The lithium-ion battery market is clearly and indisputably on the rise.
The major sectors of applications are electric vehicles and energy storage systems for both residential and commercial installations.
Annual growth forecast report
Many forecast reports estimate that if the market is in 2019 was worth about 37 billion dollars, by 2030 it could exceed 130 billion, with an annual growth of around 18%.
North America is the largest market, with around 40% followed by from Asia and the Pacific with around 30% and Europe with around 20%.
However, it is likely that the growing mismatch between demand and supply of raw materials slow the growth of market.
Supply chain of components
A good part of the supply chain of cobalt-based components is in the hands of Chinese companies:
- from the extraction, mainly in the Democratic Republic of the Congo with over 50%;
- to the refining of the mineral and combination with nickel and manganese
- assembly of the components.
Asia dominates the world market
Regions of Asia dominate the world market, albeit Europe is running for cover with heavy investments for the battery production made Europe.
China dominates the production of lithium-ion batteries with a capacity of 72 Gwh and controls 80% of the refining of the raw materials, 77% of the world production capacity.
Raw materials from Bolivia, Chile, the United States, Australia and China
As for materials, Bolivia is at the top of the list for the stocks followed by Chile, the United States, Australia and China.
Thanks to the growth of storage systems and cost cutting, it is estimated that by 2040 40% of the power electric will be produced raw from renewable sources and regarding mobility- the 33% of new car registration, will be E-cars.