Global Lithium-Ion Battery Metals Market
Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Lithium-Ion Battery Metals Market - A Global and Regional Analysis: Focus on Constituent Metal, Cell Chemistry, End-Use Application, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The lithium-ion battery metals market was valued at $14,539.70 million in 2021 and is expected to reach $286,085.77 million by 2031, growing at a CAGR of 34.00% between 2022 and 2031.
The lithium-ion battery metals market is driven by several factors, including the surging demand for Li-ion batteries from the automotive industry, consumer electronics, and energy storage systems. In recent years, Li-ion batteries have registered an exponential surge in demand from the automotive industry, with sales of electric vehicles (EVs) reaching record heights.
Market Lifecycle Stage
Lithium-ion batteries were developed by three scientists, John B. Goodenough, M. Stanley Whittingham, and Akira Yoshino working separately in the 1970s. During the 1970s oil crisis, M. Stanley Whittingham started working on a battery that could recharge itself in a short amount of time. He started his experiments with titanium disulfide and lithium metal as electrodes.
In the 1980s, John B. Goodenough used lithium-cobalt-oxide (LCO) instead of titanium disulfide as a cathode and found that the battery doubled its energy potential. After five years, Akira Yoshino of Meijo University in Japan used petroleum coke as an anode in John B. Goodenough's LCO battery. This latest experiment by Akira Yoshino resulted in the first known lithium-ion battery prototype. The three scientists were awarded the Nobel Prize for Chemistry in 2019 due to their work in developing lithium-ion batteries.
The growth of the lithium-ion battery metals market is closely tied to the automotive industry and consumer electronics industry. The growing demand for electric vehicles and consumer electronics products such as laptops, mobile phones, and the Internet of Things (IoT) devices has led to surging demand for lithium-ion batteries around the world. Moreover, the growing adoption of lithium-ion batteries in stationary energy storage systems contributes to the growth of the lithium-ion battery metals market.
Impact of COVID-19
The outbreak of COVID-19 has caused several delays in manufacturing operations, which resulted in the slowdown of the lithium-ion battery metals market. Also, supply chain disruptions have negatively impacted the lithium-ion battery metals market. Currently, companies are trying to secure long-term supply contracts with other suppliers, to maintain smooth operations and interrupted supply of metals.
Recent Developments in the Lithium-Ion Battery Metals Market
In April 2022, Lithion Recycling, a Canadian company, received $18 million in funding from the Quebec government. The funding was made to continue the development of a battery recycling technology that can recover 95% of strategic materials from end-of-life lithium-ion batteries and industrial waste.
In April 2022, Contemporary Amperex Technology Co. Ltd. (CATL) won the exploration rights to a lithium clay deposit in China. CATL announced that it won the exploration rights for $135 million and further announced that the exploration site contains approximately 2.66 million tons of lithium metal oxide.
In April 2022, Nissan and NASA announced that they are collaborating to develop lithium-ion solid-state batteries. The partnership aims to develop solid-state batteries ideal for application in commercial and aerospace industries.
Demand - Drivers and Limitations
Following are the demand drivers for the lithium-ion battery metals market:
Growing Sales of Electric Vehicles
Rising Demand for Application in Consumer Electronics
Performance Benefits of Lithium-Ion Batteries over Lead-Acid Batteries
The market is expected to face some limitations too due to the following challenges:
Rising Prices of Lithium, Cobalt, and Nickel
Human Rights Issues Related to Cobalt Mining
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some prominent names established in this market are:
L&F Co., Ltd.
BASF TODA Battery Materials LLC
Jiangxi Ganfeng Lithium Co., Ltd.
China Molybdenum Co., Ltd.
Tianqi Lithium Corporation
Sumitomo Metal Mining Co., Ltd.
Huayou Cobalt Co., Ltd.
Toda Kogyo Corporation
Lygend Resources & Technology Co., Ltd.
Wildcat Discovery Technologies
Echion Technologies Ltd.
CAMX Power LLC
Texpower EV Technologies, Inc.
