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    South Korea Lithium Ion Battery Market

    ID: MRFR/SEM/45296-HCR
    200 Pages
    Garvit Vyas
    October 2025

    South Korea Lithium Ion Battery Market Research Report By Type (Lithium Nickel Manganese Cobalt, Lithium Manganese Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Nickle Cobalt Aluminum Oxide, Lithium Titanate Oxide), By Capacity (0- 3000 mAh, 3000-10000 mAh, 10000-60000 mAh, 60000 mAh, above), By Voltage (Low (below 12V), Medium (below 12V-36V), High (Above 36V)) and By Industry (Automotive, Aerospace, Consumer Electronics, Marine, Industrial, Power, Telecommunication, Medical)- Forecast to 2035

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    South Korea Lithium Ion Battery Market Infographic
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    South Korea Lithium Ion Battery Market Summary

    The South Korea Lithium-Ion Battery market is projected to grow significantly from 1.91 USD Billion in 2024 to 5.7 USD Billion by 2035.

    Key Market Trends & Highlights

    South Korea Lithium-Ion Battery Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 10.45% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 5.7 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 1.91 USD Billion, reflecting the current demand for lithium-ion batteries in South Korea.
    • Growing adoption of electric vehicles due to increasing environmental regulations is a major market driver.

    Market Size & Forecast

    2024 Market Size 1.91 (USD Billion)
    2035 Market Size 5.7 (USD Billion)
    CAGR (2025-2035) 10.45%

    Major Players

    POSCO Chemical, Ecopro BM, SK On, LG Chem, Sungrow Power Supply, Frost and Sullivan, Amperex Technology, Hyundai Mobis, Samsung Electronics, Doosan Corporation, Korea Electric Power Corporation, Samsung SDI, LG Energy Solution

    South Korea Lithium Ion Battery Market Trends

    Public-private partnerships can also develop new technologies, as well as refine production methods.

    New technologies are expected, especially from public-private partnerships, as South Korea aims to strengthen its position as a leader in battery technology. This simultaneous growth will cater to domestic needs as well as global demand.

    Market Segment Insights

    Lithium-Ion Battery Market Type Insights

    The South Korea Lithium-Ion Battery Market demonstrates a diverse landscape, particularly within the Type segment which encompasses several key categories. The Lithium Nickel Manganese Cobalt (NMC) variant is known for its superior energy density and thermal stability, making it particularly suited for electric vehicles and energy storage systems. Its versatility enables it to dominate a considerable portion of the market, playing a crucial role in the transition to sustainable energy within South Korea, in line with the government's initiatives to reduce carbon emissions.

    Additionally, Lithium Manganese Oxide (LMO) offers notable advantages such as thermal stability and safety, typically finding applications in power tools and medical devices where long life and stability are paramount. 

    On the other hand, Lithium Iron Phosphate (LFP) is recognized for its safety and long cycle life, gaining traction for its usage in electric buses, reflecting South Korea's push towards green public transport.Moreover, Lithium Cobalt Oxide (LCO) is valued for its high specific energy and is extensively used in consumer electronics, a sector that continues to be a substantial contributor to the South Korean economy, home to several leading electronics companies.

    In parallel, Lithium Nickel Cobalt Aluminum Oxide (NCA) is lauded for its high energy density and efficiency, primarily targeting high-performance applications such as electric vehicles, thus contributing to the overall market growth fueled by the increasing demand for electric mobility. 

    Lastly, Lithium Titanate Oxide (LTO), although less common, offers rapid charging capabilities and long cycle life, paving the way for innovative applications where speed and lifespan are critical, such as in smart grids and renewable energy storage solutions.As South Korea aims to boost its position as a leader in battery technology, each of these underlying Type segments plays a significant role, addressing specific consumer needs and contributing to the electrification and sustainability goals set by the government. 

    Lithium-Ion Battery Market Capacity Insights

    The South Korea Lithium-Ion Battery Market demonstrates a notable focus on the Capacity segment, which plays a critical role in defining performance across various applications, including electric vehicles, consumer electronics, and renewable energy storage systems. The range from 0-3000 mAh primarily caters to portable devices, where compactness and lightweight design are vital, thus driving innovation in this area.

    On the other hand, the 3000-10000 mAh capacity range supports a growing demand for mid-sized applications like laptops and power tools, which benefit from higher energy density.The segment covering 10000-60000 mAh aligns with the advancements in electric vehicles, as larger capacities are essential for longer range and efficiency. 

    Meanwhile, the upper echelon, 60000 mAh and above, has seen a surge primarily driven by industrial applications and large-scale energy storage systems, where performance and reliability are crucial. Collectively, this Capacity segmentation reflects the diverse demands and evolving trends within the South Korea Lithium-Ion Battery Market, promoting continuous advancements and a competitive landscape.Factors such as the government’s push for electric vehicles and renewable energy further amplify the significance of these capacity ranges as the market adapts to growing sustainability standards and technological advancements.

