India ACC demand forecast by Nuvama

Nuvama Wealth Management published a research report forecasting India's advanced chemistry cell (ACC) demand to grow at a 39% CAGR from 2025 to 2030, reaching 700 GWh. The growth is driven by electric vehicle battery demand (35% CAGR) and battery energy storage systems (78% CAGR). The India — India's PLI scheme aims to establish 50 GWh domestic capacity, while over 10 manufacturers announced 178 GWh capacity. The India — National Critical Mineral Mission supports domestic exploration of lithium, nickel, cobalt, and graphite. Galan Lithium iron phosphate is expected to dominate globally, boosting demand for iron phosphate, graphite, conductive carbon black, carbon nanotubes, and electrolyte materials, while moderating cobalt demand. India's battery-materials value chain is developing, with critical minerals still imported but domestic capacity increasing for cathode/anode materials, electrolytes, and conductive additives. Emerging technologies include silicon-carbon anodes, LMFP, sodium-ion, and solid-state batteries.