume-weighted average Li-ion pack and cell price, 2013–2026 (real 2023 US$/kWh) 43
Figure 18. Cell cost sensitivity to cathode active material price (NMC811 and LFP) 45
Figure 19. Cell energy density by cathode chemistry (Wh/kg) 46
Figure 20. BEV pack price forecast, 2027–2037 (US$/kWh) 47
Figure 21. Cathode material intensity by chemistry (kg/kWh) 49
Figure 22. Cathode market share for Li-ion in BEVs 50
Figure 23. Cathode material demand forecast — Ni, Co, Li, Mn, Fe, P (kt) 51
Figure 24. Critical cathode material value forecast (US$B) 52
Figure 25. Lithium resources and production by country 53
Figure 26. Lithium price volatility, 2018–2026 54
Figure 27. Lithium supply vs demand, 2027–2037 (kt LCE) 55
Figure 28. Lithium demand from EVs forecast 56
Figure 29. Cobalt production by country 57
Figure 30. Changing cobalt intensity in Li-ion cathodes (image 6 above) 58
Figure 31. Cobalt demand from EVs forecast 58
Figure 32. Nickel mining by country and Class I nickel share 60
Figure 33. Nickel demand from EVs forecast 60
Figure 34. Manganese, iron and phosphate demand from EVs forecast 62
Figure 35. Anode material demand forecast — graphite and silicon (kt) 64
Figure 36. Anode material value forecast (US$B) 64
Figure 37. Natural vs synthetic graphite production by region. 66
Figure 38. Graphite demand from EVs forecast 66
Figure 39. Cell energy density vs silicon content 68
Figure 40. Silicon anode demand forecast 68
Figure 41. Electrolyte demand by region 71
Figure 42. Material requirements by cell format 73
Figure 43. Battery cell material demand forecast (kt) 74
Figure 44. Battery cell material value forecast (US$B) 75
Figure 45. Cell format market share 76
Figure 46. Evolution from modular pack to CTP to CTB/CTC 77
Figure 47. Gravimetric energy density vs cell-to-pack ratio 79
Figure 48. Reduction of pack materials with CTP / CTC (kg/kWh) 80
Figure 49. Cell vs pack energy-density forecast, 2027–2037 (Wh/kg) 80
Figure 50. Component breakdown of a battery pack (by weight) (image 6 above) 81
Figure 51. TIM application by pack/module and cell format 84
Figure 52. TIM demand forecast (ktpa) 85
Figure 53. Battery thermal-management strategy market share (air, liquid, refrigerant) 86
Figure 54. Thermal-management component mass forecast (kt) 86
Figure 55. Enclosure material demand forecast (kt) 87
Figure 56. Pack sealant demand forecast (kt) 88
Figure 57. Fire-protection material categories and 2026 market share 89
Figure 58. Fire-protection material demand forecast (kt) (image 8 above) 90
Figure 59. Compression pad/foam demand forecast (kt) (image 9 above) 90
Figure 60. Interconnect material intensity — aluminium, copper, insulation (kg/kWh) 92
Figure 61. Battery pack material demand forecast (kt) 93
Figure 62. Battery pack material value forecast (US$B) 94
Figure 63. Cell-to-Module (C2M) design. 95
Figure 64. Cell-to-Pack design 96
Figure 65. Structural battery pack 97
Figure 66. Material composition compared across example packs (kg/kWh) 99
Figure 67. Projected recycled-material availability, 2027–2037 101
Figure 68. Geographic concentration of key materials (mining and processing) 103
Figure 69. Total cell and pack material market value (US$B) 106
Figure 70. Forecast coverage map (materials × metrics) 107
Figure 71. Cathode material demand and value forecast 108
Figure 72. Anode material demand and value forecast 109
Figure 73. Battery cell material demand and value forecast 110
Figure 74. Battery pack material demand and value forecast 111
Figure 75. Total cell and pack material demand by material (kt) 111
Figure 76. Total cell and pack material demand by vehicle type (kt) 112

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