    Lithium-Ion Battery Market Voltage Insights

    The Voltage segment of the South Korea Lithium-Ion Battery Market plays a crucial role in defining the applications and efficiencies of battery technologies used across various industries. Within this segment, the categories of Low, Medium, and High voltage batteries each serve distinct purposes. Low voltage batteries, typically below 12V, are widely utilized in consumer electronics and portable devices, reflecting strong demand due to the ever-increasing reliance on mobile technology.

    Medium voltage batteries, classified between 12V and 36V, are commonly found in electric vehicles and renewable energy storage solutions, underscoring their significance in addressing the growing need for sustainable energy sources and transportation options in South Korea.

    High voltage batteries, exceeding 36V, dominate in sectors such as industrial machinery and electric transportation, where high energy density and improved performance are critical. The growth in these segments is fueled by advancements in battery technology and a shift towards greener energy alternatives. Moreover, as South Korea emphasizes innovations in the battery sector to support its global competitiveness, understanding the dynamics of each voltage category becomes essential for market participants. The increasing integration of these batteries in electric mobility and energy storage applications highlights the critical nature of voltage categories in shaping the South Korea Lithium-Ion Battery Market landscape.

    Lithium-Ion Battery Market Industry Insights

    The South Korea Lithium-Ion Battery Market plays a crucial role in driving advancements across diverse sectors such as Automotive, Aerospace, Consumer Electronics, Marine, Industrial, Power, Telecommunication, and Medical. In the Automotive industry, the demand for electric vehicles has surged, increasing the need for high-capacity lithium-ion batteries that enhance performance and efficiency. The Aerospace sector relies on lightweight and reliable battery solutions for various applications, ensuring safety and operational readiness. In Consumer Electronics, lithium-ion batteries are pivotal for powering portable devices, emphasizing the importance of rapid charging and longevity.

    The Marine segment is witnessing innovations with battery solutions for electric propulsion systems, significantly reducing emissions and promoting sustainability. In the Industrial space, there is a growing use of lithium-ion batteries for energy storage systems, enhancing operational efficiency and energy management. The Power sector leverages these batteries for grid stabilization and renewable energy integration. Telecommunication industries benefit from batteries that support uninterrupted services and data transmission. 

    Meanwhile, the Medical sector utilizes these advanced battery technologies for portable, life-saving equipment.Altogether, the advancements in these sectors highlight the significance and multifaceted impact of the lithium-ion battery industry within South Korea, as it responds to market trends and technological needs across various applications.

    Get more detailed insights about South Korea Lithium Ion Battery Market

    Key Players and Competitive Insights

    The South Korea Lithium-Ion Battery Market is a rapidly evolving sector characterized by fierce competition among various players within the industry. With the global push towards clean energy and the increasing demand for electric vehicles, portable electronics, and renewable energy storage solutions, South Korea has positioned itself as a significant hub for lithium-ion battery production. The country benefits from a well-established manufacturing infrastructure, a technologically adept workforce, and strong government support aimed at promoting green technologies.

    The market dynamics are driven by research and development efforts, innovation in battery chemistry, and sustainability initiatives, highlighting an environment where companies must continually adapt to maintain competitive advantages.

    The collaborative efforts between major players, alongside the rise of new entrants, further indicate a robust competitive landscape.POSCO Chemical stands out as a crucial player in the South Korean Lithium-Ion Battery Market due to its strategic focus on producing high-performance materials essential for battery manufacturing. The company leverages its expertise in advanced materials and chemical engineering to develop cathode and anode materials that meet the stringent demands of battery manufacturers. In South Korea, POSCO Chemical has cultivated strong partnerships with leading battery producers, thereby enhancing its market presence and fostering innovation in battery technology.

    With an emphasis on sustainability and efficiency, POSCO Chemical has continuously improved its production processes and expanded its capacity to meet the growing demand for lithium-ion batteries. 

    The company’s strengths lie in its robust RD capabilities and its commitment to reducing the environmental impact of battery manufacturing, making it a formidable competitor in the market.Ecopro BM plays a pivotal role in the South Korean Lithium-Ion Battery Market, particularly noted for its production of high-quality cathode materials. The company has gained a significant foothold in the market through its innovative approach to material development and sustainable production practices. In South Korea, Ecopro BM has established a reputation for its cutting-edge products that cater to the specific needs of electric vehicle manufacturers and energy storage systems. 

    The company's strength lies in its commitment to research and development, which has led to advancements in lithium nickel cobalt manganese oxide and other specialized materials. Through strategic collaborations and investments, Ecopro BM aims to enhance its manufacturing capabilities and increase its market share. The company has also engaged in mergers and acquisitions to bolster its position within the industry, emphasizing the importance of adaptability in the competitive landscape of the South Korean lithium-ion battery market.

