The global market for Lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.
Source: JRC analysis. The supply 1 of each processed raw material and components for batteries is currently controlled by an oligopoly industry, which is highly concentrated in China. Although China is expected to continue holding a dominant position, geographic diversification will increase on the supply side, mostly for refined lithium.
While the lithium-ion battery supply chain will likely remain Chinese-dominated until 2030, a European CRM supply security policy and other global supply diversification policies are picking up. Re-shoring activities create opportunities for Europe to strengthen the resilience of its lithium supply chain and to become more self-sufficient.
It is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030. Much of this growth can be attributed to the rising popularity of electric vehicles, which predominantly rely on lithium-ion batteries for power.
Much of this growth can be attributed to the rising popularity of electric vehicles, which predominantly rely on lithium-ion batteries for power. Find up-to-date statistics and facts on lithium-ion batteries.
Lithium-ion batteries have revolutionized our everyday lives, laying the foundations for a wireless, interconnected, and fossil-fuel-free society. Their potential is, however, yet to be reached.