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Trends: Current and Future
126.96.36.199 Cobalt-Free Lithium-Ion Batteries Transforming the Market
188.8.131.52 Solid-State Lithium-Ion Batteries Revolutionizing Several Markets/Industries Including Automotive, Consumer Electronics, and Energy Storage
184.108.40.206 Growing Demand for Recycled Metals from Used Lithium-Ion Batteries
220.127.116.11 Growing Demand for Battery Energy Storage Systems
1.1.2 Supply Chain Network/Map
1.1.3 Ecosystem/Ongoing Programs
18.104.22.168 Consortiums, Associations, and Regulatory Bodies
22.214.171.124 Government Programs
126.96.36.199 Programs by Research Institutions and Universities
1.2 Business Dynamics
1.2.1 Business Drivers
188.8.131.52 Growing Sales of Electric Vehicles
184.108.40.206 Rising Demand for Application in Consumer Electronics
220.127.116.11 Performance Benefits of Lithium-Ion Batteries over Lead-Acid Batteries
1.2.2 Business Challenges
18.104.22.168 Rising Prices of Lithium, Cobalt, and Nickel
22.214.171.124 Human Rights Issues Related to Cobalt Mining
1.2.3 Business Strategies
126.96.36.199 Product Development Activities
188.8.131.52 Market Development Activities
1.2.4 Corporate Strategies
184.108.40.206 Mergers and Acquisitions
220.127.116.11 Partnerships, Collaborations, and Joint Ventures
1.2.5 Business Opportunities
18.104.22.168 High Investment in the Research and Development (R&D) of New Li-Ion Battery Metals
22.214.171.124 Lithium Production from Seawater
126.96.36.199 Investment in Renewable Energy Sources
1.2.6 Industry Attractiveness
188.8.131.52 Industry Attractiveness of Lithium-Ion Battery Metals Market
184.108.40.206 Bargaining Power of Buyers
220.127.116.11 Bargaining Power of Suppliers
18.104.22.168 Threat of Substitutes
22.214.171.124 Threat of New Entrants
126.96.36.199 Intensity of Competitive Rivalry
1.3 Start-Up Landscape
1.3.1 Key Start-Ups
1.3.2 Funding Analysis
188.8.131.52 Major Investors
184.108.40.206 New Products/Offerings
1.4 Impact of COVID-19 on the Lithium-Ion Battery Metals Market
1.5 Impact of Ukraine-Russia Conflict on the Lithium-Ion Battery Metals Market
1.5.1 Impact on Supply Chain of Lithium-Ion Batteries
1.5.2 Sanctions on Russia and Its Evaluation
220.127.116.11 Effect of Sanctions on Russia
18.104.22.168 Impact of Sanctions on Other Countries
1.5.3 Key Steps Taken by Companies in Response to Russia-Ukraine Conflict
1.5.4 The Road Ahead
22.214.171.124 New Sourcing Avenues for Key Metal Importers from Russia
126.96.36.199.1 Potential Alternatives for Cobalt Procurement
188.8.131.52.2 Potential Alternatives for Nickel Procurement
1.6 Snapshot of the Electric Vehicles Market
1.7 Snapshot of the Lithium-Ion Battery Recycling Market
2.1 Lithium-Ion Battery Metals Market (by End-Use Application)
2.1.1 Automotive Industry
2.1.2 Consumer Electronics Industry
2.1.3 Energy Storage Systems
2.1.4 Other End-Use Applications
184.108.40.206 Medical Devices
220.127.116.11 Power Tools
2.2 . Demand Analysis of the Lithium-Ion Battery Metals Market (by End-Use Application), Value and Volume, 2021-2031
3.1 Lithium-Ion Battery Metals Market (by Constituent Metal)
3.1.4 Other Constituent Metals
3.2 Demand Analysis of the Lithium-Ion Battery Metals Market (by Constituent Metal), Value and Volume, 2021-2031
3.3 Lithium-Ion Battery Metals Market (by Cell Chemistry)
3.3.1 Lithium-Cobalt Oxide (LCO)
3.3.2 Nickel-Cobalt-Manganese (NMC)
3.3.3 Nickel-Cobalt-Aluminum (NCA)
3.3.4 Lithium-Magnesium Oxide (LMO)
3.3.5 Lithium-Iron-Phosphate (LFP)
3.3.6 Other Cell Chemistries
18.104.22.168 Solid-State Batteries
22.214.171.124 Lithium Titanate Oxide (LTO)
3.4 Demand Analysis of the Lithium-Ion Battery Metals Market (by Cell Chemistry), Value and Volume, 2021-2031
3.5 Product Benchmarking: Growth Rate - Market Share Matrix, 2021
3.6 Patent Analysis
3.7 Constituent Metals Mining Analysis, Volume, 2020 and 2021
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis of Key Companies
5.2 Company Profiles
5.2.1 Umicore N.V.
126.96.36.199 Company Overview
188.8.131.52.1 Role of Umicore N.V. in the Lithium-Ion Battery Metals Market
184.108.40.206.2 Product Portfolio
220.127.116.11 Production Sites
18.104.22.168 Business Strategies
22.214.171.124.1 Product Development
126.96.36.199 Corporate Strategies
188.8.131.52.1 Partnerships, Collaborations, and Joint Ventures
184.108.40.206 R&D Analysis
220.127.116.11.1 Analyst's Review
5.2.2 L&F Co., Ltd.
5.2.3 Nichia Corporation
5.2.4 BASF TODA Battery Materials LLC
5.2.5 Jiangxi Ganfeng Lithium Co., Ltd.
5.2.7 Albemarle Corporation
5.2.8 China Molybdenum Co., Ltd.
5.2.10 Tianqi Lithium Corporation
5.2.11 Sumitomo Metal Mining Co., Ltd.
5.2.12 NEI Corporation
5.2.13 Huayou Cobalt Co., Ltd.
5.2.14 Toda Kogyo Corporation
5.2.15 CoreMax Corporation
5.2.16 Lygend Resources & Technology Co., Ltd.
5.2.17 Norilsk Nickel
5.2.19 POSCO CHEMICAL
5.2.20 Glencore PLC
5.2.21 Wildcat Discovery Technologies
5.2.22 Echion Technologies Ltd.
5.2.23 CAMX Power LLC
5.2.25 Texpower EV Technologies, Inc.
6 Research Methodology
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