    Key Companies in the South Korea Lithium Ion Battery Market market include

    Industry Developments

    Recent developments in the South Korea Lithium-Ion Battery Market include notable growth and investments from key players such as LG Energy Solution, Samsung SDI, and SK On. In October 2023, LG Energy Solution announced plans to expand their production capacity, aiming to increase output for electric vehicle batteries, reflecting strong demand in the automotive sector. Meanwhile, SK On is working on a strategic partnership with foreign firms to strengthen its global supply chain. Significant activities were also noted in September 2023, when Samsung Electronics invested in advanced manufacturing technologies to enhance the efficiency of their battery production. 

    Additionally, the Korean government has ramped up efforts to support the battery sector by providing funding for Research and Development initiatives and promoting domestic resources for lithium extraction. Mergers and acquisitions have garnered attention, with Ecopro BM acquiring a significant stake in a recycling firm to boost sustainability efforts in battery materials. Over the last few years, firms like POSCO Chemical have seen substantial stock market valuations, influenced by the growing demand for green technology and renewable energy solutions. This vibrant landscape reflects a robust trajectory for South Korea’s lithium-ion battery industry amid increasing global emphasis on electric mobility.

    Market Segmentation

    Outlook

    • Lithium Nickel Manganese Cobalt
    • Lithium Manganese Oxide
    • Lithium Iron Phosphate
    • Lithium Cobalt Oxide
    • Lithium Nickle Cobalt Aluminum Oxide
    • Lithium Titanate Oxide

    Lithium-Ion Battery Market Type Outlook

    • Lithium Nickel Manganese Cobalt
    • Lithium Manganese Oxide
    • Lithium Iron Phosphate
    • Lithium Cobalt Oxide
    • Lithium Nickle Cobalt Aluminum Oxide
    • Lithium Titanate Oxide

    Lithium-Ion Battery Market Voltage Outlook

    • Low (below 12V)
    • Medium (below 12V-36V)
    • High (Above 36V)

    Lithium-Ion Battery Market Capacity Outlook

    • 0- 3000 mAh
    • 3000-10000 mAh
    • 10000-60000 mAh
    • 60000 mAh
    • above

    Lithium-Ion Battery Market Industry Outlook

    • Automotive
    • Aerospace
    • Consumer Electronics
    • Marine
    • Industrial
    • Power
    • Telecommunication
    • Medical

    Report Scope

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 1.77 (USD Billion)
    MARKET SIZE 2024 1.91 (USD Billion)
    MARKET SIZE 2035 5.7 (USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 10.448% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED POSCO Chemical, Ecopro BM, SK On, LG Chem, Sungrow Power Supply, Frost and Sullivan, Amperex Technology, Hyundai Mobis, Samsung Electronics, Doosan Corporation, Korea Electric Power Corporation, Samsung SDI, LG Energy Solution
    SEGMENTS COVERED Type, Capacity, Voltage, Industry
    KEY MARKET OPPORTUNITIES Rising electric vehicle adoption, Growing renewable energy storage, Expansion of consumer electronics market, Government incentives for battery production, Increased demand for energy storage solutions
    KEY MARKET DYNAMICS Technological advancements, Government incentives, Rising electric vehicle demand, Increasing energy storage applications, Competitive pricing strategies
    COUNTRIES COVERED South Korea

    FAQs

    What is the expected market size of the South Korea Lithium-Ion Battery Market in 2024?

    The South Korea Lithium-Ion Battery Market is expected to be valued at 1.91 USD Billion in 2024.

    What is the anticipated market size for the South Korea Lithium-Ion Battery Market by 2035?

    By 2035, the market is expected to reach a valuation of 5.7 USD Billion.

    What is the projected CAGR for the South Korea Lithium-Ion Battery Market from 2025 to 2035?

    The expected CAGR for the market during the period from 2025 to 2035 is 10.448 percent.

    Which sub-segment of the South Korea Lithium-Ion Battery Market has the largest market value in 2024?

    The Lithium Nickel Manganese Cobalt sub-segment holds the largest market value at 0.49 USD Billion in 2024.

    What is the expected market value of Lithium Iron Phosphate type batteries in 2035?

    The market value for Lithium Iron Phosphate type batteries is projected to be 1.02 USD Billion in 2035.

    Who are the key players in the South Korea Lithium-Ion Battery Market?

    Major players include POSCO Chemical, Ecopro BM, SK On, LG Chem, and Samsung SDI among others.

    What is the expected market value for Lithium Manganese Oxide type batteries in 2035?

    By 2035, the market value for Lithium Manganese Oxide type batteries is expected to be 1.14 USD Billion.

    What key applications are driving the growth of the South Korea Lithium-Ion Battery Market?

    Key applications driving growth include electric vehicles, consumer electronics, and renewable energy storage.

    What is the growth potential of the Lithium Cobalt Oxide type in the market from 2024 to 2035?

    The Lithium Cobalt Oxide type market value is expected to grow from 0.3 USD Billion in 2024 to 0.89 USD Billion in 2035.

    What are some emerging trends in the South Korea Lithium-Ion Battery Market?

    Emerging trends include advancements in battery technology, increasing demand for electric vehicles, and sustainability initiatives.

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