IMARC Group has recently released a new research study titled “South Korea Battery Materials Market Size, Share, Trends and Forecast by Type, Battery Type, Application, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Battery Materials Market Overview
The South Korea battery materials market size reached USD 1,073.5 Million in 2024 and is projected to reach USD 2,098.0 Million by 2033. The market is expected to grow at a CAGR of 6.93% during the forecast period 2025-2033. Growth is driven by strong government policies fostering RD, local manufacturing, and global supply chain partnerships, combined with rising demand for electric vehicles and energy storage systems. South Korean firms focus on vertical integration and advanced battery technologies to maintain supply stability and market leadership.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
South Korea Battery Materials Market Key Takeaways
- Current Market Size: USD 1,073.5 Million in 2024
- CAGR: 6.93%
- Forecast Period: 2025-2033
- South Korea’s government supports the battery materials industry with financial incentives, regulatory updates, and public-private partnerships aimed at local manufacturing and import dependence reduction.
- Rising global and domestic demand for electric vehicles and renewable energy integration drives the need for high-performance battery materials.
- South Korean firms emphasize supply chain integration, including overseas mining and local refining, to create a resilient and competitive industry.
- Technological advancements such as next-generation chemistries and eco-friendly production methods are central to maintaining global market leadership.
- The market covers multiple segments including type, battery type, application, and region with detailed analyses.
Sample Request Link: https://www.imarcgroup.com/south-korea-battery-materials-market/requestsample
Market Growth Factors
Government Policy Strategic Investment
South Korea has identified the battery sector as a key pillar for its future economy and is pursuing long-term, deep development plans. The government provides financial incentives, regulatory renewal, and strong public-private collaborations to promote indigenous battery materials manufacturing and reduce import reliance. It also fosters international partnerships to secure key minerals and investments in next-generation battery technologies. Harmonizing regulations with global environmental and trade standards helps keep South Korean companies competitive globally, supporting robust industrial policy embedding battery innovation for economic and technological growth.
Rising Demand for Electric Vehicles Energy Storage
The shift toward clean energy and sustainable transportation is a major growth driver. Rising domestic and global demand for electric vehicles pushes automakers and battery manufacturers to increase production capacity. Additionally, the integration of renewable energy in power grids necessitates efficient energy storage solutions. These dual trends of electrified mobility and smart energy management fuel demand for high-performance battery materials. South Korea’s strong manufacturing foundation and innovation-centric approach enhance its role as a key supplier for these expanding applications, which include residential energy storage, smart homes, and industrial backup systems.
Supply Chain Integration Technological Leadership
South Korea’s battery materials market is marked by efforts to control the entire value chain from raw material sourcing to production of finished components. Companies invest in global partnerships, overseas mining, and local refining to build resilient supply networks. Concurrently, there is a strategic focus on advanced technology enhancing battery performance, safety, and cost-effectiveness, including next-generation chemistries and environmentally friendly manufacturing methods. These integrated supply chain and RD efforts reduce risks from market volatility and geopolitical tensions while fostering ongoing innovation to sustain long-term global competitiveness.
Market Segmentation
- Type Insights:
- Cathode
- Anode
- Electrolyte
- Separator
- Others
- Battery Type Insights:
- Lithium Ion
- Lead Acid
- Others
- Application Insights:
- Automobile Industry
- Household Appliances
- Electronics Industry
- Others
- Region Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
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Regional Insights
The Seoul Capital Area is identified as a dominant market region in South Korea’s battery materials sector, leveraging strong industrial infrastructure and innovation centers. The market growth across the region reflects the overall national CAGR of 6.93% during 2025-2033, driven by government support and rising demand for electric vehicles and energy storage solutions. The regional focus enables targeted investments and advances in battery technology applications.
Recent Developments News
In June 2025, POSCO Future M launched a precursor plant in Gwangyang, South Korea, creating a China-free cathode material supply chain, producing high-nickel precursors for Ultium Cells, a GM–LG Energy joint venture. This strengthens global competitiveness and aligns with U.S. IRA regulations. In May 2025, Amprius Technologies partnered with a leading South Korean battery maker to produce SiCore® silicon anode cells for aerospace, defense, and electric mobility, enhancing supply chain resilience. In April 2025, South Korea inaugurated the Battery Solution Testbed Zone, its largest rechargeable battery research center, in Cheongju, supporting research across battery production and next-generation technologies like solid-state batteries.
Key Players
- POSCO Future M
- Ultium Cells (GM–LG Energy joint venture)
- Amprius Technologies
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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