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    South Korea Lithium Ion Battery Market

    ID: MRFR/SEM/45296-HCR
    200 Pages
    Garvit Vyas
    September 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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    Table of Contents

    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.

    South Korea Lithium Ion Battery Market Drivers

    Market Segment Insights

    Get more detailed insights about South Korea Lithium Ion Battery Market Research Report - Forecast till 2035

    Regional Insights

    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

    Market Highlights

    Author
    Garvit Vyas
    Analyst

    Explore the profile of Garvit Vyas, one of our esteemed authors at Market Research Future, and access their expert research contributions in the field of market research and industry analysis

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    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.

    1. 'TABLE OF CONTENTS
    2. EXECUTIVE SUMMARY
      1. Market Overview
      2. Key Findings
      3. Market Segmentation
      4. Competitive Landscape
      5. Challenges and Opportunities
      6. Future Outlook
    3. MARKET INTRODUCTION
      1. Definition
      2. Scope of the study
        1. Research
    4. Objective
      1. Assumption
        1. Limitations
    5. RESEARCH METHODOLOGY
      1. Overview
      2. Data Mining
      3. Secondary Research
    6. Primary Research
      1. Primary Interviews and Information Gathering Process
        1. Breakdown of Primary Respondents
      2. Forecasting Model
    7. Market Size Estimation
      1. Bottom-Up Approach
        1. Top-Down Approach
      2. Data Triangulation
      3. Validation
    8. MARKET DYNAMICS
      1. Overview
      2. Drivers
      3. Restraints
      4. Opportunities
    9. MARKET FACTOR ANALYSIS
      1. Value chain Analysis
      2. Porter''s
    10. Five Forces Analysis
      1. Bargaining Power of Suppliers
        1. Bargaining
    11. Power of Buyers
      1. Threat of New Entrants
        1. Threat of Substitutes
        2. Intensity of Rivalry
      2. COVID-19 Impact Analysis
    12. Market Impact Analysis
      1. Regional Impact
        1. Opportunity and
    13. Threat Analysis
    14. SOUTH KOREA LITHIUM-ION BATTERY MARKET, BY TYPE (USD BILLION)
      1. Lithium Nickel Manganese Cobalt
      2. Lithium Manganese Oxide
      3. Lithium Iron Phosphate
      4. Lithium Cobalt Oxide
      5. Lithium
    15. Nickle Cobalt Aluminum Oxide
      1. Lithium Titanate Oxide
    16. SOUTH KOREA
    17. LITHIUM-ION BATTERY MARKET, BY CAPACITY (USD BILLION)
      1. 0- 3000 mAh
      2. 3000-10000 mAh
      3. 10000-60000 mAh
      4. 60000 mAh
    18. above
    19. SOUTH KOREA LITHIUM-ION BATTERY MARKET, BY VOLTAGE (USD BILLION)
      1. Low (below 12V)
      2. Medium (below 12V-36V)
      3. High (Above
    20. V)
    21. SOUTH KOREA LITHIUM-ION BATTERY MARKET, BY INDUSTRY (USD BILLION)
      1. Automotive
      2. Aerospace
      3. Consumer Electronics
    22. Marine
      1. Industrial
      2. Power
      3. Telecommunication
    23. Medical
    24. COMPETITIVE LANDSCAPE
      1. Overview
      2. Competitive
    25. Analysis
      1. Market share Analysis
      2. Major Growth Strategy in
    26. the Lithium-Ion Battery Market
      1. Competitive Benchmarking
    27. Leading Players in Terms of Number of Developments in the Lithium-Ion Battery Market
      1. Key developments and growth strategies
        1. New Product Launch/Service
    28. Deployment
      1. Merger & Acquisitions
        1. Joint Ventures
      2. Major Players Financial Matrix
        1. Sales and Operating Income
        2. Major Players R&D Expenditure. 2023
    29. COMPANY PROFILES
      1. POSCO Chemical
        1. Financial Overview
        2. Products
    30. Offered
      1. Key Developments
        1. SWOT Analysis
    31. Key Strategies
      1. Ecopro BM
        1. Financial Overview
    32. Products Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. SK On
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      3. LG Chem
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT
    33. Analysis
      1. Key Strategies
      2. Sungrow Power Supply
    34. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Frost and Sullivan
        1. Financial Overview
        2. Products Offered
        3. Key
    35. Developments
      1. SWOT Analysis
        1. Key Strategies
    36. Amperex Technology
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
        4. Key Strategies
      2. Hyundai Mobis
        1. Financial Overview
        2. Products
    37. Offered
      1. Key Developments
        1. SWOT Analysis
    38. Key Strategies
      1. Samsung Electronics
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT
    39. Analysis
      1. Key Strategies
      2. Doosan Corporation
    40. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Korea Electric
    41. Power Corporation
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
        4. Key
    42. Strategies
      1. Samsung SDI
        1. Financial Overview
    43. Products Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. LG Energy Solution
        1. Financial
    44. Overview
      1. Products Offered
        1. Key Developments
    45. SWOT Analysis
      1. Key Strategies
    46. APPENDIX
      1. References
      2. Related Reports
    47. OF ASSUMPTIONS
    48. & FORECAST, BY TYPE, 2019-2035 (USD BILLIONS)
    49. BATTERY MARKET SIZE ESTIMATES & FORECAST, BY CAPACITY, 2019-2035 (USD BILLIONS)
    50. BY VOLTAGE, 2019-2035 (USD BILLIONS)
    51. MARKET SIZE ESTIMATES & FORECAST, BY INDUSTRY, 2019-2035 (USD BILLIONS)
    52. SOUTH KOREA LITHIUM-ION BATTERY MARKET ANALYSIS BY TYPE
    53. LITHIUM-ION BATTERY MARKET ANALYSIS BY CAPACITY
    54. BATTERY MARKET ANALYSIS BY VOLTAGE
    55. MARKET ANALYSIS BY INDUSTRY
    56. MARKET
    57. LITHIUM-ION BATTERY MARKET
    58. BATTERY MARKET
    59. MARKET
    60. LITHIUM-ION BATTERY MARKET, BY TYPE, 2025 (% SHARE)
    61. BATTERY MARKET, BY TYPE, 2019 TO 2035 (USD Billions)
    62. BATTERY MARKET, BY CAPACITY, 2025 (% SHARE)
    63. MARKET, BY CAPACITY, 2019 TO 2035 (USD Billions)
    64. MARKET, BY VOLTAGE, 2025 (% SHARE)
    65. BY VOLTAGE, 2019 TO 2035 (USD Billions)
    66. BY INDUSTRY, 2025 (% SHARE)
    67. TO 2035 (USD Billions)

    South Korea Lithium-Ion Battery Market Segmentation

    • Lithium-Ion Battery Market By Type (USD Billion, 2019-2035)
      • 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 By Capacity (USD Billion, 2019-2035)
      • 0- 3000 mAh
      • 3000-10000 mAh
      • 10000-60000 mAh
      • 60000 mAh
      • above

     

    • Lithium-Ion Battery Market By Voltage (USD Billion, 2019-2035)
      • Low (below 12V)
      • Medium (below 12V-36V)
      • High (Above 36V)

     

    • Lithium-Ion Battery Market By Industry (USD Billion, 2019-2035)
      • Automotive
      • Aerospace
      • Consumer Electronics
      • Marine
      • Industrial
      • Power
      • Telecommunication
      • Medical
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