DUBLIN, June 22, 2022 (GLOBE NEWSWIRE) — The “Lithium Ion Battery Metals Market – A Global and Regional Analysis: Focus on Constituent Metal, Cell Chemistry, End Application and Region – Analysis and Forecast, 2022-2031” report has been added ResearchAndMarkets.com Offer.
Metal Lithium Ion Battery Market was valued at US$14,539.70 million in 2021 and is expected to reach US$286,085.77 million by 2031, growing at a CAGR of 34.00% between 2022 and 2031.
The lithium-ion battery metals market is being driven by several factors, including increasing demand for Li-ion batteries from automotive, consumer electronics and energy storage systems. In recent years, Li-ion batteries have seen an exponential increase in demand from the automotive industry, with electric vehicle (EV) sales reaching record highs.
phase of the market life cycle
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 began work on a battery that could charge itself in a short period of time. He began his experiments using titanium disulfide and lithium metal as electrodes.
In the 1980s, John B. Goodenough used lithium cobalt oxide (LCO) as the cathode instead of titanium disulfide and found that the battery doubled its energy potential. Five years later, Akira Yoshino of Meijo University in Japan used petroleum coke as the anode in John B. Goodenough’s LCO battery. This latest experiment by Akira Yoshino resulted in the first known prototype lithium-ion battery. The three scientists were awarded the 2019 Nobel Prize in Chemistry for their work in the development of lithium-ion batteries.
The growth of the lithium-ion battery metal market is closely linked to the automotive and consumer electronics industries. The growing demand for electric vehicles and consumer electronic products such as laptops, mobile phones and Internet of Things (IoT) devices has led to an increasing demand for lithium-ion batteries worldwide. In addition, the increasing adoption of lithium-ion batteries in stationary energy storage systems is contributing to the growth of the metal lithium-ion battery market.
Effects of COVID-19
The outbreak of COVID-19 has caused multiple delays in manufacturing operations, resulting in a slowdown in the lithium-ion battery metal market. Supply chain disruptions have also negatively impacted the lithium-ion battery metals market. Currently, companies are trying to enter into long-term supply agreements with other suppliers to maintain smooth operations and interrupted supplies of metals.
Recent developments in the lithium-ion battery metals market
- In April 2022, Lithion Recycling, a Canadian company, received $18 million from the Quebec government. Funding was provided to continue development of battery recycling technology capable of recovering 95% of strategic materials from end-of-life lithium-ion batteries and industrial waste.
- In April 2022, Contemporary acquired Amperex Technology Co. Ltd. (CATL) acquired exploration rights to a lithium clay deposit in China. CATL announced that it has been awarded exploration rights for $135 million and further announced that the prospect contains approximately 2.66 million tonnes of lithium metal oxide.
- In April 2022, Nissan and NASA announced they were collaborating on the development of solid-state lithium-ion batteries. The partnership aims to develop solid-state batteries that are ideal for commercial and aerospace applications.
Demand – Drivers and Constraints
The following are the demand drivers for the metal lithium-ion battery market:
- Increasing sales of electric vehicles
- Increasing demand for consumer electronics applications
- Performance advantages of lithium-ion batteries over lead-acid batteries
The market is also expected to face some restraints due to the following challenges:
- Rising prices for lithium, cobalt and nickel
- Human rights issues related to cobalt mining
Summary of key market players and competition
The profiled companies were selected based on contributions collected from primary experts that analyzed company coverage, product portfolio and market penetration.
Some prominent names that have established themselves in this market are:
- Umicore NV
- L&F Co.,Ltd.
- Nichia Corporation
- BASF TODA Battery Materials LLC
- Jiangxi Ganfeng Lithium Co., Ltd.
- Albemarle Corporation
- China Molybdenum Co.,Ltd.
- Tianqi Lithium Corporation
- Sumitomo Metal Mining Co.,Ltd.
- NEI Corporation
- Huayou Cobalt Co., Ltd.
- Toda Kogyo Corporation
- CoreMax Corporation
- Lygend Resources & Technology Co.,Ltd.
- Norilsk Nickel
- POSCO CHEMISTRY
- Glencore PLC
- Wildcat Discovery Technologies
- Echion Technologies Ltd.
- CAMX Power LLC
- Texpower EV Technologies, Inc.
Main topics covered:
1.1 Industry Outlook
1.1.1 Trends: present and future
188.8.131.52 Cobalt-free lithium-ion batteries are changing the market
184.108.40.206 Solid state lithium-ion batteries revolutionizing multiple markets/industries including automotive, consumer electronics and energy storage
220.127.116.11 Growing demand for recycled metals from used lithium-ion batteries
18.104.22.168 Growing demand for battery energy storage systems
1.1.2 Supply Chain Network/Map
1.1.3 Ecosystem/Ongoing Programs
22.214.171.124 Consortia, Associations and Regulators
126.96.36.199 Government Programs
188.8.131.52 Programs of research institutes and universities
1.2 Business Dynamics
1.2.1 Business Drivers
184.108.40.206 Increasing sales of electric vehicles
220.127.116.11 Increasing demand for consumer electronics applications
18.104.22.168 Performance advantages of lithium-ion batteries over lead-acid batteries
1.2.2 Business Challenges
22.214.171.124 Rising prices for lithium, cobalt and nickel
126.96.36.199 Human rights issues related to cobalt mining
1.2.3 Business Strategies
188.8.131.52 Product Development Activities
184.108.40.206 Market Development Activities
1.2.4 Corporate Strategies
220.127.116.11 Mergers and Acquisitions
18.104.22.168 Partnerships, Cooperations and Joint Ventures
1.2.5 Business Opportunities
22.214.171.124 Heavy investment in research and development (R&D) of new Li-ion battery metals
126.96.36.199 Lithium extraction from sea water
188.8.131.52 Investments in renewable energy sources
1.2.6 Industry Attractiveness
184.108.40.206 Industry Attractiveness of Lithium Ion Battery Metals Market
220.127.116.11 Bargaining Power of Buyers
18.104.22.168 Bargaining Power of Suppliers
22.214.171.124 Threat of substitutes
126.96.36.199 New Entrant Threat
188.8.131.52 Intensity of competitive rivalry
1.3 Start-up landscape
1.3.1 Important start-ups
1.3.2 Funding Analysis
184.108.40.206 Major Investors
220.127.116.11 New Products/Offers
1.4 Impact of COVID-19 on Lithium Ion Battery Metals Market
1.5 Impact of Ukraine-Russia Conflict on Lithium Ion Battery Metals Market
1.5.1 Impact on the supply chain of lithium-ion batteries
1.5.2 Sanctions against Russia and its assessment
18.104.22.168 Impact of sanctions on Russia
22.214.171.124 Impact of sanctions on other countries
1.5.3 Key steps taken by companies in response to the Russia-Ukraine conflict
1.5.4 The way to the future
126.96.36.199 New Sourcing Channels for Key Metals Importers from Russia
188.8.131.52.1 Possible alternatives for cobalt procurement
184.108.40.206.2 Possible alternatives for nickel procurement
1.6 Snapshot of Electric Vehicle Market
1.7 Snapshot of Lithium Ion Battery Recycling Market
2.1 Lithium Ion Battery Metals Market (by End User Application)
2.1.1 Automotive industry
2.1.2 Consumer Electronics Industry
2.1.3 Energy Storage Systems
2.1.4 Other End Uses
220.127.116.11 Medical Devices
18.104.22.168 Power tools
2.2 . Lithium Ion Battery Metals Market Demand Analysis (by End Application), Value and Volume, 2021-2031
3.1 Lithium Ion Battery Metals Market (by Components)
3.1.4 Other constituent metals
3.2 Lithium Ion Battery Metals Market Demand Analysis (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
22.214.171.124 Solid State Batteries
126.96.36.199 Lithium Titanate Oxide (LTO)
3.4 Lithium Ion Battery Metals Market (by Cell Chemistry) Demand Analysis, Value and Volume, 2021-2031
3.5 Product Benchmarking Growth Rate – Market Share Matrix, 2021
3.6 Patent Analysis
3.7 Mining Analysis of Constituent Metals, 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 NV
188.8.131.52 Company Overview
184.108.40.206.1 Role of Umicore NV in the Lithium Ion Battery Metals Market
220.127.116.11.2 Product portfolio
18.104.22.168 Manufacturing Facilities
22.214.171.124 Business Strategies
126.96.36.199.1 Product Development
188.8.131.52 Corporate Strategies
184.108.40.206.1 Partnerships, Cooperations and Joint Ventures
220.127.116.11 R&D Analysis
18.104.22.168.1 Analyst Rating
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 CHEMISTRY
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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Global Lithium Ion Battery Metals Market